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PeterRS

Your Biggest Financial Mistake!

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Posted

I have made so many in my life I am sometimes surprised i am able to finance my retirement. Back in the late 1990s, I invested a little here and there. One stock that interested me was Starbucks Asia, then far less visible in Asia than now. I resisted. Then 10 years later another stock caught my eye. I noticed that Warren Buffet had invested in the Chinese battery maker BYD taking a 10% stake in the company and a seat on the Board. I had thought about putting $1,000 into the company. Again I resisted.

BYD has since become one of the fastest selling battery powered vehicles, now outselling Tesla due to Chinese government investment and lower prices. In fact it is the world's third most valuable car maker after Toyota and Tesla, and China is the world's largest EV market. Warren Buffet started selling half of his shareholding starting in 2022. In doing so a $230 million investment turned into an $8 billion profit. And he still retains roughly half of his shareholding.

I could be in a penthouse now!

Posted

Buffet invests for the long term. With the ¥ now so relatively low, any major investment in Japan, however enticing the companies' future growth, would seem to be a good long term bet.

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