To: kemble s. matter who wrote (34378 ) 3/14/1998 6:21:00 PM From: Chuzzlewit Read Replies (3) | Respond to
Kemble, Buffet is the icon of the buy and holders. His philosophy produces excellent results. It's just not the kind of approach that's suitable to the hi-tech world. Let's take an example. You could have bought IBM in the early 60's and made a lot of money for awhile. But gradually, IBM lost its technological leadership. By the mid to late 70's it was viewed as a stodgy company with old technology. The hot area became the minicomputer. By the time the early 80's rolled by, IBM had a major chance to reinvent itself with the PC. But it dropped the ball! By the mid 80's companies like Compaq were firmly established as the technological and marketing leaders of the computer world. By the end of the decade IBM began a long slide into what almost appeared to be technological irrelevance. During this same period the minis began their fade from the scene as the microprecessor became more and more powerful.
