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Bill and Warren's excellent adventure

November 11, 2006
With stakes in energy, railroads, communications and hotels offsetting his massive technology-sector exposure, Bill Gates can teach investors a thing or two about portfolio diversification.

Gates, the chairman of computer-software giant Microsoft Corp. and the world's richest person, has a close personal and professional connection with Warren Buffett, the chairman of conglomerate Berkshire Hathaway Inc. and the world's second-richest person. Gates is on Berkshire's board, and Buffett has pledged the bulk of his personal wealth to the Bill & Melinda Gates Foundation to augment its charitable efforts.

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