Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Opinion / Investing in tech
BackBack

Investing in tech

The rapidity of technology's evolution and the unpredictability of public attitudes mean it can take unforeseen tangents

Warren Buffett has said that he did a mistake by not investing in technology stocks such as Amazon and Google. Photo: BloombergPremium
Warren Buffett has said that he did a mistake by not investing in technology stocks such as Amazon and Google. Photo: Bloomberg

Every year, thousands of Berkshire Hathaway Inc. shareholders trek to its annual meeting to listen to perhaps the world’s most storied investor, Warren Buffett. During this year’s meeting on Saturday, Buffett spoke at some length about his famous reluctance to invest in the technology sector and how it led him to miss out on investing in companies like Amazon and Google.

Buffett’s caution is understandable. Consider the publishing industry. Until a few years ago, the decline of traditional print publishers and the ascendance of e-books was a given. The numbers bore it out. But now they’re telling a different tale. The sale of e-books declined in the US and UK in 2016 while sales of physical books grew. Some of the same counter-intuitive return to the physical space can be seen in retail.

All of which goes to show that technology is not always linear. The rapidity of its evolution and the unpredictability of public attitudes mean it can take unforeseen tangents. Little wonder even the Oracle of Omaha is cautious.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 May 2017, 12:13 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App