Warren Buffett admits that he knows nothing about technology yet he repeatedly comments on it. He only recently started buying into Apple because he didnt grasp how a gadget company could have any staying power.
The guy knows a lot about valuation investing..I give him that. Yet he has no clue about technology or what is driving the world.
Valuation as a tool to buy things is going out the window. The days of looking at a company and determining what the ROE was on the plant are gone. Today we deal with ever changing technology which disrupts total industries.
What makes me laugh is Musk didnt like the rates that the insurers were giving Tesla drivers so he decided to set it up himself. If he does it, watch the others follow suit. That will take a bite out of Buffett's cash cow, GEICO.