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Chinese suit maker soars on Buffett endorsement

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发表于 2009-9-18 07:54 | 显示全部楼层 |阅读模式
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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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2 @! v$ J& A- \3 ~; y0 c% 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.2 k) k: B2 r, x( w

6 {/ U, e  m3 j6 l"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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2 g  V5 p& i6 d( f' ^3 U! o"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." n1 ^& h% `1 T( P
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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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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.* V+ \* M. @) x# `
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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.1 t; m0 d0 _6 a' O0 f( E

" E, N2 P  m$ k) W8 m1 l3 {+ ~4 _Dayang 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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