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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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! y& ?- P$ F, a: K; X& aShares 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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* |2 o$ @( x1 @. z; o"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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( K. m) \' j" j( a5 c* ]* K+ @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.9 r5 ^9 E z+ B$ R! H! J
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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., F g3 n: m$ D0 \& t; D }% b4 h/ t: S ^
- {$ S7 [1 G3 \ k3 j- z"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?"! Z$ f# W4 m ^) C$ o! R N# v D
6 I* J1 }5 Q/ J0 j! J0 VAccording to Forbes magazine Gates and Buffett have net worth of 40 billion and 37 billion dollars, respectively.
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( I, }3 n- I+ jDayang 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.& n: ~- w' b3 f/ K/ H
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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.6 K- J7 R! S2 x
* d1 G: b: r1 \& i' `1 EDayang Trands has 20 outlets in 11 cities across China.
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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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