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The "Oracle of Omaha" has spoken again, and this time a Chinese suit maker is reaping the rewards.7 e7 p7 c3 i h/ u
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) w7 @: _0 c7 ]; WShares 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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# A/ M& l! s ^* _6 P; 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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Since 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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9 M+ r3 T9 W/ B* k"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.
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3 u% d) ~ z% j" e1 ]# l"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?": q2 i2 i! [. _' C
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According to Forbes magazine Gates and Buffett have net worth of 40 billion and 37 billion dollars, respectively.
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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.. x5 s J( I' r& ^ ~ x4 E
$ e" B+ y8 M( x( `Apart from that, the company "does not have any disclosable business relationship" with the US billionaire investor or his firm Berkshire Hathaway, the statement said.; E6 Y4 z E1 Y6 A2 i3 p1 C6 [
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Dayang Trands has 20 outlets in 11 cities across China.
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i2 a. [9 W" XBuffett 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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