party like it's 1999 If You Ask Warren Buffett, Social Networks Aren’t Worth All Those Billions 
 
 While traveling in India, Warren Buffett warned investors off the impending rash of tech companies about to go public. Buffet has had a busy trip so far, trying to both shoot his elephant gun at a potential Indian acquisition for Berkshire Hathaway while courting local billionaires to give to charity. As someone who has spent the past four decades building his company's fortune by investing in industrial, financial, and consumer-goods companies, rather than wishy-washy technology, Buffett said social networks' bonkers pre-IPO valuations seemed unsupported. Although he didn't name any specific companies, Facebook was recently valued at $65 billion on the secondary market, Twitter at $5 billion, and Groupon is rumored to try to go public with a bigger valuation than Google did. 
 
 
 
 “Most of them will be overpriced. It’s extremely difficult to value social- networking-site companies. Some will be huge winners, which will make up for the rest.” 
 
 Oh sure, the "Oracle from Omaha" says something and now you listen! 
 
 Buffett Says Social-Networking Sites Overpriced Ahead of IPOs [Bloomberg] 

 Warren Buffett, the billionaire stock picker and takeover specialist, said investors should be wary of valuations for social networking websites as some of the industry’s biggest startups prepare for initial share sales. 
 
 “Most of them will be overpriced,” Buffett, chairman and chief executive officer of Berkshire Hathaway Inc. (BRK/A), said today in New Delhi. ”It’s extremely difficult to value social- networking-site companies,” he said, without specifying companies. “Some will be huge winners, which will make up for the rest.” 
 
 Facebook Inc., owner of the most popular social-networking site, drew investors including Goldman Sachs Group Inc. in private stock sales that valued the company at $50 billion as of January. Groupon Inc., the Chicago-based daily deals site, has held talks about an initial public offering that would value it at as much as $25 billion, two people familiar with the matter said earlier this month. 
 
 Buffett, 80, has shunned technology investments in favor of industrial, financial and consumer-goods holdings in his four decades at Omaha, Nebraska-based Berkshire. 
 
 Twitter Inc. , the microblogging site, said in December that it was valued at $3.7 billion after receiving a $200 million round of funding led by venture capital firm Kleiner Perkins Caufield & Byers. The company’s value may now be closer to $5 billion, according to SharesPost Inc., a private-share exchange. 
 
 To contact the reporters on this story: Pooja Thakur in Bangalore at pthakur@bloomberg.net; Unni Krishnan in New Delhi at ukrishnan2@bloomberg.net; Andrew Frye in New York at afrye@bloomberg.net. 
 
 To contact the editors responsible for this story: Arijit Ghosh at aghosh@bloomberg.net Dan Kraut at dkraut2@bloomberg.net;
– Warren Buffett says he's just itching to make another big deal for his beloved Berkshire Hathaway, but you won't catch him frothing over the slew of initial public offerings expected in the tech world, reports Bloomberg. “Most of them will be overpriced,” said Buffett. "It’s extremely difficult to value social-networking-site companies. Some will be huge winners, which will make up for the rest." Buffett didn't name specific companies, but as the Daily Intel blog at New York notes, "Facebook was recently valued at $65 billion on the secondary market, Twitter at $5 billion, and Groupon is rumored to try to go public with a bigger valuation than Google did." Click here for more or here to read about fears of a new tech bubble.