Chinese guy pays $2.11 million for lunch with Warren Buffett

Zhao Danyang

Zhao Danyang, a hedge fund manager in Hong Kong, paid $2.11 million for a lunch with Warren Buffett.  For that big price tag, he got to bring seven of his close friends and family.  It’s all for a good cause–proceeds go to the Glide Foundation, which benefits homeless and poor people in San Francisco.  But $2.11 million?  I’m glad someone is doing well in this economy.  Evidently, Zhao really is: his fund has had a 600% return over six years, which is much better than what my portfolio has done in the same period.  Hell, that’s better than what Buffett’s portfolio has done.

From the article, Buffett’s strategy of value investing helped Zhao turn his portfolio around.  He started his own hedge fund in 2000, and the fact that he’s still going strong shows that he must be doing something right.  It sounds like Zhao asked some good questions during the lunch.  They talked about investing, as well as philanthropy.  I always like people who take the long term approach.  Buffett may be down right now, but he knows what he’s talking about.  It’s $2.11 million, and depending on future returns, it could be money well spent.