Motley Fool: Olympic Growth At A School Sports-Day Price

Like Hermann Goering’s reaction to ‘culture’, when I hear the word ‘software’ I reach for my gun. The similarity ends there — I don’t own a Browning 640b pistol and neither did I preside over the humiliating defeat of the Luftwaffe against an air force one third the size. Just as well, I’m never very good with enraged fascist megalomaniacs.

The reason I avoid investing in go-ahead technology outfits is that my pre money-grabbing career was in that very area. I’ve often seen a laughable underestimation of the difficulty of getting something completely right. I’ve been guilty of it myself. The pace of change in the industry makes female fashion look like the fossil record, and that reduces visibility of earnings….

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