于是，伯克希尔的2025年业绩，很可能成为股神;亲自主持下的最后一年业绩。 在年度股东大会召开前夕，伯克希尔公布了2025年第1季业绩，对比于巴菲特的金句，这份业绩所体现 的投资结果;，或更能体现股神;的投资理念和风格。 投资本钱还有利息可收 今年五月初投资界的头等盛事莫过于在奥马哈举行的伯克希尔（BRK.B.US）年度股东大会，这次与别 不同的是，巴菲特在股东大会临近结束时宣布将于2026年1月1日退休，而63岁的副董事长格雷格·阿贝 尔（Greg Abel）将为其接班人，但巴菲特仍担任伯克希尔董事长一职。 从并表的主营业务来看，伯克希尔旗下的子公司经营稳定，第1季并表收入为897.25亿美元，按年微跌 0.16%；主营业务的税前利润为114.57亿美元，按年下降14.10%；但真正令其业绩与上年同期拉开距离 的是投资亏损64.35亿美元，相较上年同期为投资收益18.76亿美元，差距达83亿美元。 不过需要注意的是，这笔投资亏损主要来自未出售投资，只是因为期内股价出现波动而暂时亏损而已， 这也是巴菲特多次强调短期投资损益只是会计处理需要，并不能作为投资业绩准绳的原因。当股价回 升，未来的投资收益可能显著上升 ...

①巴菲特：美股波动不值一提，希望持有日本五大商社至少50年；②OPEC+增产引发油价大跌，市场 担忧供应过剩；③苹果预计本季度将因关税损失约9亿美元，明秋或出折叠屏iPhone。 ③苹果预计本季度将因关税损失约9亿美元 明秋或出折叠屏iPhone 苹果公司5月2日早晨盘后公布的财报显示，一季度总净营收为953.59亿美元，净利润为247.80亿美元， 均同比增长5%；但大中华区营收为160.02亿美元，同比下降2%。尽管营收和利润均超出华尔街预期， 但服务业务收入未能达到分析师预期，且公司CEO库克表示，公司预计本季度将因美国关税政策损失约 9亿美元。此外有消息称，苹果计划在今年晚些时候推出一款5.5毫米超薄的新款iPhone；首款折叠屏 iPhone将于明年秋季亮相，采用书本式折叠设计，展开后达8英寸；iPhone 18标准版推迟至2027年春 季，Pro系列将搭载屏下Face ID。 ①巴菲特：美股波动不值一提 希望持有日本五大商社至少50年 在5月3日晚间的伯克希尔哈撒韦股东大会上，巴菲特表示，美股近期巨震与历史上的大崩盘相比，根本 不算什么。假设伯克希尔的股价暴跌30%，会是非常好的机会。他表示不在意 ...

分析指出，美国4月服务业增长加快，因订单增加，推动企业原材料和服务价格指数升至逾两年最高水 平，暗示关税导致通胀压力加大。企业和家庭赶在进口关税生效之前购买商品的举措，可能是上月服务 业PMI上升的部分原因。整体指数表明，在美国制造业受关税影响持续收缩的背景下，服务业仍表现稳 健。 本文源自：金融界 热门中概股涨跌不一，纳斯达克中国金龙指数微跌0.04%。阿里巴巴上涨0.64%，京东下跌1.19%，拼多 多下跌0.06%，蔚来汽车下跌1.24%，小鹏汽车上涨0.91%，理想汽车上涨0.84%，哔哩哔哩上涨0.83%， 百度上涨0.33%，网易上涨0.68%，腾讯音乐下跌0.77%。 商品市场方面，COMEX黄金期货上涨3.04%，报3，342美元/盎司；COMEX白银期货上涨1.15%，报 32.63美元/盎司。国际原油期货结算价收跌近2%，WTI原油期货6月合约下跌1.99%，报57.13美元/桶； 布伦特7月原油期货下跌1.73%，报60.23美元/桶。 美国供应管理协会（ISM）公布的数据显示，4月服务业活动在上月下滑后重新加速，关税上升导致原 料价格上涨。美国4月ISM服务业PMI指数录得51.6，重 ...

