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Hi, I agree with him, '' Autos and streaming services couldn't be more different. They have high costs and no real brand power despite all efforts to gin it up. They live at the center of a maelstrom of change. There's no moat. Paramount Global (PARA), the streaming service Berkshire owns, just cut its dividend, a bad sign in Buffett's view and major evidence that it is a poor investment. The short version is that Apple is a wonderful business while autos and streamers of entertainment are horrible businesses.
So why hasn't Buffett sold Berkshire's position in Paramount? The probable reason is that it wasn't Buffett but one of his two lieutenants who bought it. I'll have more to say on this later.''
