Welcome to a new series of articles at The Smart Investor.
The Get Smart in 60 seconds series meant to be like an espresso shot, a concentrated article dedicated to the Smart Investor on the go, with ideas or concepts delivered in 200 words or less.
Ready for the first one? Let’s go …
Microsoft’s Powerpoint is 32 years old.
Apple’s Macintosh is 35 years old.
Adobe’s PDF format is 26 years old.
Tell that to the next investor who says that the tech sector changes too fast. In response, they could come back and cite Warren Buffett’s aversion to tech stocks.
Well, Buffett’s largest stock position today, by far, is Apple (NASDAQ: AAPL).
Adapt or die
Buffett credits the late Ben Graham as his mentor. But Buffett’s right-hand man, Charlie Munger, believes that Buffett has evolved far beyond his original roots.
Buffett is a learning machine.
30 years ago, he invested in airline operator USAir Group. He held the stock for five painful years before throwing in the towel. The experience left a mark. As recent as 2013, he disparaged airlines as death traps for investors.
Yet, in 2016, he poured US$10 billion into airline operators. He noted that the competitive landscape has changed.
Buffett learns, he adapts. So, it’s not a surprise to see Buffett evolving as an investor again. Embracing tech companies. He adapted. And we should too.
The Oracle of Omaha turns 90 years old next year. He is not about to stop learning. Neither should we.
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None of the information in this article can be constituted as financial, investment, or other professional advice. It is only intended to provide education. Speak with a professional before making important decisions about your money, your professional life, or even your personal life. Disclosure: Chin Hui Leong owns shares of Apple and Adobe.