BYD Company

RARE Charlie Munger 2017 Daily Journal AFTER Interview

“When I got into that through Lee, BYD had been pounded down so hard it was a gram-type stock.”

Charlie Munger's final CNBC interview | November 14, 2023

“BYD is a good lesson. I didn't find BYD. LeLoo found BYD. And he encouraged me... this year he'll probably sell two billion automobiles at huge profits”

Daily Journal Annual Meeting 2023 — Munger Q&A

“BYD last year made more than $2 billion after taxes in the auto business in China. Who in the hell makes $2 billion, who's a brand-new entrant in the auto business for all practical purposes. It's inc”

Daily Journal Annual Meeting 2023 — Munger Q&A

“It's a very remarkable company...last year, they made more than $2 billion in the auto business from that standing start at 0. It's unheard of.”

Daily Journal Annual Meeting 2023 — Munger Q&A

“BYD is talking about 50x earnings. That is a very high price. On the other hand, they're likely to have increased their auto sales by another 50% this year.”

Daily Journal Annual Meeting 2023 — Munger Q&A

“Who else has done it except BYD? It just shows how tough capitalism is... there's always some little BYD that comes out and does better.”

Daily Journal Annual Meeting 2023 — Munger Q&A

“BYD is one of the most remarkable venture capital excesses in the history of the world... turning it into something that this year, they're going to sell more electrical cars than anybody else”

Morning Session - 2023 Meeting

“if you went into byd's factories in china you would see robotics going in at an unbelievable rate”

Daily Journal Annual Meeting 2022 — Munger Q&A

“Daily Journal's marketable securities invested in BYD and Alibaba, you feel differently.”

2021 Berkshire Hathaway Shareholder Letter

“225,000,000 BYD Co. Ltd.**. ............................. 7 . 7 2 3 2 7,693”

Daily Journal Annual Meeting 2021 — Munger Q&A

“BYD is very well positioned for the transfer of Chinese automobile production from gasoline-driven cars to electricity-driven cars.”

Daily Journal Annual Meeting 2021 — Munger Q&A

“What, for example, is to stop the Chinese government from simply deciding one day to nationalize BYD?”

Daily Journal Annual Meeting 2021 — Munger Q&A

“BYD is in the Daily Journal stock portfolio with a very big paper gain. We admire the company and like its position.”

Daily Journal Annual Meeting 2021 — Munger Q&A

“Both Berkshire and Li Lu own BYD Company which you spoke highly of in the past.”

Daily Journal Annual Meeting 2021 — Munger Q&A

“What, for example, is to stop the Chinese government from simply deciding one day to nationalize BYD?”

Part 2 - 2021 Meeting

“BYD has performed spectacularly for Berkshire since its initial purchase in 2008 and is currently valued at $5.8 billion.”

2020 Berkshire Hathaway Shareholder Letter

“BYD Co. Ltd. .............................. 8 . 2 2 3 2 5,897”

Daily Journal Annual Meeting 2020 — Munger Q&A

“your investment in BYD. I wonder if from your perspective from today other technologies, like hydrogen, fuel cells”

Daily Journal Annual Meeting 2019 — Munger Q&A

“And of course what Wang Chuanfu has done is a miracle. And of course that was a venture capital type investment.”

Daily Journal Annual Meeting 2019 — Munger Q&A

“So I am terribly impressed with BYD and its been one of the real pleasures of my life”

Daily Journal Annual Meeting 2019 — Munger Q&A

“by the way the Daily Journal owns some BYD, but BYD is going to be huge electric vehicles. They are already huge.”

Daily Journal Annual Meeting 2019 — Munger Q&A

“it's been a wonderful investment and it's been a very admirable company. And I like being part of something that's inventing better lithium batteries”

Buffett: "I was wrong" on Kraft Heinz | February 25, 2019

“Oh, we bought the BYD 10 years ago, and Charlie called me up and said by this... that is totally Charlie's position, and it's done fine.”

Daily Journal Annual Meeting 2018 — Munger Q&A

“It's not some partially owned joint venture, it's a Chinese company created by Chinese, it's high-tech, it does wonderful things. And it hasn't disappointed anybody yet.”

