Australia doesnt have the non durable goods companies like in the US, P&G, Colgate, Snickers, Coke, Gillette. Companies he knows that will be around.
He avoided the tech boom. Would he avoid the mining boom?
Buffett says he buys into companies that he understands, and has good management.
All the everyday houshold items in Australia are all US based. Johnson Johnson, P&G, McDonalds etc etc.
So what would he buy? Is Australias main industry mining and resources?
If he doesnt understand technology stocks, IBM, Microsoft, Apple...
How would he understand the mining industry??
Its a total different ball game in australia isnt it.