INSUBCONTINENT EXCLUSIVE:
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
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
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.
