Wednesday, April 20, 2011

Warren Buffet: I Don't Have to be Smart About Everything

Recently, you made an investment in BYD, which is new and clean technologies and electric vehicles. How do you see this change of pace toward more of technology and clean energy?
Fortunately, I have a partner who is lot smarter than I am. My partner Charlie Munger, who is 87 and going very strong, understands a lot of the aspects of technology. So, BYD was his idea and I have never made a mistake following Charlie.

I am not good at tech matters but I have got a lot of people who are. I don’t have to be smart about everything; I didn’t deliver my wife’s baby! So, I believe in using people who are smarter than I am and it is not very hard to find the number that are and certainly in the tech field. I just don’t have that ability but I am reasonably good at spotting the people who do have that ability. We do not want to do anything that curbs the enthusiasm, the innovativeness of the people who work with us and we get the best people, and when you get the best people and you let them go, you get the best result.

What convinced you to enter India now? 
I have some pretty convincing associates, including Eitan Wertheimer of Iscar Metalworking and Ajit Jain. Bill Gates too joined in and said he would like to meet me over here. But the reason I am here is because of TaeguTec [part of Iscar Metalworking]. 

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