<p>Sure enough, the billionaire and legendary investment guru and the third richest man in the world had plenty to offer to prospective investors, who bet their money on stocks, here on Tuesday.<br /><br /> “Invest in what you understand, don’t speculate. Always be on the look out for companies which will have sustainable economic advantage over a period of time,” said Buffett, globally known for his long-term investment strategies. <br /><br />His philosophy has always been “buying better” and, more importantly, knowing the sector thoroughly well before the investment.<br /><br />The affable octogenarian was at his charming best, answering questions with wit and wisdom, at an interaction with reporters.<br /><br />Buffett shared his investment insights when he pointed out that it was imperative to know the sector well and be convinced about its growth prospects. He always looked for an opportunity to invest if an idea is working fine. He told investors to focus on long-term gains. <br /><br />The setbacks<br /><br />Of course, he had his share of setbacks. “I, too, have taken risks and misjudged the future of a company I invested in and have misread several companies and lost money. That’s the big danger. However, I try to analyse the durability of the business that interests me before I actively invest,” Buffett said.<br /><br />Sometimes there are good investment opportunities in crises. He recently said many Japanese companies are now available cheap and are ripe for picking. <br /><br />Buffett said there are several winners in Indian IT companies. But he does not know much about them. And he is more comfortable with a chewing gum or coke company than an IT major. Buffett was in Bangalore on the occasion of Taegu Tec India Pvt Ltd completing its decade of operations in India. Taegu is a leading flagship brand under the IMC Group in which Buffett's Berkshire Hathaway is a majority stakeholder. Buffett will address a Confederation of Indian Industry round table here on Wednesday.</p>
<p>Sure enough, the billionaire and legendary investment guru and the third richest man in the world had plenty to offer to prospective investors, who bet their money on stocks, here on Tuesday.<br /><br /> “Invest in what you understand, don’t speculate. Always be on the look out for companies which will have sustainable economic advantage over a period of time,” said Buffett, globally known for his long-term investment strategies. <br /><br />His philosophy has always been “buying better” and, more importantly, knowing the sector thoroughly well before the investment.<br /><br />The affable octogenarian was at his charming best, answering questions with wit and wisdom, at an interaction with reporters.<br /><br />Buffett shared his investment insights when he pointed out that it was imperative to know the sector well and be convinced about its growth prospects. He always looked for an opportunity to invest if an idea is working fine. He told investors to focus on long-term gains. <br /><br />The setbacks<br /><br />Of course, he had his share of setbacks. “I, too, have taken risks and misjudged the future of a company I invested in and have misread several companies and lost money. That’s the big danger. However, I try to analyse the durability of the business that interests me before I actively invest,” Buffett said.<br /><br />Sometimes there are good investment opportunities in crises. He recently said many Japanese companies are now available cheap and are ripe for picking. <br /><br />Buffett said there are several winners in Indian IT companies. But he does not know much about them. And he is more comfortable with a chewing gum or coke company than an IT major. Buffett was in Bangalore on the occasion of Taegu Tec India Pvt Ltd completing its decade of operations in India. Taegu is a leading flagship brand under the IMC Group in which Buffett's Berkshire Hathaway is a majority stakeholder. Buffett will address a Confederation of Indian Industry round table here on Wednesday.</p>
