In the late 1990s Warren Buffett avoided tech stocks and was labelled a dinosaur.
He underperformed the index for quite a few years until the tech bubble burst spectacularly - he came out looking brilliant.
It is even more revealing that he now owns a large chunk of IBM.
He bought a railway in 2009, which has turned out to be a brilliant cash generator.
Currently Berkshire Hathaway owns nearly 10% of Coca Cola, which is worth $20 billion.
This at a time when everyone is moving away from soda drinks, especially those that are high in sugar.
Scroll down for quotes from the video below.
His share price has halved twice since 1965.— Warren Ingram, 702/CapeTalk's resident personal finance expert
A railway is the most natural monopoly there is.— Warren Ingram, 702/CapeTalk's resident personal finance expert
He got tackled for investing in Coca Cola.— Warren Ingram, 702/CapeTalk's resident personal finance expert
Buffett, if he was living in South Africa right now, with the incredible negativity, he would not have sent his money out of the country.— Warren Ingram, 702/CapeTalk's resident personal finance expert
Here's the audio version of the interview...
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