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Warren Buffett praises Jeff Bezos — but has one word for why he hasn’t purchased Amazon shares

publish 2022-04-27,browse 6
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Warren Buffett said Jeff Bezos’ creation of Amazon has been “brilliant.” (CNBC screen grab)Warren Buffett’s billions are testament to his brains when it comes to taking the right investment bets. But when it comes to Amazon, the Berkshire Hathaway chairman had a one-word answer for why he hasn’t purchased shares of the tech giant’s stock.“Stupidity,” Buffett said during an interview Monday with CNBC’s “Squawk Box.”The same time he’s shaking up the whole retail world, he also shaking up the IT world simultaneously.“I was impressed with Jeff (Bezos) early,” Buffett said after he stopped chuckling. “I never thought he could pull off what he did. The remarkable thing about Jeff, is he’s done it in two industries almost simultaneously that really don’t have that much connection. I’ve never seen any person develop two really important industries at the same time.”

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