The truth about Warren Buffett’s investment track record : Morning Brief

yahoo finance2021-03-01

Warren Buffett has had years of underperformance and a lot of bad stock picks Warren Buffett, the billionaire head of Berkshire Hathaway (BRK-A,BRK-B), will probably go down as the greatest investor ...

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精彩评论

PJoo
2021-03-02
PJoo
Warren Buffet glorious days are over. Its now Cathy Woods!
- FlyeBoat:
  How about now?
Nebhol
2021-03-01
Nebhol
Gambling
JoeK
2021-03-01
JoeK
Which is why he advises most people to just go with ETFs. U can't go wrong
Xander95
2021-03-01
Xander95
Sounds too good to be true
Jrrr92
2021-03-01
Jrrr92
Waiting for that too..

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Rather, it'll make progress toward some long-term goal over time as fat years more than offset lean years.\n\"Whatever today’s figures, Charlie Munger, my long-time partner, and I firmly believe that, over time, Berkshire’s capital gains from its investment holdings will be substantial,\" Buffett wrote on Saturday.\nFurthermore, it's worth noting that neither Berkshire nor the S&P saw many years where they delivered an average return. Most years either saw massive gains or very disappointing performance.Average almost never happens in markets.\nGreat stock pickers pick a lot of losers\nAnd just because Buffett may be one of the greatest stock pickers in history doesn't mean all of his stock picks have been winners over time.\nJust a quick glance atBerkshire's current top 15 stock investmentsreveals plenty of positions that are held below cost (i.e. they've lost money).\nBerkshire's top 15 equity holdings includes winners and losers. (Berkshire Hathaway)\nTo his credit, few people are more vocal aboutBuffett's mistakes than Buffett himself.\nIn 2020, Berkshire booked a $9.8 billion write-down on those assets. One massive\"mistake\"he discussed in his annual letter was Precision Castparts (PCC), a once publicly-traded company thatBerkshire acquired outright in 2016 in a $37 billion deal.\n\"I paid too much for the company,\" Buffett wrote. \"I believe I was right in concluding that PCC would, over time, earn good returns on the net tangible assets deployed in its operations. I was wrong, however, in judging the average amount of future earnings and, consequently, wrong in my calculation of the proper price to pay for the business.\"\n\"PCC is far from my first error of that sort,\" he added. \"But it’s a big one.\"\nIt's not hard to find times Buffett lost money on a trade or missed out on a big opportunity. Just a year ago,Berkshire dumped airline stocksnear their lows just before they roared back along with the otherreopening trades.\nBut a successful investor shouldn’t be judged by his or her mistakes. Rather, they should be judged by the degree to which they are able to achieve their long-term goals.\nThis goes for all investors who will repeatedly buy too late, sell too early, and miss out on big opportunities that become obvious in hindsight.\nSo if you're making a lot of mistakes but have a sound strategy and the discipline to stick to it during periods of underperformance, then maybe you too can be as imperfectly successful as Warren Buffett.\n*Since 2019, Buffett has presented Berkshire's performance as measured by market value. Prior to that, it was book value. Buffett made the change because he feltmarket value was going to better reflectthe performance of the company. For our purposes, all you need to know is that both Berkshire's book value and market value have smoked the S&P 500 over that half-century.","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":362405163,"gmtCreate":1614654160552,"gmtModify":1703479409313,"author":{"id":"3572863479502236","authorId":"3572863479502236","name":"PJoo","avatar":"https://static.tigerbbs.com/c1df329f4341646fc633446858d34c31","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3572863479502236","authorIdStr":"3572863479502236"},"htmlText":"Warren Buffet glorious days are over. Its now Cathy Woods!&nbsp;","listText":"Warren Buffet glorious days are over. Its now Cathy Woods!&nbsp;","text":"Warren Buffet glorious days are over. Its now Cathy Woods!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/362405163","repostId":1171744595,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3718457,"gmtCreate":1614899069237,"gmtModify":1614899069237,"authorId":72255906051175,"author":{"id":72255906051175,"idStr":"72255906051175","authorId":72255906051175,"name":"FlyeBoat","avatar":"https://static.tigerbbs.com/570d39d83a777037719adb01f5faecd7","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":362405163,"type":1,"supId":0,"prevId":0,"content":"How about now?","text":"How about now?","html":"How about now?"}],"langContent":"EN"},{"id":362184699,"gmtCreate":1614607949211,"gmtModify":1703478790211,"author":{"id":"3567411499210880","authorId":"3567411499210880","name":"Nebhol","avatar":"https://static.tigerbbs.com/b0bfc2a45b91e41a283614268857b3a5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3567411499210880","authorIdStr":"3567411499210880"},"htmlText":"Gambling","listText":"Gambling","text":"Gambling","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362184699","repostId":1171744595,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":362183468,"gmtCreate":1614607585754,"gmtModify":1703478781350,"author":{"id":"3575261937306050","authorId":"3575261937306050","name":"JoeK","avatar":"https://static.tigerbbs.com/162445e8b6a553bd412b8a06e3f44c9e","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3575261937306050","authorIdStr":"3575261937306050"},"htmlText":"Which is why he advises most people to just go with ETFs. U can't go wrong","listText":"Which is why he advises most people to just go with ETFs. U can't go wrong","text":"Which is why he advises most people to just go with ETFs. U can't go wrong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362183468","repostId":1171744595,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":362198668,"gmtCreate":1614604692854,"gmtModify":1703478739064,"author":{"id":"3571138244210053","authorId":"3571138244210053","name":"Xander95","avatar":"https://static.tigerbbs.com/13864d4ee1c595b32921f4844af4a478","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3571138244210053","authorIdStr":"3571138244210053"},"htmlText":"Sounds too good to be true&nbsp;","listText":"Sounds too good to be true&nbsp;","text":"Sounds too good to be true","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362198668","repostId":1171744595,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":362328946,"gmtCreate":1614599336885,"gmtModify":1703478664414,"author":{"id":"3561534918172425","authorId":"3561534918172425","name":"Jrrr92","avatar":"https://static.tigerbbs.com/3713f77c17599af04b8943281769ec65","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3561534918172425","authorIdStr":"3561534918172425"},"htmlText":"Waiting for that too..","listText":"Waiting for that too..","text":"Waiting for that too..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362328946","repostId":1171744595,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":24,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1171744595"}