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lisa芥菜
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IP属地:安徽
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lisa芥菜
2021-02-17
$诺基亚(NOK)$
真好,再下去一些,我要加仓[想吃]
lisa芥菜
2020-08-22
$景顺抵押资本(IVR)$
痛快点,快跌快跌,看着就烦òᆺó
lisa芥菜
2020-07-06
你不是多军吗,咋变空军啦? [你懂的]
@阿蛮_2995:
$拼多多(PDD)$
做空的兄弟机会到了,今晚上开100,押上所有身价干
lisa芥菜
2020-06-18
$景顺抵押资本(IVR)$
母公司牛🐮掰!
lisa芥菜
2020-06-17
$拼多多(PDD)$
多多好有魅力,让我多也不敢多,空也不敢空 [比心]
lisa芥菜
2020-06-17
$拼多多(PDD)$
发现腾讯真的好聪明[开心] ,投个5000万$刀,拖着阿里、还来个千亿$市值、还多空双杀。哼!谁说多多不赚钱的!哼!人家不靠卖货赚钱…
lisa芥菜
2020-06-17
$拼多多(PDD)$
可怕[捂嘴] [捂嘴] [捂嘴]
lisa芥菜
2020-05-06
被这篇文章打动了,✓是打动!
炒股巨亏的巴菲特,可以教会我们什么
lisa芥菜
2020-05-06
[开心]
@终_____:
$波音(BA)$
天上飞的干不过邮轮[无语]
lisa芥菜
2020-05-01
$蔚来(NIO)$
昨天那一个点的上下来回割很多次就能看出来啦!啊! [吃瓜] [吃瓜] [吃瓜]
@自由的微风:
$蔚来(NIO)$
我怀疑这股被国内的一些私募狗,看评论区小散的表现,每天做波段割韭菜呢!
lisa芥菜
2020-04-30
$蔚来(NIO)$
大家觉得离谱吗?答:不离谱,没有实质销量出来, 应不会有大的变动。这是中概,不是美股,没有老特和大盘给你护盘!这是个苦读的孩子,没有后门可走!只幸好,有了个安家处。斌哥也没有钱💰来回购股票,推高股价,让我们笑茜茜。
lisa芥菜
2020-04-29
$蔚来(NIO)$
转来的,但分析的有点道理,虽然我是蔚来的小韭菜!因为一直做特斯拉,所以对新能源市场有些了解,同时对这种总是蹭热点的也很难不知道。断断续续发过一些关于这货的看法,今天因为合肥zf,一些骚年又亢奋了。1、合肥入股,对于投资者来说,其实意义并不大,且影响有限,的确能极大缓解蔚来目前的资金困境,但无法改变其核心投资价值!其实,合肥入股就是想把蔚来弄到当地,然后搞新能源汽车产业园,拉动经济,屁股决定脑袋,仅此而已。同时会提供一些比如税收、土地什么的优惠。市场才是检验真理的唯一标准!2、新能源汽车时代已经到来,现在还处于初期,接下来会有大量的新老司机入场,比如宝能、恒大都是数百亿的投入,70亿毛毛雨(而且我觉得可能还是分批给)。还有日本、德国的老牌车企,这种要资金有资金要技术有技术的老司机才是真正的对手!最后,小p、理想、威马等造车新势力。在竞争越来越激烈的环境中,除非有核心技术,不然最后就是肉搏,参考手机市场。可以预见,未来zf入股或者新能源汽车的项目会更多、规模会更大!3、我一直说,除了特斯拉(至少公开信息来看),国内其它车企的竞争目前还仅仅局限于新能源汽车这个层面,就是简单粗暴的从汽油车变成充电车。但其实新能源汽车不是这个样子的,新能源汽车之所以在现在这个时点爆发,有个极为重要的促发因素:5G!自动驾驶才是新能源汽车的星辰大海,没有自动驾驶的新能源汽车毫无存在价值,很不幸目前来看既有传统新能源汽车优势,又有自动驾驶核心技术的仅有特斯拉。相对来说,要单纯做大众水平的新能源汽车,只要解决电池问题(锅内就是靠宁德时代),基本勉强能玩,锅内所谓的新能源汽车也仅仅只局限于这个层面!自动驾驶,锅内简直烂的跟个xiang一样,而短期根本不可能有较大变化,这块跟海外的差距天上地下!目前全球知名的自动驾
lisa芥菜
2020-04-29
$蔚来(NIO)$
大家有没有考虑过蔚来可能美股退市,然后香港直接上市,那我们买美股的会有什么影响?求懂的老韭菜给解答一下?🤩
lisa芥菜
2020-04-28
这篇文章不错,转发给大家看
抱歉,原内容已删除
lisa芥菜
2020-04-05
o
抱歉,原内容已删除
去老虎APP查看更多动态
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[你懂的]","listText":"你不是多军吗,咋变空军啦? [你懂的]","text":"你不是多军吗,咋变空军啦? [你懂的]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/940541384","repostId":"940563373","repostType":1,"repost":{"id":940563373,"gmtCreate":1594023369292,"gmtModify":1704203497454,"author":{"id":"3550675954817344","authorId":"3550675954817344","name":"阿蛮_2995","avatar":"https://static.tigerbbs.com/cc0fe59e30e70b041412496774b1c2e6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3550675954817344","idStr":"3550675954817344"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>做空的兄弟机会到了,今晚上开100,押上所有身价干","listText":"<a 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[捂嘴] ","text":"$拼多多(PDD)$可怕[捂嘴] [捂嘴] [捂嘴]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/955646400","isVote":1,"tweetType":1,"viewCount":1739,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":927167987,"gmtCreate":1588776582349,"gmtModify":1704178420970,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3548223941853068","idStr":"3548223941853068"},"themes":[],"htmlText":"被这篇文章打动了,✓是打动!","listText":"被这篇文章打动了,✓是打动!","text":"被这篇文章打动了,✓是打动!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/927167987","repostId":"1176664915","repostType":4,"repost":{"id":"1176664915","kind":"news","pubTimestamp":1588771588,"share":"https://www.laohu8.com/m/news/1176664915?lang=&edition=full","pubTime":"2020-05-06 21:26","market":"us","language":"zh","title":"炒股巨亏的巴菲特,可以教会我们什么","url":"https://stock-news.laohu8.com/highlight/detail?id=1176664915","media":"人神共奋","summary":"悲观者正确,乐观者成功.","content":"<p><b>1/4 </b><b><span>超越投资圈的巴菲特</span></b></p><p>虽然巴菲特号称“股神”,一年一次的股东会也成为全球投资者的“朝圣”,不过,<b>巴菲特的思想早已超越投资本身,成为对公司价值的全面思考。</b></p><p>巴菲特作为价值投资的集大成者,他的理念被投资界总结成“长期持有,以复利战胜市场”,但大部分人并没有意识到这种理念的由来。</p><p>跟共同基金和对冲基金不同,巴菲特的伯克希尔▪哈撒韦公司的投资业绩来源于所投资公司的财务利润(2018年美国会计准则调整之前),而非股价的涨跌,这使得巴菲特能超越股价,对公司经营和战略进行更本质的思考。</p><p><b>而巴菲特看待公司价值的角度,介于财务投资与战略投资之间——比一般财务投资者更注重企业战略而非股价增长,比一般战略投资者更注重经营利润而非与母公司的战略协同。</b></p><p>一个不在意股价涨跌的人,反而从股市中获得最多的利润。</p><p>巴菲特没有出过书,他在一年一度的股东会上的发言,是研究其思想的主要资料,所以,每一年的股东会都会超越投资圈,成为大众话题——不炒股的人,同样可以从中学到很多东西。</p><p>本文就从2020年的股东大会上巴菲特的发言中,列举<b>三个有意义的话题</b>。</p><p><b>2/4 </b><b><span>纠正错误的勇气</span></b></p><p>这次股东大会上的第一个焦点就是巴菲特在航空股上的投资失败。</p><p>巴菲特于今年2月底在46美元处加仓了100万股的达美航空,此前,巴菲特长期持有达美航空7000万股,还有西南航空。</p><p>美股2月19日见顶后,到2月底已经下跌了15%,按正常的思维(即不考虑疫情的严重性),这里确实有投资价值了。</p><p><b>然而,这次疫情无法纳入正常的思维。事实上,大部分欧美发达国家的投资者都低估了疫情的影响,又高估了本国的防控能力,巴菲特也不例外。</b>当时,意大利的疫情已经大爆发了,美国本土也不断传过来养老院被感染的消息,巴菲特仍然买入了受疫情影响最严重的航空公司的股票。</p><p>之后就是巴菲特“活久见”的段子——</p><p>3月8日,巴菲特:我活了89岁,只见过一次美股熔断。</p><p>3月9日,巴菲特:我活了89岁,只见过两次美股熔断。</p><p>3月12日,巴菲特:我活了89岁,只见过三次美股熔断。</p><p>3月16日,巴菲特:我活了89岁,只见过四次美股熔断。</p><p>达美航空最低时,距离巴菲特的买入价又下跌了近60%。</p><p><img src=\"https://static.tigerbbs.com/5ffef359d3e2d6e2a78c0d17bcbd5f7e\"></p><p>不过,巴菲特的投资理念一直是“只看中公司的长期价值,不在乎短期股价波动”,他之前的很多经典投资案例也都是一两年内先跌个30%,再一路慢慢上涨几倍,充分体现了“复利”的魅力。</p><p>出于对股神的信任,大多数人相信,巴菲特的这次投资仍然只是以往模式的延续,巴菲特仍然会坚定持有,甚至越跌越买。</p><p>但到了4月4日,令人震惊的消息传来,公开信息显示巴菲特突然卖掉了1300万股达美航空。当时有很多猜测,其中有一种看法认为,巴菲特要把持股比例降到10%以下,这样就不用再公开信息了。这种解释本质上还是体现了大家对巴菲特“不做短线交易”的信仰。</p><p>答案到了本次股东大会终于揭晓,巴菲特坦言已经卖掉了全部持有的航空股,也就是说,从4月初的第一笔减持之后,巴菲特一直在“卖卖卖”。</p><p>虽然近十几年,巴菲特的业绩有时比不上平均水平,但那只是投资风格的差异,但这一次,巴菲特确确实实是犯了一个错误。</p><p>股东会上,巴菲特解释说,在他做出买入决定时,他考虑了当时航空股的红利状况,他认为这些航空公司的经营仍然良好,因此这是一个有投资价值的价格。但到了4月份,在政府警告大家不要旅行后,一切都变了。</p><p>巴菲特意识到,这次疫情对航空业的影响可能是长期的,很多人可能在未来两三年内大量降低坐飞机出行的频次,导致航空公司现有飞机数量过剩,而航空业的负债率又非常高,如果经营不能恢复到之前大部分的水平,很多公司甚至可能因此破产。</p><p><b>巴菲特解释说,他不会因为一家公司的股价下跌了30%或40%就对它失去信任,但航空业的未来一下子变得模糊不清了,在看不清的时候,宁可先卖掉。</b></p><p>这真是巴菲特了不起的地方,成熟投资者的理念具有延续性,<b>大部分人在发现自己有可能犯了错,但并不确定是否真是一个错误之后,最典型的反应往往是“否认错误”,</b>他们会想——</p><p>“这种情况以前也发生过,后来不都没事了吗……”</p><p>“要相信自己,现在就是考验人的意志是否坚定的时候……”</p><p><b>在意识到自己真的有可能犯错之后,另一个典型的反应是“拖延”。</b>特别是公众人物还会担心,承认错误已经是对自己“一向正确”的形象的打击。如果承认后,发现这并不是一个错误,那就又多了一条“意志不坚定”的公众印象,更是“左右打脸”。</p><p>再加上投资的结果往往要很久以后才能显现,大部分人选择的都是坚持自己没错,所以很多公众人物很容易把小错拖成大错,</p><p>这也足见巴菲特“自我打脸”的不容易。<b>如果从维护公众形象的角度,巴菲特完全可以慢慢地卖,拖上一两年,等大家渐渐遗忘了再清仓。</b></p><p>巴菲特的“自我打脸”不是第一次了,之前他声称不会投资苹果这种科技企业,但现在苹果已经成了他的第一重仓股。</p><p>他也有过“左右打脸”的经历,他之前说看不懂IBM这样的科技企业,后来却在IBM股价高企的时候“看懂了”,买入后亏损了几年,最后发现还是看不懂,只好全部清仓,</p><p><b>敢于自我打脸,才是真正有自信的表现,公众人物很容易自己给自己“加戏”,其实哪有那么多人关注你的一举一动。</b></p><p>对于我个人而言,巴菲特这次给我最大触动是,他只是对航空业的前景有所怀疑,就一次性卖掉了全部持有很多年的股票。这一点,我确实做不到,我在不是特别确定时,通常会一部分一部分的卖,有时还希望等候一个相对高一点的价位再卖,也不会在大跌后卖出,但这种应对本质上还是对自己的错误心存侥幸。