#buffett

BYD, that Chinese company that could do no wrong, and that has been anointed by Warren Buffet’s golden hand (and money), is in a bit of a rough patch lately. As if there was no shortage of Bad Yucky Dreams lately, here is more. You want the bad news or the really bad news first?

BYD hasn’t been doing so well for months. BYD’s August sales dropped 5.9 percent from previous month and 19 percent from a year earlier, Reuters says. Just a few days ago, BYD blamed force majeure for its misfortunes: Seasonal factors, floods and mudslides had impacted sales, they said.

Hidden deep down in a story written by the Houston Chronicle about Rice Business School students visiting Warren Buffett, there is a startling prediction by the Oracle of Omaha.

Jan Goetgeluk, president of the business school’s Finance Club, asked what Buffett thought of the peak oil theory.

Reports the Houston Chronicle, to the dismay of the many oilmen amongst its readers: “Buffett told him that in 20 years, he believes all the cars on the road will be electric. He’s already invested in a Chinese company working on the technology to make it happen.”