Buffet invests in "solar energy". Shows it has arrived.

Our View:
Investment wizard Warren Buffet has taken 10 % stake in a little known Chinese solar energy equipment manufacturer BYD with a turnover of around 3 billion USD. A supplier of mobile phone batteries and handsets to Motorola, Nokia, Sony Ericsson and Samsung, this 15 year old company diversified into automobiles by buying a sick state run automobile in 2003. In less than 5 years the BYD sedan called F3 outsold illustrious brands like Toyota Corolla, and Volkswagen in the Chinese market attracting the attention of Buffet's Berkshire Hathway investments.
BYD has also introduced a plug-in electric car F3 DM with a backup gasoline engine, that runs 62 miles on a single solar charge, a move that puts it ahead of GM, Nissan, and Toyota. Besides it is entering the US market with a new product called “ The home clean power solution” which are essentially solar photovoltaic roof top panels with built in batteries to store solar energy for use when the sun is not out. The dynamic moves by this Chinese manufacturer proves that for ecology to be acceptable it must blend into the economy as a cost effective solution.
Warren Buffet famous for his conservative and failsafe rules of investment had once stated “ never invest in a business you do not understand.” He stayed away from the tech boom of the eighties that saw thousands of dot com companies raise billions of dollars from investors, and venture capitalists only to crash a few years later. He was critical of the derivatives industry which he famously named “ the financial weapons of mass destruction” and invested only with Banks like Wells Fargo and American Express who stayed away from the toxic sub-prime mortgages. Though these toxic mortgages repackaged as derivatives surged initially, the housing prices crashed a few years later sending stalwarts of the Wall Street like Lehman Brothers, Citi, AIG running for cover, while Wells Fargo posted record profits.
Buffets investment in a solar energy major gives the indication that solar energy has indeed arrived. We are sure that the decade 2010-2020 will see it forge ahead of fossil fuel and make it the cheapest and most favoured energy source on earth.
At the Blog Economy to Ecology we salute the progress of this small but dynamic solar energy company which promises to get into big league tomorrow.
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