2017年2月26日 星期日

2016波克夏年報出爐

geniuskoo (古哥) 發表於 2017-2-26 00:09  

Dear All:2016 巴爺爺寫給股東的信已出爐,請參閱。


mikeon88 發表於 2017-2-26 03:13  

P20
Sometimes the comments of shareholders or media imply that we will own certain stocks “forever.” It is true that we own some stocks that I have no intention of selling for as far as the eye can see (and we’re talking 20/20 vision). But we have made no commitment that Berkshire will hold any of its marketable securities forever.
Confusion about this point may have resulted from a too-casual reading of Economic Principle 11 on pages 110 - 111, which has been included in our annual reports since 1983. That principle covers controlled businesses, not marketable securities. This year I’ve added a final sentence to #11 to ensure that our owners understand that we regard any marketable security as available for sale, however unlikely such a sale now seems.



esther 發表於 2017-2-27 11:31  

中文版


mikeon88 發表於 2017-2-27 12:19  

2016年報就二個重點:
1. 否認有所謂永恆持股
2. 基金收費太貴

因為基金收費太貴,所以無法打敗大盤,
跟我的看法一致。

巴菲特支持買ETF ?
巴菲特的主張一直都是投資很簡單,
就跟經營農場和出租大樓一樣簡單。
若這麼簡單都還學不會,
就去買ETF。

我也贊成沒上過巴菲特班的人去買ETF
請問本句話的意思是:
1. 鼓勵買ETF ?
2. 歡迎來上巴菲特班 ?

