清仓航空股，股神巴菲特一年损失50亿美元

腾讯美股2021-03-19

众所周知，巴菲特经常会说自己“最希望的持股周期是永远”，还建议投资者“在他人恐惧时贪婪”。如果他在航空股票投资交易当中能够坚持自己的原则，说到做到，那么伯克希尔不但不会遭受损失，反而还将获得可观收益。大约一年前，即2020年4月，在疫情爆发、经济停摆、市场动荡的背景下，巴菲特（Warren Buffett）的伯克希尔哈撒韦抛光了自己持有的全部四大航空公司股票，这些交易的总规模达到了45亿美元...

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精彩评论

Craigie
2021-03-20
Craigie
结果是具有偶然性的，决策的质量取决于决策的程序和方法而不是结果
波子饮汽水
2021-03-20
波子饮汽水
不能只看抽出，不看投入。要看看抽出来的资金投入到哪，回报是否更高。
Evelee
2021-03-20
Evelee
这世界上没有永远的赢家和输家。
Eison817
2021-03-20
Eison817
[捂脸]
sgczhao
2021-03-20
sgczhao
疫情将彻底改变人们的出行方式
LawrenceCW
2021-03-20
LawrenceCW
我们的生活方式是什么意思

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href=https://mp.weixin.qq.com/s/rD0p4o8CIzWZe7VmnPGGqA><strong>腾讯美股</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>众所周知，巴菲特经常会说自己“最希望的持股周期是永远”，还建议投资者“在他人恐惧时贪婪”。如果他在航空股票投资交易当中能够坚持自己的原则，说到做到，那么伯克希尔不但不会遭受损失，反而还将获得可观收益。\n\n\n大约一年前，即2020年4月，在疫情爆发、经济停摆、市场动荡的背景下，巴菲特（Warren Buffett）的伯克希尔哈撒韦抛光了自己持有的全部四大航空公司股票，这些交易的总规模达到了45亿美元...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/rD0p4o8CIzWZe7VmnPGGqA\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AAL","symbol_name":"美国航空","start_time":0,"source_url":"https://mp.weixin.qq.com/s/rD0p4o8CIzWZe7VmnPGGqA","article_id":"1132034233","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/cd0548f6f6ca6dbf3df4a12851bd1e49"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1132034233","pubTimestamp":1616159797,"columns":[],"sourceInfo":{"source_id":"txmg","name":"腾讯美股"},"weMediaInfo":null,"summary":"众所周知，巴菲特经常会说自己“最希望的持股周期是永远”，还建议投资者“在他人恐惧时贪婪”。如果他在航空股票投资交易当中能够坚持自己的原则，说到做到，那么伯克希尔不但不会遭受损失，反而还将获得可观收益。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"AAL":"美国航空","LUV":"西南航空","DAL":"达美航空"},"translate_title":"Clearing aviation stocks, Warren Buffett lost $5 billion a 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Buffett）的伯克希尔哈撒韦抛光了自己持有的全部四大航空公司股票，这些交易的总规模达到了45亿美元，而一年后的现在，他卖掉的这些股票，已经价值大约94亿美元。\n换言之，巴菲特一年前的决定让他与50亿美元的财富擦肩而过了。\n当时，伯克希尔哈撒韦同时持有着美国航空、达美航空、西南航空和联合航空的股票，每一只股票的持有数量都相当于其发行在外总数的8%至11%，规模相当可观。根据证监会的文件记录，巴菲特买进这些股票的总成本大约是在70亿美元到80亿美元之间，而2019年年底时，这些股票的总价值已经超过了100亿美元。\n然而，去年春季，伴随疫情爆发，恐慌情绪席卷市场，而受到疫情影响严重的航空公司股票更是首当其冲。在这样的背景下，巴菲特及其团队出清了全部的航空股票，根据这些股票当月的平均价格，巴菲特售股所得大约是45亿美元，这也就意味着从最开始投资到最后离场，航空股票投资交易让伯克希尔损失了25亿到35亿美元。\n关键在于，从巴菲特售出开始，这些航空股票不但没有继续下跌，反而大幅回弹了，在这种情况下，如果当初伯克希尔能够不卖出这些股票，而是坚持持有到现在，这些股票的价值就将达到94亿美元，超过巴菲特当年购买时的出价。\n众所周知，巴菲特经常会说自己“最希望的持股周期是永远”，还建议投资者“在他人恐惧时贪婪”。如果他在航空股票投资交易当中能够坚持自己的原则，说到做到，那么伯克希尔不但不会遭受损失，反而还将获得可观的收益。\n当然，公平地说，巴菲特也不可能未卜先知，他在去年春季只能根据自己那时能够获得的信息去决策。他不可能预想到多种新冠病毒疫苗都会迅速研发出来，为今年夏季旅行恢复正常，全球经济重启奠定基础。\n还有，巴菲特从2016年开始投资这些航空公司的股票，是因为他预计未来几年里，人们的飞行将变得越来越频繁，这些公司至少可以维持自己的市值不变，而且与此同时，他们还将持续回购自家股票。\n到了去年4月，谁也不清楚航空旅客数量需要多久才能回归疫情爆发前的水平。这些航空公司都接受了政府的救援，而作为交换条件，后者对他们的回购做出了严格的限制，还要求他们向美国政府提供认股权证，此外他们未来还背负上了偿还数以亿计的贷款的重担。当时，四大航空公司当中至少有两家寻求增发股票，而这无疑将稀释既有股东的权益。\n“这个世界已经让航空业发生了改变。”巴菲特在去年的伯克希尔股东大会上表示，“我眼中的未来已经不那么清晰了。”\n站在后见之明的角度，人们可以说巴菲特错过了一个好机会，但是他当时那么判断，也确实是情有可原。