Daily Journal Annual Meeting 2018 — Munger Q&A

“BYD has gone into a business they were never in before, which is monorails. And they are selling monorails like you can't believe.”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“BYD made its way into the top 15 holdings of Berkshire again this time around...it's worked out so well...BYD, Charlie's in love with the company. And it's done very well.”

Daily Journal Annual Meeting 2013 — Munger Q&A

“they have dealt with it just the way it is... after three years, they solved most of your problem. They're now back on their feet and strong.”

Daily Journal Annual Meeting 2013 — Munger Q&A

“Why did you buy BYD when you did? Li Lu: It really is a quite unusually talented group of people who were able to manage, to solve a problem like no other group”

Daily Journal Annual Meeting 2013 — Munger Q&A

“now they're probably selling 500,000 cars a year. But more importantly, they have a mastery of the state of the art technology”

Daily Journal Annual Meeting 2013 — Munger Q&A

“They are young Chinese. I don't want to compete with 180,000 young Chinese. I'd rather bet with them...they have basically, I think correctly, chosen to focus...their battery probably has the longest ”

Daily Journal Annual Meeting 2013 — Munger Q&A

“Electrifying the public transportation with BYD has proved A) doable, B) profitable, and C) actually good and providing enormous social benefit.”

Daily Journal Annual Meeting 2013 — Munger Q&A

“BYD is better at that than other people, and they may have quite the market. There are quite a few Chinese in some big polluted city.”

Daily Journal Annual Meeting 2013 — Munger Q&A

“I don't think, BYD, anyplace else in the world could have done what it did. To go from no capital and no knowledge, except basic engineering”

Afternoon Session - 2012 Meeting

“Generally speaking, I think BYD is an interesting company. If you stop to think about it, here's one of eight children of a peasant”

Afternoon Session - 2012 Meeting

“I drove the latest version of BYD's electric car. A guy in dro, I was driven around the block Tuesday, and I was flabbergasted”

Afternoon Session - 2011 Meeting

“any company that tries to move as fast as BYD does and on as many fronts is going to have various delays and glitches. And, but I would say I'm quite encouraged by what's going on.”

Wesco 2010 Annual Meeting — Notes of Charlie Munger's Remarks

“The same thing happened with BYD. True, we bought in early at a much better price than currently”

Wesco 2010 Annual Meeting — Notes of Charlie Munger's Remarks

“It's hard to imagine finding another one as good as BYD. We'll look, but will be surprised to find another one.”

2010 Berkshire Hathaway Shareholder Letter

“225,000,000 BYD Company, Ltd. .............................. 9 . 9 2 3 2 1,182”

Afternoon Session - 2010 Meeting

“As BYD has shown, these markets are exploding in automobile sales”

Afternoon Session - 2010 Meeting

“It has some very unusual people in B.YD. I've learned... No other lesson is as important as that one.”

Morning Session - 2010 Meeting

“recently you make investment in BYD, a company in China that makes batteries and also electric cars”

Afternoon Session - 2010 Meeting

“we got into BYD because BYD is surfing along on the developing edge of new technology... I think the BYD investment is going to work out very well”

Wesco 2009 Annual Meeting — Notes of Charlie Munger's Remarks (Peter Boodell)

“There were already huge achievements at BYD by time I decided to back them. I don't do startups because I have found a way that is easier for me.”

2009 Berkshire Hathaway Shareholder Letter

“225,000,000 BYD Company, Ltd. .............................. 9 . 9 2 3 2 1,986”

Afternoon Session - 2009 Meeting

“BYD is one of the main manufacturers of the world of the rechargeable lithium battery, and it achieved that position from a standing start at zero”

Afternoon Session - 2009 Meeting

“he rapidly was able to create the best-selling single model in China. And that's against competition that was Chinese joint ventures with all the major auto companies”

Afternoon Session - 2009 Meeting

“This is not some unproven, highly speculative activity. What it is is a damned miracle.”

Afternoon Session - 2009 Meeting

“BYD is in the sweet spot on that stuff. And I know it looks like a miracle and it looks like Warren and I have gone crazy, but I don't think we have.”

Afternoon Session - 2009 Meeting

“I have never in my life felt more privileged to be associated with something than I feel about BYD. BYD was Charlie's last year.”