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—————————————————————————————————————————————2011-08-09 18:02:55 新浪博客 刘建位__学习巴菲特
“股神”巴菲特旗下伯克希尔·哈撒韦公司5日发布的财报披露，该公司在今年二季度大举增持股票资产，单季增持量创下近3年之最。与此同时，伯克希尔公司当季财务表现亦可圈可点，盈利同比大增73.6%。
根
据伯克希尔的财报，截至6月30日，该公司在今年二季度实现净利34.2亿美元，合每股2072美元；去年同期分别为19.7亿美元、1195美元。该公
司表示，盈利主要来自衍生品投资及所持股票的增值。值得注意的是，伯克希尔在二季度大举增持了股票类资产。数据显示，二季度该公司买入总市值约为36.2
亿美元的股票，是2008年第三季度该公司斥资39.4亿美元购买股票以来的最大单季买入额。截至6月30日，该公司所持股票资产的市值增至676亿美
元。由于上周全球股市普遍下跌，彭博资讯的预计，伯克希尔持仓最大的3只股票市值缩水约16亿美元。
Buffett Bet on Stocks Before Rout by Spending Most Since 2008
By Andrew Frye - Aug 8, 2011 12:01 PM
GMT+0800
Enlarge image
Berkshire's cash holdings climbed 16 percent in three months to
$47.9 billion at the end of June as Goldman Sachs Group Inc. (GS)
repaid Warren Buffett’s 2008 investment. Photographer: Xinhua News
Agency/eyevine/Redux
Play
Video
http://www.bloomberg.com/news/2011-08-08/buffett-bet-on-stocks-before-rout-by-spending-most-since-2008.html
July 8 (Bloomberg) -- Warren Buffett, chief executive officer of
Berkshire Hathaway Inc., talks about the debt ceiling debate and
the U.S. economy. Buffett, speaking with Betty Liu on Bloomberg
Television's "In the Loop," also discusses his views on
acquisitions, the labor market and Todd Combs. (Source:
Bloomberg)
Warren
Buffett’s Berkshire Hathaway Inc. (BRK/A), whose top three
shareholdings declined by about $1.6 billion last week, disclosed
its biggest quarterly purchase of equities in almost three
years.
Berkshire bought $3.62 billion of stock in the three months
ended June 30, the most since it spent $3.94 billion in the third
quarter of 2008, the Omaha, Nebraska-based company said late Aug. 5
in a filing. Equity purchases exceeded acquisitions of
fixed-maturity securities for the first time since 2009.
Buffett, 80, turned his focus to stocks as Berkshire’s cash
swelled and interest rates
remained near record lows. The firm’s equity portfolio, which rose
to $67.6 billion as of June 30, suffered last week as markets
plummeted. Stocks around the world fell amid signs the U.S. economy was
stalling and speculation that Europe will fail to
contain its sovereign-debt crisis.
“He’s gotta put the cash to work somewhere,” said Tom
Lewandowski, an analyst with Edward Jones & Co.
“We’ve seen the market pull back, and this is the environment he
likes to make investments in.”
Transatlantic Holdings Inc. said yesterday that Berkshire
offered about $3.25 billion in a bid to break up the New York-
based reinsurer’s deal to merge with Allied World Assurance Company
Holdings AG. The equity market rout helped push down the value of
Allied’s all-stock bid by about 13 percent from the last trading
day before the June announcement through Aug. 5.
Stock Plunge
U.S. and European stocks posted the biggest weekly declines
since November 2008. The Standard & Poor’s 500
Index fell 7.2 percent, erasing its gains for the year, while the
Stoxx 600 Europe Index tumbled 9.9 percent to its lowest in 13
months. The U.S. government was stripped of its AAA credit rating
by S&P on Aug. 5 after the close of New York
trading.
Buffett, Berkshire’s chairman and chief executive officer,
reported a 74 percent jump in second-quarter profit in the filing.
Cash holdings climbed 16 percent in three months to $47.9 billion
at the end of June as Goldman Sachs Group Inc. (GS) repaid Buffett’s 2008
investment. Net income of $3.42 billion was boosted by derivative
returns and earnings from the company’s manufacturing and retailing
units.
Buffett said Aug. 6 that while the market slump may hurt
confidence, the U.S. will probably avoid a recession.
“Financial markets create their own dynamics, but I don’t think
we’re facing a double-dip recession,” Buffett told Bloomberg
Television’s Betty Liu. “Clearly what stock markets do have is an
effect on confidence, and this selloff can create a lack of
confidence.”
Economic Slump
Two-year Treasury yields fell to a record low on Aug. 4 as
reports on manufacturing and consumer spending trailed economists’
forecasts. The European
Central Bank has signaled it is ready to start buying Italian
and Spanish securities to counter the sovereign debt crisis.
Buffett said S&P made a mistake and the U.S.
deserved a “quadruple A” rating.
Berkshire sold $200 million of equities in the three months
ended in June, the second-smallest quarterly total in more than
three years. The company spent $2.78 billion on fixed-maturity
securities.
Buffett built Berkshire over four decades by acquiring
businesses including car insurer Geico Corp. and betting on stocks
like Coca-Cola Co. (KO) After debt markets froze
in 2008, Buffett used more than $10 billion of Berkshire’s cash to
finance New York-based Goldman Sachs, General Electric Co. and
Swiss Reinsurance Co. In 2010, he spent $26.5 billion on the
takeover of railroad Burlington Northern Santa Fe.
‘Recovery Bet’
Berkshire increased its stockholdings this year in firms it
labeled “commercial, industrial and other.” That portfolio was
$10.7 billion on June 30 on a cost basis, compared with $6.5
billion on Dec. 31. The “consumer products” portfolio was down 2.4
percent by that measure while holdings of “banks, insurance and
finance” were up less than 1 percent.
“That is basically a recovery bet,” Glenn Tongue, a partner at
Berkshire shareholder T2 Partners LLC, said of the increase in the
commercial and industrial portfolio. “Equities are available today
at prices where he’s almost certain to generate an adequate rate of
return.”
Coca-Cola, Berkshire’s biggest shareholding, fell 1.8 percent
last week, wiping $248 million from the market value of Buffett’s
stake. Wells Fargo & Co. (WFC), the
No. 2 holding, dropped 9.8 percent, lowering Berkshire’s holding by
$935 million. The stake in American Express Co. (AXP), Berkshire’s
third-largest stockholding, fell by $429 million as the credit-card
company’s shares slipped 5.7 percent.
Buffett is overseeing changes to the stock portfolio after
hiring former hedge-fund manager Todd Combs last year to help with
investments. Berkshire bought MasterCard Inc. (MA) shares in the first quarter,
the only publicly disclosed addition to Berkshire’s U.S. equity
holdings. The company hasn’t filed its second-quarter list of
holdings yet.
Berkshire agreed in March to buy Lubrizol Corp., the Wickliffe,
Ohio-based maker of engine additives, for about $9 billion in cash.
Buffett’s firm, which doesn’t pay a dividend, uses earnings and
premiums from insurance units to fund investments and
acquisitions.
To contact the reporters on this story: Andrew Frye in New York
at afrye@bloomberg.net
To contact the editor responsible for this story: Dan Kraut at
dkraut2@bloomberg.net
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发表于 2011-10-15 23:02:15