</p><p><img src=\"https://static.tigerbbs.com/cfd44bd31f9792870c4230f27b2a4abe\"></p><p><b>巴菲特对航空公司股票的处理,体现了他谨慎的一面。但总体上而言,巴菲特仍然是一个非常乐观的人,他在股东会上仍然一如继往的看多美国经济,认为现在是买股票的好时候。</b></p><p>这就是巴菲特股东会上第二个核心主题,他是如何把握“对未来的乐观”与“对投资的谨慎”之间的平衡的呢?</p><p>这个问题对于不炒股的普通人,同样有意义。</p><p><b>3/4 </b><b><span>悲观者正确,乐观者成功</span></b></p><p>股东会上,一位加拿大的投资者问了一个很尖锐的问题,大意是说:巴菲特先生,您自称做空美国没有好下场,还说现在是买股票的好时候,可您却在4月份净卖出,现在账上还趴着4000亿的现金,您不是在忽悠我们“为国接盘”吧?</p><p>对于这个具有典型散户思维的“阴谋论”问题,巴菲特是这么解释的:</p><p><b>他所谓的“现在是最好的买入时机”,前提是长期看好,而且要做好两方面的准备:一是财务上的,因为短期内必须防止最坏的情况发生,二是心理上的,每一个人对损失的承受程度是不同的,买入时必须考虑这一点。</b></p><p>巴菲特将今年的危机与2008年的金融危机对比,认为2008年是火车偏离轨道,而今年是我们主动让火车暂时停下来。</p><p><b>听上去,巴菲特这次对危机的结果更乐观;但实际应对上,巴菲特这次却更谨慎。</b></p><p>2008年的金融危机最严重的时候,巴菲特已经开始大手笔买入,半年之后美股才见底;而这次,伯克希尔公司至今仍然保留了大量现金,仍然在防止最坏的事情发生。</p><p><b>原因在于,2008年的危机虽严重,但都是经典的危机,也有经典的答案;这次的危机毫无先例可参考,虽然仍然乐观,但短期的不确定性也更强。</b></p><p>所以,2008年的危机中,巴菲特增持了公用事业公司和工业类公司(对比亚迪的投资就是那时候开始的),大量减仓消费公司和金融行业;而今年,巴菲特在减持航空业的同时,仍然保留了金融和消费公司。这正是对“火车偏离轨道”和“火车暂停”这两类不同问题的积极应对——上次的问题是过度消费和过度举债,这次的问题是生活习惯的改变。</p><p>所以乐观的心态与谨慎的应对都是因时而异,因势而异的。</p><p>巴菲特的这些解释,很像我们很熟悉的“前途是光明的,道路是曲折的”,是长期策略和短期策略的平衡:</p><p><b>不光是投资,大部分事情上,都是“悲观者经常正确,乐观者最终成功”。</b></p><p>“悲观者经常正确”,这在现实生活中很常见,当你想做一件不太常见的事情时,总是有好心人列举一堆风险,劝你小心。事实上,越少有人做的事,成功率越低,所以悲观者经常正确,但代价就是——纯粹的悲观者总是平平淡淡地过完这一生。</p><p><b>从传播学的角度,对未来持悲观态度的观点,往往更能吸引眼球,更能给人“世人皆醉我独醒”的感觉。它们看似正确,但实际上,这些悲剧的论调往往对应着我们内心深处的“惰性”</b>——不要跳槽、不要创业、不要投资,不要买房、不要结婚,不要离婚,不要二胎……,总之不要有任何改变,因为一切都有可能是错的。</p><p>所以,“乐观者最终成功”并不是说乐观就能成功,而是指对未来必须持有长期乐观的心态,你才愿意积极应对短期波动。</p><p><img src=\"https://static.tigerbbs.com/2a9297120ab650072c31fb9fbf92a9d0\"><b>4/4 </b><b><span>找一个可以干到老的工作</span></b></p><p>本次股东会创造了两个第一,第一次使用在线直播,巴菲特第一次使用PPT。</p><p>后者大家可能觉得有点惊讶,但如果你考虑到巴菲特出生于1930年,已是90高龄,你恐怕会想到另一个问题:</p><p>一般人能活到这个年纪已经不容易了,还要进行这么复杂的思考,用很简洁的语言表达自己深邃的思想,而且思维敏捷,所有的问题都应答如流,不得不说是一个奇迹。</p><p><b>几年前,正是因为巴菲特和比他还要大6岁的投资伙伴芒格,我才开始思考一个严肃的问题:我是不是应该做一份可以干到老的工作?</b></p><p>比起那些对年轻人更友好的职业,投资真是一个越老越香的职业。某私募网站对基金经理的年龄和业绩回报做过相关性统计,结果显示,60后经理基金,不管是五年平均业绩,还是夏普指数(一个评价基金业绩稳定性的指标),都明显超过70、80和90后基金经理。</p><p><b>到老了还要工作,有些人可能觉得这样的人生很可悲,但那是因为你没有找到值得为之努力、又确实属于“越老越香”的事业。</b></p><p>我遇到过很多自称多少岁之后赚到多少钱就退休的人,要么无法在退休之前赚到这么多钱,要么赚到这么多钱却不肯退休。<b>我觉得最重要的原因,你必须热爱自己正在做的事,并愿意为之付出一生。</b></p><p>就像巴菲特说:“我有60年都是跳着踢踏舞去工作,因为我做我喜欢做的,我感觉很幸运。”</p><p><img src=\"https://static.tigerbbs.com/a5810bd02b2c6d2611b1c3d20c6187f0\"></p>","source":"lsy1583721040246","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n炒股巨亏的巴菲特,可以教会我们什么\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-05-06 21:26 北京时间 <a href=https://mp.weixin.qq.com/s/5LpmQWGJ7ihj9wXFfHSSdg><strong>人神共奋</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>1/4 超越投资圈的巴菲特虽然巴菲特号称“股神”,一年一次的股东会也成为全球投资者的“朝圣”,不过,巴菲特的思想早已超越投资本身,成为对公司价值的全面思考。巴菲特作为价值投资的集大成者,他的理念被投资界总结成“长期持有,以复利战胜市场”,但大部分人并没有意识到这种理念的由来。跟共同基金和对冲基金不同,巴菲特的伯克希尔▪哈撒韦公司的投资业绩来源于所投资公司的财务利润(2018年美国会计准则调整之前)...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/5LpmQWGJ7ihj9wXFfHSSdg\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1b9fef028787bba142fa31212ae49d2","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://mp.weixin.qq.com/s/5LpmQWGJ7ihj9wXFfHSSdg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176664915","content_text":"1/4 超越投资圈的巴菲特虽然巴菲特号称“股神”,一年一次的股东会也成为全球投资者的“朝圣”,不过,巴菲特的思想早已超越投资本身,成为对公司价值的全面思考。巴菲特作为价值投资的集大成者,他的理念被投资界总结成“长期持有,以复利战胜市场”,但大部分人并没有意识到这种理念的由来。跟共同基金和对冲基金不同,巴菲特的伯克希尔▪哈撒韦公司的投资业绩来源于所投资公司的财务利润(2018年美国会计准则调整之前),而非股价的涨跌,这使得巴菲特能超越股价,对公司经营和战略进行更本质的思考。而巴菲特看待公司价值的角度,介于财务投资与战略投资之间——比一般财务投资者更注重企业战略而非股价增长,比一般战略投资者更注重经营利润而非与母公司的战略协同。一个不在意股价涨跌的人,反而从股市中获得最多的利润。巴菲特没有出过书,他在一年一度的股东会上的发言,是研究其思想的主要资料,所以,每一年的股东会都会超越投资圈,成为大众话题——不炒股的人,同样可以从中学到很多东西。本文就从2020年的股东大会上巴菲特的发言中,列举三个有意义的话题。2/4 纠正错误的勇气这次股东大会上的第一个焦点就是巴菲特在航空股上的投资失败。巴菲特于今年2月底在46美元处加仓了100万股的达美航空,此前,巴菲特长期持有达美航空7000万股,还有西南航空。美股2月19日见顶后,到2月底已经下跌了15%,按正常的思维(即不考虑疫情的严重性),这里确实有投资价值了。然而,这次疫情无法纳入正常的思维。事实上,大部分欧美发达国家的投资者都低估了疫情的影响,又高估了本国的防控能力,巴菲特也不例外。当时,意大利的疫情已经大爆发了,美国本土也不断传过来养老院被感染的消息,巴菲特仍然买入了受疫情影响最严重的航空公司的股票。之后就是巴菲特“活久见”的段子——3月8日,巴菲特:我活了89岁,只见过一次美股熔断。3月9日,巴菲特:我活了89岁,只见过两次美股熔断。3月12日,巴菲特:我活了89岁,只见过三次美股熔断。3月16日,巴菲特:我活了89岁,只见过四次美股熔断。达美航空最低时,距离巴菲特的买入价又下跌了近60%。不过,巴菲特的投资理念一直是“只看中公司的长期价值,不在乎短期股价波动”,他之前的很多经典投资案例也都是一两年内先跌个30%,再一路慢慢上涨几倍,充分体现了“复利”的魅力。出于对股神的信任,大多数人相信,巴菲特的这次投资仍然只是以往模式的延续,巴菲特仍然会坚定持有,甚至越跌越买。但到了4月4日,令人震惊的消息传来,公开信息显示巴菲特突然卖掉了1300万股达美航空。当时有很多猜测,其中有一种看法认为,巴菲特要把持股比例降到10%以下,这样就不用再公开信息了。这种解释本质上还是体现了大家对巴菲特“不做短线交易”的信仰。答案到了本次股东大会终于揭晓,巴菲特坦言已经卖掉了全部持有的航空股,也就是说,从4月初的第一笔减持之后,巴菲特一直在“卖卖卖”。虽然近十几年,巴菲特的业绩有时比不上平均水平,但那只是投资风格的差异,但这一次,巴菲特确确实实是犯了一个错误。股东会上,巴菲特解释说,在他做出买入决定时,他考虑了当时航空股的红利状况,他认为这些航空公司的经营仍然良好,因此这是一个有投资价值的价格。但到了4月份,在政府警告大家不要旅行后,一切都变了。巴菲特意识到,这次疫情对航空业的影响可能是长期的,很多人可能在未来两三年内大量降低坐飞机出行的频次,导致航空公司现有飞机数量过剩,而航空业的负债率又非常高,如果经营不能恢复到之前大部分的水平,很多公司甚至可能因此破产。巴菲特解释说,他不会因为一家公司的股价下跌了30%或40%就对它失去信任,但航空业的未来一下子变得模糊不清了,在看不清的时候,宁可先卖掉。这真是巴菲特了不起的地方,成熟投资者的理念具有延续性,大部分人在发现自己有可能犯了错,但并不确定是否真是一个错误之后,最典型的反应往往是“否认错误”,他们会想——“这种情况以前也发生过,后来不都没事了吗……”“要相信自己,现在就是考验人的意志是否坚定的时候……”在意识到自己真的有可能犯错之后,另一个典型的反应是“拖延”。特别是公众人物还会担心,承认错误已经是对自己“一向正确”的形象的打击。如果承认后,发现这并不是一个错误,那就又多了一条“意志不坚定”的公众印象,更是“左右打脸”。再加上投资的结果往往要很久以后才能显现,大部分人选择的都是坚持自己没错,所以很多公众人物很容易把小错拖成大错,这也足见巴菲特“自我打脸”的不容易。如果从维护公众形象的角度,巴菲特完全可以慢慢地卖,拖上一两年,等大家渐渐遗忘了再清仓。巴菲特的“自我打脸”不是第一次了,之前他声称不会投资苹果这种科技企业,但现在苹果已经成了他的第一重仓股。他也有过“左右打脸”的经历,他之前说看不懂IBM这样的科技企业,后来却在IBM股价高企的时候“看懂了”,买入后亏损了几年,最后发现还是看不懂,只好全部清仓,敢于自我打脸,才是真正有自信的表现,公众人物很容易自己给自己“加戏”,其实哪有那么多人关注你的一举一动。对于我个人而言,巴菲特这次给我最大触动是,他只是对航空业的前景有所怀疑,就一次性卖掉了全部持有很多年的股票。这一点,我确实做不到,我在不是特别确定时,通常会一部分一部分的卖,有时还希望等候一个相对高一点的价位再卖,也不会在大跌后卖出,但这种应对本质上还是对自己的错误心存侥幸。巴菲特对航空公司股票的处理,体现了他谨慎的一面。但总体上而言,巴菲特仍然是一个非常乐观的人,他在股东会上仍然一如继往的看多美国经济,认为现在是买股票的好时候。这就是巴菲特股东会上第二个核心主题,他是如何把握“对未来的乐观”与“对投资的谨慎”之间的平衡的呢?这个问题对于不炒股的普通人,同样有意义。3/4 悲观者正确,乐观者成功股东会上,一位加拿大的投资者问了一个很尖锐的问题,大意是说:巴菲特先生,您自称做空美国没有好下场,还说现在是买股票的好时候,可您却在4月份净卖出,现在账上还趴着4000亿的现金,您不是在忽悠我们“为国接盘”吧?对于这个具有典型散户思维的“阴谋论”问题,巴菲特是这么解释的:他所谓的“现在是最好的买入时机”,前提是长期看好,而且要做好两方面的准备:一是财务上的,因为短期内必须防止最坏的情况发生,二是心理上的,每一个人对损失的承受程度是不同的,买入时必须考虑这一点。巴菲特将今年的危机与2008年的金融危机对比,认为2008年是火车偏离轨道,而今年是我们主动让火车暂时停下来。听上去,巴菲特这次对危机的结果更乐观;但实际应对上,巴菲特这次却更谨慎。2008年的金融危机最严重的时候,巴菲特已经开始大手笔买入,半年之后美股才见底;而这次,伯克希尔公司至今仍然保留了大量现金,仍然在防止最坏的事情发生。原因在于,2008年的危机虽严重,但都是经典的危机,也有经典的答案;这次的危机毫无先例可参考,虽然仍然乐观,但短期的不确定性也更强。所以,2008年的危机中,巴菲特增持了公用事业公司和工业类公司(对比亚迪的投资就是那时候开始的),大量减仓消费公司和金融行业;而今年,巴菲特在减持航空业的同时,仍然保留了金融和消费公司。这正是对“火车偏离轨道”和“火车暂停”这两类不同问题的积极应对——上次的问题是过度消费和过度举债,这次的问题是生活习惯的改变。