Warren Buffet
In the world’s ultra-wealthy people Warren Buffet is the third man. He is a big mate of Bill Gates and he swore he would never invest in technology because he simply did not understand how it worked. That was then. Now is now.
Berkshire Hathaway — which is, to all intents and purposes Warren Buffet — has invested in BYD, a Chinese producer of rechargeable batteries, electric cars and car parts. It seems Berkshire Hathaway has bought a 10% stake in the firm.
Immediately the value of the shares surged 70% — Warren Buffet is buying 225 million of them therefore, by definition, they are a good buy.
Berkshire Hathaway is the Omaha investment firm led by the investor Warren Buffett, holding stakes in insurance and finance, utilities and energy, manufacturing, retailing and services and now, for the first time that can be ascertained, technology.
BYD’s Website says the company’s 130,000 workers produce information-technology products including nickel-cadmium and lithium-ion rechargeable batteries, mobile-phone displays, keypads and housings and laptop-computer keypads.
Source: MarketWatch