"Warren Buffett Stocks" That Might Not Be His Ideas

Amazon's closing price on Thursday, ahead of this disclosure, was $1,900.82, and the shares were up nearly 2% at $1,938 shortly after the opening bell on Friday.

Berkshire Hathaway shareholders descended on Omaha for a weekend of shopping and celebrations on Friday.

Berkshire Hathaway Inc., based in Omaha, Nebraska, owns a range of businesses including insurance, railroads, jewelry stores as well as major investments in American Express, IBM and Wells Fargo & Co.

Some were anticipating Amazon's rise before the Berkshire investment however.

Billionaire investor Warren Buffett has said that he underestimated Amazon.com Inc chief executive officer Jeff Bezos, and now one of his deputies is willing to put money behind the technology giant.

Stock buybacks: Quarterly earnings, to be released before the meeting, will disclose how much of Berkshire's stock Buffett and Vice Chairman Charlie Munger saw fit to repurchase in Q1.


Warren Buffet is 88 and won't be the CEO of Berkshire Hathaway (BRKB) forever. Buffett has pointed to Apple's strong profitability as one of the reasons to bet on the company. Approaching $1 trillion valuation once more, Apple stock is up more than 32% this year.

The patience afforded to Bezos is starting to pay off. Amazon reported a record US$3.6b profit in the first quarter, although its pace of sales growth had slowed. While Berkshire Hathaway's stake in Amazon might not be a game changer, it could decrease some of the valuation concerns.

Buffett told the FT in an interview last week that he has struggled to find investments that could make a meaningful impact to Berkshire's bottom line given the conglomerate has US$700b in assets, with US$112b of that in cash and cash-like securities.

Buffett's assistants did not immediately respond to a message seeking comment.

Always on the lookout for a good deal, Buffett over the years has scooped up a diverse array of companies like the metal components maker Precision Castparts; wholesale supply chain firm McLane Company; underwear maker Fruit of the Loom; carpet manufacturer Shaw Industries; Duracell batteries and the Dairy Queen chain of fast food restaurants.


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