所以乐观的心态与谨慎的应对都是因时而异,因势而异的。巴菲特的这些解释,很像我们很熟悉的“前途是光明的,道路是曲折的”,是长期策略和短期策略的平衡:不光是投资,大部分事情上,都是“悲观者经常正确,乐观者最终成功”。“悲观者经常正确”,这在现实生活中很常见,当你想做一件不太常见的事情时,总是有好心人列举一堆风险,劝你小心。事实上,越少有人做的事,成功率越低,所以悲观者经常正确,但代价就是——纯粹的悲观者总是平平淡淡地过完这一生。从传播学的角度,对未来持悲观态度的观点,往往更能吸引眼球,更能给人“世人皆醉我独醒”的感觉。它们看似正确,但实际上,这些悲剧的论调往往对应着我们内心深处的“惰性”——不要跳槽、不要创业、不要投资,不要买房、不要结婚,不要离婚,不要二胎……,总之不要有任何改变,因为一切都有可能是错的。所以,“乐观者最终成功”并不是说乐观就能成功,而是指对未来必须持有长期乐观的心态,你才愿意积极应对短期波动。4/4 找一个可以干到老的工作本次股东会创造了两个第一,第一次使用在线直播,巴菲特第一次使用PPT。后者大家可能觉得有点惊讶,但如果你考虑到巴菲特出生于1930年,已是90高龄,你恐怕会想到另一个问题:一般人能活到这个年纪已经不容易了,还要进行这么复杂的思考,用很简洁的语言表达自己深邃的思想,而且思维敏捷,所有的问题都应答如流,不得不说是一个奇迹。几年前,正是因为巴菲特和比他还要大6岁的投资伙伴芒格,我才开始思考一个严肃的问题:我是不是应该做一份可以干到老的工作?比起那些对年轻人更友好的职业,投资真是一个越老越香的职业。某私募网站对基金经理的年龄和业绩回报做过相关性统计,结果显示,60后经理基金,不管是五年平均业绩,还是夏普指数(一个评价基金业绩稳定性的指标),都明显超过70、80和90后基金经理。到老了还要工作,有些人可能觉得这样的人生很可悲,但那是因为你没有找到值得为之努力、又确实属于“越老越香”的事业。我遇到过很多自称多少岁之后赚到多少钱就退休的人,要么无法在退休之前赚到这么多钱,要么赚到这么多钱却不肯退休。我觉得最重要的原因,你必须热爱自己正在做的事,并愿意为之付出一生。就像巴菲特说:“我有60年都是跳着踢踏舞去工作,因为我做我喜欢做的,我感觉很幸运。”","news_type":1},"isVote":1,"tweetType":1,"viewCount":2174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":927186631,"gmtCreate":1588774858523,"gmtModify":1704178401105,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3548223941853068","idStr":"3548223941853068"},"themes":[],"htmlText":"[开心]","listText":"[开心]","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/927186631","repostId":"927196241","repostType":1,"repost":{"id":927196241,"gmtCreate":1588770755584,"gmtModify":1704178364349,"author":{"id":"3547117101512240","authorId":"3547117101512240","name":"终_____","avatar":"https://static.tigerbbs.com/364e8e60571dbe146cf56914e70baf38","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3547117101512240","idStr":"3547117101512240"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BA\">$波音(BA)$</a>天上飞的干不过邮轮[无语] ","listText":"<a href=\"https://laohu8.com/S/BA\">$波音(BA)$</a>天上飞的干不过邮轮[无语] ","text":"$波音(BA)$天上飞的干不过邮轮[无语]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/927196241","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1995,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":924839334,"gmtCreate":1588267664028,"gmtModify":1704367229024,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3548223941853068","idStr":"3548223941853068"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>昨天那一个点的上下来回割很多次就能看出来啦!啊! [吃瓜] [吃瓜] [吃瓜] ","listText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>昨天那一个点的上下来回割很多次就能看出来啦!啊! [吃瓜] [吃瓜] [吃瓜] ","text":"$蔚来(NIO)$昨天那一个点的上下来回割很多次就能看出来啦!啊! [吃瓜] [吃瓜] [吃瓜]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/924839334","repostId":"924894545","repostType":1,"repost":{"id":924894545,"gmtCreate":1588267031587,"gmtModify":1704367225915,"author":{"id":"3500494053551917","authorId":"3500494053551917","name":"自由的微风","avatar":"https://static.tigerbbs.com/3fe77a5a1579b9370ab331985744afe8","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3500494053551917","idStr":"3500494053551917"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>我怀疑这股被国内的一些私募狗,看评论区小散的表现,每天做波段割韭菜呢!","listText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>我怀疑这股被国内的一些私募狗,看评论区小散的表现,每天做波段割韭菜呢!","text":"$蔚来(NIO)$我怀疑这股被国内的一些私募狗,看评论区小散的表现,每天做波段割韭菜呢!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/924894545","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":924963166,"gmtCreate":1588182734455,"gmtModify":1704366864419,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3548223941853068","idStr":"3548223941853068"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>大家觉得离谱吗?答:不离谱,没有实质销量出来, 应不会有大的变动。这是中概,不是美股,没有老特和大盘给你护盘!这是个苦读的孩子,没有后门可走!只幸好,有了个安家处。斌哥也没有钱💰来回购股票,推高股价,让我们笑茜茜。","listText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>大家觉得离谱吗?答:不离谱,没有实质销量出来, 应不会有大的变动。这是中概,不是美股,没有老特和大盘给你护盘!这是个苦读的孩子,没有后门可走!只幸好,有了个安家处。斌哥也没有钱💰来回购股票,推高股价,让我们笑茜茜。","text":"$蔚来(NIO)$大家觉得离谱吗?答:不离谱,没有实质销量出来, 应不会有大的变动。这是中概,不是美股,没有老特和大盘给你护盘!这是个苦读的孩子,没有后门可走!只幸好,有了个安家处。斌哥也没有钱💰来回购股票,推高股价,让我们笑茜茜。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/924963166","isVote":1,"tweetType":1,"viewCount":4535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":924019258,"gmtCreate":1588165620574,"gmtModify":1704366692919,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3548223941853068","idStr":"3548223941853068"},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>转来的,但分析的有点道理,虽然我是蔚来的小韭菜!因为一直做特斯拉,所以对新能源市场有些了解,同时对这种总是蹭热点的也很难不知道。断断续续发过一些关于这货的看法,今天因为合肥zf,一些骚年又亢奋了。1、合肥入股,对于投资者来说,其实意义并不大,且影响有限,的确能极大缓解蔚来目前的资金困境,但无法改变其核心投资价值!其实,合肥入股就是想把蔚来弄到当地,然后搞新能源汽车产业园,拉动经济,屁股决定脑袋,仅此而已。同时会提供一些比如税收、土地什么的优惠。市场才是检验真理的唯一标准!2、新能源汽车时代已经到来,现在还处于初期,接下来会有大量的新老司机入场,比如宝能、恒大都是数百亿的投入,70亿毛毛雨(而且我觉得可能还是分批给)。还有日本、德国的老牌车企,这种要资金有资金要技术有技术的老司机才是真正的对手!最后,小p、理想、威马等造车新势力。在竞争越来越激烈的环境中,除非有核心技术,不然最后就是肉搏,参考手机市场。可以预见,未来zf入股或者新能源汽车的项目会更多、规模会更大!3、我一直说,除了特斯拉(至少公开信息来看),国内其它车企的竞争目前还仅仅局限于新能源汽车这个层面,就是简单粗暴的从汽油车变成充电车。但其实新能源汽车不是这个样子的,新能源汽车之所以在现在这个时点爆发,有个极为重要的促发因素:5G!自动驾驶才是新能源汽车的星辰大海,没有自动驾驶的新能源汽车毫无存在价值,很不幸目前来看既有传统新能源汽车优势,又有自动驾驶核心技术的仅有特斯拉。相对来说,要单纯做大众水平的新能源汽车,只要解决电池问题(锅内就是靠宁德时代),基本勉强能玩,锅内所谓的新能源汽车也仅仅只局限于这个层面!自动驾驶,锅内简直烂的跟个xiang一样,而短期根本不可能有较大变化,这块跟海外的差距天上地下!目前全球知名的自动驾","text":"$蔚来(NIO)$转来的,但分析的有点道理,虽然我是蔚来的小韭菜!因为一直做特斯拉,所以对新能源市场有些了解,同时对这种总是蹭热点的也很难不知道。断断续续发过一些关于这货的看法,今天因为合肥zf,一些骚年又亢奋了。1、合肥入股,对于投资者来说,其实意义并不大,且影响有限,的确能极大缓解蔚来目前的资金困境,但无法改变其核心投资价值!其实,合肥入股就是想把蔚来弄到当地,然后搞新能源汽车产业园,拉动经济,屁股决定脑袋,仅此而已。同时会提供一些比如税收、土地什么的优惠。市场才是检验真理的唯一标准!2、新能源汽车时代已经到来,现在还处于初期,接下来会有大量的新老司机入场,比如宝能、恒大都是数百亿的投入,70亿毛毛雨(而且我觉得可能还是分批给)。还有日本、德国的老牌车企,这种要资金有资金要技术有技术的老司机才是真正的对手!最后,小p、理想、威马等造车新势力。在竞争越来越激烈的环境中,除非有核心技术,不然最后就是肉搏,参考手机市场。可以预见,未来zf入股或者新能源汽车的项目会更多、规模会更大!3、我一直说,除了特斯拉(至少公开信息来看),国内其它车企的竞争目前还仅仅局限于新能源汽车这个层面,就是简单粗暴的从汽油车变成充电车。但其实新能源汽车不是这个样子的,新能源汽车之所以在现在这个时点爆发,有个极为重要的促发因素:5G!自动驾驶才是新能源汽车的星辰大海,没有自动驾驶的新能源汽车毫无存在价值,很不幸目前来看既有传统新能源汽车优势,又有自动驾驶核心技术的仅有特斯拉。相对来说,要单纯做大众水平的新能源汽车,只要解决电池问题(锅内就是靠宁德时代),基本勉强能玩,锅内所谓的新能源汽车也仅仅只局限于这个层面!自动驾驶,锅内简直烂的跟个xiang一样,而短期根本不可能有较大变化,这块跟海外的差距天上地下!目前全球知名的自动驾","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":2,"commentSize":35,"repostSize":0,"link":"https://laohu8.com/post/924019258","isVote":1,"tweetType":1,"viewCount":9150,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3484863574705935","authorId":"3484863574705935","name":"赢在天下","avatar":"https://static.tigerbbs.com/9eb90f183e428cd5e9e156c07051993e","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3484863574705935","idStr":"3484863574705935"},"content":"作为蔚来es6车主,简单回应一下,转给原作者吧!