The letter quickly spread on Chinese social media, and also led domestic media to send letters to Berkshire for verification. It turned out to be a farce. The letter was forged by David Scott Portnoy, an American Internet celebrity, who imitated Buffetts tone.
In fact, Buffetts status as a stock god has been questioned many times on social platforms in the United States. The bull market of American stock in recent years has made some junk stocks rise sharply, and Buffetts theory of value investment has been ridiculed for many times.
Mr. Buffett is 89 years old, and he is asked about retirement almost every time Berkshire shareholders meeting, and the answer given by him is to wait and wait.
There has never been more criticism of Buffett than this year. The main reasons are as follows:
First of all, Buffetts Berkshire Hathaway company reported a net loss of 49.7 billion US dollars in the first quarter, about 350 billion yuan, which is the largest quarterly investment loss in the companys history.
Second, the novel coronavirus pneumonia epidemic affected US stocks in the first quarter, and Buffett quickly cut off the shares in April. The cash held by the company has also set a record for Berkshire, exceeding US $130 billion. According to Berkshires position report, there is little action to copy the bottom. In recent years, Buffett has also been complaining that the market is completely overvalued and many stocks are priced too high. Buffett has been cautious about buying American stocks in large quantities.
Finally, Buffetts investment style is still in the habit of many years, holding a large number of financial stocks, skeptical of technology stocks, and almost missed the dividend of this wave of technology stocks. In the bull market that began in 2009, Berkshires share price performance has been lagging behind the standard 500 index, during which Berkshires class A shares rose 180%, while the S & P 500 index rose 243%.
Berkshires poor investment performance in recent years has also raised strong doubts among its shareholders. Several well-known long-term investors sold shares in Berkshire. For example, Rolf, chief investment officer of Wedgewood partners, who has been a shareholder of Berkshire for decades, said he would sell tens of millions of dollars worth of shares in the company and thought Buffett had missed the investment opportunity.
How was Buffetts position in the second quarter?
According to Berkshires position in the first quarter and the position changes in the second quarter, the securities times u00b7 data Bao roughly shows that up to now, Buffetts portfolio has realized an investment income of more than 40 billion dollars in the second quarter (280 billion yuan, Baidus current market value is more than 40 billion dollars).
Specifically, apple contributed half of the income of Buffetts portfolio. Apple is the largest shareholder in Buffetts portfolio, accounting for 35.5%. At the end of the first quarter, Buffetts portfolio held 245 million shares of apple, accounting for nearly 6% of Apples total equity, with a value of 62.34 billion US dollars. Since April, Apples share price has achieved a 38% increase. It can be seen from the calculation that Buffetts shareholding increased by 24 billion US dollars.
Bank of America, kraft Heinz, American Express, Moodys and Coca Cola contributed a lot to Buffetts investment income. In the second quarter, the investment income was US $3.68 billion, US $2.89 billion, US $2.6 billion, US $1.58 billion and US $1.267 billion respectively. In addition to the above shares, only Wells Fargo Bank had the worst performance in the second quarter, with a loss of 190 million US dollars.
From Buffetts second quarter share price performance, high-end home retailer RH performed the best, rising 153% in the second quarter, but the share accounted for less than 0.1% of the portfolio. Stne, which provides financial technology solutions, also performed well, up 77% in the second quarter. The worst performing share price is bio gene biib, which accounts for 0.11% of Buffetts portfolio. It fell 17.7% in the second quarter, and telecom company Lila and Wells Fargo Bank fell less than 3% in the second quarter.
The global stock market continues to see pinduoduo stand at the 100 billion dollar mark
In the past week, major global stock indexes have all closed higher. Brazils ibovespa index rose the most, rising 4.07% on a weekly basis, while the Nasdaq, Shenzhen composite index, Germanys DAX and Britains FTSE 100 index all rose more than 3%.
The market value of zhonggai stock rose by more than 6%, standing at $100 billion, surpassing Jingdong, becoming the fourth largest Internet company after Alibaba Tencent meituan. Bili Bili rose nearly 5%, all reaching a record high, with Alibaba down 1.28%, Jingdong down 3.54%, jinshanyun up 15.37%, and Yulai auto up 2.37%. According to the 13D document submitted by Tencent, Tencent spent $10 million in June to buy 1.68 million ads shares of Yulai auto.
Since March 16, when it hit a low, pinduoduos share price has risen continuously. As of June 19, the total increase was nearly 160%. As pinduoduo continues to soar, so does Huang Zheng, the founder of the post-80s generation. According to Forbes real-time data, Huang Zheng has become the third richest man in China. In April 2015, pinduoduo was founded and listed in the United States three years later. After two years of listing, pinduoduo has reached a market value of US $100 billion. It took Huang Zheng only five years to start from scratch and become a fortune of more than RMB 100 billion. (data treasure Wu Qi)
Source: responsible editor of Securities Times: Yang Bin_ NF4368