I am reading Warren Buffett’s Biography Snowball on my Kindle2 and it has been a great read so far. Buffet and his best friend, Charlie Munger, are amazing businessmen. I am about 30% through the book but I have noticed that the majority of Buffett’s early successful investments might be because of the fact that information was not as easily available as it is now.
For example, the death of Michael Jackson was spread throughout the Internet within minutes of the information being posted. Google went down, CNN was down, as was the LA Times websites because so many people were looking for the latest information. The velocity and availability of information today is amazing. With so much information available, is it possible for a another “kid from Omaha” to be able to find the gems of undervalued stocks that no one else sees? In the 1960′s Buffett was visiting companies, researching, and making moves based on information that although public, no one was able to easily find.
With everything being one search away, will we still have the capability to profit from the difficulty of finding information? I don’t have the answer but it makes me wonder about the availability of data within our organizations. As Searching becomes the new process to find information, enterprises will start deploying search engines internally that index and find data throughout the enterprise network.
Once that happens it will be a sweet pot of gold for an attacker =)
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