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Warren Buffett Makes Bank From China's BYD

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Warren Buffett

Warren Buffett

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In The Graduate, the future was all about plastics. From Warren Buffett's perspective, however, the future may be all about China: everyone's favorite eccentric investor recently made a $230 million investment in Chinese automaker BYD, and now, just ten months later, BYD's stock price has soared, and Buffett's shares are worth $1.02 billion. Even better (for China): when the public learned of Buffett's bellwether investment, Hong Kong's Hang Seng index jumped 10%. We'll see how Buffett feels about HUMMER and Volvo when/if they make their alleged transpacific voyage. [Reuters]

 
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