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Howard Marks & Andrew Marks: Something of Value
Acquired
Investing in Technology
Buffett's critique includes his ignorance of the technology sector, which he considered as science projects. While he believed in technical advantage for business success, technology companies often rely on similar moats as non-technology businesses. This highlights the dichotomy in investing, where one should stick to their expertise while being open-minded to change. Successful investors require a balance of confidence to back investments and humility to avoid overconfidence. Concentrating holdings on a few good ideas is important, but diversification is needed to mitigate risks.
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