Tell the story of how Buffett was mocked as outdated~

1999: The old man being ridiculed as "outdated"~
Background: 1999 was the peak of the dot-com bubble. The NASDAQ index soared 85.6% that year, while Berkshire Hathaway’s stock price, which refused to touch tech stocks, fell 23%. This was the worst year of Buffett’s career...
Market ridicule: The famous financial magazine Barron’s published the well-known cover story: "What’s Wrong, Warren?" The article pointed out that Buffett, at 69 years old, couldn’t keep up with the fast pace of the internet economy and believed his value investing theory was already outdated in the face of the "new economy"...
Buffett’s persistence: At the famous Sun Valley Conference (July 1999), he told the tech giants: "Although the internet will change the world, that doesn’t mean internet companies can make money. Just like cars and airplanes back in the day, they changed the world, but most related companies eventually went bankrupt."
Outcome: Starting in March 2000, the NASDAQ bubble burst, and over the next three years, the NASDAQ lost 80% of its market value, while Berkshire’s stock price soared during this period...
#太阳谷会议 # Closing speech