From The Snowball: "Buffett understood the basics of computers perfectly well. But he would not consider buying a technology stock at any price. 'When it comes to Microsoft and Intel,' he said, 'I know know what the world will look like ten years from now. And I don't want to play in a game where the other guy has an advantage."
This was, I believe, in 1999, so a) he was right at the time coughpets.comcough and b) it's been more than the aforementioned decade, so maybe he has a better idea of what the world looks like now.
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From The Snowball: "Buffett understood the basics of computers perfectly well. But he would not consider buying a technology stock at any price. 'When it comes to Microsoft and Intel,' he said, 'I know know what the world will look like ten years from now. And I don't want to play in a game where the other guy has an advantage."
This was, I believe, in 1999, so a) he was right at the time coughpets.comcough and b) it's been more than the aforementioned decade, so maybe he has a better idea of what the world looks like now.
Regardless, interesting point.