If IT’s so hot, why do IT chiefs not invest in IT?

There’s a nice story in today’s Hindustan Times on the personal investments made by the mega-rich IT chiefs.

Azim Premji has reportedly invested in JM Financial and Himatsinghka Seide, and is eyeing a 26 per cent stake in Devi Shetty‘s Narayana Hrudayalaya in Bangalore.

Nandan Nilekani has bought 1 per cent of Asian Paints. Jerry Rao, as befits somebody who waxes eloquent on Vidyarthi Bhavan, has bought a bit of Grover Vineyards. Satyam’s Ramalinga Raju has got into some properties and construction businesses.

Is it just a case of familiarity breeding contempt, or is it foresight and inside knowledge that prevents them from investing in the IT business?