The most expensive half-sentence in market history, and Warren Buffett wrote the other half

There was a time when anybody could see that the motor car was going to change the world. Later, the same was obvious about aircraft. Later still, about television sets. Every one of those forecasts turned out to be correct. And almost every company that entered those industries was destroyed anyway. Even the survivors, in Warren Buffett’s words, came away bleeding.He raises this point in one of his most instructive letters, and it is the