7 May, 2018
Last week we have spoken about Warren Buffett’s dislike for Bitcoin and the whole cryptocurrency world. Fine… it is not that he doesn’t like it, he simply “does not understand it.”
CNBC Reporter Becky Quick said Buffett referred to Bitcoin at the Berkshire Hathaway annual shareholder meeting as “rat poison squared.”
But hey ladies and gentlemen! This is Warren Buffett we are talking about here. Probably, one of the most successful, influential and well-known investors of the modern world.
And while he might not be fit to tell us if Bitcoin makes a better case than Ethereum for a long position, he is absolutely capable of doing so when it comes to stocks and commodities.
The Berkshire Hathaway annual shareholder meeting held on Sunday was a good opportunity to get an eye on what the old wise man is looking at for the immediate future.
"From our standpoint we would love to see Apple go down in price," he said at the Berkshire Hathaway 2018 annual shareholder meeting on Saturday. "We very much approve of them repurchasing shares."
The CEO of Berkshire admitted increasing its stake on Apple by 75 million shares during the first quarter of 2018 to the 165.3 million shares already owned. The current portion makes it one of the tech heavyweight largest shareholders.
Buffett also took a moment to apologize for taking wrong decisions when it came to investing on Amazon and Google. Apparently, the Oracle of Omaha passed on big opportunities due to his believe that understanding the business one is investing on is a necessary requirement.
“I had a very very very high opinion of [Jeff Bezos’s] ability when I first met him, and I underestimated him, [...] I’ve watched Amazon from the start. I think what Jeff Bezos has done is something close to a miracle [...] the problem is when I think something will be a miracle, I tend not to bet on it.”
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