AutoBeta(AutoBeta.net)02/15 Report--

More than a decade ago, under Charlie Munger's "persuasion", Buffett made an uproar in the investment community. Berkshire bought 225 million BYD shares at HK $8 per share, with a total transaction value of HK $1.8 billion, accounting for 9.89% of the expanded share capital.

Berkshire has not sold a single share of BYD over the years and has repeatedly "praised" BYD in public. Recently, Buffett's golden partner praised BYD, saying that "BYD will become the largest electric car company" and satirized Tesla CEO Musk's "arrogance".

Buffett's longtime partner Charlie Munger attended the shareholders' meeting of newspaper company Daily Journal on Thursday, where he praised China and BYD, saying that China offers more opportunities than the United States, such as BYD will become more powerful in electric cars. "I visited BYD in China and found that talking about electric cars is very active, and BYD will become the largest electric car company," Munger said.

At the meeting, Munger also insinuated that Musk caused a roar of laughter, at which a shareholder representative mentioned Munger's well-known law of employment. "if a person thinks his IQ is 120, but it is actually 130, then this is a good choice; if a person has an IQ of 170, but thinks his IQ is 250, then this will be a disaster." Munger replied directly, "you're talking about Musk."

Munger, Buffett's old partner and vice chairman of Berkshire Hathaway, has created one investment myth after another in his 60-year cooperation with Buffett. In 2008, Berkshire bought 9.89% of BYD at a cost of HK $1.8 billion. Ten years later, Wang Chuanfu and his cousin Mr. Lu Xiangyang hold a total of 33.06% of the company in terms of shareholding structure. Berkshire still has the unity of management and ownership. Berkshire accounts for 8.25% of the expanded equity and is the only Chinese company it has invested in for a long time.

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