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Software Addictions

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This story appears in the June 12, 2017 issue of Forbes. Subscribe

You could have more than quadrupled your money buying either of two big videogame companies five years ago: Electronic Arts (EA) or Activision Blizzard (ATVI). They are solid moneymakers now, but their value hangs on entertainment habits, which could change.

I think you're better off betting on software that locks people into business habits, which are harder to change. Microsoft (MSFT) and Oracle (ORCL) have their clients addicted to particular databases and office procedures. They'll be coining money long after gamers have gotten bored with Star Wars Battlefront and Destiny 2.