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Buffett steps down as China bets on patient capital

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Story summary
  • Warren Buffett stepped down last week after growing Berkshire Hathaway into a US$1 trillion empire.
  • China is betting that patient capital will drive its next growth phase.
  • Analysts wonder whether Beijing’s Buffett-style value investing can revive Wall Street’s appetite for Chinese assets.
  • Tommy Ong, managing director of Hong Kong-based T.O. & Associates Consultancy, said Berkshire’s return philosophy aligns with China’s economic philosophy.