蔚来有自动驾驶系统的研发团队,虽然跟特斯拉还有差距,但绝没有选装价格上的差距那么大。蔚来三电是自有产权的,只不过由宁德代工电池,240kw电机国产唯一。全铝车身生产线,全球顶尖。蔚来是用户企业,用户口碑爆棚,别说这是表象,那么多豪华品牌,谁做到了? 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href=\"https://laohu8.com/S/IVR\">$景顺抵押资本(IVR)$</a>母公司牛🐮掰!","text":"$景顺抵押资本(IVR)$母公司牛🐮掰!","images":[{"img":"https://static.tigerbbs.com/8ed4c6a3795c508d5477c9119313407a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":10,"repostSize":0,"link":"https://laohu8.com/post/955510963","isVote":1,"tweetType":1,"viewCount":4419,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3547729288194581","authorId":"3547729288194581","name":"新资本Jcap","avatar":"https://static.tigerbbs.com/b2ba7b7fc53fabd0d38e856d32051533","crmLevel":2,"crmLevelSwitch":0,"idStr":"3547729288194581","authorIdStr":"3547729288194581"},"content":"所以能涨吗","text":"所以能涨吗","html":"所以能涨吗"}],"imageCount":1,"langContent":"CN","totalScore":0},{"id":925442521,"gmtCreate":1588123892063,"gmtModify":1704366485691,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3548223941853068","authorIdStr":"3548223941853068"},"themes":[],"htmlText":"<a 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应不会有大的变动。这是中概,不是美股,没有老特和大盘给你护盘!这是个苦读的孩子,没有后门可走!只幸好,有了个安家处。斌哥也没有钱💰来回购股票,推高股价,让我们笑茜茜。","listText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>大家觉得离谱吗?答:不离谱,没有实质销量出来, 应不会有大的变动。这是中概,不是美股,没有老特和大盘给你护盘!这是个苦读的孩子,没有后门可走!只幸好,有了个安家处。斌哥也没有钱💰来回购股票,推高股价,让我们笑茜茜。","text":"$蔚来(NIO)$大家觉得离谱吗?答:不离谱,没有实质销量出来, 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[吃瓜] [吃瓜] [吃瓜] ","listText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>昨天那一个点的上下来回割很多次就能看出来啦!啊! [吃瓜] [吃瓜] [吃瓜] ","text":"$蔚来(NIO)$昨天那一个点的上下来回割很多次就能看出来啦!啊! [吃瓜] [吃瓜] [吃瓜]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/924839334","repostId":"924894545","repostType":1,"repost":{"id":924894545,"gmtCreate":1588267031587,"gmtModify":1704367225915,"author":{"id":"3500494053551917","authorId":"3500494053551917","name":"自由的微风","avatar":"https://static.tigerbbs.com/3fe77a5a1579b9370ab331985744afe8","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3500494053551917","authorIdStr":"3500494053551917"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>我怀疑这股被国内的一些私募狗,看评论区小散的表现,每天做波段割韭菜呢!","listText":"<a href=\"https://laohu8.com/S/NIO\">$蔚来(NIO)$</a>我怀疑这股被国内的一些私募狗,看评论区小散的表现,每天做波段割韭菜呢!","text":"$蔚来(NIO)$我怀疑这股被国内的一些私募狗,看评论区小散的表现,每天做波段割韭菜呢!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/924894545","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":927167987,"gmtCreate":1588776582349,"gmtModify":1704178420970,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3548223941853068","authorIdStr":"3548223941853068"},"themes":[],"htmlText":"被这篇文章打动了,✓是打动!","listText":"被这篇文章打动了,✓是打动!","text":"被这篇文章打动了,✓是打动!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/927167987","repostId":"1176664915","repostType":4,"repost":{"id":"1176664915","kind":"news","pubTimestamp":1588771588,"share":"https://www.laohu8.com/m/news/1176664915?lang=&edition=full","pubTime":"2020-05-06 21:26","market":"us","language":"zh","title":"炒股巨亏的巴菲特,可以教会我们什么","url":"https://stock-news.laohu8.com/highlight/detail?id=1176664915","media":"人神共奋","summary":"悲观者正确,乐观者成功.","content":"<p><b>1/4 </b><b><span>超越投资圈的巴菲特</span></b></p><p>虽然巴菲特号称“股神”,一年一次的股东会也成为全球投资者的“朝圣”,不过,<b>巴菲特的思想早已超越投资本身,成为对公司价值的全面思考。</b></p><p>巴菲特作为价值投资的集大成者,他的理念被投资界总结成“长期持有,以复利战胜市场”,但大部分人并没有意识到这种理念的由来。</p><p>跟共同基金和对冲基金不同,巴菲特的伯克希尔▪哈撒韦公司的投资业绩来源于所投资公司的财务利润(2018年美国会计准则调整之前),而非股价的涨跌,这使得巴菲特能超越股价,对公司经营和战略进行更本质的思考。</p><p><b>而巴菲特看待公司价值的角度,介于财务投资与战略投资之间——比一般财务投资者更注重企业战略而非股价增长,比一般战略投资者更注重经营利润而非与母公司的战略协同。</b></p><p>一个不在意股价涨跌的人,反而从股市中获得最多的利润。</p><p>巴菲特没有出过书,他在一年一度的股东会上的发言,是研究其思想的主要资料,所以,每一年的股东会都会超越投资圈,成为大众话题——不炒股的人,同样可以从中学到很多东西。</p><p>本文就从2020年的股东大会上巴菲特的发言中,列举<b>三个有意义的话题</b>。</p><p><b>2/4 </b><b><span>纠正错误的勇气</span></b></p><p>这次股东大会上的第一个焦点就是巴菲特在航空股上的投资失败。</p><p>巴菲特于今年2月底在46美元处加仓了100万股的达美航空,此前,巴菲特长期持有达美航空7000万股,还有西南航空。</p><p>美股2月19日见顶后,到2月底已经下跌了15%,按正常的思维(即不考虑疫情的严重性),这里确实有投资价值了。</p><p><b>然而,这次疫情无法纳入正常的思维。事实上,大部分欧美发达国家的投资者都低估了疫情的影响,又高估了本国的防控能力,巴菲特也不例外。</b>当时,意大利的疫情已经大爆发了,美国本土也不断传过来养老院被感染的消息,巴菲特仍然买入了受疫情影响最严重的航空公司的股票。</p><p>之后就是巴菲特“活久见”的段子——</p><p>3月8日,巴菲特:我活了89岁,只见过一次美股熔断。</p><p>3月9日,巴菲特:我活了89岁,只见过两次美股熔断。</p><p>3月12日,巴菲特:我活了89岁,只见过三次美股熔断。</p><p>3月16日,巴菲特:我活了89岁,只见过四次美股熔断。</p><p>达美航空最低时,距离巴菲特的买入价又下跌了近60%。</p><p><img src=\"https://static.tigerbbs.com/5ffef359d3e2d6e2a78c0d17bcbd5f7e\"></p><p>不过,巴菲特的投资理念一直是“只看中公司的长期价值,不在乎短期股价波动”,他之前的很多经典投资案例也都是一两年内先跌个30%,再一路慢慢上涨几倍,充分体现了“复利”的魅力。</p><p>出于对股神的信任,大多数人相信,巴菲特的这次投资仍然只是以往模式的延续,巴菲特仍然会坚定持有,甚至越跌越买。</p><p>但到了4月4日,令人震惊的消息传来,公开信息显示巴菲特突然卖掉了1300万股达美航空。当时有很多猜测,其中有一种看法认为,巴菲特要把持股比例降到10%以下,这样就不用再公开信息了。这种解释本质上还是体现了大家对巴菲特“不做短线交易”的信仰。</p><p>答案到了本次股东大会终于揭晓,巴菲特坦言已经卖掉了全部持有的航空股,也就是说,从4月初的第一笔减持之后,巴菲特一直在“卖卖卖”。</p><p>虽然近十几年,巴菲特的业绩有时比不上平均水平,但那只是投资风格的差异,但这一次,巴菲特确确实实是犯了一个错误。</p><p>股东会上,巴菲特解释说,在他做出买入决定时,他考虑了当时航空股的红利状况,他认为这些航空公司的经营仍然良好,因此这是一个有投资价值的价格。但到了4月份,在政府警告大家不要旅行后,一切都变了。</p><p>巴菲特意识到,这次疫情对航空业的影响可能是长期的,很多人可能在未来两三年内大量降低坐飞机出行的频次,导致航空公司现有飞机数量过剩,而航空业的负债率又非常高,如果经营不能恢复到之前大部分的水平,很多公司甚至可能因此破产。</p><p><b>巴菲特解释说,他不会因为一家公司的股价下跌了30%或40%就对它失去信任,但航空业的未来一下子变得模糊不清了,在看不清的时候,宁可先卖掉。</b></p><p>这真是巴菲特了不起的地方,成熟投资者的理念具有延续性,<b>大部分人在发现自己有可能犯了错,但并不确定是否真是一个错误之后,最典型的反应往往是“否认错误”,</b>他们会想——</p><p>“这种情况以前也发生过,后来不都没事了吗……”</p><p>“要相信自己,现在就是考验人的意志是否坚定的时候……”</p><p><b>在意识到自己真的有可能犯错之后,另一个典型的反应是“拖延”。</b>特别是公众人物还会担心,承认错误已经是对自己“一向正确”的形象的打击。如果承认后,发现这并不是一个错误,那就又多了一条“意志不坚定”的公众印象,更是“左右打脸”。</p><p>再加上投资的结果往往要很久以后才能显现,大部分人选择的都是坚持自己没错,所以很多公众人物很容易把小错拖成大错,</p><p>这也足见巴菲特“自我打脸”的不容易。<b>如果从维护公众形象的角度,巴菲特完全可以慢慢地卖,拖上一两年,等大家渐渐遗忘了再清仓。</b></p><p>巴菲特的“自我打脸”不是第一次了,之前他声称不会投资苹果这种科技企业,但现在苹果已经成了他的第一重仓股。</p><p>他也有过“左右打脸”的经历,他之前说看不懂IBM这样的科技企业,后来却在IBM股价高企的时候“看懂了”,买入后亏损了几年,最后发现还是看不懂,只好全部清仓,</p><p><b>敢于自我打脸,才是真正有自信的表现,公众人物很容易自己给自己“加戏”,其实哪有那么多人关注你的一举一动。</b></p><p>对于我个人而言,巴菲特这次给我最大触动是,他只是对航空业的前景有所怀疑,就一次性卖掉了全部持有很多年的股票。这一点,我确实做不到,我在不是特别确定时,通常会一部分一部分的卖,有时还希望等候一个相对高一点的价位再卖,也不会在大跌后卖出,但这种应对本质上还是对自己的错误心存侥幸。</p><p><img src=\"https://static.tigerbbs.com/cfd44bd31f9792870c4230f27b2a4abe\"></p><p><b>巴菲特对航空公司股票的处理,体现了他谨慎的一面。