Financial Performance - Net earnings attributable to Berkshire shareholders for Q1 2025 were $4,603 million, a decrease of 63.7% compared to $12,702 million in Q1 2024[160] - Operating earnings for Q1 2025 were $9,641 million, down 13.9% from $11,222 million in Q1 2024[310] - Investment losses in Q1 2025 amounted to $5,038 million, compared to investment gains of $1,480 million in Q1 2024[310] - Net investment income increased by $295 million (11.4%) to $2,893 million in Q1 2025 compared to $2,598 million in Q1 2024[195] - Net earnings increased by $52 million (13.8%) in Q1 2025 compared to Q1 2024, driven by higher electric utility margin and tax benefits from wind production credits[215] Insurance Operations - Insurance underwriting after-tax earnings decreased by $1.3 billion in Q1 2025, with losses from Southern California wildfires amounting to approximately $860 million[162] - Insurance-underwriting income for Q1 2025 was $1,336 million, down 48.6% from $2,598 million in Q1 2024[315] - Losses and loss adjustment expenses for GEICO increased by $10 million (0.1%) in Q1 2025, with a loss ratio of 69.0%, a decrease of 3.5 percentage points from 2024[174] - Losses and loss adjustment expenses for Berkshire Hathaway Primary Group increased by $640 million (22.8%) in Q1 2025, with losses from Southern California wildfires estimated at approximately $300 million[180] - Losses and loss adjustment expenses for the Berkshire Hathaway Reinsurance Group increased by $606 million (20.2%) in Q1 2025, with losses from Southern California wildfires estimated at approximately $770 million[185] Energy Sector - After-tax earnings from Berkshire Hathaway Energy (BHE) rose by $380 million (53.0%) in Q1 2025, reflecting higher earnings from utilities and energy businesses[163] - BHE's total revenue increased to $6,356 million in Q1 2025, compared to $6,277 million in Q1 2024[211] - Net earnings attributable to BHE increased by 39.4% to $1,100 million in Q1 2025 from $789 million in Q1 2024[213] - Energy operating revenue for BHE rose to $5,506 million in Q1 2025, up from $5,245 million in Q1 2024[211] - Electric utility margin reached $1.9 billion in Q1 2025, an increase of $225 million (13.2%) from 2024, attributed to higher retail customer rates and volumes[216] Transportation Sector - After-tax earnings from BNSF increased by 6.2% in Q1 2025 compared to 2024, driven by higher volumes and improved operating efficiencies[163] - Railroad operating revenues for BNSF increased to $5,676 million in Q1 2025, up from $5,644 million in Q1 2024, driven by a 4.1% increase in unit volume[202] - BNSF's pre-tax earnings rose by 5.5% to $1,603 million in Q1 2025 from $1,519 million in Q1 2024[202] Manufacturing and Retail - Manufacturing revenues totaled $18.8 billion in Q1 2025, a slight increase of 1.3% from Q1 2024, while service and retailing revenues decreased by 5.6%[222] - Pre-tax earnings in manufacturing declined by $198 million (6.8%) in Q1 2025 compared to 2024, while service and retailing pre-tax earnings increased by $147 million (12.9%)[222] - Revenues from Clayton Homes increased by 7.4% to $2.9 billion in Q1 2025, with financial services revenues rising by 14.7%[235] - Consumer products group revenues declined by 0.4% to $3.5 billion in Q1 2025, with pre-tax earnings dropping by $105 million (29.6%) compared to 2024[240] - Retailing group revenues increased by 2.0% in Q1 2025, with BHA revenues up by 5.3% and home furnishings down by 1.4%[250] Investment and Shareholder Equity - Berkshire's shareholders' equity was $654.5 billion as of March 31, 2025, an increase of $5.1 billion since December 31, 2024[265] - The company has not repurchased any Class A or Class B shares in the first quarter of 2025, maintaining a cash reserve of at least $30 billion[288] - Average equivalent Class A shares outstanding decreased slightly to 1,438,223 in Q1 2025 from 1,439,370 in Q1 2024[311] - Average equivalent Class B shares outstanding also decreased to 2,157,335,139 in Q1 2025 from 2,159,055,134 in Q1 2024[311] Legal and Regulatory Matters - The company is involved in various legal actions, but it does not expect these to materially affect its financial condition or results of operations[285] - There were no material changes in market risks as of March 31, 2025, compared to the previous annual report[283] - The company concluded that it was more likely than not that goodwill and other indefinite-lived intangible assets were not impaired as of March 31, 2025[279] Miscellaneous - The company anticipates that future payments under insurance and reinsurance contracts will be funded by operating cash flows[273] - The total number of reportable Mine Safety Act citations for the first quarter of 2025 was not specified, but no significant violations were reported[303] - Forward-looking statements regarding future financial performance are subject to risks and uncertainties, and actual results may differ materially[282]

