Warren Buffett Is Behind Berkshire Hathaway's Massive Alphabet Investment. Here's What He Likes About the Company.
Alphabet has become one of Berkshire's biggest investments based on this simple idea.
Overview
Last year, Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) made a big investment that seemed out of place to many investors who follow the company and its chairman, Warren Buffett, closely. The company bought about $4 billion worth of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL).
The size of the investment suggested Buffett, who historically avoids technology stocks, was behind the purchase. Since Greg Abel took over as CEO at the start of the year, he has made Alphabet one of Berkshire's largest investments, putting another $23 billion (or more) into the stock. So, it was reasonable to think Abel had used his influence to initiate the position last year.
Details
But Buffett put any speculating to rest. "I initiated it," he disclosed in a recent interview with CNBC. And while he dodged further questions on his investment thesis on Alphabet, he provided an indication of what he's looking for in an investment. Here's what he likes about Alphabet.
Source
Originally published at www.fool.com.