Monday, May 08, 2017

Buffett Says His IBM Thesis Was Flawed, He Blew It on Google - Bloomberg

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"Buffett said time will tell about whether his recent wager on Apple is smarter than the 2011 IBM investment. He stressed that the companies have different types of customers, so each stock requires unique analysis.

“They are two different types of decisions, and I was wrong on the first one,” Buffett said. “We’ll find out whether I’m right or wrong on the second.”

Munger said it was a “very good sign” that Buffett jumped into Apple.

“It shows either one of two things: Either you’ve gone crazy, or you’re learning,” Munger said. “I prefer the learning explanation.”"
Buffett Says His IBM Thesis Was Flawed, He Blew It on Google - Bloomberg
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