Warren Buffett's Successor, Greg Abel, Dumped Amazon and Bought 3 Million Shares of This Undervalued Stock

Greg Abel took over from Warren Buffett as CEO of Berkshire Hathaway at the beginning of the year. His first quarter at the helm was eventful. Abel and his team closed several positions while buying shares in new companies. Some of his choices were not surprising. For instance, Apple remains Berkshire Hathaway's largest holding, which everyone expected. Another decision the conglomerate made that may seem odd at first but actually makes sense is the choice to get rid of Amazon (NASDAQ: AMZN).Image source: Getty Images.Amazon is a leader in e-commerce and cloud computing. It provides exposure to several other markets. The company's revenue and earnings are growing at a good clip, and it has attractive long-term prospects across several niches in which it competes. Further, Amazon benefits from a wide moat from its brand name, network effects, and switching costs. All of these factors (and more) arguably make the stock an attractive long-term bet and one that, to some extent, aligns with the criteria prominent in the Buffett school of investing.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool