MarketWatch: Chinese Investors Adore Buffett

Thursday, 05 Jun 2014 09:09 AM

By Dan Weil

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It's not just American investors who idolize Warren Buffett, CEO of Berkshire Hathaway, for his money prowess. The Chinese are enthralled too.

A whopping 1,000 of them showed up to Omaha, Neb., for Berkshire's annual meeting last month, and Chinese media there outnumbered their colleagues from other foreign nations, MarketWatch reports.

More than 250 people attended a Chinese-language panel discussion of Buffett's investment strategies, up from 120 for a similar session last year.

Editor's Note:
38 Trades That Could Turn $1,000 Into $49,000


In one presentation, Buffett was called "gu shen," or "the God of stock investing," a common appellation for the Oracle of Omaha in China, MarketWatch notes.

Fund manager Chen Jinquan defended Buffett from the failure of Berkshire's return to beat the S&P 500 over the last five years.

"Investment is always a game for long-distance runners," he said, according to MarketWatch. "What happened in five years doesn't really mean that much."

Zhang Feng of private equity firm Gingko is another Buffett fan. "Buffett made many successful investments in consumer product companies," he said, MarketWatch reports. "And that's the area where we see potential for value investing in China."

Meanwhile, Morningstar analyst Greggory Warren offers a positive assessment of Berkshire, but with caveats.

"While Berkshire is likely to continue putting money to work in value-creating projects in the near to medium term, much as it has in the past, we think the huge sums of cash it generates and maintains on its balance sheet will ultimately limit its ability to produce outsize returns," he writes on Morningstar.com.

Editor's Note: 38 Trades That Could Turn $1,000 Into $49,000

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