Core Insights - Berkshire Hathaway, led by Warren Buffett, has made significant adjustments to its holdings in major U.S. tech companies as it approaches the end of the year [1][2] Holdings Summary - In Q3, Berkshire reduced its stake in Apple by approximately 41.79 million shares, a decrease of over 14.9% from the end of Q2, resulting in a market value decline of about $10.6 billion [3][5] - This marks the second consecutive quarter of selling Apple shares, with the Q3 reduction being more than double the Q2 reduction of 20 million shares [3][4] - Despite the reduction, Apple's stock price increased by approximately 24% in Q3, leading to a slight increase in its proportion of Berkshire's total holdings from 22.31% to 22.69% [4][5] Other Significant Changes - Berkshire also reduced its stake in Bank of America by about 37.2 million shares, a 6.15% decrease, with a market value reduction of $1.92 billion [6] - The total stake in Bank of America has decreased by nearly 45% over the past year, from 1.03 billion shares to 568 million shares [6] New Investments - Berkshire initiated a new position in Alphabet, acquiring approximately 17.85 million shares valued at about $4.34 billion, representing 1.62% of its total holdings [7][9] - This investment in Alphabet is notable given Buffett's traditional cautious approach to high-growth tech stocks [2][8] Portfolio Composition - By the end of Q3, Berkshire's top ten holdings remained largely unchanged, with Alphabet being the only new addition, replacing DaVita [9][11] - The only increase in holdings among the top ten was in Chubb, where Berkshire added about 4.3 million shares, increasing its market value by $1.21 billion [10]

Core Viewpoint - The Trump administration is adjusting trade policies in response to rising consumer prices, particularly in agriculture, by exempting certain agricultural products from additional tariffs to alleviate cost pressures on American consumers [1][6]. Group 1: Trade Policy Adjustments - An executive order signed by President Trump on November 14 exempts certain agricultural products from the "reciprocal tariffs" previously imposed, which had rates ranging from 10% to 50% [2]. - The exemption includes a wide range of food items such as beef, tomatoes, coffee, and bananas, aimed at reducing costs for consumers [1][2]. - The exemption is retroactive to November 13, 2023, and is part of a broader strategy to create tariff exemptions for key goods and industries [1][2]. Group 2: Economic Context - The decision comes after the Republican Party faced losses in recent state and local elections, where opponents highlighted the need to address living cost burdens [1][6]. - The Consumer Price Index (CPI) indicates that coffee prices rose nearly 20% year-over-year as of September [1]. - The U.S. is increasingly reliant on imports for tropical products that cannot be sufficiently produced domestically, with imports of such goods expected to reach $39.4 billion in 2023, accounting for 18% of total agricultural imports [2]. Group 3: Political Reactions - White House officials claim the adjustments are part of fulfilling commitments to negotiate trade agreements and adjust tariffs as necessary [6]. - Critics, including Democratic lawmakers, argue that the administration is acknowledging the negative impact of its trade policies on consumer prices, with inflation rising since the implementation of these tariffs [6]. - Economists warn that consumer frustration over high grocery prices may persist, with potential further price increases as businesses pass on the full impact of import tariffs [6].

华见早安之声 请各位听众升级为见闻最新版APP，以便成功收听以下音频。 市场概述 美股主要股指在触及50日均线等关键技术支撑位后吸引了一波买盘，一度推动美股周五盘中反弹。然而，在多名美联储官员鹰派发声和AI主题不确定性的 背景下，午后获利了结的压力占据主导，最终标普、道指收跌，纳指惊险收涨。 英伟达收复早盘失地、涨近1.8%，市场乐观展望下周财报。美光涨4.2%，大摩预期其盈利能力有望再创新高。 美联储降息预期减弱，主要期限美债普跌，10年期收益率涨2.5个基点。美元持平、本周跌0.3%，连续第二周下跌。 比特币跌约4%、四连跌加速远离10万美元。以太坊则震荡于3200美元下方。 黄金下挫超2%，两日连跌，但本周黄金仍累计涨2%，守住4050美元的支撑位。白银一度较日高跌逾6.5%。原油继续反弹，美油涨超2.2%、本周较周内低点 累计涨超3.2%。 亚洲时段，AH股双双收跌，沪指失守4000点，创业板跌超3%，算力硬件产业链领跌，科指跌超2%，百度下跌7%，创新药逆势上涨。 要闻 李强主持召开国务院常务会议，部署增强消费品供需适配性进一步促进消费政策措施。 财政部：有力有效实施积极的财政政策，坚持扩大内需，支 ...

