The book “Dream Big” is the story of several 3G Capital founders and has been a hot topic on weibo since Warren Buffett recommended the volume at Berkshire Hathaway Inc.’s annual shareholder meeting over the weekend.
Buffett lavished praise on 3G, the investment firm that he teamed up with to buy HJ Heinz last year.
Chinese economist Ba Shusong was at the meeting and said on his microblog that people immediately rushed to the stores to buy a copy and the title was quickly sold out. By the end of the annual meeting there was not a copy to be had.
Buffett also shared his views on how to manage the funds of his company. With more than US$40 billion in cash in its coffers, and the funds piling up quickly, Buffett said the day is not too far off when the company will have more cash than it can intelligently invest.
Buffett also acknowledged that there will be times when Berkshire falls behind the S&P 500 Index, but in the long run, the company should match or beat the index, news portal 163.com reported Monday.
Berkshire has constantly been on the lookout for big acquisitions that can use some of its cash and add to its earnings growth, the report said. Buffett said he was willing to spend as much as US$50 billion and take on debt or sell holdings from its stock portfolio if the right opportunity comes along.
In his few comments on issues related to China, he said the private-plane colossus NetJets is expanding its private aircraft leasing business to China, expecting to gain long-term benefit from the market.
– Contact us at [email protected]