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The "Oracle of Omaha" has spoken again, and this time a Chinese suit maker is reaping the rewards.( k9 C& s$ f# c0 e, l2 \# z
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Shares in Dayang Trands have soared by more than 70 percent in less than a month since billionaire Warren Buffett said he and Microsoft founder Bill Gates, the world's two richest men, wore the company's suits., ^& F- J. L+ B: j: ^' o: i$ w
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"I have to tell you that I now have nine suits all made in China. I threw away the rest of my suits," the 79-year-old Buffett said in a video posted on the website of Dayang Trands, based in the northeastern port city of Dalian.
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; B0 N- D4 C/ F0 a$ ESince the video was posted on August 25, the company's shares have surged nearly 72 percent -- from 8.55 yuan then to a close of 14.67 yuan on Thursday.
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"It's been a long time since I got compliments on how I looked. But since I'm wearing Madam Li's suits, I get compliments all the time," Buffett said in the video, referring to Dayang's chairwoman Li Guilian./ D# ~- j2 d* N
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"So maybe Bill and I could start a clothing store and ... if we sold suits made by Dayang Trands, someday we might even be rich, who knows?"
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- i1 w5 b; g, AAccording to Forbes magazine Gates and Buffett have net worth of 40 billion and 37 billion dollars, respectively. p- M$ ^: Z2 i5 e- G
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Dayang Trands said in a statement filed with the Shanghai stock exchange Wednesday that Buffett was only a client -- not an investor -- and the video was recorded to congratulate the company on its 30th anniversary.
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' v. i) e5 Y' g* ^/ GApart from that, the company "does not have any disclosable business relationship" with the US billionaire investor or his firm Berkshire Hathaway, the statement said.$ a. i$ B* y2 p" m% G" Z, J/ s
/ U: ?8 r' s, a2 v# RDayang Trands has 20 outlets in 11 cities across China.9 h% B9 j( E0 u. S3 _
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Buffett is known as the "Oracle of Omaha" for his astute investment decisions. In China, he has been dubbed the "God of Stocks". |
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