PolygamousRanchKid writes: Buffett has long refused to invest in technology companies because he has said it's too difficult to predict which tech applications or hardware will prosper in the long run. He said he should have realized years sooner that the heart of IBM's business is providing service and equipment to information technology departments.
Buffett says he believes IBM has a sound plan for the future, and "there's a fair amount of presumption in many places that if you're with IBM, you stay with them," he added. Investors closely follow Berkshire's investments because of Buffett's successful record.
"And do you think (fop that I am) that I could be the Scarlet Pumpernickel?"
-- Looney Tunes, The Scarlet Pumpernickel (1950, Chuck Jones)