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The "Oracle of Omaha" has spoken again, and this time a Chinese suit maker is reaping the rewards.4 x! e3 s- r4 n' `- Y" M: g& ]8 t
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5 y9 G' s9 f0 P9 D6 mShares 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.
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% L( d; M* ~- H4 S( V; G4 f"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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+ J& Z H# d X$ L% u' H6 xSince 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.2 h9 b: R2 s$ z9 D
8 j* {6 @7 U; j8 a+ r"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.; l" H2 e' Q" ?( h- Y* b6 r' @
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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?"3 S8 ~4 l$ ?) V5 ?. g
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According to Forbes magazine Gates and Buffett have net worth of 40 billion and 37 billion dollars, respectively. O0 k" E1 t/ P+ L
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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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) e! P- G+ I) m/ Q* cApart from that, the company "does not have any disclosable business relationship" with the US billionaire investor or his firm Berkshire Hathaway, the statement said.- ?4 f: ^- h. U6 V
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Dayang Trands has 20 outlets in 11 cities across China., s% f" v4 u) A' B* F5 s# O
) ~+ a" g; z( A! Y+ }$ j6 lBuffett 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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