Feeding a Hungry Dragon
Not long ago, President Hu (sounds like ‘Who’) of China met with Saudi King Abdullah to discuss China’s growing appetite.
In the end, they signed a pact that would boost China’s investment in Saudi crude, gas and refining capability.
It was a win/win/lose situation. Washington, that’s us, was left out of the loop.
Is it a good deal?
Well, I have never invested in a company. I have never had enough money left over to trust someone else to lose it for me. But, I do know who Warren Buffett is. And I love the super Chinese Buffets we have here…no relation. Anyway…
Buffet started buying into PetroChina back in 2002 and now owns 1.3% of the company.
It cost him just $488 to buy in and his portion is now worth $1,918…that’s miillons of dollars….and a 300% increase.
It sure was a good deal for him.
What do you think? Who’s going to win out in this Saudi/China deal?
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