Sunday, July 12, 2009

Who's having dinner with Warren Buffett?

Last year Zhao Danyang paid $2.1 million to have a dinner with Warren Buffett. He manages the "Pureheart" China Growth Fund.

This year, the dinner sold for $1.68 million, to an "anonymous" buyer.

People thought it was another Chinese buyer, because everyone knows the Chinese fascination with numbers. Didn't the Bejing Olympics start at time 8:08:08 on 8/08/08?

And in Chinese the number 168 sounds like "pathway to prosperity."

And 1.61803 (the golden ratio) x 1.68=2.71821 or e.

But instead of being a Chinese buyer, it was revealed to be Salida Capital, of Canada. Who pays $1.68 million for a dinner with Buffett to remain anonymous?

So what did they get for their money?


Last year, they were down 66.5%! The tide went out, and they were swimming naked.

This year, they are up 83.38%!

And now, by having lunch with Buffett, they can pretend they're not gunslingers.

They aren't the only ones though, enamored of the owner of Fruit of the Looms. Barron's touted Berkshire Hathaway this weekend, saying at $85,000 the stock is now a bargain.

Here's that story.

And here's the story in tables.

And in Buffett's income investments.


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