2017年2月24日 星期五

4Q16波克夏加碼AAPL、般空股、孟山都

mikeon88 發表於 2017-2-15 07:56  


Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.Warren Buffet's Berkshire filed its 13F for the quarter ending December 31, 2016. Below is a summary.
New Stakes
Monsanto Company (NYSE: MON) new 8,041,784 share position
SIRIUS XM HLDGS (NASDAQ: SIRI) new 166,639,941 share position
Southwest Airlines (NYSE: LUV) new 43,203,775 share position
Raised Stakes
AMERICAN AIRLINES (NASDAQ: AAL) raised from 21,770,555 shares to 45,544,854 shares
Apple Inc. (NASDAQ: AAPL) raised from 15,227,702 shares to 57,359,652 shares
Bank of New York (NYSE: BK) raised from 21,136,712 shares to 21,671,969 shares
Delta Air Lines (NYSE: DAL) raised from 6,333,923 shares to 60,025,995 shares
The Liberty SiriusXM Group (NASDAQ: LSXMA) raised from 10,058,800 shares to 22,236,109 shares
UNITED CONTINENTAL HOLDINGS, Inc. (NYSE: UAL) raised from 4,533,013 shares to 28,951,353 shares
Lowered Stakes
Verizon Communications (NYSE: VZ) lowered from 15,000,928 shares to 928 shares
Wal-Mart Stores (NYSE: WMT) lowered from 12,971,574 shares to 1,393,513 shares
Liquidated Stakes
Deere & Company (NYSE: DE) liquidated
Kinder Morgan (NYSE: KMI) liquidated
LEE ENTERPRISES, Inc. (NYSE: LEE) liquidated
LIBERTY MEDIA-A (NASDAQ: LMCA) liquidated
Liberty Media Class C (NASDAQ: LMCK) liquidated
NOW, Inc. (NYSE: DNOW) liquidated
Maintained Stakes
American Express Co (NYSE: AXP) maintained 151,610,700 share stake
Axalta Coating Systems (NYSE: AXTA) maintained 23,324,000 share stake
CHARTER COMM-A (NASDAQ: CHTR) maintained 9,443,491 share stake
The Coca Cola Company (NYSE: KO) maintained 400,000,000 share stake
Costco Co. (NASDAQ: COST) maintained 4,333,363 share stake
DaVita Inc. (NYSE: DVA) maintained 38,565,570 share stake
General Electric (NYSE: GE) maintained 10,585,502 share stake
General Motors (NYSE: GM) maintained 50,000,000 share stake
Goldman Sachs Group (NYSE: GS) maintained 10,959,519 share stake
Graham Holdings Company (NYSE: GHC) maintained 107,575 share stake
International Bus. Machines (NYSE: IBM) maintained 81,232,303 share stake
Johnson & Johnson (NYSE: JNJ) maintained 327,100 share stake
Kraft Heinz (NASDAQ: KHC) maintained 325,634,818 share stake
LIBERTY GLOBAL -A- (NASDAQ: LBTYA) maintained 20,180,897 share stake
LIBERTY GLOBAL -C- (NASDAQ: LBTYK) maintained 7,346,968 share stake
Liberty LiLAC (NASDAQ: LILA) maintained 2,714,854 share stake
Liberty LiLAC (NASDAQ: LILAK) maintained 1,284,020 share stake
The Liberty SiriusXM Group (NASDAQ: LSXMA) maintained 10,058,800 share stake
M&T Bank Corp. (NYSE: MTB) maintained 5,382,040 share stake
Mastercard Inc. (NYSE: MA) maintained 4,934,756 share stake
Mondelez International (NASDAQ: MDLZ) maintained 578,000 share stake
Moody's Corp (NYSE: MCO) maintained 24,669,778 share stake
Phillips 66 (NYSE: PSX) maintained 80,689,892 share stake
Procter & Gamble (NYSE: PG) maintained 315,400 share stake
Restaurant Brands (NYSE: QSR) maintained 8,438,225 share stake
SANOFI (NYSE: SNY) maintained 3,905,875 share stake
Torchmark Corp. (NYSE: TMK) maintained 6,353,727 share stake
Twenty-First Century Fox (NASDAQ: FOXA) maintained 8,951,869 share stake
USG CORPORATION (NYSE: USG) maintained 39,002,016 share stake
United Parcel Service (NYSE: UPS) maintained 59,400 share stake
U.S. Bancorp (NYSE: USB) maintained 85,063,167 share stake
Verisign Inc. (NASDAQ: VRSN) maintained 12,952,745 share stake
VERISK ANLYTCS-A (NASDAQ: VRSK) maintained 1,563,434 share stake
Visa Inc. (NYSE: V) maintained 10,562,460 share stake
WABCO HOLDINGS, Inc. (NYSE: WBC) maintained 3,368,394 share stake
Wells Fargo (NYSE: WFC) maintained 479,704,270 share stake











2017年2月12日 星期日

NS8U.SG 貴淑不是看現金殖利率的另一個例證

cjwang 發表於 

李嘉誠在新加坡掛牌的HPHT公司是否可續抱 ?
近日買入李嘉誠和記黃埔集團在新加坡掛牌的
HPHT公司(SGX股票代號NS8U,如下圖)股票,
它是專營(獨攬)香港港口所有進出口的港務業務,
符合產品不會變+A+低盈再率+高配息+3秒的要件。
因自新加坡掛牌後至今股價已腰斬,
一年又配息兩次,我計算過它每年的yield都有7~8%
所以進場買進,
預計今年2/16會配2016年的第一次息。
但是盈再表顯示它ROE相當低,歷年EPS顯示為0
股息顯示的數字也跟我手上的資料有異,
請教是否為資料庫來源的關係?
這家公司我還能繼續投資嗎(購入成本為0.42美元/)
感謝各位大大 !!


mikeon88 發表於 2017-2-13 15:16  

EPS0 是小數點的問題
上課強調過了貴淑價不是看yield
又一個賺股息,賠了價差的例證
貴淑請以盈再表為準



cjwang 發表於 2017-2-13 15:23  

感謝Michael桑指點迷津,看起來不能續抱。

另外向您報告,學生是在2月初計算它的yield後進場買的,
但昨天才剛上第一次您的課
方瞭解不能用yield來看,也真的與您相見恨晚。