Recently World's most-admired investors and richest celebrity businessmen Warren Buffett and Bill Gates shared the same platform while addressing students of Columbia University's Business School.
In his speech Warren Buffett opined that the 'financial panic' that gripped the world is over and the economy is getting back to normalcy. According to him the US economy is still sputtering and the unemployment statistics has touched a new low of double digit (10.2%). However there is no need for panic and the US economy is bound to bounce back in the long run as the opportunities for investment and growth is unbounded in the US, the largest economy of the world. He advised investors to invest in US firms rather than looking at other countries.
Buffett foresees a great potential for rail transport, especially for cargo, as it is fuel-efficient and more environment friendly compared to trucks which pollute the atmosphere with their gas emission. The business tycoon is emphatic that goods wagon is the futuristic mode of transport and his firm Berkshire Hathway Inc has already invested billions of dollars in railway transportation companies.
The wonder investor lauded the US Government and their financial wizards for their different measures to put back the economy on rails while cautioning them not to bulldoze the business and industries with excessive stringent measures which may prove counter productive in the long run.
Bill Gates who is also a business partner in Warren Buffett's Berkshire Hathway Inc and his bridge partner predicts good prospects for information technology, medicine and energy. The Microsoft Inc founder introspected the recent economic crisis with a candid remark "We proved that we can make mistakes... Fundamentals are continued..Even in the country’s darkest hour".
The discussions sounded open and realistic and served as a shot in the arm of the world economy.
I hope he's right. I live in the central valley of California and things are really bad here.
ReplyDeleteHave a terrific day. :)