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":350483066,"gmtCreate":1616252543055,"gmtModify":1616252543055,"author":{"id":"3519301692604164","authorId":"3519301692604164","name":"Craigie","avatar":"https://static.tigerbbs.com/2fdc063e39fdd62312d6447705e05772","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3519301692604164","authorIdStr":"3519301692604164"},"htmlText":"结果是具有偶然性的，决策的质量取决于决策的程序和方法而不是结果","listText":"结果是具有偶然性的，决策的质量取决于决策的程序和方法而不是结果","text":"结果是具有偶然性的，决策的质量取决于决策的程序和方法而不是结果","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350483066","repostId":1132034233,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":350566291,"gmtCreate":1616232887213,"gmtModify":1616232887213,"author":{"id":"3556847841878874","authorId":"3556847841878874","name":"波子饮汽水","avatar":"https://static.tigerbbs.com/cecdafac5643249bd267ee953c2bbd38","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3556847841878874","authorIdStr":"3556847841878874"},"htmlText":"不能只看抽出，不看投入。要看看抽出来的资金投入到哪，回报是否更高。","listText":"不能只看抽出，不看投入。要看看抽出来的资金投入到哪，回报是否更高。","text":"不能只看抽出，不看投入。要看看抽出来的资金投入到哪，回报是否更高。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350566291","repostId":1132034233,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":350241614,"gmtCreate":1616217656638,"gmtModify":1634526677975,"author":{"id":"3575504946654998","authorId":"3575504946654998","name":"Evelee","avatar":"https://static.tigerbbs.com/155a8175b5f744797e10e45a1941afb5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575504946654998","authorIdStr":"3575504946654998"},"htmlText":"这世界上没有永远的赢家和输家。","listText":"这世界上没有永远的赢家和输家。","text":"这世界上没有永远的赢家和输家。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350241614","repostId":1132034233,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":350844115,"gmtCreate":1616195560237,"gmtModify":1634526817842,"author":{"id":"3576889252489012","authorId":"3576889252489012","name":"Eison817","avatar":"https://static.tigerbbs.com/3afe658dbab12a61559497a97c05a2b0","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3576889252489012","authorIdStr":"3576889252489012"},"htmlText":"[捂脸]&nbsp;","listText":"[捂脸]&nbsp;","text":"[捂脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350844115","repostId":1132034233,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":350845339,"gmtCreate":1616195493921,"gmtModify":1634526818677,"author":{"id":"3564398777411265","authorId":"3564398777411265","name":"sgczhao","avatar":"https://static.tigerbbs.com/463ea3f31ed77071863bce732e8e8336","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3564398777411265","authorIdStr":"3564398777411265"},"htmlText":"疫情将彻底改变人们的出行方式","listText":"疫情将彻底改变人们的出行方式","text":"疫情将彻底改变人们的出行方式","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350845339","repostId":1132034233,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":350835023,"gmtCreate":1616174566762,"gmtModify":1634526851662,"author":{"id":"3568626352541392","authorId":"3568626352541392","name":"L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