During Warren Buffett and Bill Gates’ visit in Beijing in September 2010,I was participating in a production of 10-episode program ApproachingMaster Warren Buffett. The program team sent an invitation letter to Mr. Buffett to visit Beijing TV Station as a guest. During the third episode of the program Approaching Master Warren Buffett on Aug. 31^st, 2010 the Beijing TV Station sent out the invitation letter to Mr. Buffett.

TV Hostess: “Hello, everyone. Welcome to watch the World Finance Evening. Today is Aug. 31^st, Tuesday. It’s time for our program Masters Forum. Today we are with our keynote speaker Mr. Yang Baozhong who have studied Buffett and benefited greatly in the last over 10 years.Let’s learn more about it through a short video as follows.”

Narrator: “17 years ago he was addicted into technical analysis and got wiped out. 3 years later on an accidental occasion, he learnt Buffett.From then on, he started his value investment for over more than 10 years. Over 15 year by following value investment, he has increased his wealth by several hundred times and realized Buffett’s legendsuccessfully. He IS Yang Baozhong.

TV Hostess: “Welcome Mr. Yang to come back to our program again.Yesterday was the 80-year-old birthday of Investing master Mr. Buffett.

Yang Baozhong: “At the shareholder’s meeting of Berkshire Hathaway Inc., a shareholder once asked Mr. Buffett: “You are already the richest person in the world. What is your next goal?” Mr. Buffett answered:“My next goal is to become the person living the longest in the world.”So here we wish Mr. Buffett living a long life.   

TV Hostess: “We all wish him healthy and happy birthday! We all know that Mr. Buffett will come to China soon for his philanthropy. Our program team has sent an invitation letter to our respectable Mr. Warren Buffett on behalf of his fans. Let’s take a look.

The content of the invitation letter:

To Mr. Warren Buffett:

Dear Mr. Buffett, yesterday of Aug. 30^th was your 80-year-old birthday.We wish you a happy birthday in Beijing. Please allow us call you Warren! Maybe you don’t know that starting from next Tuesday we will broadcast a program about you. We and our audience have already seen you as an old friend. We even talk about your currency convertor that you once played at your age of six.

The reason why people like you is because of not only your achievement in investing world but also your special spirit and grand personalities, which are the power to inspire all the investors to move forward!

Lately we are thrilled to hear that you’re coming to China for your philanthropy! Here we sincerely send out an invitation to have you as a guest in our program. Let more people to listen to your teachings and pass on philanthropy, spread philanthropic seeds for the mankind andharmonious civilization.

At the same time, through this program we advocate to all: Everyone should put some effort for philanthropy and advocate philanthropy for the mankind! We sincerely wish you could accept our invitation! To your health!

From Mr. Buffett’s Fan Group

Stock market Show of World Finance at Beijing TV Station

Beijing TV Station got response from Mr. Buffett. Mr. Buffett invited the program team to join in the news conference held by Mr. Buffett and Mr. Bill Gates on Sept. 30^th. In the name of Mr. Buffett’s fan Yang Baozhong gave Mr. Buffett a piece of nice Chinese calligraphy on which was written I don’t look to jump over 7-foot bars; I look around for 1-foot bars that I can step over. The on-site staff passed it on to Mr. Buffett.

V Hostess: Lately Mr. Yang Baozhong shared his fruitful study about Mr. Buffett at Investing Master Forum every Tuesday. Today he and our program team together are giving Mr. Buffett a gift. What is it? Let’s take a look at the report.

Yang Baozhong: Mr. Buffett’s thought and wisdom has changed my life.I would like to borrow this forum of World Finance of Beijing TV Station to give Mr. Buffett a gift. I especially asked my brother, a famous painter, to write down one of Mr. Buffett’s famous quotations in Chinese calligraphy, on which is written I don’t look to jump over 7-foot bars; I look around for 1-foot bars that I can step over.

TV Hostess: We would like to ask Mr. Yang why to choose this quotation to give Mr. Buffett as a gift?

Yang Baozhong: I believe I don’t look to jump over 7-foot bars; I look around for 1-foot bars that I can step over is an intelligent quotationfor him to estimate the intrinsic value of a business. Intrinsic value of a business can be defined simply. It’s the discounted value of the cash that can be taken out of a business during its remaining life; however, the calculation is not so simple. Mr. Buffett says: “For some businesses it’s easy to figure it out, e.g. Coco Cola. In 1988, when he first started to invest in it, Mr. Buffett thought it was as easy as stepping over a 1-foot bar to figure out its value because it was easy to be estimated. But for some other businesses it’s actually hard to estimate. For these businesses, Mr. Buffett chooses to give them up. In other words, I don’t look to jump over 7-foot bars means not estimating an uncertain business or a business which is difficult to be estimated.

In fact, this quotation is a kind of Mr. Buffett’s wisdom. We say that Mr. Buffett is a wise investor. So it reflects one side of his investing wisdom.Therefore I believe Mr. Buffett will feel something when seeing thisquotation.