Warren Buffett And Charlie Munger Had To Sit On The Sidelines Even Though They Witnessed Google's Power—B

Years after Warren Buffett and Charlie Munger lamented missing out on Google's rise, Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) seems to be making up for lost time with another massive investment in Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL).

Buffett And Munger Once Called Missing Google A Major Mistake

At Berkshire Hathaway's 2019 annual shareholder meeting, the investing duo admitted they failed to recognize one of the biggest opportunities in tech despite seeing evidence of Google's strength firsthand.

Munger said he had little regret about missing Amazon.com Inc. (NASDAQ:AMZN) early on but viewed failing to recognize Google's potential sooner as one of his biggest investing mistakes. Buffett agreed with the assessment.

The regret stemmed partly from Berkshire-owned insurer Geico's experience using Google advertising. Buffett said the company could directly see how effective the ads were and how profitable the business model appeared.