31 Mar '14, 1am

Bitcoin: Both Buffett and Andreessen are right

Bitcoin: Both Buffett and Andreessen are right

Essentially this disagreement can all be boiled down to the fact that Andreessen and Buffett are two different types of investors. Andreessen is a venture capital guy who makes his money by putting bets on countless long shots, and only needing to be right a fraction of the time. To know what long-shot bets you should make requires a deep knowledge of the technologies you're investing in to aid you in your forecasting of how they will change the world. But even Andreessen knows he's only going to be right a fraction of the time on an investment-by-investment basis. Buffett takes the complete opposite approach -- by either investing in mature companies with very small and hard-to-perceive advantages over their competitors, or by leveraging his reputation and access to capital to make sure bets not available to anyone else (like the stake he took in Goldman Sachs at the heig...

Full article: http://finance.fortune.cnn.com/2014/03/27/bitcoin-both-bu...

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