Amazon shares jump on Buffett investment

It may seem like a reasonable response to move out of investments that are underperforming into those that are outperforming but this can destroy wealth

Buffett, 88, was pressed by questions - each greeted with a torrent of applause - about who would succeed him. Most investors tend to follow anything and everything that Warren Buffett says. "We have a group of about 25 that comes here", Per Borjesson of Sweden said. "When someone calls me from the outside with an investment idea, I'm not going to ask what their sex is", he said.

But that unsuccessful investment did not stop the company from becoming one of the biggest in the world, with a market value of more than $500 billion and with almost 400,000 employees.

The stake in Amazon is a first for the investment conglomerate. After having praised the business model of Jeff Bezos and Amazon.com Inc.

Munger also acknowledged that he and Buffett felt "ashamed" for missing the boat on Google.

Billionaire investor Warren Buffett's sprawling conglomerate Berkshire Hathaway has revealed a big profit boost after racking up a loss a year ago - but the figures exclude any hit from Kraft Heinz.

Kentucky Derby favorite ruled out of race
Mandella's dry sense of humor came out when he said, 'My wife has my leg tied down so I can't jump out of the window'. He also hit the exacta, trifecta, and superfecta at this year's Arkansas Derby , the final Kentucky Derby prep race.

Mueller criticised attorney-general's summary of Russian Federation investigation
But the lack of leadership at the White House and a failure to put the country before politics was troubling, he said. Mr Nadler had set a Wednesday deadline for Mr Barr to hand over the unredacted report and its underlying evidence.

Found no objection to list Azhar after studying revised materials: China
Geng made it plain that despite agreeing to list Azhar, China would continue to maintain its special ties with Pakistan. Since 2008, Pakistan had been blocking the move through China to enlist Masood as a global terrorist .

An ill-fated 2011 investment in IBM was Berkshire's first bet on tech and was followed five years later, and on a much larger scale, with the purchase of shares in iPhone maker Apple. Berkshire has more than 90 businesses in the railroad, insurance, retail industry, energy, and food sectors. Its annual shareholder meeting is Saturday.

Buffett's experience in investing in technology companies has not always been positive.

Buffett kicked off the day by touring the souvenir stands at CHI Health Center and mingling with the crowd of attendees, made up of leading executives, investors and billionaires from around the world.

Warren Buffett bought a majority of the Borsheim's stock in the '80s and it paid off.

This year, many Chinese delegations made the trip.

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