Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) first took a position in VeriSign, Inc. (VRSN) in 2013. Despite it being a technology stock, an area Mr. Buffett has historically shied away from, he (or his lieutenants) knows VeriSign is a safe stock with very limited downside and plenty of upside long-term.
Background
Through agreements with not-for-profit Internet watchdog Internet Corporation for Assigned Names and Numbers (ICANN) and the US Department of Commerce, VeriSign has gained exclusive rights to manage the .com and .net domain registers worldwide (also they manage the .cc, .tv, and .name registers, but I will focus on the two big ones). They also manage the infrastructure behind these registers.