但总体上而言,巴菲特仍然是一个非常乐观的人,他在股东会上仍然一如继往的看多美国经济,认为现在是买股票的好时候。</b></p><p>这就是巴菲特股东会上第二个核心主题,他是如何把握“对未来的乐观”与“对投资的谨慎”之间的平衡的呢?</p><p>这个问题对于不炒股的普通人,同样有意义。</p><p><b>3/4 </b><b><span>悲观者正确,乐观者成功</span></b></p><p>股东会上,一位加拿大的投资者问了一个很尖锐的问题,大意是说:巴菲特先生,您自称做空美国没有好下场,还说现在是买股票的好时候,可您却在4月份净卖出,现在账上还趴着4000亿的现金,您不是在忽悠我们“为国接盘”吧?</p><p>对于这个具有典型散户思维的“阴谋论”问题,巴菲特是这么解释的:</p><p><b>他所谓的“现在是最好的买入时机”,前提是长期看好,而且要做好两方面的准备:一是财务上的,因为短期内必须防止最坏的情况发生,二是心理上的,每一个人对损失的承受程度是不同的,买入时必须考虑这一点。</b></p><p>巴菲特将今年的危机与2008年的金融危机对比,认为2008年是火车偏离轨道,而今年是我们主动让火车暂时停下来。</p><p><b>听上去,巴菲特这次对危机的结果更乐观;但实际应对上,巴菲特这次却更谨慎。</b></p><p>2008年的金融危机最严重的时候,巴菲特已经开始大手笔买入,半年之后美股才见底;而这次,伯克希尔公司至今仍然保留了大量现金,仍然在防止最坏的事情发生。</p><p><b>原因在于,2008年的危机虽严重,但都是经典的危机,也有经典的答案;这次的危机毫无先例可参考,虽然仍然乐观,但短期的不确定性也更强。</b></p><p>所以,2008年的危机中,巴菲特增持了公用事业公司和工业类公司(对比亚迪的投资就是那时候开始的),大量减仓消费公司和金融行业;而今年,巴菲特在减持航空业的同时,仍然保留了金融和消费公司。这正是对“火车偏离轨道”和“火车暂停”这两类不同问题的积极应对——上次的问题是过度消费和过度举债,这次的问题是生活习惯的改变。</p><p>所以乐观的心态与谨慎的应对都是因时而异,因势而异的。</p><p>巴菲特的这些解释,很像我们很熟悉的“前途是光明的,道路是曲折的”,是长期策略和短期策略的平衡:</p><p><b>不光是投资,大部分事情上,都是“悲观者经常正确,乐观者最终成功”。</b></p><p>“悲观者经常正确”,这在现实生活中很常见,当你想做一件不太常见的事情时,总是有好心人列举一堆风险,劝你小心。事实上,越少有人做的事,成功率越低,所以悲观者经常正确,但代价就是——纯粹的悲观者总是平平淡淡地过完这一生。</p><p><b>从传播学的角度,对未来持悲观态度的观点,往往更能吸引眼球,更能给人“世人皆醉我独醒”的感觉。它们看似正确,但实际上,这些悲剧的论调往往对应着我们内心深处的“惰性”</b>——不要跳槽、不要创业、不要投资,不要买房、不要结婚,不要离婚,不要二胎……,总之不要有任何改变,因为一切都有可能是错的。</p><p>所以,“乐观者最终成功”并不是说乐观就能成功,而是指对未来必须持有长期乐观的心态,你才愿意积极应对短期波动。</p><p><img src=\"https://static.tigerbbs.com/2a9297120ab650072c31fb9fbf92a9d0\"><b>4/4 </b><b><span>找一个可以干到老的工作</span></b></p><p>本次股东会创造了两个第一,第一次使用在线直播,巴菲特第一次使用PPT。</p><p>后者大家可能觉得有点惊讶,但如果你考虑到巴菲特出生于1930年,已是90高龄,你恐怕会想到另一个问题:</p><p>一般人能活到这个年纪已经不容易了,还要进行这么复杂的思考,用很简洁的语言表达自己深邃的思想,而且思维敏捷,所有的问题都应答如流,不得不说是一个奇迹。</p><p><b>几年前,正是因为巴菲特和比他还要大6岁的投资伙伴芒格,我才开始思考一个严肃的问题:我是不是应该做一份可以干到老的工作?</b></p><p>比起那些对年轻人更友好的职业,投资真是一个越老越香的职业。某私募网站对基金经理的年龄和业绩回报做过相关性统计,结果显示,60后经理基金,不管是五年平均业绩,还是夏普指数(一个评价基金业绩稳定性的指标),都明显超过70、80和90后基金经理。</p><p><b>到老了还要工作,有些人可能觉得这样的人生很可悲,但那是因为你没有找到值得为之努力、又确实属于“越老越香”的事业。</b></p><p>我遇到过很多自称多少岁之后赚到多少钱就退休的人,要么无法在退休之前赚到这么多钱,要么赚到这么多钱却不肯退休。<b>我觉得最重要的原因,你必须热爱自己正在做的事,并愿意为之付出一生。</b></p><p>就像巴菲特说:“我有60年都是跳着踢踏舞去工作,因为我做我喜欢做的,我感觉很幸运。”</p><p><img src=\"https://static.tigerbbs.com/a5810bd02b2c6d2611b1c3d20c6187f0\"></p>","source":"lsy1583721040246","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n炒股巨亏的巴菲特,可以教会我们什么\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-05-06 21:26 北京时间 <a href=https://mp.weixin.qq.com/s/5LpmQWGJ7ihj9wXFfHSSdg><strong>人神共奋</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>1/4 超越投资圈的巴菲特虽然巴菲特号称“股神”,一年一次的股东会也成为全球投资者的“朝圣”,不过,巴菲特的思想早已超越投资本身,成为对公司价值的全面思考。巴菲特作为价值投资的集大成者,他的理念被投资界总结成“长期持有,以复利战胜市场”,但大部分人并没有意识到这种理念的由来。跟共同基金和对冲基金不同,巴菲特的伯克希尔▪哈撒韦公司的投资业绩来源于所投资公司的财务利润(2018年美国会计准则调整之前)...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/5LpmQWGJ7ihj9wXFfHSSdg\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1b9fef028787bba142fa31212ae49d2","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://mp.weixin.qq.com/s/5LpmQWGJ7ihj9wXFfHSSdg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176664915","content_text":"1/4 超越投资圈的巴菲特虽然巴菲特号称“股神”,一年一次的股东会也成为全球投资者的“朝圣”,不过,巴菲特的思想早已超越投资本身,成为对公司价值的全面思考。巴菲特作为价值投资的集大成者,他的理念被投资界总结成“长期持有,以复利战胜市场”,但大部分人并没有意识到这种理念的由来。跟共同基金和对冲基金不同,巴菲特的伯克希尔▪哈撒韦公司的投资业绩来源于所投资公司的财务利润(2018年美国会计准则调整之前),而非股价的涨跌,这使得巴菲特能超越股价,对公司经营和战略进行更本质的思考。而巴菲特看待公司价值的角度,介于财务投资与战略投资之间——比一般财务投资者更注重企业战略而非股价增长,比一般战略投资者更注重经营利润而非与母公司的战略协同。一个不在意股价涨跌的人,反而从股市中获得最多的利润。巴菲特没有出过书,他在一年一度的股东会上的发言,是研究其思想的主要资料,所以,每一年的股东会都会超越投资圈,成为大众话题——不炒股的人,同样可以从中学到很多东西。本文就从2020年的股东大会上巴菲特的发言中,列举三个有意义的话题。2/4 纠正错误的勇气这次股东大会上的第一个焦点就是巴菲特在航空股上的投资失败。巴菲特于今年2月底在46美元处加仓了100万股的达美航空,此前,巴菲特长期持有达美航空7000万股,还有西南航空。美股2月19日见顶后,到2月底已经下跌了15%,按正常的思维(即不考虑疫情的严重性),这里确实有投资价值了。然而,这次疫情无法纳入正常的思维。事实上,大部分欧美发达国家的投资者都低估了疫情的影响,又高估了本国的防控能力,巴菲特也不例外。当时,意大利的疫情已经大爆发了,美国本土也不断传过来养老院被感染的消息,巴菲特仍然买入了受疫情影响最严重的航空公司的股票。之后就是巴菲特“活久见”的段子——3月8日,巴菲特:我活了89岁,只见过一次美股熔断。3月9日,巴菲特:我活了89岁,只见过两次美股熔断。3月12日,巴菲特:我活了89岁,只见过三次美股熔断。3月16日,巴菲特:我活了89岁,只见过四次美股熔断。达美航空最低时,距离巴菲特的买入价又下跌了近60%。不过,巴菲特的投资理念一直是“只看中公司的长期价值,不在乎短期股价波动”,他之前的很多经典投资案例也都是一两年内先跌个30%,再一路慢慢上涨几倍,充分体现了“复利”的魅力。出于对股神的信任,大多数人相信,巴菲特的这次投资仍然只是以往模式的延续,巴菲特仍然会坚定持有,甚至越跌越买。但到了4月4日,令人震惊的消息传来,公开信息显示巴菲特突然卖掉了1300万股达美航空。当时有很多猜测,其中有一种看法认为,巴菲特要把持股比例降到10%以下,这样就不用再公开信息了。这种解释本质上还是体现了大家对巴菲特“不做短线交易”的信仰。答案到了本次股东大会终于揭晓,巴菲特坦言已经卖掉了全部持有的航空股,也就是说,从4月初的第一笔减持之后,巴菲特一直在“卖卖卖”。虽然近十几年,巴菲特的业绩有时比不上平均水平,但那只是投资风格的差异,但这一次,巴菲特确确实实是犯了一个错误。股东会上,巴菲特解释说,在他做出买入决定时,他考虑了当时航空股的红利状况,他认为这些航空公司的经营仍然良好,因此这是一个有投资价值的价格。但到了4月份,在政府警告大家不要旅行后,一切都变了。巴菲特意识到,这次疫情对航空业的影响可能是长期的,很多人可能在未来两三年内大量降低坐飞机出行的频次,导致航空公司现有飞机数量过剩,而航空业的负债率又非常高,如果经营不能恢复到之前大部分的水平,很多公司甚至可能因此破产。巴菲特解释说,他不会因为一家公司的股价下跌了30%或40%就对它失去信任,但航空业的未来一下子变得模糊不清了,在看不清的时候,宁可先卖掉。这真是巴菲特了不起的地方,成熟投资者的理念具有延续性,大部分人在发现自己有可能犯了错,但并不确定是否真是一个错误之后,最典型的反应往往是“否认错误”,他们会想——“这种情况以前也发生过,后来不都没事了吗……”“要相信自己,现在就是考验人的意志是否坚定的时候……”在意识到自己真的有可能犯错之后,另一个典型的反应是“拖延”。特别是公众人物还会担心,承认错误已经是对自己“一向正确”的形象的打击。如果承认后,发现这并不是一个错误,那就又多了一条“意志不坚定”的公众印象,更是“左右打脸”。再加上投资的结果往往要很久以后才能显现,大部分人选择的都是坚持自己没错,所以很多公众人物很容易把小错拖成大错,这也足见巴菲特“自我打脸”的不容易。如果从维护公众形象的角度,巴菲特完全可以慢慢地卖,拖上一两年,等大家渐渐遗忘了再清仓。巴菲特的“自我打脸”不是第一次了,之前他声称不会投资苹果这种科技企业,但现在苹果已经成了他的第一重仓股。他也有过“左右打脸”的经历,他之前说看不懂IBM这样的科技企业,后来却在IBM股价高企的时候“看懂了”,买入后亏损了几年,最后发现还是看不懂,只好全部清仓,敢于自我打脸,才是真正有自信的表现,公众人物很容易自己给自己“加戏”,其实哪有那么多人关注你的一举一动。对于我个人而言,巴菲特这次给我最大触动是,他只是对航空业的前景有所怀疑,就一次性卖掉了全部持有很多年的股票。这一点,我确实做不到,我在不是特别确定时,通常会一部分一部分的卖,有时还希望等候一个相对高一点的价位再卖,也不会在大跌后卖出,但这种应对本质上还是对自己的错误心存侥幸。巴菲特对航空公司股票的处理,体现了他谨慎的一面。但总体上而言,巴菲特仍然是一个非常乐观的人,他在股东会上仍然一如继往的看多美国经济,认为现在是买股票的好时候。这就是巴菲特股东会上第二个核心主题,他是如何把握“对未来的乐观”与“对投资的谨慎”之间的平衡的呢?这个问题对于不炒股的普通人,同样有意义。3/4 悲观者正确,乐观者成功股东会上,一位加拿大的投资者问了一个很尖锐的问题,大意是说:巴菲特先生,您自称做空美国没有好下场,还说现在是买股票的好时候,可您却在4月份净卖出,现在账上还趴着4000亿的现金,您不是在忽悠我们“为国接盘”吧?对于这个具有典型散户思维的“阴谋论”问题,巴菲特是这么解释的:他所谓的“现在是最好的买入时机”,前提是长期看好,而且要做好两方面的准备:一是财务上的,因为短期内必须防止最坏的情况发生,二是心理上的,每一个人对损失的承受程度是不同的,买入时必须考虑这一点。巴菲特将今年的危机与2008年的金融危机对比,认为2008年是火车偏离轨道,而今年是我们主动让火车暂时停下来。听上去,巴菲特这次对危机的结果更乐观;但实际应对上,巴菲特这次却更谨慎。2008年的金融危机最严重的时候,巴菲特已经开始大手笔买入,半年之后美股才见底;而这次,伯克希尔公司至今仍然保留了大量现金,仍然在防止最坏的事情发生。原因在于,2008年的危机虽严重,但都是经典的危机,也有经典的答案;这次的危机毫无先例可参考,虽然仍然乐观,但短期的不确定性也更强。所以,2008年的危机中,巴菲特增持了公用事业公司和工业类公司(对比亚迪的投资就是那时候开始的),大量减仓消费公司和金融行业;而今年,巴菲特在减持航空业的同时,仍然保留了金融和消费公司。这正是对“火车偏离轨道”和“火车暂停”这两类不同问题的积极应对——上次的问题是过度消费和过度举债,这次的问题是生活习惯的改变。所以乐观的心态与谨慎的应对都是因时而异,因势而异的。巴菲特的这些解释,很像我们很熟悉的“前途是光明的,道路是曲折的”,是长期策略和短期策略的平衡:不光是投资,大部分事情上,都是“悲观者经常正确,乐观者最终成功”。