Berkshire buying Amazon shares is a wake-up call for retail investors, says this portfolio manager
There will be no coasting into the weekend, with Friday looking like a kitchen-sink kind of day for investors.
“Investors think that because a share is trading at an all-time high and has a market cap of a trillion dollars, Berkshire wouldn’t be buying Amazon,“ he said. “When we were buying at $350 we thought it was high.” And another lesson from the Sage of Omaha? It also may be time for value investors to change their thinking a little. Berkshire has long stuck to companies that are considered less risky, with slow and steady growth, like American Express and Coca-Cola. That’s as opposed to growth stocks, companies with strong momentum like Amazon and Apple, which Berkshire also dipped into back in 2017 for the first time. Both those stocks though, have value qualities, argues Lotter.
Europe stocks SXXP, +0.50% are mostly higher as a batch of companies report. Asian equities had a cautious session, with China and Japan stocks still out for a holiday. The buzz Wild about non-meat. Plant-based meat maker Beyond Meat BYND, +5.86% is up another 13% after shares soared 163% in its Wall Street debut on Thursday, the biggest IPO pop since 2000.Facebook FB, +0.72% is building a cryptocurrency-based payments system, says The Wall Street Journal, citing sources.
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