The Berkshire Philosophy on Intellectual Capital

Berkshire has no company-wide policy, and we have no money to unburntsly anything that I can think of except send money to Omaha. We are not in the business of designing oil refineries with armies of engineers or developing software with armies doing complicated accounting work all over the world. And intellectual capital has gotten to be a new buzzword because we've now developed huge businesses like Microsoft. If you get that combination and you're in a decent business, you can own the world.