Warren Buffett Just Revealed He -- Not Greg Abel -- Made Berkshire's Big Alphabet Bet. Should You Follow Him In?
The conviction belongs to Buffett. But is the oracle of Omaha right?
Overview
When Berkshire Hathaway revealed a large Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) position last year, the easy assumption was that new CEO Greg Abel was behind it. Warren Buffett, after all, had spent decades steering clear of big technology bets outside of Apple.
On Wednesday, Buffett set the record straight. "I initiated it," he told CNBC, adding that not buying the search giant sooner was a mistake.
Details
It was a candid admission from an investor who rarely second-guesses himself in public. And it landed as the stock traded near an all-time high, up about 3% on the day and more than double where it sat a year ago.
Source
Originally published at www.fool.com.
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