He is widely regarded as one of the most successful investors in the world. Often called the "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is consistently ranked among the world's wealthiest people. Buffett is called the "Oracle of Omaha" or the "Sage of Omaha" and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Gates Foundation. He also serves as a member of the board of trustees at Grinnell College. Its nothing like an ordinary introduction to an Extra-Ordinary man finally on his maiden visit to India. Here on we try to analyse up-to a deep level, the prospects and opportunities he comes along with and also his critical remarks on the Indian Economy.
"US economy is improving"
"The more India and China prosper, the better for US"
"Do not consider India as emerging Market. India is much bigger."
"Ajit Jain (currently heads several reinsurance businesses for Berkshire Hathaway) has made more money for Berkshire than I have"
As for his company's Acquisitions in India, Warren Buffett said his conglomerate Berkshire Hathaway would look at possible acquisitions as and when there were opportunities. "This is a country (India) on the move", the legendary investor said at an interactive session organised by the Confederation of Indian Industry (CII).
Berkshire Hathaway has most of its investments in the US. The conglomerate had recently forayed into the Indian non-life insurance sector as a corporate agent of Bajaj Allianz General. On Tuesday, Buffett said his company continued to look at large countries like India because it needs to make "large commitments". "India is the logical place to look. So, I hope I spend some money here (India)," he had said. Praising India and China, he said both the countries were "exploding" in terms of opening up human potential. It's not as if the two countries are working harder than before; it's just that they are working smarter, and responding to the needs of their societies, he added.
My take->
Definitely a significant change in the attitude of Indians for the better has finally attracted Mr. Buffett to one of the biggest markets in the world, the one with sole 3.35% share in the world's Market-Cap. More to come on this visit. Thank you!
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