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Investors paid attention to Zhao/Buffett lunch

By Bi Xiaoning (China Daily)
Updated: 2009-08-03 07:55

He said he had no intention of selling those shares, adding that he embraces a long-term investment philosophy.

"It could be called speculation if I sold the shares, but I didn't do it," Zhao said in an interview in London.

Doing the homework

"I invest in companies, not merely in their stocks. I like to grow with promising companies, and thus it's possible to hold their shares for 10 to 20 years," he said.

After his lunch with Buffett, Zhao flew to London to complete a one-week course at the London School of Business, along with 70 classmates from Cheung Kong Graduate School of Business.

Wu Jianzhong, chairman of Wumart Stores, said Zhao began buying company shares last year.

Zhao is widely regarded as a prudent investor who does his homework.

When buying shares of an expressway company, he sent his staff to count cars on the road as research.

Before buying port-related shares, he counted berths at the ports.

In another case, he studied a local power supplier before buying stock in a power company. He decided against investing, but others who did invest in the company suffered major losses.

"If investors would seriously investigate companies before they invest, like Zhao, their returns would be higher," Wumart's Wu said.

(For more biz stories, please visit Industries)

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