Buffett: It's Not Easy Picking Winners

During his interview with CNBC this morning, Warren Buffett said that it's not easy picking winners.“General Motors (NYSE: GM) ruled the world when I was a young investor,” he said. “Sears (NASDAQ: SHLD) ruled the world of merchandise.”Today, however, those two entities are no longer number-one.“Know there will be winners,” Buffett said. “In media there will be huge winners. Imagine being in the mind of Facebook five years ago. But I am not the guy who can do that.”“And thankfully,” he added, “I don't have to be the guy who does that.”