“悲观者经常正确”,这在现实生活中很常见,当你想做一件不太常见的事情时,总是有好心人列举一堆风险,劝你小心。事实上,越少有人做的事,成功率越低,所以悲观者经常正确,但代价就是——纯粹的悲观者总是平平淡淡地过完这一生。从传播学的角度,对未来持悲观态度的观点,往往更能吸引眼球,更能给人“世人皆醉我独醒”的感觉。它们看似正确,但实际上,这些悲剧的论调往往对应着我们内心深处的“惰性”——不要跳槽、不要创业、不要投资,不要买房、不要结婚,不要离婚,不要二胎……,总之不要有任何改变,因为一切都有可能是错的。所以,“乐观者最终成功”并不是说乐观就能成功,而是指对未来必须持有长期乐观的心态,你才愿意积极应对短期波动。4/4 找一个可以干到老的工作本次股东会创造了两个第一,第一次使用在线直播,巴菲特第一次使用PPT。后者大家可能觉得有点惊讶,但如果你考虑到巴菲特出生于1930年,已是90高龄,你恐怕会想到另一个问题:一般人能活到这个年纪已经不容易了,还要进行这么复杂的思考,用很简洁的语言表达自己深邃的思想,而且思维敏捷,所有的问题都应答如流,不得不说是一个奇迹。几年前,正是因为巴菲特和比他还要大6岁的投资伙伴芒格,我才开始思考一个严肃的问题:我是不是应该做一份可以干到老的工作?比起那些对年轻人更友好的职业,投资真是一个越老越香的职业。某私募网站对基金经理的年龄和业绩回报做过相关性统计,结果显示,60后经理基金,不管是五年平均业绩,还是夏普指数(一个评价基金业绩稳定性的指标),都明显超过70、80和90后基金经理。到老了还要工作,有些人可能觉得这样的人生很可悲,但那是因为你没有找到值得为之努力、又确实属于“越老越香”的事业。我遇到过很多自称多少岁之后赚到多少钱就退休的人,要么无法在退休之前赚到这么多钱,要么赚到这么多钱却不肯退休。我觉得最重要的原因,你必须热爱自己正在做的事,并愿意为之付出一生。就像巴菲特说:“我有60年都是跳着踢踏舞去工作,因为我做我喜欢做的,我感觉很幸运。”","news_type":1},"isVote":1,"tweetType":1,"viewCount":2174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":385281136,"gmtCreate":1613554704625,"gmtModify":1613554704625,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3548223941853068","authorIdStr":"3548223941853068"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NOK\">$诺基亚(NOK)$</a>真好,再下去一些,我要加仓[想吃] ","listText":"<a href=\"https://laohu8.com/S/NOK\">$诺基亚(NOK)$</a>真好,再下去一些,我要加仓[想吃] ","text":"$诺基亚(NOK)$真好,再下去一些,我要加仓[想吃]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385281136","isVote":1,"tweetType":1,"viewCount":1918,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":940541384,"gmtCreate":1594028225548,"gmtModify":1704203539439,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3548223941853068","authorIdStr":"3548223941853068"},"themes":[],"htmlText":"你不是多军吗,咋变空军啦? [你懂的]","listText":"你不是多军吗,咋变空军啦? [你懂的]","text":"你不是多军吗,咋变空军啦? [你懂的]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/940541384","repostId":"940563373","repostType":1,"repost":{"id":940563373,"gmtCreate":1594023369292,"gmtModify":1704203497454,"author":{"id":"3550675954817344","authorId":"3550675954817344","name":"阿蛮_2995","avatar":"https://static.tigerbbs.com/cc0fe59e30e70b041412496774b1c2e6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3550675954817344","authorIdStr":"3550675954817344"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>做空的兄弟机会到了,今晚上开100,押上所有身价干","listText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>做空的兄弟机会到了,今晚上开100,押上所有身价干","text":"$拼多多(PDD)$做空的兄弟机会到了,今晚上开100,押上所有身价干","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/940563373","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":955646400,"gmtCreate":1592405337400,"gmtModify":1704199214232,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3548223941853068","authorIdStr":"3548223941853068"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>可怕[捂嘴] [捂嘴] [捂嘴] ","listText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>可怕[捂嘴] [捂嘴] [捂嘴] ","text":"$拼多多(PDD)$可怕[捂嘴] [捂嘴] [捂嘴]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/955646400","isVote":1,"tweetType":1,"viewCount":1739,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":927186631,"gmtCreate":1588774858523,"gmtModify":1704178401105,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3548223941853068","authorIdStr":"3548223941853068"},"themes":[],"htmlText":"[开心]","listText":"[开心]","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/927186631","repostId":"927196241","repostType":1,"repost":{"id":927196241,"gmtCreate":1588770755584,"gmtModify":1704178364349,"author":{"id":"3547117101512240","authorId":"3547117101512240","name":"终_____","avatar":"https://static.tigerbbs.com/364e8e60571dbe146cf56914e70baf38","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547117101512240","authorIdStr":"3547117101512240"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BA\">$波音(BA)$</a>天上飞的干不过邮轮[无语] ","listText":"<a href=\"https://laohu8.com/S/BA\">$波音(BA)$</a>天上飞的干不过邮轮[无语] ","text":"$波音(BA)$天上飞的干不过邮轮[无语]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/927196241","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1995,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":925299881,"gmtCreate":1588010577543,"gmtModify":1704366109742,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3548223941853068","authorIdStr":"3548223941853068"},"themes":[],"htmlText":"这篇文章不错,转发给大家看","listText":"这篇文章不错,转发给大家看","text":"这篇文章不错,转发给大家看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/925299881","repostId":"2030914018","repostType":2,"repost":{"id":"2030914018","kind":"news","pubTimestamp":1587996782,"share":"https://www.laohu8.com/m/news/2030914018?lang=&edition=full","pubTime":"2020-04-27 22:13","market":"us","language":"en","title":"The Zacks Analyst Blog Highlights: Facebook, Roche, Royal Dutch Shell, Uber Technologies and Lam Research","url":"https://stock-news.laohu8.com/highlight/detail?id=2030914018","media":"Zacks","summary":"For Immediate ReleaseChicago, IL – April 27, 2020 – Zacks.com announces the list of stocks featured ","content":"<html><body><div><p type=\"text\"><strong>For Immediate Release</strong></p><p type=\"text\">Chicago, IL – April 27, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: <a href=\"https://laohu8.com/S/FB\">Facebook</a> FB, Roche RHHBY, Royal Dutch Shell RDS.A, Uber Technologies UBER and Lam Research LRCX.</p><p type=\"text\"><strong>Here are highlights from Friday’s Analyst Blog: </strong></p><p type=\"text\"><strong><em>Top Research Reports for Facebook, Roche and Royal Dutch Shell</em></strong></p><p type=\"text\">The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Facebook, Roche and Royal Dutch Shell. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.</p><p type=\"text\">You can see <u><strong>all of </strong><strong>today’s research reports here >>></strong></u></p><p type=\"text\"><strong>Facebook</strong>’s shares have outperformed the S&P 500 over the past six months (-3.2% vs. -7.4%). The Zacks analyst believes that Facebook is benefiting from growth in Instagram Stories and Feed, and expanding user base in Asia Pacific.