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Looking Back on Berkshire’s Outperformance
2025/3/25
Motley Fool Money
J
Jim Gillies
Jim Gillies: 伯克希尔哈撒韦过去五年表现优异，远超标普500和纳斯达克指数。这主要归功于对苹果公司的成功投资以及及时止损的策略。尽管持有大量现金，但并未影响其投资回报。巴菲特坚持价值投资和长期投资原则，避免市场噪音，专注于自身能力圈内的投资。
伯克希尔哈撒韦持有巨额现金并非预示市场崩盘，而是为巴菲特退休后的平稳过渡和公司长期发展做准备。这体现了巴菲特的远见卓识和对投资者长期利益的负责。
我个人长期持有伯克希尔哈撒韦股票，并认为其仍然具有投资价值。
Ricky Mulvey: 与伯克希尔哈撒韦的出色表现形成对比的是，迪士尼过去五年的表现令人失望。这引发了对迪士尼未来发展战略的担忧。
Deep Dive
Despite holding a large cash reserve, Berkshire Hathaway significantly outperformed the market over the past five years. This success is attributed to smart investments in companies like Apple, strategic exits from underperforming assets, and a focus on long-term value investing within Buffett's circle of competence. The large cash balance is also viewed as preparation for leadership transition and not necessarily a prediction of a market crash.
- Berkshire Hathaway's 200% return over five years outperformed the S&P 500 and NASDAQ.
- Success attributed to Apple investment, strategic divestments from underperforming assets, and long-term value investing.
- Large cash reserves viewed as preparation for succession planning, not necessarily a market crash prediction.
Shownotes Transcript