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Amor Arrows - 5 jul 09, 04:38 | Reageer | Quote | Dit is niet OK | Aanbevolen: 0
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TAisOnzin schreef:
Winning bid: US $1,680,300.00
Howdy,
Vorig jaar won 'n man uit Hong Kong, $2.100.000,-
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Winner of Lunch With Warren Buffett Gets a Windfall, By DAVID BARBOZA, July 3, 2009
SHANGHAI — A Chinese businessman named Zhao Danyang paid a record $2.1 million in a charity auction on eBay last year to win a lunch date with one of his heroes: Warren E. Buffett, the so-called Oracle of Omaha.
This was a chance to get close to the world’s greatest stock picker, Mr. Zhao says, and to pick his brain about investing, the global financial crisis and philanthropy.
But a day before the lunch, which took place on June 24 at the Smith & Wollensky steakhouse in New York City, Mr. Zhao told the media he would offer Mr. Buffett a stock tip of his own: a little-known Chinese retailer called WuMart.
“I didn’t want to influence the market,” Mr. Zhao, 37, said in a telephone interview Friday. “It was just a tip from a friend.”
But that’s not how the market reacted to it. Even before Mr. Zhao arrived for lunch, shares of WuMart were climbing. By the time he returned to China, the shares were about 25 percent higher and Mr. Zhao’s stock holdings in WuMart (which he insists will some day be China’s Wal-Mart) were worth about $16 million more.
Bloggers in China are now feasting on Mr. Zhao, who runs several investment funds in Hong Kong, pointing out how he cleverly turned what looked like an expensive $2.1 million lunch date into a short-term gain of $14 million.
“Zhao Danyang is very smart at manipulating the media,” a blogger named Lao Pi said earlier this week. “He made his own stock go up dramatically.”
But Mr. Zhao plays down the tip, saying he simply slipped Mr. Buffett a few copies of WuMart’s annual reports during a three-hour lunch of seafood and steak, with about seven or eight other guests he was allowed to bring along, including his young son.
He said Mr. Buffett, the chairman of Berkshire Hathaway, was friendly and curious about China, but probably thought nothing of the annual reports.
“I don’t think Buffett will invest in this company,” Mr. Zhao said, “Every day, he can look at thousands of companies.”
Clearly annoyed at the questions about the stock rise, Mr. Zhao insisted he had no intention of quickly dumping his WuMart shares, since he followed Mr. Buffett’s idea about investing for the long run.
But in China, at least, everyone is now talking about the $14 million lunch winnings of Mr. Zhao.
Mr. Buffett, the Oracle, could not be reached for comment Friday.
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p.s.
WUMB.MU WUMART STORES -H- Munich
WUMB.DE WUMART STORES -H- XETRA
WUMB.F WUMART STORES -H- Frankfurt
WUMB.BE WUMART STORES -H- Berlin
8277.HK WUMART Hong Kong
WUMSF.PK WUMART STORES INC Pink Sheets
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