No, he doesn't. But as https://alphaarchitect.com/2016/10/10/value-investing-got-crushed-during-the-internet-bubble-heres-why/ https://alphaarchitect.com/2016/

No, he doesn't. But as https://alphaarchitect.com/2016/10/10/value-investing-got-crushed-during-the-internet-bubble-heres-why/ https://alphaarchitect.com/2016/10/10/value-investing-got-cr... points out, it looked rather different when Berkshire lost 44% while the NASDAQ gained 145%. Buffett stood by the strength of his reasoning. But the rest of the world didn't.