</p><p type=\"text\">The launch of Facebook View app, Facebook Pay, a simpler and faster Messenger for iOS app and more location control feature for Android users is a positive. However, Facebook expects ad-sales to be hurt by the coronavirus lockdowns despite a significant spike in traffic.</p><p type=\"text\">Moreover, increasing limitations in tracking user activity amid the growing privacy-related regulations and changes made in the mobile operating systems and browser platforms by Apple and Google as well as tools like the Off Facebook Activity controls are expected to affect top-line growth. Moreover, a persistent mix shift toward Stories is anticipated to weigh on ARPU.</p><p type=\"text\">Shares of <strong>Roche </strong>have gained +37.7% over the past year against the Zacks Large Cap Pharmaceuticals industry’s rise of +12%. The Zacks analyst believes that the Spark acquisition will boost Roche’s presence in the gene therapy space.</p><p type=\"text\">Roche’s performance in the first quarter was impressive as strong growth in Ocrevus, Perjeta, Tecentriq and Hemlibra countered biosimilar competition for Herceptin, MabThera and Avastin. Label expansion of Tecentriq into additional indications is a positive.</p><p type=\"text\">Roche is evaluating its RD drug, Actemra, for the treatment of COVID-19 and a positive outcome will be a great boost. However, most of the legacy drugs are facing biosimilar competition. While the company ensured that the global supply chain for medicines and tests remain intact, the COVID-19 outbreak will affect performance, going forward.</p><p type=\"text\"><strong>Royal Dutch Shell</strong>’s shares have lost -37.8% over the past three months against the Zacks International Integrated Oil industry’s fall of -33.7%. The Zacks analyst believes that Shell's reserve replacement ratio of just 76% indicates its inability to add proved reserves to its reserve base.</p><p type=\"text\">In response to the oil crash, Royal Dutch Shell plans to trim its 2020 capex by a minimum of $5 billion from the past projection, which should enhance Shell's free cash flow generation. Moreover, Shell boasts of an attractive dividend yield of more than 8.5% that appears safe and reliable. Further, Shell’s position as a major supplier of LNG should help the company meet the fuel’s growing demand and help cash flow to improve.</p><p type=\"text\">Meanwhile, a supply glut combined with coronavirus-induced demand destruction has sent oil crashing and considerably weakened Shell's profile, even forcing it to halt its buyback program. Considering these arguments, the stock - down 40% year to date - warrants a cautious stance.</p><p type=\"text\">Other noteworthy reports we are featuring today include Uber Technologies and Lam Research.</p><p type=\"text\"><strong>More Stock News: This Is Bigger than the iPhone!</strong></p><p type=\"text\">It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.</p><p type=\"text\">Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.</p><p type=\"text\"><strong><u>Click here for the 6 trades >></u></strong></p><p type=\"text\">Sheraz Mian<br/>Director of Research</p><p type=\"text\"><em>Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly </em><u><strong><em>Earnings Trends</em></strong> </u><em>and </em><u><strong><em>Earnings Preview</em></strong> </u><em>reports. If you want an email notification each time Sheraz publishes a new article, please </em><u><strong><em>click here>>></em></strong></u></p><div><p type=\"text\">Media Contact</p><p type=\"text\">Zacks Investment Research</p><p type=\"text\">800-767-3771 ext. 9339</p><p type=\"text\">support@zacks.com </p><p type=\"text\">https://www.zacks.com </p><p type=\"text\">Past performance is no guarantee of future results. Inherent in any investment is the potential for loss<strong>. </strong>This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.</p><p type=\"text\"><br/>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report<br/> <br/>Roche Holding AG (RHHBY) : Free Stock Analysis Report<br/> <br/>Lam Research Corporation (LRCX) : Free Stock Analysis Report<br/> <br/>Royal Dutch Shell <a href=\"https://laohu8.com/S/PLC\">PLC</a> (RDS.A) : Free Stock Analysis Report<br/> <br/>Facebook, Inc. (FB) : Free Stock Analysis Report<br/> <br/>Uber Technologies, Inc. (UBER) : Free Stock Analysis Report<br/> <br/>To read this article on Zacks.com click here.<br/> <br/>Zacks Investment Research</p></div></div></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Zacks Analyst Blog Highlights: Facebook, Roche, Royal Dutch Shell, Uber Technologies and Lam Research</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Zacks Analyst Blog Highlights: Facebook, Roche, Royal Dutch Shell, Uber Technologies and Lam Research\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-04-27 22:13 GMT+8 <a href=https://finance.yahoo.com/news/zacks-analyst-blog-highlights-facebook-141302338.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For Immediate ReleaseChicago, IL – April 27, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events...</p>\n\n<a href=\"https://finance.yahoo.com/news/zacks-analyst-blog-highlights-facebook-141302338.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/lo/api/res/1.2/FGVvDWDz6ywvzH4Gxmv0Ag--/YXBwaWQ9eXZpZGVvZmVlZHM7dz02MzU7aD00MDA-/https://media.zenfs.com/en-us/zacks.com/15426402bebf932325471c670e2a6d6f","relate_stocks":{"LRCX":"拉姆研究","UBER":"优步"},"source_url":"https://finance.yahoo.com/news/zacks-analyst-blog-highlights-facebook-141302338.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2030914018","content_text":"For Immediate ReleaseChicago, IL – April 27, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Facebook FB, Roche RHHBY, Royal Dutch Shell RDS.A, Uber Technologies UBER and Lam Research LRCX.Here are highlights from Friday’s Analyst Blog: Top Research Reports for Facebook, Roche and Royal Dutch ShellThe Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Facebook, Roche and Royal Dutch Shell. