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。

http://www.berkshirehathaway.com/letters/letters.html

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  

http://finance.sina.com/bg/usstock/sinacn/20170226/08141564990.html

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 ?

4Q16波克夏加碼AAPL、般空股、孟山都

mikeon88 發表於 2017-2-15 07:56  

http://www.streetinsider.com/13Fs/Warren+Buffets+Berkshire+13F+Shows+New+Stake+in+Southwest+Airlines+%28LUV%29%2C+Increase+in+American+%28AAL%29%2C+Delta+%28DAL%29%2C+and+Apple+%28AAPL%29+%28More...%29/12547995.html

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

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咖+低盈再率+高配息+想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/股)？

感謝各位大大 !!

mikeon88 發表於 2017-2-13 15:16  

EPS為0 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。

Becoming Warren Buffett 2017(HBO Documentary Films)

royroan 發表於 2017-2-3 21:54  

Becoming Warren Buffett 2017(HBO Documentary Films)

https://www.youtube.com/watch?v=70nGRBvqFNw