'It Was A Stupid Mistake,' Warren Buffett Regrets Not Investing In Amazon, Google & Microsoft

Earlier this month, billionaire Warren Buffett described tech giant Apple as his company Berkshire Hathaway's best business in the investment portfolio.

But when it comes to Apple's big rivals such as Google, Microsoft and the e-commerce giant Amazon, Warren Buffett admitted his big regret and mistake.

When Warren Buffett Admitted His 'Mistake'

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At Berkshire Hathaway¡¯s annual shareholder meeting a few years ago in Omaha, chairman Warren Buffett called his decision to pass on (and not invest in) Amazon and Google a mistake. A shareholder then rose from the audience to ask: If Buffett regrets turning down those companies, does he feel the same way about not investing in Microsoft?

It was a fair question, made only slightly awkward by the fact that Microsoft founder, Berkshire board member, and longtime Buffett pal Bill Gates was seated about 15 feet from the dais where the Oracle of Omaha was holding court.

¡°In the earlier years, it¡¯s very clear¡ªthe answer is stupidity,¡± Buffett said, as per the American news website Quartz's report.

Buffett, who has been famously sceptical of tech stocks, also said it took him too long to recognise Apple as a consumer products company rather than a tech one. But there will be no such catch-up play for Microsoft.

These days, Warren Buffett said, ¡°It just would be a mistake for Berkshire to buy Microsoft.¡±

Also Read: How A Lost iPhone Led To Warren Buffett Investing Billions In Apple

Reason For Not Investing In Friend Bill Gates' Company?

getty

He went on to explain: "If something happened a week later, a month later, in terms of [Microsoft] having better earnings than expected or making an acquisition¡ªanything¡ªboth Bill and I would, incorrectly, but would be a target of suggestions and accusations, perhaps even that somehow he had told me something, or vice versa.

I try to stay away from a few things just totally because the inference would be drawn that we might have talked. . . There¡¯d be a lot of people who wouldn¡¯t believe us if something good immediately happened after we bought it."

For the unversed, Warren Buffett and Bill Gates have had a long and close friendship and frequently team up to spearhead philanthropic efforts, play golf, test mattresses, and conduct other typical billionaire activities. It makes sense that he¡¯d want to avoid the suggestion of insider trading, the report mentioned.

Also Read: 10 Inspirational Quotes From Warren Buffett

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