The Buffett/Graham model still works because it minimizes the risk of investing in an emerging technology company that goes out of business. As Buffett himself once said: "If I'm not comfortable holding a stock for ten years, I don't want to own it for ten minutes." There's a lot of wisdom to that.
One of the smartest investors I know was an ardent believer in the future of e-commerce as far back as the late 1990s. And yet he never had any dot-com stocks in his private equity fund. I once asked him why this was the case, and his answer was a great one. He said: "I don't know which of these companies is going to thrive and which are going to be out of business in five years. So I invest in the companies that will do well in a growing e-commerce world regardless of what happens with the individual players."
His top picks for his "e-commerce portfolio" were FedEx and UPS.
Very true...which is why I buy ETFs of the tech sector. Take QQQ for example.
Have done this for many years.