Warren Buffett’s Take: Investing in Industries vs. Companies
During this interview with Dr. George Athanassakos and Ivey MBA and HBA students, Warren Buffett discusses the challenges of picking individual pharmaceutical companies due to the uncertainty of future competition.
He suggests that investing in a group of pharma companies, if reasonably priced, is a better approach since some drugs will always be in demand.
Buffett admits he cannot predict individual winners but believes the industry as a whole offers good returns. He emphasizes that the market already accounts for pipeline developments and that focusing on the broader industry rather than specific companies makes more sense for non-experts.
Here’s an excerpt from the interview:
Buffett: The question is, how do you pick a…
