No question Buffet is an extremely smart man, his success is a function of seeing the market through clear eyes, even as old as he is still has the vision. Buffet sicks to the basics and does not get ruffled by "irrational exhubrance" or trying to keep up with the Jones" or in this case Gates. Just look at the guy he lives in the same small house longer than Gates has been alive. Buffet understands the tech market, regardless of what he says, he also understands that the future is so uncertain that he's not taking the risk. Buffets day to kick butt will come soon, the economy is very artificially inflated right now, Warren is just "working the room" right now just waiting for the right time to go out like a shark and buy low and hoooooooooollllllldddd. No matter what anyone says about the tech sector and Warren being an old man who doesn't understand computers, its the business fundamentals "bread and butter basics" that all companies survive on.