Buffett’s Berkshire Hathaway cut its stake from 19.92% to 18.87% by selling 1.716 million Hong Kong-listed BYD shares at an the average price of HK$262.7243 (US$33.47) each, according to a filing with the Stock Exchange of Hong Kong (HKEX).
The transaction made Berkshire cash in over HK$450 million ($57.33 million) following its sales 1.33 million shares on August 24, which was the investor’s first position change since he built the position through acquiring 225 million BYD shares in September, 2008.
While BYD tried to play down Buffett’s move, the investor’s offloading more shares spurred bets on more sales. Daisy Li, a fund manager at EFG Asset Management HK Ltd., expected Berkshire could continue to sell more shares. According to Cole Smead, president of investment firm Smead Capital Management, Buffett now is telling us he wants to “take money off the table to go elsewhere”.
0236 GMT - Geely Automobile's 2022 sales target may be difficult to meet, as it only reached 52% of its annual target as of end-August, CreditSights analyst Zerlina Zeng says in a note. Geely targets full-year sales of 1.65 million units, including 70,000 units of Zeekr, its electric-vehicle brand. The company's year-to-date sales reached 859,110 units in August, including 31,198 Zeekr units, company filings show. But CreditSights expects Geely's sales momentum to stay strong in September and October thanks to seasonal factors. Geely's topline growth is likely supported by higher selling prices, though rising raw-material costs may pressure profitability, Ms. Zeng adds.(clarence.leong@wsj.com)
Dunno lah. He quit byd to move his fund out mah. Since 2008 until now byd is the largest full EV company in china. Time ripe to exit bah. Haiyoh. Correct?
qqq3333
who knows what kind of pressure the buffalo has supporting China?
Recession is coming hot Rising interest unstopable Geely byd is high risk asset pe more than 100!many bank in china no money given loan out.byd will drop to 30 again.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
probability
14,501 posts
Posted by probability > 2022-10-06 14:12 |
Post removed.Why?