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The "Oracle of Omaha" has spoken again, and this time a Chinese suit maker is reaping the rewards.7 T4 N# B9 c0 x1 c
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5 X4 z( X6 ?* q( r* T L* I/ PShares in Dayang Trands have soared by more than 70 percent in less than a month since billionaire Warren Buffett said he and Microsoft founder Bill Gates, the world's two richest men, wore the company's suits.
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"I have to tell you that I now have nine suits all made in China. I threw away the rest of my suits," the 79-year-old Buffett said in a video posted on the website of Dayang Trands, based in the northeastern port city of Dalian.' L' C2 C/ @9 _1 \* Q/ Q
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Since the video was posted on August 25, the company's shares have surged nearly 72 percent -- from 8.55 yuan then to a close of 14.67 yuan on Thursday.
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"It's been a long time since I got compliments on how I looked. But since I'm wearing Madam Li's suits, I get compliments all the time," Buffett said in the video, referring to Dayang's chairwoman Li Guilian.* @" ]; R8 N0 v" ]& Y" \
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"So maybe Bill and I could start a clothing store and ... if we sold suits made by Dayang Trands, someday we might even be rich, who knows?"1 s5 e2 R( G/ E
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According to Forbes magazine Gates and Buffett have net worth of 40 billion and 37 billion dollars, respectively.+ c% R4 A" e, |+ i& k
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Dayang Trands said in a statement filed with the Shanghai stock exchange Wednesday that Buffett was only a client -- not an investor -- and the video was recorded to congratulate the company on its 30th anniversary.9 F2 a9 I0 \) D6 A+ i9 w; u
* f& I5 I2 s% TApart from that, the company "does not have any disclosable business relationship" with the US billionaire investor or his firm Berkshire Hathaway, the statement said.
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" L# s. M9 t! G- { HDayang Trands has 20 outlets in 11 cities across China.; Z) ^7 F+ `8 Q- K# n; S3 v
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Buffett is known as the "Oracle of Omaha" for his astute investment decisions. In China, he has been dubbed the "God of Stocks". |
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