Gaylord Hanson of Santa Barbara, California, stood at the microphone to harangue that he had bought BRK near its highs in 1998 because of Buffett’s track record and had come out okay only because the money he’d lost had been made up by four technology stocks.15 He urged Buffett to invest at least ten percent of Berkshire’s assets in technology, “the only game in town. Isn’t there enough left in your brain power to maybe pick a few?” It was worse than humiliating. Looking out into the audience, Buffett saw that, for the first time, some of them assumed that he was letting them down: the effort
...more
