- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Buffett's Wealth and Fame Hasn't Helped 'Warren' As a Name
- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University
- Warren Buffett to CNBC: Curbing Fed's Independence Could Lead to 'Mischief'
- Warren Buffett to Co-Chair Goldman Sachs Program to Help Small Businesses
- Warren Buffett: 'Reasonable Return is Good Enough' for Long-Haul Railroad Ride
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- Warren Buffett's Berkshire Portfolio Snapshot Coming Later Today
- Warren Buffett to CNBC: 'I Haven't Bought American Express In Years'
RSS FEED
MOST SHARED
- Chinese Overcapacity is Worsening, EU Chamber Warns
- Gold Retreats from New High Above $1,194
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- The Executive Job Search
- China Unveils Carbon Target Ahead of Copenhagen
- Hyundai-Kia Targets Rapid China Growth in 2010
- Black Friday: Bargain or Bust?
- Wal-Mart Price Pressure Hurts China Workers: Report
- Trader Talk
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
- US Companies Already Moving on Cutting Emissions
- Fannie Mae to Tighten Lending Standards: Report
- Share Trading on London Stock Exchange Resumes
- China Overcapacity Worsening, EU Chamber Warns
- Investing in Good Karma – and Making a Profit
- UK Retail Sales Pick Up in Nov., Strong Dec. Seen
- Black Friday to Avoid Red Ink; Greenback Gets the Blues
- Wal-Mart Price Pressure Hurts China Workers: Report
- Bankruptcies Jump, Hitting Highest Level in Four Years
Warren Buffett Watch
Text Size 
 |
I spoke with Zhao by telephone late tonight. He told me his investment philosophy is very similar to Buffett's and he has "lots of questions" to ask him. He's especially interested in Buffett's opinion on China and its economy, in light of the fact that country has "grown up" very quickly.
An article in Asia Times Online last February described Zhao as an early investor in China's class-A shares, who liquidated all five of his firm's mainland funds to lock in profits from that market's enormous gains. That decision, says Asia Times, was "like a stone thrown into a quiet lake" because Zhao had been praised for establishing a China fund in 2004 "when the market at the time was dominated by bears."
Zhao told me he decided to sell when price to earnings ratios grew too high and he started having trouble finding "cheap and good" stocks.
Zhao says he sold before Buffett's own decision to eliminate his stake in PetroChina last fall based on its massive price appreciation.
Pure Heart's website includes a page on its investment philosophy headlined "Abandon Pure Technical Analysis and Adhere to Company Fundamentals."
Glide is also a big winner tonight as it gets 100 percent of the proceeds from the eBay Charity Works auction. The incredible bid is more than three times bigger than last year's then-record $650,100 paid by investors Mohnish Pabrai and Guy Spiers. They collected their prize earlier this week.
Glide, described by Buffett in a live interview with CNBC this week as a "marvelous, marvelous" organization, will use the money to further its mission of helping the city's poor and homeless. Buffett praises Glide's founder, Cecil Williams, as a "remarkable man" who brings hope to "people the world has given up on."
In a statement late tonight, Williams is quoted as saying:
"I have been moved with deep, heartfelt experiences. Warren Buffett's expression of commitment and dedication go beyond amazing. It almost feels like a miracle. We are amazed and ready to continue our work of breaking the cycles of poverty. Thank you, Warren Buffett, for your deep compassion and sensitivity that empowers us to transform the lives of so many people in need."
Berkshire Hathaway's current price: [US;BRK.A
Loading...
()
]
See Warren Buffett Watch on CNBC's The Call, most weekday mornings at 11:50a ET
Questions? Comments? Email me at
Data is a real-time snapshot *Data is delayed at least 15 minutes