The New Buffettology
How Warren Buffett Got and Stayed Rich in Markets Like This and How You Can Too!
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Using Warren's Investment Methods to Avoid the Next High-Tech Massacre
Now that you have Warren's concept of durability in your head, let's diverge from our path for a moment and discuss why Warren doesn't invest in transforming industries like the Internet.
Warren believes that many investors get caught up in the visions of grandeur that accompany new industries that promise to reshape and transform society. Other transforming industries have caught investors' imaginations -- the radio, automobile, airline, and biotech industries. All sparked investors' dreams of immediate wealth, which in turn caused a massive run-up in share prices as the investing public went wild pumping money into them. This of course created higher share prices, which vindicated the investors' decisions and serves as an enticement to invest even more. Many people see others getting rich and they too join the game, which sends stock prices soaring even higher. This process often continues until economic reality is left far behind. But it can't ... read full excerpt from The New Buffettology: The Proven Techniques for Investing Successfully in Changing Markets That Have Made Warren Buffett the World's Most Famous Inves ebook