Warren Buffett’s annual bash for Berkshire Hathaway Inc
Finding the next big thing is hard
The Berkshire chief executive officer spoke at length Saturday about his failure to pounce on opportunities in tech stocks
Buffett, 86, said the Republican health plan that cleared the House of Representatives was sure to help the wealthy, and the billionaire reiterated his view that society needs to do more to help people he called “roadkill” because they get left behind by capitalism.
For most of his career, Buffett avoided technology stocks, saying the companies were outside his expertise. On Saturday, however, he issued a mea culpa for being too late to spot their potential.
Buffett said his analysis on Apple differed from IBM, in part because the iPhone maker is more of a consumer-products company.
They went through “a litany of trends they missed, mistakes they made,” Wallman said. “I’ve never seen them exhibit so much vulnerability.”