08/21/18

The Wizard of Omaha and Tech

Big Red Car here on a lovely, sunny Texas day, y’all. Hope it is going well for you and yours.

I always like to take a peek at what Warren Buffet owns as it relates to stocks. It is often an eye opener. It is often pretty damn plain vanilla and boring, but something caught my eye.

Buffett famously has eschewed investing in technology suggesting that there is a limited longevity and defensibility of the competitive advantage for tech based companies and that it is very difficult to identify the big winners at a time when their stock price is reasonable. This was his view back in 1999 when Forbes interviewed him for an excellent article. Take a second and consider that statement. This from a guy who has to deploy $200B in stocks.

Image result for images warren buffett

“My name is Warren Buffett. I’m 84 and I’ve been at this investing business for a long time. Don’t be blowing smoke up my ass about bitcoin and cryptocurrency. I was in business when the US was on the God damn gold standard.”

He and noted venture capitalist Marc Andreesson had a pithy exchange about the future of bitcoin. When Buffett called it a “mirage” Andreeson countered that Buffett “…was just an old white guy crapping on a technology he didn’t understand.” [I see no reason why Buffett’s ethnicity was germane to the discussion, do you?]

Buffet has long been quoted as saying, “All you people piling into dot-com stocks must be much smarter than I am, because I just don’t get it.”

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01/3/17

Bitcoin $2,100 — Prediction 2017

Bitcoin, Big Red Car — I thought you were a huge skeptic as it pertains to bitcoin. What gives?

Big Red Car here in Steamboat Springs where the temperature is a balmy 15F, brrrr! OK, I’m not really there, The Boss is. Me and the house sitter are in the wonderful ATX wherein we are headed for an afternoon of cruising with the top down. It’s going to be sunny and 75F. Haha, I love the ATX, y’all.

So, I was eavesdropping on a convo between The Boss and one of his confidants.

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11/6/15

Skeptic, Denier, Opponent?

Big Red Car here on a slightly cloudy, cool ATX morning. Still, it is the ATX and it is on Earth as it is in Texas, y’all.

Today we get a bit cerebral on you meaning we are going to talk about the difference amongst skeptics, deniers, and opponents.

Not a particularly inspiring topic but a useful one. Continue reading