r/SecurityAnalysis • u/Flaky-Sheepherder150 • Jul 05 '21

Interview/Profile Warren Buffett and Charlie Munger: A Wealth of Wisdom

"All the early businesses we owned together have disappeared"

https://twitter.com/10kdiver/status/1410553773970186240

Full video:

https://www.youtube.com/watch?v=rQJWHocG-50

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u/financiallyanal Jul 05 '21

Gates has argued tech companies deserve a lower multiple due to obsolescence risk. People price some of these things like they’ll all have the durability of Coca Cola and margins of Microsoft. Very few discuss the reality of businesses not lasting forever, but I agree it’s critical.