Like blooming flowers, the sudden viral spread of rosé, and young people acting like horned-up animals, people with gather in Omaha, Nebraska tomorrow to celebrate another rite of spring: The Berkshire Hathaway Annual Meeting.
And what with the Coachella for finance geeks being just hours away, we are also basking in the hotel buffet heating lamp glow of another annual tradition; business media's two day-long overindulgence in Warren Buffett opinion porn. The days leading up to Berkshire's earnings report and annual meeting are like a bacchanalia for Buffett groupies, with hot takes about and from The Oracle popping up everywhere. And much like how the man himself feels about vanilla soft-serve ice cream, Old Warren never disappoints.
But sometimes Jimmy Buffett's biological father goes above and beyond, like when he talks about his white-hot bro crush on Amazon CEO Jeff Bezos:
Warren Buffett, the world's second richest man, told CNBC that Amazon founder Jeff Bezos, the world's third richest, is "the most remarkable business person of our age."
"I've never seen a guy succeed in two businesses almost simultaneously that are really quite divergent in terms of customers and all the operations," Buffett said, citing Amazon's success in cloud computing and its dominant position in online retailing.
"I can't think of another example like it," said the chairman and CEO Berkshire Hathaway, who is never shy about his praise of Bezos.
And why wouldn't Warren love Jeff? Buffett likes that old-school value investing, and Bezos enjoys burning money to kill his enemies and also build space rockets. It's a match made in valuation heaven.
But will Uncle Warren be crushing on Bezos so hard when he sees that Jeff is coming for that #2 spot?
Amazon.com Inc. Chief Executive Officer Jeff Bezos sold about $1 billion in company stock as part of a planned divestiture, a month after the world’s third-richest man said he spends about that amount annually on his space exploration company Blue Origin LLC.
Bezos sold 1 million shares from Tuesday to Thursday ranging in price from about $935 to $950 per share, according to a regulatory filing on Thursday. He still owns 79.9 million shares, or about 17 percent of the company, down from 83 million shares at the end of 2015.
Oh, these totemic capitalists and their dark flirtations.