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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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"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.5 U5 S1 g8 V' s
0 b9 x8 }6 b9 l9 s7 }3 ?5 kSince 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.) @& Z- Y$ w& A) O0 }$ H0 y5 Y- l
k' C( J/ u& k7 i0 B* v. B- I"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.% G/ C w" @! h ~
+ W# r9 S; ~7 \& D; K Z, ] S"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?": {0 X8 ^# ]2 P+ \: s' V
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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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- ]( u. B$ ~3 ?: ` |7 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.
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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.
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: b7 }9 R6 C! Z7 Z, kDayang Trands has 20 outlets in 11 cities across China.% H5 t% o/ V8 f
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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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