Why Warren Buffett is betting big on IBM (and not Google, Microsoft or HP)
Warren Buffett always avoided tech investments, finding the long-term business models anywhere from speculative to dubious. Until this year. In an interview Monday on CNBC, Buffett revealed that his investment firm, Berkshire Hathaway Inc., has purchased $10.7 billion in shares of IBM since March, giving the company a 5.4% stake in Big Blue. So what made the legendary billionaire investor lay down a huge bet on Big Blue? It all started when he read IBM's annual report this year -- something Buffett says he has done every year for the past 50 years. This time, though, he had an epiphany.