TAO OF WARREN BUFFET #19

Money
Money

If i cant make money in a $5 trillion U.S market ,it may be a little bit of wishful thinking to think that all i have to do is get a few thousand miles offshore and I’ll start showing my stuff.

The old thing about this quote is that ten years later Warren did go offshore to show his stuff.In 2003 he bought around $500 million worth of PetroChina,an oil company that is 90% owned by Chinese government,which means ,as Warren jokingly remarked , ‘Between the two of us we own the company’. PetroChina is the fourth most profitable oil company in the world.it produces a much crude as Exxon, and Warren bought it at one-third the valuation of Western oil companies.In case you are wondering ,it is up 400% since then.And if that’s not showing your stuff,I dont know what is.

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