3 ms·
> I wouldn't listen to his opinion on Bitcoin. He doesn't even pretend to understand it. People said the same thing back in 1999 when he said he does not under
by sumedh 9y ago
> I wouldn't listen to his opinion on Bitcoin. He doesn't even pretend to understand it.
People said the same thing back in 1999 when he said he does not understand the tech boom and cannot figure out the winners from losers so he is going to ignore it.
People called him a dinosaur because he did not understand tech and you know what happened next. Most tech companies went bankrupt.
- rusk 9y agoDinosaur is a fair summation of Buffet's approach to investment. He's built his wealth on shying away from risk, identifying stable low-growth sectors and sinking his capital there. Very old fashioned and unsexy but pure sense.
- diego 9y agoAnd? The wealth created by the tech boom was immense and we have Google, Facebook and Amazon as some of the largest companies ever. You made my point.
- sumedh 9y agoThe wealth destruction was immense too, looks like you forgot the losers of the tech boom like pets.com and kozmo.com and many others. That was Buffett's point you could not pick out the winners beforehand. Now do you understand the point?