'Chinese Buffett' Duan Yongping Expects Unlikely to Sell POP MART Stake Within Next Decade
Complete. Here is the key summaryChinese investor Duan Yongping, known as the 'Chinese Buffett', expects to hold his POP MART stake for at least a decade after increasing his position to 7.65%. He noted substantial profits from Apple but has no plans to buy back shares currently. Duan recently sold put options on Micron and plans to do so for SpaceX, Tesla, and Palantir, citing the importance of AI trends. He aims to increase holdings in Alphabet and Berkshire Hathaway while maintaining NVIDIA positions.
Mainland Chinese investor Duan Yongping, known as the "Chinese Buffett", said he has just started buying POP MART (09992.HK) +2.700 (+1.695%) Short selling $275.25M; Ratio 23.395% and expects there is a high odds he will not sell the stake within the next decade.
Duan recently increased his holdings in POP MART, lifting his stake to 7.65%, making him the second-largest shareholder after POP MART founder Wang Ning.
He also said his position in Apple Inc. (AAPL.US) has generated substantial profits. He was recently forced to sell some shares after selling Apple call options, and redirected the funds into short-term US Treasuries.
Although Apple's current share price is slightly below the strike price at which the shares were sold, he currently has no plan to buy back the stock at prevailing levels.
He also mentioned that he sold put options on Micron Technology, Inc. (MU.US) several days ago, and plans to sell put options on SpaceX (SPCX.US) , Tesla, Inc. (TSLA.US) and Palantir Technologies Inc. (PLTR.US) in the coming days. He believed the AI trend cannot be overlooked and is working to better understand the related industries.
He added that he hopes to increase his holdings in Alphabet Inc. (GOOGL.US) and is seeking opportunities to raise his position in Berkshire Hathaway (BRK.B.US) . At the same time, he is maintaining the size of his holdings in NVIDIA Corporation (NVDA.US) . His strategy is to continue rolling over positions by selling new put options after previously sold put options expire.
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