Fund manager pays $2.1 million to lunch with Warren Buffett


	Fund manager pays $2.1 million to lunch with Warren Buffett

mugofcoffee

6-29-2008 11:27 PM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e747e834-a04d-4b72-912d-9fb473bc81b1/144A8605-B194-4096-9FD0-F131E2CC9AAE/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews" href="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/www.reuters.com/img/2C09986F-F7DA-4B4F-B3B6-966082EE4B00" alt="Photo" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews"><P>NEW YORK (Reuters) - A Chinese fund manager has won a lunch with famed U.S. investor Warren Buffett after bidding $2.11 million for the opportunity in a charity auction, more than three times what the lunch fetched last year.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews">
<P>Zhao Danyang, who runs Hong Kong-based Pureheart China Growth Investment 
Fund, had the winning bid in the eBay Inc auction that ended late on Friday.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews">
<P>Buffett began donating lunches in 2000 after his wife Susan introduced him to 
the Rev. Cecil Williams, who founded Glide and runs the Glide Memorial United 
Methodist Church. The auctions, including the current one, have grossed more 
than $4 million for the organization. Last year's winning bidder paid $650,000 
for lunch with Buffett.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews">called the Sage of Omaha, Buffett</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews">for his preference for investing in larger companies with easy-to-understand 
businesses, large or </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/topNews/idUSN2946001020080629?feedType=RSS&feedName=topNews">dominant market shares, consistent earnings, and strong management</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/144A8605-B194-4096-9FD0-F131E2CC9AAE/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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