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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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3 R3 c1 z2 N% C* `1 K( A9 mShares 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.! U! L3 ]0 L8 E5 U3 Y! E8 G
+ Q& p2 U/ h7 S" x$ t' n( K uSince 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.
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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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3 q1 A# x: i3 C3 z9 r; W. {According to Forbes magazine Gates and Buffett have net worth of 40 billion and 37 billion dollars, respectively.0 I, ^! w' M( V0 O, D
; w( F* Y+ o' ^1 H. I2 PDayang 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.2 v# ^7 T! A; x- J- F P
& o5 z$ j! Q* {, oApart from that, the company "does not have any disclosable business relationship" with the US billionaire investor or his firm Berkshire Hathaway, the statement said.4 N: h2 l. F) u# g$ o( \. [
3 m7 @0 k5 b, ^: E& ZDayang 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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