He's been investing since the 50s. How many times in his long career could someone have told him "the world is fundamentally different now, and your old strateg

He's been investing since the 50s. How many times in his long career could someone have told him "the world is fundamentally different now, and your old strategies won't work"? Many times. The fundamental business of Berkshire Hathaway is this: get cheap cash (float) from the insurance business and use it to buy high-quality companies. Berkshire's inflow of cheap cash is unrivaled, and it has an extremely good reputation as an acquirer. In the "new, diminished age," I think those factors are even more important.