Warren Buffett says he made mistakes by not investing in two dominant technology companies, Alphabet in addition to Amazon.
Alphabet is actually the parent company of search engine Google.
“I made the wrong decisions on Google in addition to Amazon,” he said at the Berkshire Hathaway 2018 annual shareholder meeting on Saturday. “We’ve looked at This particular. I made the mistake in not being able to come to a conclusion where I actually felt in which at the present prices in which the prospects were far better than the prices indicated.”
This particular took Microsoft co-founder Bill Gates to tell him to stop using Altavista as a search engine in addition to use Google instead, he said. in addition to he should have been more aware because Berkshire subsidiary Geico was paying Google “a lot of money” at the time of its initial public offering.
The Oracle of Omaha also admitted he underestimated Amazon’s ability to disrupt retail in addition to cloud computing at the same time with such a rapid pace.
“I had very very very high opinion of Jeff’s [Jeff Bezos, CEO of Amazon] ability when I first him, in addition to I underestimated him,” he added. “I’ve watched Amazon coming from the start. I think what Jeff Bezos has done is actually something close to a miracle … The problem is actually when I think something will be a miracle, I tend not to bet on This particular. This particular would likely have been far better obviously if I had some insights into certain businesses.”