If by “success,” you mean less negative growth than other companies (for the stock, that is), I would say that, of course, the iphone has helped AT&T stay afloat, but it certainly is no crutch. AT&T’s success is based on the size of its network and its number of customers. After all, in general, people are not running to the store to get the latest iphone when they’re out of a job, as has recently been the case.

And yes, I do predict AT&T to be a great stable, long term investment. T’s high yield and potential for growth significantly outweighs its risks, even if Nexus were to become the best selling smart phone.

As for Berkshire Hathaway, I’ll need to do some research before I can respond in depth. But as a preliminary comment, I’d say that although it is a GOOD investment, it is not a reliable one. Often when investors are presented with uncertainty (e.g., the company’s management), stock prices see greater volatility. As I’m sure you can guess, the portfolios I manage do not have close to enough funds in order to invest in Berkshire Hathaway, so I must admit that I don’t know much about Buffet’s company as of now.

And I forgot to cite my source in my last comment: like always, Scottrade.