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Authors: Super UserNEW DELHI: It's not only investors, even market gurus swear by Warren Buffett's words of wisdom.
Warren Buffett arrived at the venue amid cheers and excitement as the huge gathering readied to listen to him.
As Omaha readies for Warren Buffett's address to Berkshire Hathaway shareholders at the annual general meeting, market experts from across the globe are flying in to the largest city in Nebraska, US, to hear the Saint of Omaha first hand.
Buffett often uses this speech to share his ideas and perspectives on investment opportunities and state of the world economy.
Some 42,000 people are attending the AGM today, ETNow reported.
Market pundit Raamdeo Agrawal of Motilal Oswal, an avid Warren Buffett follower, is in Omaha like every year along with a large team from his brokerage and fund house.
As many as 90 Indians will are attend the event, up from 60 last year, ETNow reported.
Investors are seeking a 'new thought process' in the current situation, Agrawal told Tanvir Gill of ETNow ahead of Buffett's Berkshire address.
How far will the markets go, what could be the new sources of risks, what does Buffett have to say on valuations will be matters of interest, Agrawal said.
In the past, Buffett said if interest rates stay low, one can justify valuations.
But that situation is changing fast.
It is difficult to create so much excitement around a business.
Berkshire Hathaway's AGM is like a 'mela', you can't miss it, says Samir Arora, founder fund manager at Singapore-based Helios Capital.
"Whatever he will say, you can sit at home and see it.
But it is still not the same thing," Arora said.
In February, Buffett said ample availability of extraordinarily cheap debt fuelled purchase activity in stock market in 2017.
A high-priced deal will usually boost per-share earnings if it is debt-financed, he argued.
“At Berkshire, we evaluate acquisitions on an all-equity basis, knowing that our taste for overall debt is very low," Buffett said.
Arora said 'believe in equities' is his favourite mantra from Buffett.
He said investors will keenly await for any announcement on Buffett's successor.
The legendary investor is unlikely to connect the prevailing macros with micro factors, Arora told ETNow.
Buffett always believes in long-term prospects of equities, he added.
Sanjay Bakshi , Managing Partner in ValueQuest Capital LLP and an Adjunct Professor at Management Development Institute, Gurugram, too is in Omaha.
Meanwhile, billionaire investor Mario Gabelli of Gamco Investors, said at Omaha that Indian stocks need to be brought to Buffett's attention.
Gabelli told ETNow India looks an attractive market due to its strong macros and recent government reforms.
But Raamdeo feels Buffett is unlikely to speak too much on emerging markets in his address.
