Warren Buffett is always looking for great investments like every other billionaire. But one thing he has is rarely seen among others – his camaraderie. He is already best friend’s with Bill Gates and now he complimented Jeff Bezos of Amazon, who recently sold his 1 percent of his Amazon shares for over $671 million.
Warren Buffett still lives in his old house and reads voraciously. He knows a tough businessman when he sees one. The growth of AMaazon has surprised him and especially the executing and decision-making ability, of Jeff Bezos. He says it would it a tough nut to crack if anyone is trying to compete with Amazon. I think he is hinting at AliBaba, the company Jack Ma started.
Billionaires are known for their eccentricity but Warren Buffett is different. He admits that his investing company has been late adopters of internet based businesses but they are catching up. With the internet penetration and reduced sales numbers in traditional stores, it is the age of e-commerce and Amazon is the leader.
Warren Buffett calls Amazon’s Jeff Bezos an intelligent man who has inspired them to start e-commerce ventures. His investments in Costco and Walmart have suffered as stocks of Amazon have been rising consistently. He quoted,”Berkshire eventually jumped online with both feet and is now “well situated” digitally in all its businesses — not just retail.”
He says even with $64.8 billion in his banks, he cannot out-Bezos. Amazon’s CEO is behind him in this number, but his venture Amazon is still ahead of other retailers and e-tailers for that matter.
What do you think about Warren Buffet’s compliment? Are you a Jeff Bezos admirer like Buffett too?