Chairman Warren Buffett, left, on the Berkshire Hathaway Inc. annual shareholders’ assembly in Omaha, Nebraska, U.S., on May 3, 2024.
| Photo Credit: REUTERS
Billionaire investor Warren Buffett stated that the Indian market has “unexplored” alternatives which his conglomerate holding firm, Berkshire Hathaway, want to discover “in the future”.
Mr. Buffett’s remarks came at Berkshire’s annual meeting on May 3 when Rajeev Agarwal of DoorDarshi Advisors, a U.S.-based hedge fund that invests in Indian equities, asked him about the possibility of Berkshire exploring in India, the world’s fifth-largest economy.
“It is a very good question. I am sure there are loads of opportunities in countries like India,” he said.
“The question, however, is whether we have any advantage or insights into those businesses in India or any contacts that will make possible transactions that Berkshire would like to participate in. That is something a more energetic management at Berkshire could pursue,” the co-founder, chairman and CEO of Berkshire Hathaway stated.
Mr. Buffett, 93, stated Berkshire has a terrific repute around the globe. He stated, his Japanese expertise has been fascinating sufficient.
“There may be an unexplored or an unattended opportunity…but that may be something in the future,” he stated about India.
Mr. Buffett stated the query is that if Berkshire has some sort of benefit in pursuing these unattended alternatives, significantly in opposition to people who find themselves managing different individuals’s cash and getting paid based mostly on property.
During a Question and Answer session, Mr. Buffett answered a number of questions associated to a number of the key funding selections taken by Berkshire Hathway these days.
Decidedly decreasing stake in Apple was one of many key matters. Mr. Buffett clarified that it had nothing to do with the long-term view on the inventory and Apple will most likely stay certainly one of their largest holdings regardless of the current slowdown.
He additionally instructed shareholders that Vice Chairmen Greg Abel and Ajit Jain have confirmed themselves the appropriate individuals to guide Berkshire after he departs.