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Saturday, May 26, 2012

Buffett's Idiot Challenge For Ajit Jain


Ajit Jain, who helped build Berkshire Hathaway Inc. (BRK/A) into a $200 billion firm by underwriting risks that others shunned, is hunting for insurance-premium growth that his bossWarren Buffett says may be a thing of the past.
The funds that Berkshire holds before paying out claims may decline after swelling to more than $70 billion last year from $39 million in 1970, Buffett said in a February letter to shareholders. The billionaire has used the premiums, called float, for acquisitions and investments to fuel expansion over the past four decades. According to Buffett, Jain took the letter as a challenge.

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