alt Hacker NewsThis is fascinating, because from what I've heard, Warren Buffett did not favor tech stocks. Does anyone know what gave Buffett the faith that this company was a real deal?
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Maybe he was more afraid of software dominated stocks?
BYD is at heart an automobile manufacturer and so maybe he felt more confident evaluating it using his normal tools.
Yes the circumstances are well known. Li Liu convinced Munger and Munger talked to Buffett.
It was Charlie Munger who became enthusiastic about BYD after learning about it from investor Li Lu, leading him to convince Buffett to make Berkshire Hathaway's $230 million investment in 2008.
Munger believed in the founder from the very early days before it was a car company.
They “just” were a battery company then. Is that considered tech?
It's a car and battery company, isn't it? Framing it as a tech company is a bit weird, but I guess Tesla did the same.
Buffett didn't love automobile stocks either, but Berkshire Hathaway held General Motors from 2012 to 2023.