Warren Buffett's electric car
Warren Buffett hasn't just seen the car of the future, he's sitting in the driver's seat. Why he's banking on an obscure Chinese electric car company and a CEO who – no joke – drinks his own battery fluid.
[cnn-photo-caption-image=http://i2.cdn.turner.com/cnn/2009/US/04/01/electric.cars/art.chevy.volt.gi.jpg]
Marc Gunther
Fortune Magazine
Warren Buffett is famous for his rules of investing: When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact. You should invest in a business that even a fool can run, because someday a fool will. And perhaps most famously, Never invest in a business you cannot understand.
So when Buffett's friend and longtime partner in Berkshire Hathaway (BRKB), Charlie Munger, suggested early last year that they invest in BYD, an obscure Chinese battery, mobile phone, and electric car company, one might have predicted Buffett would cite rule No. 3 above. He is, after all, a man who shunned the booming U.S. tech industry during the 1990s.
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Filed under: Economy |
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Hi Cooper,
My attention was pulled by one of the speakers during the debate about Rick Warren and homosexuality. Unfortunately I did not follow up the debate but I heard one of them say the Bible says nothing about homosexuality. I do not know how much he knows about the Bible but if he can be patient enough to read these verses then he will learn more.Leviticus 20:13, Romans1:27,1Corinthians 5:9. He could research more on that in the Bible.
Thanks
That's some good advice ,and good sound investment
Buffet investing in this electric car technology is encouraging. Perhaps since he thinks its such a good idea it will help swing American companies in the same direction and we can make some of our own. I just hope they get more mileage on a change than 60+ miles. Can't go far with that.
With a unique way of thinking, Warren Buffett is a phenomenon.
He invests in and believes he knows a mistake to imagine that the risk is limited when it distributes funds among companies that know little and whose administration does not have any particular reason to take special trust.
With a way unique of thinking, Warren Buffett is a phenomenon.
He invests in he knows and believes a mistake to imagine that the risk is limited when it distributes funds among companies that know little and whose administration does not have any particular reason to take special trust.