X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Of world's richest men and their words - Views on News from Equitymaster
 
 
  • PRINT
  • E-MAIL
  • FEEDBACK
  • A  A  A
  • May 5, 2008

    Of world's richest men and their words

    Three of the world's richest men are in news these days, directly or indirectly. While the only Indian amongst them, Mukesh Ambani has been featured in Forbes for the US$ 2 bn palatial home that he is building in Mumbai, the other two - Bill Gates (Microsoft) and Warren Buffett (Berkshire Hathaway) are occupying news space and mind space for the corporate developments taking place in their respective companies. Let us talk about Bill Gates first.

    Mr. Gates' company, Microsoft has withdrawn its offer for rival Yahoo, citing that the consideration demanded by the latter 'does not make sense'. As a matter of fact, Microsoft had bid for the Internet business' second largest player in January this year, for a consideration of US$ 45 bn. However, after much deliberation internally, and taking into account Yahoo asking for a further US$ 5 bn (which Microsoft believes defies economics), the latter has withdrawn its bid for the former.

    Readers would do well to note that Microsoft has been trying to break Google's hegemony in the Internet domain but has actually struggled to compete with the latter for billions of dollars of advertising shifting to the Web. Post this Yahoo episode, Microsoft's management has indicated that they will continue to pursue an aggressive strategy in the Internet space, even if it were to be done individually.

    Now, coming to Warren Buffett, the legendary investor, in his company Berkshire Hathaway's annual general meeting, has asked investors to 'think small'. As sourced from CNN's financial website, Buffett has made a simple point to investors - "As an investor, you don't need to predict the economic cycle (or even pay much attention to it). Instead, you should focus on evaluating individual businesses if you pick your own stocks."

  • Read our analyses of Warren Buffett's letters to shareholders

    When asked as to what were his views on the US economy, he indicated of having no clue and said that he did not care about it either. He said "I haven't the faintest idea. We never talk about it, it never comes up in our board meetings or other discussions. We're not in that business [of economic forecasting]. We don't know how to be in that business. If we knew where the economy was going, we'd do nothing but play the S&P futures market." So much has been the humility of this man who has indeed been one of the greatest investors the world has ever seen.

    And when asked about his views on Berkshire Hathaway, he said, "We think Berkshire is an attractive investment [at today's price]. We don't think it's the most attractive in the world." Some lessons for the corporate chieftains who harp about how their company's stock is the most attractive investment opportunity an investor can buy into.

     

     

    Equitymaster requests your view! Post a comment on "Of world's richest men and their words". Click here!

      
     

    More Views on News

    How to Ride Alongside India's Best Fund Managers (The 5 Minute Wrapup)

    Jun 10, 2017

    Forty Indian investing gurus, as worthy of imitation as the legendary Peter Lynch, can help you get rich in the stock market.

    You've Heard of Timeless Books... Ever Heard of Timeless Stocks? (The 5 Minute Wrapup)

    Aug 19, 2017

    Ever heard of Lindy Effect? Find out how you can use it to pick timeless stocks.

    Why NOW Is the WORST Time for Index Investing (The 5 Minute Wrapup)

    Aug 18, 2017

    Buying the index now will hardly help make money in stocks even in ten years.

    Trump Takes a Beating (Vivek Kaul's Diary)

    Aug 18, 2017

    Donald J Trump, a wrasslin' fan, took a 'Holy Sh*t!' blow on Tuesday.

    How To Read Your Mutual Fund Account Statement Correctly (Outside View)

    Aug 17, 2017

    PersonalFN simplifies the mutual fund account statement for you.

    More Views on News

    Most Popular

    Demonetisation Barely Made Any Difference to Tax Collections(Vivek Kaul's Diary)

    Aug 7, 2017

    The data tells us quite a different story from the one the government is trying to project.

    A 'Backdoor' to Multibaggers: It's Like Investing in Asian Paints Ten Years Ago(The 5 Minute Wrapup)

    Aug 10, 2017

    Don't miss these proxy bets on growing companies or in a few years you will be looking back with regret.

    Should You Invest In Bharat-22 ETF? Know Here...(Outside View)

    Aug 8, 2017

    Bharat-22 is one of the most diverse ETFs offered so far by the Government. Know here if you should invest...

    Signs of Life in the India VIX(Daily Profit Hunter)

    Aug 12, 2017

    The India VIX is up 36% in the last week. Fear has gone up but is still low by historical standards.

    7 Financial Gifts For Your Sister This Raksha Bandhan(Outside View)

    Aug 7, 2017

    Raksha Bandhan signifies the brother-sister bond. Here are 7 thoughtful financial gifts for sisters...

    More
    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
  •  

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms

    S&P BSE SENSEX


    Aug 18, 2017 (Close)

    MARKET STATS