Warren Buffett Watched Alphabet's Stock Price Climb 9,000% Before He Decided to Invest. Here's Why He and Greg Abel Are Making It One of Berkshire Hathaway's Biggest Investments Now.
Here's why Berkshire could be buying more Alphabet shares this quarter.
Nearly a decade ago, Warren Buffett expressed regret for not investing in Google when given the chance many years prior. He had become acquainted with the business due to GEICO, Berkshire's consumer insurance arm, paying $10 or $11 per click for advertising on Alphabet-owned Google's search engine. During the 2017 shareholder meeting, Buffett admitted he had missed the opportunity, but affirmed his belief that he wouldn't bet against Google.
The company's stock experienced significant growth during the time Buffett remained outside of the market. Ultimately, Buffett decided to invest in Alphabet in the third quarter of the previous year. Since then, Buffett and newly appointed CEO Greg Abel have poured tens of billions into the stock, elevating it to one of Berkshire Hathaway's largest investments.
However, it's clear that Buffett missed out on a staggering 9,000% gain by not purchasing the stock sooner.
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