Warren Buffet is able to be EXTREMELY objective in his investments. Ruthless, actually. When the value is not there, he sells. He tends to invest in very well run companies that are established or even blue chip already that he believes will grow even more over time. He would NEVER invest in a stock that he could say with a straight face that he thinks will appreciate 40X in a year, because such a stock would be closer to a lottery ticket than an investment. That is an absolute certainty, because they are reasonably mature when he gets to them.