Investor Warren Buffett's net worth has surpassed $81 billion and yet, for all his business success, the self-made billionaire still regrets some missed opportunities. One of them is not investing in Amazon when he had the chance.
At Berkshire Hathaway's annual meeting in May, Buffett said he wished he had chosen Amazon as his value tech stock instead of IBM. As he then told CNBC, he was "too dumb" to have seen the potential in the e-commerce giant.
He largely avoided newer tech stocks such as Amazon and Google because he didn't fully appreciate their value. "That's cost people a lot of money at Berkshire," he said.
In retrospect, Buffett realized, "I did not think [founder Jeff Bezos] could succeed on the scale he has. [I] underestimated the brilliance of the execution."