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Why Buffett turned tech

Buffett & Munger2017-05-06video1:37Open original ↗

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SpeakersQuestioner1Warren1
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QuestionerYou have said smartphones are too smart for you. You don't have a computer at your desk. And you've only tweeted nine times in the last four years. It was either that or going to a monastery. Despite this, you've recently been investing, looking, and talking more about tech companies. My question to you, and also to Charlie, to comment, is what turned you from the Oracle of Omaha to the tech maveno of Omaha.
WarrenWell, I don't think I would, I don't think I've talked that much about tech companies, but the truth is we made a large investment in IBM, I made a large investment in IBM, which has not turned out that well. We haven't lost money, but in terms of the bull market we've been in, it's been a significant laggard. And then, fairly recently, we took a large position in Apple, which I I do regard as more a consumer goods company in terms of certain economic characteristics, although that, you know, it has a huge tech component in terms of what that product can do or what other people might come along to do to leapfrog it in some way. But I think I'll end up being, no guarantees, but I think I'll end up being one for two instead of over two, but we'll find out.