3 Tech Stocks Warren Buffett Admits He's Made Mistakes On
Warren Buffett is known for his incredible stock-picking abilities and for outperforming the market for not only years, but decades. But that doesn't mean he hasn't made his share of mistakes over time.Buffett normally focuses on investing in areas that are in his circle of competence. While financial stocks and businesses involved with consumer goods are staples within the Berkshire Hathaway portfolio, tech stocks aren't nearly as common. And there are three tech stocks he says he's made mistakes on in the past: Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), and International Business Machines (NYSE: IBM). Here's a closer look at where Buffett went wrong on these stocks, and whether they can be good buys right now.Buffett is a fan of Amazon founder Jeff Bezos but admits that he underestimated the opportunity that the tech company could capitalize on in the future. In an interview with CNBC several years ago, Buffett said he was "too dumb" to see the potential for Amazon, and for the business to become as big as it is today. Continue reading
Warren Buffett is known for his incredible stock-picking abilities and for outperforming the market for not only years, but decades. But that doesn't mean he hasn't made his share of mistakes over time.
Buffett normally focuses on investing in areas that are in his circle of competence. While financial stocks and businesses involved with consumer goods are staples within the Berkshire Hathaway portfolio, tech stocks aren't nearly as common. And there are three tech stocks he says he's made mistakes on in the past: Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), and International Business Machines (NYSE: IBM). Here's a closer look at where Buffett went wrong on these stocks, and whether they can be good buys right now.
Buffett is a fan of Amazon founder Jeff Bezos but admits that he underestimated the opportunity that the tech company could capitalize on in the future. In an interview with CNBC several years ago, Buffett said he was "too dumb" to see the potential for Amazon, and for the business to become as big as it is today.
