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FEATURE: The Buffett supremacy
23 March 2010
Warren Buffett’s investments in Swiss Re and Munich Re mean he increasingly pulls the strings in the reinsurance industry. But is the revered investor’s growing influence a blessing or a curse?
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warren buffett
national indenity
general re
ajit jain
swiss re
munich re
In his Omaha-based headquarters on the 14th floor of the nondescript office block he has rented for the past 50 years, Warren Buffett does not strike the appearance a man many believe to be the greatest investor of his time. Nor does he behave in the manner of a person who has amassed a personal fortune of $47bn and is ranked the third-richest man in the world, according to Forbes’ latest rich list.
Buffett – who lives in same the house in Omaha, Nebraska that he bought in 1958 for $31,500 – subsists on a diet of hamburgers and cola, spends his days in a repetitive routine thumbing his way through newspapers and companies’ annual reports.
In Buffett’s case appearances are deceptive. Buffett, nicknamed the Oracle of Omaha because of his impressive investing prowess, has created a financial powerhouse, part industrial conglomerate, part investment vehicle and one of the biggest insurance...
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