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The "Oracle of Omaha" has spoken again, and this time a Chinese suit maker is reaping the rewards.
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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.
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- S* V! a# P) Y"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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9 x2 V8 `0 h" G2 z/ u+ c2 {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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"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.0 W* @: g5 G( H6 B0 i% s/ b. ?
& h; C7 e3 V0 V a) u: X* [* J"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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7 A0 O' ^8 A5 L" O r: q. EAccording to Forbes magazine Gates and Buffett have net worth of 40 billion and 37 billion dollars, respectively.* M: Z3 `0 a5 y9 N; ]9 ?+ H8 v! Z
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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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9 z# E4 o8 k: w5 j9 ~. c; ZApart from that, the company "does not have any disclosable business relationship" with the US billionaire investor or his firm Berkshire Hathaway, the statement said.& e z i' \: o9 p3 N7 w
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Dayang Trands has 20 outlets in 11 cities across China.8 ^0 `6 C5 J' H, z3 N
. H$ }" {/ `; E+ ]. VBuffett 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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