ตัดตอนส่วนหนึ่งมาจากบทความจาก Seeking Alpha ครับ http://seekingalpha.com/article/190312- ... en-buffett ” But Buffett wasn’t just buying Coca-Cola (KO) and Geico as many have been led to believe. Buffett was placing some (short-term AND long-term) complex bets in derivatives markets, options markets, and bond markets. The myth that Buffett is a pure value investor is just that. And it has been fed to the public hook line and sinker by people who entirely fail to understand Buffett’s genius, but benefit from an investing public that continues to pour money into the “hold and hope” myth.
Berkshire has grown into one of the most complex financial businesses in the world. The investment portfolio he has become famous for is the equivalent of just about 25% of Berkshire’s market cap. His most famous holdings (Coke, American Express (AXP) and Washington Post (WPO)) account for roughly 10% of the total market cap. Interestingly, two of Buffett’s most famous investments weren’t traditional value picks at all, but distressed plays. His original investments in American Express and Geico occurred when both companies were teetering on the edge of insolvency. These deals are more akin to what many modern day distressed debt hedge fund managers do – NOT what Bill Miller and other “value” players do.
Make no mistake – this folksy frugal regular old chum is a killer businessman. Just look at the deal he struck with Goldman Sachs (GS) and GE (GE) in 2008. He practically stepped on their throats, demanded high yielding preferreds and the results speak for themselves. Of course, the deal was described by Buffett (all smiles of course) as a long-term value play. Right. If this same move had been achieved by a distressed debt hedge fund (which is a role Berkshire often plays) reporters would have described the fund manager as a thief who was attacking two great American corporations while they were down.”
ล่าสุด Warren เข้าลงทุนใน BoA แต่ลองมาดูรายละเอียดที่คุณปู่ตกลงนะครับ
“Under the terms of the deal, Berkshire will buy $5 billion of preferred stock that pay a 6 percent annual dividend, and receive warrants for 700 million shares that it can exercise over the next 10 years. Bank of America has the option to buy back the preferred shares at any time for a 5 percent premium.”
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