Warren Buffett, Berkshire Hathaway score 30x gain on BYD investment - Business Insider

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Warren Buffett's Berkshire Hathaway has scored a 30x gain on its BYD investment. Here's the story of its bet on the Chinese electric-vehicle company.

"This guy is a combination of Thomas Edison and Jack Welch – something like Edison in solving technical problems, and something like Welch in getting done what he needs to do," he said. "I have never seen anything like it.

Wang was "not satisfied with having worked a couple of miracles," Munger said, so the entrepreneur then set his sights on the automotive industry. BYD, despite having limited capital and facing fierce competition, quickly made the bestselling car model in China.Buy these 13 stocks poised to benefit from a boom in 5G smartphone adoption, UBS says — including one expected to surge 69%

Munger also emphasized the importance of BYD's advances in clean-energy technology, given its critical role in combating climate change. "I have never in my life felt more privileged to be associated with something than I feel about BYD," he added., arguing the wager showed he and Buffett were capable of adapting their investment approach.

 

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