EDINBURGH — At BizNews, we are great fans of Warren Buffett, who is also called the Sage of Omaha for his investment prowess. BizNews founder and editor-in-chief Alec Hogg has closely studied Buffett’s investment approach and has produced a book for South African investors on how to emulate the Buffett process. In the BizNews share portfolios, it is inevitable that the types of principles espoused by Warren Buffett are incorporated in decision-making. Amazon has been in the BizNews share portfolio for some time. Buffett this week said he had got in on Amazon a bit late, after under-estimating its founder Jeff Bezos. Buffett has demonstrated an uncanny ability to identify stocks that outpace others, which has enabled him to deliver returns above the stock market averages for more than five decades, so don’t be surprised if Amazon continues to be a winner for the foreseeable future. – Jackie Cameron
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Warren Buffett says Berkshire has taken stake in Amazon
Mr. Buffett said he hadn’t personally decided upon the investment but that one of his portfolio managers – either Ted Weschler or Todd Combs – made the investment. Berkshire will report its stockholdings as of March 31 later this month.
Mr. Buffett will take the stage and answer shareholder questions at the company’s widely attended annual meeting Saturday in Omaha, Nebraska.
Mr. Buffett has praised Amazon Chief Executive Jeff Bezos in the past and said he erred in not investing in Amazon early on. “I had a very, very, very high opinion of Jeff’s ability when I first met him, and I underestimated him,” Mr. Buffett said at Berkshire’s annual meeting last year.
Neither Berkshire nor Amazon immediately responded to a request for comment.
Berkshire, Amazon and JPMorgan Chase & Co. have launched a joint project called Haven to lower health-care costs for their employees.
Messrs. Weschler and Combs each manage about $13 billion for Berkshire, and Mr. Buffett oversees the rest. The portfolio managers have total freedom to choose their investments, Mr. Buffett has said.
One of the portfolio managers was the first to buy Apple Inc. shares for Berkshire’s portfolio. Mr. Buffett subsequently looked into the company and started buying its stock himself. Berkshire owned about 5% of Apple as of the end of 2018.
Write to Nicole Friedman at [email protected]
