Lord_Majestic - 2:20 pm on Aug 24, 2004 (gmt 0)

Buffett is very conservative in that area.

Indeed, he is known to invest into companies that produce "real" things like Gillette (his famous decision to invest in companies that produce "blades"), year after year he shown that he made right long term bets. Not suprising because (AFAIK gain) he decides on whether to invest by looking at balance sheets, and having zero real stuff on balance sheet is certainly won't be helping.