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Warren Buffett Makes Bank From China's BYD

Warren Buffett Makes Bank From China's BYD

By Richard Read's avatar Richard ReadRichard Read August 5th, 2009

Warren Buffett

Warren Buffett

Enlarge Photo

In The Graduate, the future was all about plastics. From Warren Buffett's perspective, however, the future may be all about China: everyone's favorite eccentric investor recently made a $230 million investment in Chinese automaker BYD, and now, just ten months later, BYD's stock price has soared, and Buffett's shares are worth $1.02 billion. Even better (for China): when the public learned of Buffett's bellwether investment, Hong Kong's Hang Seng index jumped 10%. We'll see how Buffett feels about HUMMER and Volvo when/if they make their alleged transpacific voyage. [Reuters]

Warren BuffettEnlarge Photo In The Graduate, the future was all about plastics. From Warren Buffett's perspective, however, the future may be all about China: everyone's favorite eccentric investor recently made a $230 million investment in Chinese automaker BYD, and now, just ten months later, BYD's stock price has soared, and Buffett's shares are worth $1.02 billion. Even better (for China): when the public learned of Buffett's bellwether investment, Hong Kong's Hang Seng index jumped 10%. We'll see how Buffett feels about HUMMER and Volvo when/if they make their alleged transpacific voyage. [Reuters]

Tags: China



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