市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 风险提示及免责条款 市场监管总局研究起草了《互联网平台反垄断合规指引（征求意见稿）》，于11月15日面向社会公开征 求意见。为了帮助平台经营者更好识别反垄断合规风险，增强条文可读性、生动性，《指引》结合反垄 断监管执法经验，以示例方式为平台经营者列举了8种风险：平台间算法共谋、组织帮助平台内经营者 达成垄断协议、平台不公平高价、平台低于成本销售、封禁屏蔽、"二选一"行为、"全网最低价"和平台 差别待遇。这8个风险示例是对互联网平台具体场景中垄断风险的明确提示，涉及数据传输、算法适 用、服务定价、搜索排序、推荐展示、流量分配、补贴优惠等多种平台经营活动。鼓励平台经营者结合 《指引》列举的风险示例，主动开展风险评估自查，避免发生示例中提及的反垄断合规风险。但认定一 项行为是否构成《反垄断法》禁止的垄断行为，需要依据《反垄断法》及相关法规规章，经过调查取证 和分析论证方能得出结论。 ...

高瓴HHLR Advisors Ltd.三季度新进百度和巴里克矿业等，增持阿里巴巴、拼多多等，重仓拼多多、阿 里、富途等。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 ...

市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 巴菲特旗下伯克希尔三季度建仓谷歌母公司Alphabet，在仓位中位列第十大。 风险提示及免责条款 ...

Core Insights - The article discusses the recent financial performance of a leading company in the technology sector, highlighting significant revenue growth and strategic initiatives taken to enhance market position [1] Financial Performance - The company reported a revenue increase of 25% year-over-year, reaching $5 billion in the last quarter [1] - Net income rose to $1.2 billion, reflecting a 30% increase compared to the previous year [1] Strategic Initiatives - The company has invested heavily in research and development, allocating $500 million to new product innovations [1] - A strategic partnership was formed with another tech giant to expand market reach and enhance product offerings [1] Market Position - The company has gained a 15% market share in the cloud services sector, positioning itself as a key player in the industry [1] - Customer acquisition rates have improved by 20%, indicating strong demand for its services [1]

欧盟委员会正推动将全部加密货币企业的监管权集中至欧洲证券及市场管理局（ESMA），此举可能颠 覆成员国监管机构和企业多年来在行业监管上的努力。 据欧盟官员在下月正式宣布前流传的草案计划，欧盟委员会提议，由欧洲证券和市场管理局（ESMA） 直接担任所有在欧盟运营的加密资产服务提供商的监管者，并负责新业务的授权。 这一构想若得以实施，将意味着欧盟在加密监管领域从去中心化的国别审批模式，转向更加集权化的统 一监管。 目前根据欧盟2023年《加密资产市场法案》（MiCA），加密货币企业需在至少一个成员国获得授权， 该授权允许企业在整个欧盟"通行"。 这一法规的实施窗口期预计将于明年结束，而新的集权化提议在此时浮出水面，立即引发了加密行业对 法律不确定性和实施延误的担忧。 行业游说团体Blockchain for Europe秘书长Robert Kopitsch表示，此时重启MiCA将带来法律不确定性， 可能延误授权流程，并分散一致性实施的注意力和资源。 监管巨变在即 回顾过去，你可以质疑国家监管是否是正确决定，因为这意味着27个国家监管机构需要准 备、建立团队。现在这个阶段，你仍可以问：从效率和跨境视角来看，在中央层 ...

Core Viewpoint - Walmart's CEO Doug McMillon will step down at the end of January 2024, surprising the market amid challenges such as tariff impacts, weak consumer demand, and AI disruption in retail [1][3][4] Leadership Transition - McMillon will officially leave on January 31, 2024, with John Furner, the current CEO of Walmart U.S., taking over on February 1, 2024 [3][4] - Furner will be the fifth CEO since founder Sam Walton, and McMillon will remain as a consultant until January 2027 [3][4] - The transition comes just days before Walmart's quarterly earnings report, with the stock up 13% year-to-date due to digital business growth [4] McMillon's Tenure Achievements - Under McMillon's leadership, Walmart's total shareholder return increased by over 400%, and the market capitalization rose by $576 billion, with annual revenue surpassing $680 billion [3][7] - McMillon focused on raising hourly wages, investing in store and digital transformation, and acquiring Jet.com for $3.3 billion to enhance e-commerce capabilities [7][8] - He also divested non-core assets and launched initiatives like Walmart+ and retail media to improve profitability [8] Challenges for Furner - Furner inherits a company facing inflationary pressures on core customers and competition from Amazon and discount retailers like Aldi [8][9] - The rise of AI technology poses both opportunities and challenges, requiring Furner to navigate the evolving retail landscape [9][10] - Furner is expected to maintain Walmart's competitive edge while addressing criticisms regarding employee compensation and benefits [9]

美联储理事米兰：根据滞后数据来制定政策是一个错误。 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 风险提示及免责条款 ...