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>Facebook’s shares have outperformed the S&P 500 over the past six months (-3.2% vs. -7.4%). The Zacks analyst believes that Facebook is benefiting from growth in Instagram Stories and Feed, and expanding user base in Asia Pacific.The launch of Facebook View app, Facebook Pay, a simpler and faster Messenger for iOS app and more location control feature for Android users is a positive. However, Facebook expects ad-sales to be hurt by the coronavirus lockdowns despite a significant spike in traffic.Moreover, increasing limitations in tracking user activity amid the growing privacy-related regulations and changes made in the mobile operating systems and browser platforms by Apple and Google as well as tools like the Off Facebook Activity controls are expected to affect top-line growth. Moreover, a persistent mix shift toward Stories is anticipated to weigh on ARPU.Shares of Roche have gained +37.7% over the past year against the Zacks Large Cap Pharmaceuticals industry’s rise of +12%. The Zacks analyst believes that the Spark acquisition will boost Roche’s presence in the gene therapy space.Roche’s performance in the first quarter was impressive as strong growth in Ocrevus, Perjeta, Tecentriq and Hemlibra countered biosimilar competition for Herceptin, MabThera and Avastin. Label expansion of Tecentriq into additional indications is a positive.Roche is evaluating its RD drug, Actemra, for the treatment of COVID-19 and a positive outcome will be a great boost. However, most of the legacy drugs are facing biosimilar competition. While the company ensured that the global supply chain for medicines and tests remain intact, the COVID-19 outbreak will affect performance, going forward.Royal Dutch Shell’s shares have lost -37.8% over the past three months against the Zacks International Integrated Oil industry’s fall of -33.7%. The Zacks analyst believes that Shell's reserve replacement ratio of just 76% indicates its inability to add proved reserves to its reserve base.In response to the oil crash, Royal Dutch Shell plans to trim its 2020 capex by a minimum of $5 billion from the past projection, which should enhance Shell's free cash flow generation. Moreover, Shell boasts of an attractive dividend yield of more than 8.5% that appears safe and reliable. Further, Shell’s position as a major supplier of LNG should help the company meet the fuel’s growing demand and help cash flow to improve.Meanwhile, a supply glut combined with coronavirus-induced demand destruction has sent oil crashing and considerably weakened Shell's profile, even forcing it to halt its buyback program. Considering these arguments, the stock - down 40% year to date - warrants a cautious stance.Other noteworthy reports we are featuring today include Uber Technologies and Lam Research.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >>Sheraz MianDirector of ResearchNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>Media ContactZacks Investment Research800-767-3771 ext. 9339support@zacks.com https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report Lam Research Corporation (LRCX) : Free Stock Analysis Report Royal Dutch Shell PLC (RDS.A) : Free Stock Analysis Report Facebook, Inc. (FB) : Free Stock Analysis Report Uber Technologies, Inc. (UBER) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research","news_type":1},"isVote":1,"tweetType":1,"viewCount":1129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":921075234,"gmtCreate":1586024793028,"gmtModify":1704359999955,"author":{"id":"3548223941853068","authorId":"3548223941853068","name":"lisa芥菜","avatar":"https://static.tigerbbs.com/09c348836292500824e68e2c5d9c4b1c","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3548223941853068","authorIdStr":"3548223941853068"},"themes":[],"htmlText":"o","listText":"o","text":"o","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/921075234","repostId":"2024646665","repostType":2,"repost":{"id":"2024646665","kind":"highlight","pubTimestamp":1585810441,"share":"https://www.laohu8.com/m/news/2024646665?lang=&edition=full","pubTime":"2020-04-02 14:54","market":"hk","language":"zh","title":"嘉年华邮轮(CCL.US)将发行6250万股普通股 拟至多募资5亿美元","url":"https://stock-news.laohu8.com/highlight/detail?id=2024646665","media":"智通财经网","summary":"所得资金将用于一般公司用途。","content":"<html><body><article>\n<p>智通财经APP获悉,美东时间4月1日,<a href=\"https://laohu8.com/S/CCL\">嘉年华邮轮</a>(CCL.US)发布公告称,公司已为其即将公开发售的6250万股普通股完成定价,即每股8美元,以此计算,公司此轮将募资高达5亿美元,所得资金将用于一般公司用途。</p><p>值得注意的是,此次发行的普通股总额已从之前的12.5亿美元下调,预计将于2020年4月6日完成。同时,公司已授予承销商购买最多937.5万股额外股票的选择权,该选择权必须在2020年5月1日或之前行使。</p><p>此外,在另一份公司声明中,嘉年华邮轮称已向合资格买家发售总值40亿元的2023年到期的第一优先抵押债券和总值17.5亿元的2023年到期的5.75%可转换优先债券。</p><p>同时,公司已授予可转换债券的最初购买者在2020年4月18日或之前购买可转换债券的选择权,最多可额外购买总额为2.625亿美元的可转换债券本金。</p><p>据悉,<a href=\"https://laohu8.com/S/BAC\">美国银行</a>、<a href=\"https://laohu8.com/S/GS\">高盛</a>(GS.US)和<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>(JPM.US)将担任此次联席承销商。</p> </article></body></html>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n嘉年华邮轮(CCL.US)将发行6250万股普通股 拟至多募资5亿美元\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-04-02 14:54 北京时间 <a href=http://www.zhitongcaijing.com/content/detail/290254.html><strong>智通财经网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉,美东时间4月1日,嘉年华邮轮(CCL.US)发布公告称,公司已为其即将公开发售的6250万股普通股完成定价,即每股8美元,以此计算,公司此轮将募资高达5亿美元,所得资金将用于一般公司用途。值得注意的是,此次发行的普通股总额已从之前的12.5亿美元下调,预计将于2020年4月6日完成。同时,公司已授予承销商购买最多937.5万股额外股票的选择权,该选择权必须在2020年5月1日或...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/290254.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://img.zhitongcaijing.com/image/20200402/20200402145524_86272.png?x-oss-process=image/format,jpg/quality,Q_80","relate_stocks":{"CCL":"嘉年华邮轮"},"source_url":"http://www.zhitongcaijing.com/content/detail/290254.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2024646665","content_text":"智通财经APP获悉,美东时间4月1日,嘉年华邮轮(CCL.US)发布公告称,公司已为其即将公开发售的6250万股普通股完成定价,即每股8美元,以此计算,公司此轮将募资高达5亿美元,所得资金将用于一般公司用途。值得注意的是,此次发行的普通股总额已从之前的12.5亿美元下调,预计将于2020年4月6日完成。同时,公司已授予承销商购买最多937.5万股额外股票的选择权,该选择权必须在2020年5月1日或之前行使。此外,在另一份公司声明中,嘉年华邮轮称已向合资格买家发售总值40亿元的2023年到期的第一优先抵押债券和总值17.5亿元的2023年到期的5.75%可转换优先债券。同时,公司已授予可转换债券的最初购买者在2020年4月18日或之前购买可转换债券的选择权,最多可额外购买总额为2.625亿美元的可转换债券本金。据悉,美国银行、高盛(GS.US)和摩根大通(JPM.US)将担任此次联席承销商。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}