He didn't change his mind about being unable to predict the outcomes of technology companies at all. In fact, he reinforced that very statement in discussing ha

He didn't change his mind about being unable to predict the outcomes of technology companies at all. In fact, he reinforced that very statement in discussing having purchased IBM. He bought IBM because, in his own words, he no longer considers it an unpredictable technology company (subject to changing trends), but rather a company that services infrastructure, like a plumber. He sees an IBM that is no longer highly subject to unexpected shifts in technology. They're more like Accenture than the IBM of 1980 at this point. He didn't change, IBM did. It's why you won't see him doing very many more tech investments. Intel is a far more curious investment on his part than IBM, but it was a piddling investment compared to IBM. He was right about newspapers, and he's breaking his own rules. He'll buy almost anything at the right price, and that's the case here, he's buying a cigar butt. The greatest thing about Buffett is his unwillingness to change. It's his dedication to not changing his principles that has kept him from blowing up as most do over such a long duration. Instead he tries to follow the same strict capital allocation rules that work over and over and over again, and always will.