BYD Puts Words in Warren Buffett's Mouth

Warren Buffett who of course runs Berkshire Hathaway (BRK:B) wakes up this morning and finds that the boss of one of his investments may be putting words in his mouth. BYD Co (HK:1211) claims MidAmerican a unit of Berkshire has always intended to raise its stake in BYD because it believes BYD has good prospects in the development of renewable energy, but we are still considering (whether to sell more),” BYD Chairman Wang Chuanfu told reporters on Monday.

This is very un-Buffett like. The company’s shares have been rising, particularly after BYD touted Buffett’s involvement.

The NY Times DealBook reports “BYD shares are not cheap at the current price level, but since the company’s strategy is in line with Beijing’s policy, and with the support of Buffett, the market is willing to pay a premium for that,” said Ben Kwong, the chief operating officer of KGI Asia.”

The publicity drum sounds really loud right now. Is the big promote on? Public discussion of private deals. Hmmm