Buffett's Berkshire Hathaway invests in Amazon

Channel: Fox Business
Published: 2 hours ago

Description
FBN's Liz Claman on Berkshire Hathaway's investment in Amazon and some of the highlights from the upcoming coverage of the Berkshire Hathaway shareholders meeting. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main ...



Transcript
And will you look now at berkshire hathaway, that is warren buffett's company look also at amazon, which one of his people, one of warren's people, has been buying amazon stock. That'S a significant vote of confidence in amazon. If you ask me - and it's now up 57 dollars a share liz claman come on in please you're, holding the weekend with warren. Are you going to ask him which one of his people w ...
s buying amazon? Okay, i'm gon na make a wild guess here. I think it was todd combs. You know he has ted wexler and todd combs who are in charge of this 210 billion dollar stock portfolio and, of course, as you heard last night fromcnbc getting the news that clearly warren buffett said one of them has bought amazon. I ran into todd combs last night here and he looked like the cat that ate the canary. He looked very happy. They don't give away anything in their faces or in their words or in their gestures. But i know for a fact: it is not the warren buffett who we know who would have ever bought amazon. Here'S. Why stewart that stocks price to earnings ratio is 81.

That is crazy. That makes it a very, very expensive stock. Warren buffett has always said. You know amazon's an incredible company. I missed the boat it's too expensive now, one of his two peoplehas, of course bought it now. Why is this mattering at the moment? Well, watch amazon because, while it is up 57 bucks earlier this morning, the high, i believe up 65 bucks, but then people are realizing. Wait. A minute, wasn't really warren buffett who pulled the trigger on this stock speaking of stock berkshire hathaway stock? As you look at that, which i believe it's around two hundred and ninety thousand dollars per share, that's because it's never split over the 54 years that has been public. That stock is really up only about 6 % year-to-date and for the s & p 500. That'S up 13, 14, 15 percent, so it's underperforming at the moment and that's what we're goingto be talking about all day long, but we are also going to be talking to everybody inside we have your press pass and if you peek over my shoulder here, you can See the lines are even beginning right now, though, the doors do not open for another. Nearly two hours, please keep in mind today, isn't even the shareholder meeting stuart. This is just hey, come on in and see what warren buffett's some 90 companies have for sale.

Of course he owns dairy queen and fruit of the loom and all these other companies that they sell their stuff here so they're running in to get that act away. The real feel of what's going on onthe floor, but you don't need to come to omaha. We'Ve got it here. Coming up 3:00 p. m. eastern we've got warren buffett's, kids, suzy, howard peter we've got governor pete ricketts. This state is in a state of emergency due to the floods. Governor ricketts is going to be speaking with us, mario gabelli and ron peltier. He is the ceo of home services of america, one of berkshire's companies, stewart, the largest residential real estate company in america, warren buffett's done it nope three o'clock this afternoon, liz claman everyone. Thank you, liz! We'Ll see you soon. Thank you.



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