--- In [email protected], Newsmaster <[EMAIL PROTECTED]> wrote: > > Buffett Says Investors Should Be `Cautious' on China (Update3) > > By Zhao Yidi and Kyung Bok Cho > > Oct. 24 (Bloomberg) -- Billionaire Warren Buffett said investors should > be ``cautious'' about China's stocks after the country's benchmark index > more than doubled this year. > > ``We never buy stocks when we see prices soaring,'' Buffett told > reporters today in Dalian, northeastern China, where he's visiting a > subsidiary of his Berkshire Hathaway Inc. ``We buy stocks because we're > confident of the company's growth. People should be cautious when they > see prices rising.'' > > Buffett this month said Berkshire had sold its stake in PetroChina Co., > which has risen 76 percent this year to become the world's > second-biggest company by market value. China's CSI 300 stock index has > climbed 48 percent since May 17, when Li Ka- shing, Asia's richest man, > said there ``must be a bubble.'' > > The index has risen 174 percent this year, the biggest increase among 91 > stock benchmarks tracked by Bloomberg. Investors in China have opened 46 > million trading accounts this year, nine times last year's amount, as > individuals poured their $2.2 trillion in savings into equities. The > demand has pushed up valuations of China's stocks to the highest in the > world. > > ``Buffett is right about China stocks, whose valuations are too high,'' > said Wang Zheng, who manages the equivalent of $500 million at the asset > management unit of Everbright Securities Co. in Shanghai. ``It doesn't > make sense any more to still play in such a market. It's about time to > pull out of it.'' > > PetroChina > > Buffett said he was ``appreciative'' of the performance of PetroChina, > the nation's biggest oil producer, and that he is doubtful he can find > another stock like it. Berkshire owned more than 10 percent of > PetroChina's publicly held shares as of the end of last year, a stake > that fell to 3.1 percent as of Sept. 30, according to disclosures. > > The company has sold all of its holding, Buffett said in a Fox Business > Network interview on Oct. 18. Buffett learned about buying well-run, > out-of-favor companies while studying under Columbia University business > professor Benjamin Graham, an advocate of value investing. The > 77-year-old said today he's seeking to invest in large Asian companies > with businesses he understands, denying Chinese media reports that > Berkshire invested in China Life Insurance Co. > > ``If you understand a business and buy at a reasonable price, there's no > risk,'' Buffett said. ``We've never realized a loss because we > understand the businesses that we buy in.'' > > China, Hong Kong > > Only government-approved investors can trade in Chinese shares in the > mainland. Some companies, such as PetroChina, are listed in Hong Kong > and can be bought and sold by any investor. The CSI 300 rose 0.9 percent > today and reached a record on Oct. 17. Hong Kong's Hang Seng index, > which climbed to a record the next day, fell 0.2 percent today. > > Buffett's trip to China today and a visit to South Korea tomorrow were > planned by Iscar Metalworking Cos., an Israel-based toolmaker in which > Berkshire bought an 80 percent stake last year. Iscar, which owns Korean > and Chinese manufacturing facilities, was Berkshire's first non-U.S. > acquisition. > > As chairman of Berkshire, Buffett transformed the Omaha- based company > over four decades from a failing textile maker into a $200 billion > investment and holding company with businesses ranging from ice cream > and underwear to insurance and corporate- jet leasing. > > Buffett, whose investment decisions are followed worldwide, said the > company's strategy wouldn't be derailed by problems in the U.S. housing > market. Mortgage defaults by people with poor credit histories have > triggered a worldwide rout in debt and stock markets, and U.S. Treasury > Secretary Henry Paulson last week called the housing slump ``the most > significant current risk to our economy.'' > > ``The subprime crisis is a real problem in the U.S.,'' Buffett said. > ``But we have lots of problems in the U.S. We went through two world > wars, we have other issues. We don't go in and out of the market.'' > > To contact the reporter for this story: Zhao Yidi in Dalian, China, at > [EMAIL PROTECTED] ; Kyung Bok Cho in Seoul at [EMAIL PROTECTED] . > > Last Updated: October 24, 2007 07:52 EDT > > santoso tan wrote: > > > > tolong tanggapan temen2 kenapa bursa saham shanghai turun samapi 284 > > (4.4% ) kayaknya pengaruhnya apa buat saham regional, saya baca di > > majalah edisi mingguan kontan waktu bulan september tang sudah kasih > > warning soal saham shanghai kalo mletus bisa kejadian waktu bulan > > agustus kasus SM > > > > __________________________________________________ > Saya memprediksi bahwa Hang Seng akan melonjak 33.000 point sampai akhir tahun 2007.
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