Buffett is in the news again yesterday. This time he is playing sidekick (financing) to help Mars to buy Wrigley (NYSE:WWY), the chewing gum company. One interesting Buffett comment I heard from CNBC is “I have doing taste testing of the Wrightly gum for 70 years”.
Fun aside, Buffett and value investing have also been very popular in China in recent years, thanks to the boom/bust of Chinese stock market. There are tons of books on Buffett and his investing strategy, either translated from English, or written by someone who really does not know value investing. I saw a guy (who admires Buffett and claims to be value investor) talked about how great PetroChina is, and encourage small investors to buy at CCTV-2. Now we all know how PetroChina (NYSE:PTR) A share (601857) did.
But I found this one (written by Jingzhou Lawyer, 锦州律师) to be different. I found he has a very good understanding of value investing, much better than many pros in China. So let me quote some:
By the way, a question just for fun, now the Mars offers $80 for the Wrigley, why the stock still trades at $76.90 🙂