Amazon.com shares boosted by Warren Buffett's comments

Warren Buffett

Warren Buffett

"Yeah, I've been a fan, and I've been an idiot for not buying" Amazon shares, Buffett said on CNBC Thursday. Buffett credited some of his conglomerate's purchases of airline stocks and Apple Inc to the deputies and noted their involvement in helping Berkshire beyond their stock-picking duties.

Combs and Weschler have gained influence at Berkshire in recent years.

Without answering directly, Buffett said Gregory Able, 57, and Ajit Jain, 67 - both promoted a year ago to the board of directors - would in the near future join him and long-time business partner Charlie Munger, 95, on the stage to answer shareholder questions.

Use of cash: Even with the Oxy deal (if it goes through) and new stake in Amazon, Berkshire still has a pile of cash, so investors will be looking for any clues for new investment opportunities.

Berkshire Hathaway is a partner with Amazon and Wall Street bank JPMorgan Chase & Co in a health venture.

Buffett's departure is likely to open a new era at the company, especially with shares of Berkshire considered to be 10 to 15 percent above their real value thanks to the billionaire's presence at the helm.

National Crisis Management Committee meets on preparedness for cyclone 'Fani'
The severe storm in southeast Bay of Bengal is expected to intensify into a very severe cyclonic storm . Aircraft of the Indian Navy are also in a state of readiness at two locations for emergency services.

Berkshire Hathaway and Amazon did not immediately respond to a Reuters request for comment.

But he decreed that not buying shares of Google was a big mistake.

Berkshire Hathaway Vice Chairman Charlie Munger walks past a crowd at the annual Berkshire shareholder shopping day in Omaha, Nebraska, U.S., May 3, 2019. One exception was International Business Machines Corp.

The $21.66 billion overall profit, or $13 209 per Class A share, compared with a year-earlier net loss of $1.14 billion, or $692 per share, and a fourth-quarter net loss of $25.39 billion. While he most often steers clear of the latest hot technology, he has since 2016 been investing heavily in iPhone maker Apple, and is now the second-largest shareholder.

We spoke to folks at Brooks Shoes, who showed off its footwear designed for shareholders, which happen to be the same ones they gave Warren Buffett.

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