Buffett speculates on stocks that go down and not up, analysis of Buffett's investment methods

  In the face of huge losses, Buffett adheres to the concept of value investing , buys more when it falls, and sometimes even takes the initiative to buy sets to wait for a rebound. In the end, he makes a lot of profits. Buffett buys stocks when they go down and not up. This has also become his famous investment method.

  How does Buffett's stock speculation cross the slump again?

  Buffett speculates on stocks

  The sharp decline since June this year has caused many A-share investors to suffer heavy losses. However, looking at the global stock market, you are not alone, because the U.S. stock market plummeted in August, and the "stock god" Buffett was not spared. Berkshire Hathaway, which is in charge, has suffered at least a paper loss caused by the stock market decline. 11.2 billion US dollars, which makes many investors who are reluctant to cut their flesh in this global stock market decline can't help but sigh: "There are times when 'stock gods' lose money." In fact, this is not the first time in the investment career of "stock gods". Tens of billions of dollars. So, how did the "stock god" survive huge floating losses and finally make big profits?

  According to statistics obtained by the "Daily Economic News" reporter, Buffett's last floating loss exceeded 10 billion US dollars, which occurred during the subprime mortgage crisis in 2008. Buffett's book loss was as high as 15 billion US dollars in two months. In the face of huge losses, Buffett adheres to the concept of value investment , buys more when it falls, and sometimes even actively buys sets to wait for a rebound, and finally makes a lot of profits, which has also become his famous investment method.

  "Stock God" also has a quilt

  In August this year, affected by the sharp drop in the U.S. stock market, Berkshire Hathaway, which is in charge of Buffett, suffered a paper loss of at least $11.2 billion due to stock market investments, a loss of 10.1%, and the S&P 500 index fell during the same period. up 10.1%.

  Specifically, in the past month or so, Berkshire Hathaway's share price of Viacom, the third largest U.S. media giant, has fallen by more than 31%. According to public information, Buffett bought Viacom shares in March 2012 at a cost of about $47. The company's stock price climbed to nearly $90 in July last year, but the current stock price is only $45. The price not only caught the "stock god", but also halved from the previous high point of the stock price.

  In addition, Buffett's long-held IBM [microblogging] fell nearly 17%, the stock has fallen 24% over the past year. Buffett's previous investment was to buy a tenth stake in oil refiner Philips 661 for $4.5 billion, and the company's stock price fell by more than 10% recently.

  In fact, the "Daily Economic News" noted that this is not the first time the "stock god" has been quilted. Judging from past history, it is not the first time that Buffett's overall book loss has exceeded 10 billion US dollars in just a few months.

  2008年9月——11月,当时次贷危机蔓延导致美股暴跌,2个月时间内巴菲特账面亏损高达150亿美元。数据显示,2008年全年,巴菲特共花费280亿美元进行各类收购和证券投资。

  当年9月23日,巴菲特宣布购入高盛50亿美元的永久性优先股,其普通股可转换价为115美元,彼时高盛股价仍在125美元以上。但随后风云突变,当年11月高盛股价一度跌至55美元,较巴菲特入股时暴跌了近55%,离115美元的普通股可转换价也相距甚远。

  2008年10月1日,巴菲特又宣布将向陷入困境的通用电气注资30亿美元,承诺以每股22.25美元的价格购入后者的普通股,当时通用电气尚收于24.50美元。不过,奇迹依然没有发生,通用电气股价此后一路下滑,至同年11月已跌至14.45美元,“‘股神’也会被深套”的声音不绝于媒体报端。

  主动买套 长期投资

  有意思的是,巴菲特似乎对购入高盛被深套不以为然,在次年致股东信中,他这样描述自己做出的决定,“去年在好的方面,我们从箭牌、高盛和GE购买了总计145亿美元的固定收益证券。我们非常喜欢这些交易,他们给我们带来了高额的利润,让这些投资非常令人满意。”

  巨亏还满意?如何带来高额利润呢?巴菲特此番令人费解的投资,在此后却得到了积极反馈。2013年3月高盛宣布,已经签订相关协议,将巴菲特拥有的购买高盛股票的权证,转换成高盛的股票,这使巴菲特成为高盛一个重要的股东,彼时的现金收益加上股票收益,巴菲特已净赚近31亿美元。

  股票被套是投资者不愿意遇见的情况,但巴菲特却反其道而行之,总是乐见好股票下跌而被“套牢”。巴菲特自己的解释是,“因为无论是股票还是短袜,我都乐于在商品减价的时候购买”,“价格是你付出的,价值是你得到的”。

  作为精明的投资人,巴菲特在许多股权投资上甚至获得了比美国政府还丰厚的条件,这也使得“股神”往往先人一步,提前埋伏成功抄底。

  Taking the Dow Jones Index as an example, if the daily K-line chart is elongated, it can be found that the trend of the Dow Jones Index can be divided into three stages from the end of the last century to the present: before 2000, 2000-2009, and 2009 to the present. Among them, the Dow Jones Index experienced The two largest adjustments in the U.S. stock market were the "9·11" incident, and the other was the intensification of the subprime mortgage crisis marked by the bankruptcy of the investment bank Lehman Brothers. Since then, with the U.S. government launching several rounds of quantitative easing policies at the end of 2008, and under the influence of factors such as the stabilization of the U.S. economy, U.S. stocks have been out of a six-year slow bull since early 2009. Until now, the Nasdaq has risen by as much as 200%, the S&P 500 has doubled, and the Dow has risen by more than 87%. Buffett, who has been buying dips in stocks since the second half of 2008, has gained a lot.

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