Financial Data and Key Metrics Changes - The company reported record attendance at its annual meeting, with 19,700 participants, up from 16,200 the previous year [2] - The company achieved record sales figures, with Candid at $317,000 compared to $283,000 the previous year [3] Business Line Data and Key Metrics Changes - Brooks reported sales of $310,000, marking an all-time record for the company [4] - Jazz Wear's sales doubled to around $250,000 compared to the previous year [4] Market Data and Key Metrics Changes - The company noted a significant increase in attendance and sales across all business lines, indicating strong market demand [5] Company Strategy and Development Direction - The management emphasized the importance of maintaining a diverse and capable board, with a focus on long-term relationships and investments, particularly in Japan [38][46] - The company is positioning itself for future opportunities, with a significant cash reserve of over $300 billion, representing about 27% of total assets, which is historically high [51] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the U.S. economy, despite current challenges, and highlighted the importance of adapting to changes while maintaining a long-term perspective [95][99] - The company is prepared for future investment opportunities, emphasizing that attractive deals will arise over time [60][61] Other Important Information - The company raised significant funds for charity through the sale of a commemorative book, showcasing its commitment to social responsibility [20][23] Q&A Session All Questions and Answers Question: Has your view on trade barriers changed? - Management discussed the historical context of trade barriers and emphasized the importance of balanced trade for global prosperity [26][30] Question: Do you think the Bank of Japan's rate hike will deter further investments in Japan? - Management expressed confidence in their Japanese investments and indicated a long-term commitment to holding these positions [36][38] Question: Is the high cash reserve a derisking strategy or for future capital allocation? - Management clarified that the cash reserve is not solely for Greg Abel's future flexibility but is a strategic position to capitalize on attractive investment opportunities as they arise [51][52] Question: With high interest rates, do you still believe in being greedy when others are fearful? - Management reiterated the advantages of investing in stocks over real estate due to the ease of transactions and opportunities in the stock market [64][66] Question: How will AI affect the insurance industry? - Management acknowledged AI as a game changer but emphasized a cautious approach to its integration into their operations [75][78] Question: How did the acquisition of Portillo's Hotdogs fit into the portfolio? - Management was not directly involved in the acquisition and noted that it was owned by a private equity firm, not Berkshire [80][92]

Berkshire Hathaway's (BRK.A 1.25%) (BRK.B 1.35%) portfolio has changed significantly over the past year, even though billionaire investor and company CEO Warren Buffett hasn't exactly been loading the company's portfolio with stocks. Investors have been taking note of Buffett's seemingly conservative investment strategy and what it might mean. Here are some of the most notable changes in Berkshire's portfolio this past year, and what, if anything, investors should read into these moves. Apple's presence in ...

0. Cur @ JIN10.COM JIN10.COM 金十数据 | 一个交易工具 gan - coMerce of the come com | 排名 | 名字 | 身价(美元) | 身价变化 | 公司 | | --- | --- | --- | --- | --- | | | 埃隆·马斯克 | 3688亿 | ↑ 72亿 1.99% | | | 2 | 杰夫·贝佐斯 | 1981亿 | 1 67亿 3.53% | 亚马逊 | | | 马克·扎克伯格 | 1802亿 | 1 68亿 3.94% | Meta | | 4 | 拉里·埃里森 | 1656亿 | ↑ 50亿 3.11% | 甲骨文 | | 5 | 沃伦·巴菲特 | 0 1639亿 | ↑ 18亿 1.12% | 伯克希尔哈撒韦 | | 6 | 贝尔纳·阿尔诺家族 | 1490亿 | ↑ 16亿 1.11% | LVMH | | 7 | 拉里·佩奇 | 1301亿 | 1 30亿 2.35% | 谷歌 | | 8 | 阿曼西奥·奥尔特加 10.0 | 1268亿 | ↑ 19亿 1.51% | Inditex | | 9 | 谢尔盖·布林 | 1 ...

