India Insight

With love, from Omaha: Buffett speaks from the heart

By Reuters Staff
March 23, 2011

By Sayantani Ghosh and Santosh Nadgir

Billionaire investor Warren Buffett says he loves to read biographies but would not pen one himself — because if he did so, he would make himself look like Arnold Schwarzenegger and play golf like Tiger Woods.

Speaking to executives and investors at a discussion in Bangalore organised by the Confederation of Indian Industry, Buffett said on Wednesday he loves to read newspapers but not much fiction.

“I am probably the last guy in the United States who reads newspapers and talks on the landline telephone,” he joked on the second day of his maiden visit to India.

Buffett is nicknamed the Oracle of Omaha, a reference to his prodigious skill in picking out great investments that are followed closely by investors and his Omaha, Nebraska origins.

“I have been enormously lucky,” he said, crediting his father and first wife Susan Buffett as being the biggest influences in his life.

The 80-year-old investor, however, conceded he had missed several investment opportunities.

In a remark directed at Infosys Technologies’ chief S. Gopalakrishnan, Buffett said he wished he had met the CEO 20 years ago and invested in the company.

Buffett is in Bangalore to visit the local arm of TaeguTec, a unit of Israeli metal-cutting tool maker ISCAR Metalworking, in which Berkshire Hathaway has a majority stake.

Buffett, ranked the world’s third-richest man by Forbes magazine, is also using his visit to India to encourage the country’s mega-rich to give away more of their fortune to charity.

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