The Oracle Has Landed
The Oracle of Omaha has landed in Europe. Specifically, Warren Buffett has put down initially in Germany.
In fact, Germany could prove rich hunting ground for Buffett and Berkshire. Press reports, such as this one from Bloomberg, state that most businesses in Germany are family-owned. They started after WWII and the founders are now reaching the stage -- and age -- where succession issues are becoming paramount.
This means some may be willing to cash out -- which brings us to Buffett. And Buffett to Germany on the start of his European tour.
Incidentally, some time back I wrote about private equity firms such as portfolio holding 3i Group (III/LN) buying some of the family-owned businesses in Germany. Some in Germany called these private equity firms "locusts" and slammed Anglo-Saxon capitalism.
It will be interesting to see if anyone on the Continent refers to Mr. Buffett in such a manner.