Berkshire Hathaway CEO Greg Abel Just Took a Page Out of Warren Buffett's Playbook, Plowing $930 Million Into a 'Wonderful Company at a Fair Price'

Berkshire Hathaway CEO Greg Abel has invested $930 million in Bending Spoons, a digital business roll-up company, following Warren Buffett's philosophy of buying wonderful companies at fair prices. Berkshire invested $600 million in Bending Spoons' IPO in July and an additional $330 million recently, bringing its stake to about 4%. The company has acquired 50 businesses including AOL, Eventbrite, and Vimeo, with strong Q2 results showing 126% revenue growth and 163% EPS growth. However, the stock now trades at $54.50 (up from $29-$33 IPO price) at a valuation of 39x forward earnings, making it less of a bargain despite solid fundamentals.