How did Buffett and qiaoshui fund deal with the last collapse of US stocks?

category:Finance
 How did Buffett and qiaoshui fund deal with the last collapse of US stocks?


The spread of the epidemic hit the global economy and spread panic. At this time, the stock market became a faster than who game. Investors rushed to sell shares, which led to the rapid decline of the market and further increased panic.

In these two sharp market correction, what have the outstanding investors in the market done? How does Buffett, Hillhouse capital, bridge water fund, Jinglin asset and tiger Global Fund respond?

According to the 13F position report of the U.S. sec in the corresponding period, FTU information analyzes how these tycoons face the panic market.

In January, 2018, Buffett copied the bottom of apple

On January 29, 2018, the S & P 500 index reached a record high of 2872 points, and then fell to 2532 points, or nearly 12%, the lowest in two weeks. Since then, the S & P 500 index has picked up slightly, with a larger increase in early January and an overall decline of only 1.22% in the first quarter of 2018.

Market source: futu securities >

This is the markets view on the adjustment of US stocks at that time. Lets see what Buffett bought in the first quarter of 2018.

Among the top ten stocks, Buffett increased his position in Apple by a large margin, with an increase of 44%. In the first quarter, Apples share price also experienced an adjustment, falling from $170 to $150 at the lowest. At this time, Buffett increased his position by a large margin, really responding to his saying greed when others are afraid and combining knowledge with practice.

Hillhouse capital is not so calm. Four of the top ten holding stocks have been significantly reduced. The first holding shares in Jingdong have been reduced by 28% and Alibaba by 48%. At the same time, Hillhouse increased its stake in Baiji Shenzhou by 40%.

In the case of qiaoshui fund, the panic mood is vividly displayed. Among the top ten ETFs, except Brazil market, gold and bond, the three ETFs did not reduce their holdings, the rest sold off in a large amount. The quarter of the reduction tracked the VWO of the S & P 500 index, and the EEM, iemg64 and 42% of the emerging market respectively.

The position adjustment of Jinglin assets is calm and self-confident. The increase of the increase and the decrease of the decrease. Among the top ten positions, New Oriental, Alibaba and Facebook have increased their positions significantly, and they have reduced their positions in happy gathering era and Momo.

Although the share price of New Oriental fell in 18 years, it soared 121% in 19 years. As of the end of 19, Jinglin assets also held 1.99 million shares of New Oriental. After the adjustment of the stock price, Alibaba also saw a good increase. At the end of the year, Jinglin assets held 3.99 million shares of Alibaba, the largest holding.

Tiger Global Fund showed the courage to copy the bottom. In addition to bookings 18% reduction and despegars unchanged, all the top ten positions were increased, and Amazon, Microsoft, Facebook and Netflix were significantly increased. This time, tiger Global Fund did copy right. In the next two quarters, U.S. stocks stabilized and star stocks reached a record high.

But in the fourth quarter of 2018, US stocks encountered a more substantial adjustment.

In the fourth quarter of 2018, Buffett didnt sell this time

On September 21, the S & P 500 index hit a record high of 2940 points in the intraday trading. It experienced another months long decline, with a minimum of 2346 points. In the fourth quarter of 2018, it fell nearly 14%, the second largest quarterly decline of the S & P 500 index after the 2008 economic crisis.

Market source: futu securities >

Similarly, first review the reasons why the market fell at that time. The initial fuse was the hawkish speech by the chairman of the Federal Reserve, which triggered the markets expectation of the Feds interest rate increase, led to the rapid rise of the US bond yield and the collective diving of the three major stock indexes of US stocks. Since then, the U.S. debt yield hangs upside down, high valuations of technology stocks, weak U.S. housing sales data and other factors have jointly caused this round of slump.

In the months long decline, Buffett is still very calm. After all, since the age of 11, there have been many God of stocks buying stocks. He really did not panic. Among the top ten positions, only apple and Wells Fargo reduced their holdings slightly, with a very limited range. But unlike in the first quarter, Berkshires position increase was very limited, with only a 40% increase in JPMorgan.

Hillhouse capital increased its position significantly this time, with iqiyi, Alibaba, tal and Youxin all taking a large proportion of the top ten positions, and only JD was reduced by 26%. At the same time, Hillhouse also increased its holdings of Amazon, Facebook and other star stocks in large proportion, but the market value of its positions is small, and it has not entered the top ten positions.

Different from the sharp cut of ETF in the first quarter, qiaoshui fund kept calm in this round of sharp adjustment of US stocks. ETFs with positions changed slightly. In addition, IVV, which tracks the S & P 500 index, gained 174% of positions, while iEMG, an emerging market, also increased 26%.

Jinglin asset also increased its holdings in most of the top ten positions, increasing its holdings by 22% in Alibaba. It also built a new position to compete with Duoduo, becoming the fourth largest position in one fell swoop. Momo gained a 339% increase, and tal gained a 547% increase.

Tiger Global Fund has changed a lot. Spotify and Microsoft, the first and second largest holding stocks, have changed slightly. JD, Fiat klester, Facebook and Apollo have all increased their positions in global management. In addition, Amazon, booking and Alibaba have all been reduced.

Through the analysis of the position changes of the tycoons during the recent sharp decline of American stocks, it is easy to find that these tycoons have maintained a considerable degree of calm, not only havent significantly reduced their heavy positions, but also increased their holdings of some stocks.

The market is always unpredictable, and there are new explanations for each decline. But for real investors, the market crash is not necessarily a bad thing. As Buffett said in an interview with CNBC last week, we should hope the market will fall, so that we can buy stocks at a lower price..