Charlie Munger, business partner of billionaire Warren Buffett, said Saturday the two are “ashamed” of not having invested in Google, which has become one of the world’s most valuable companies.
Buffett’s Berkshire Hathaway empire, of which Munger is vice president, recently took a stake in Amazon and has a $40 billion stake in Apple, but has generally steered clear of the technology sector.
“We are ashamed,” Munger, 95, told a shareholder at the annual Berkshire meeting in Omaha, when asked about the absence of an investment in Google.
“We just sat there sucking our thumbs,” Munger said.
“We screwed up,” he said, without indicating whether Berkshire Hathaway aimed to catch up now.