Investment Guru Richard Russell’s Favorite Chinese Stock
May 29th, 2009 | By Contrarian Profits | Category: Notes From the Investment UndergroundHere´s a note about a compelling stock story from legendary newsletter writer Richard Russell.
This from Russell:
I usually don’t spend a lot of time touting one stock. But there is one stock that fascinates me. It’s the Chinese stock, BYD. BYD is run by CEO Wang Chuanfu who, according to Charlie Munger, Warren Buffett’s right-hand man, is a combination of Thomas Edison and Jack Welch. The company is only 14 years old and is already bringing in $4 billion in sales.
BYD is now the world’s leading manufacturer of batteries (they supply the batteries for Apple). BYD is now moving into the manufacturing of plug-in cars. I think in view of the company’s history and capabilities, that BYD will be successful and a coming huge factor in the auto business.
Warren Buffett and Richard Russell are buying BYD, maybe you should too…
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