金十图示：2025年04月23日（周三）全球富豪榜 - com | 排名 | 名字 | 身价(美元) | 身价变化 | 公司 | | --- | --- | --- | --- | --- | | | 埃隆·马斯克 | 3616亿 | 1 59亿 1.66% | | | 2 | 杰夫·贝佐斯 | 1914亿 | 1 53亿 2.86% | 亚马逊 | | | 马克·扎克伯格 | 1734亿 | 1 53亿 3.18% | Meta | | 4 | 沃伦·巴菲特 | 1621亿 | 1 40亿 2.55% | 伯克希尔哈撒韦 | | 5 | 拉里·埃里森 | - 0 1606亿 | 1 52亿 3.33% | 甲骨文 | | 6 | 贝尔纳·阿尔诺家族 | 1476亿 | ↑ 5.28亿 0.36% | LVMH | | 7 | 拉里·佩奇 | 1272亿 | 1 30亿 2.45% | 谷歌 | | 8 | 阿曼西奥·奥尔特加 10. | 1251亿 | ↑ 14亿 1.1% | Inditex | | 9 | 谢尔盖·布林 | 1220亿 | 1 28亿 2.39% | 谷歌 | | 10 | Rob Wa ...

| 排名 | 名字 | 身价(美元) | 身价变化 | 公司 | | --- | --- | --- | --- | --- | | | 埃隆·马斯克 | 3557亿 | + -78亿 -2.15% | | | 2 | 杰夫·贝佐斯 | 1861亿 | + -48亿 -2.52% | 亚马斯 | | | 马克·扎克伯格 | 1680亿 | + -57亿 -3.31% | Meta | | 4 | 沃伦·巴菲特 | 1581亿 | + -38亿 -2.34% | 伯克希尔哈撒韦 | | 5 | 拉里·埃里森 | - 1554亿 | + -68亿 -4.2% | 甲骨文 | | 6 | 贝尔纳·阿尔诺家族 | 1452亿 | + -940万 -0.01% | LVMH | | 7 | 拉里·佩奇 | 1241亿 | + - 27亿 - 2.14% | 谷歌 | | 8 | 阿曼西奥·奥尔特加 | 10.6 1221亿 | 0 0% | Inditex | | 9 | 谢尔盖·布林 | 1191亿 | + - 25亿 - 2.09% | 谷歌 | | 10 | Rob Walton & family | 1108亿 ...

财料 全球股市惊魂一周，谁的损失最惨重？ | | 市值变化(亿$) | 涨跌幅 | | --- | --- | --- | | 01 英伟达 | -3052 | -11.4% | | 02 台积电 | -1165 | -13.3% | | 03 博通 | -676 | -8.5% | | 04 AMD | -310 | -18.6% | | 05 高通 | -258 | -15.2% | 市值缩水最多的5家电商 联企业:甲骨 贝佐斯-$170亿 生要关联企业:亚马逊 巴菲特 -$130亿 比尔盖茨 -$130z 主要关联企业:伯克希尔哈撒韦 主要关联企业:微软 迈克尔 ·戴尔 ·$113 · 黄仁勋-$1090 主要关联企业:英伟达 主要关联企业:戴尔 市值缩水量多的5家半导体企业 | | 市值变化(亿$) | | 涨跌幅 | | --- | --- | --- | --- | | 01 亚马逊 | | -1792 | -8.8% | | 02 阿里巴巴-W | | -678 | -22.0% | | 03 拼多多 | | -308 | -18.2% | | 04 美团-W | | -184 | -14.9% ...