Warren Buffett waited more than 50 years to make his first investment in Australia. But, in characteristic style, his patience has been rewarded.
The terms of the deal Berkshire Hathaway struck with local insurer IAG meant that a $500 million investment would give him access to $2.3 billion of premiums every year that he would deploy in the local sharemarket.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
