Mar 24, 2011

Warren Buffet in India and what he said

Warren Buffet, the world renowned investor, on his visit to India talked about various things. Following is summary of his interviews,
Buffett started his visit on 22nd March, 2011 in India.
Buffets’s visit marks the entry of Berkshire Hathaway the holding company of several businesses, insurance being main business; the alliance with Bajaj-Allianze Insurance.
Berkshire India, a majority-owned unit of Berkshire Hathaway Inc. has been incorporated to sell and distribute general insurance products in India through their online distribution portal.
Berkshire India will sell insurance directly to the consumer by utilizing the internet portal (berkshireinsurance. com) and tele-marketing. Initially, the focus will be on Motor Insurance, but the Company will continuously update its business model to meet the needs of the fast evolving Indian insurance sector.
He will also engage with Bill Gates, in a ‘Giving Pledge’ drive, meet Wealthy Indians.

Warren Buffet in India and what he said:
He said, business men should not get tempted away to diversify and run into more businesses because boredom and excess cash. It I better that they focus on their businesses in expanding them.
He also mentioned that now when Berkshire Hathaway is USD200 Bln Company, so they would look for big acquisition than smaller ones. They will think how to get to USD300 or USD400 bln mark.