【环球网财经综合报道】据《华尔街日报》消息， 在全球商业的星空中，沃伦·巴菲特无疑是一颗璀璨 的恒星。他的每一个决策都牵动着市场的神经，而关于他身后伯克希尔哈撒韦这艘巨轮的航向，更是无 数投资者关注的焦点。如今，这位95岁的投资大师正以一种独特的方式，为他的接班人铺设一条通往未 来的道路，这既是一场权力的交接，也是一次信心的传递。 一份 " 安心 " 承诺，巴菲特以持股为接班人护航 95岁的投资传奇沃伦·巴菲特，正以一种独特而有力的方式，为其庞大的商业帝国接班计划铺设基石。 在周一发布的一封致股东及子女的信中，巴菲特宣布，他将保留伯克希尔哈撒韦公司"大量"A类股票， 直至投资者对其选定的接班人、首席执行官格雷格·艾贝尔建立起充分的信心。这一承诺如同一道"安心 锁"，旨在稳定市场情绪，确保公司权力的平稳过渡。 "这种信心不应该需要很长时间，"巴菲特在信中写道，并强调"我的孩子们已经100%支持格雷格了，伯 克希尔的董事们也是如此。"他毫不吝啬对艾贝尔的赞美，称其为"一个伟大的管理者，工作不知疲倦， 沟通诚实"，并表达了对他能长期任职的期望。 此举的背景是，自今年5月巴菲特意外宣布艾贝尔将于年底接任CEO（而自己 ...

AI播客：换个方式听新闻 下载mp3 过去一周，伯克希尔哈撒韦的股价上涨超过4%，表现优于大盘。投资者们正翘首以盼"股神"巴菲特将 于当地时间周一发布的公开信——这是他自5月份宣布将于年底卸任CEO以来的首次公开表态。 95岁的巴菲特上周四晚间在一份新闻稿中表示，他计划在这封信中讨论"慈善事业、伯克希尔哈撒韦公 司以及其他伯克希尔股东和其他人可能感兴趣的事项"。 这封信被视为这位95岁投资巨擘的告别辞，在执掌这家当初濒临倒闭的新英格兰服装公司的六十多年 后，他将正式谢幕。资深伯克希尔高管格雷格·阿贝尔将接替他的位置，巴菲特将继续担任董事长。 音频由扣子空间生成 在即将发布的信函中，巴菲特可能会重申他对伯克希尔在阿贝尔领导下前景的信心。他可能会重点强调 公司的优势，包括超过3000亿美元的现金储备、税后年盈利近500亿美元的多元化盈利基础，以及公司 独特的企业文化——高度诚信、责任担当，管理层与约300万股东的利益高度一致。 在2023年的信中，他谈到了伯克希尔的未来。"任何类型的大型机构，无论是政府机构、慈善机构还是 营利性机构，都可能出现衰败，"他说道。"但这并非不可避免。伯克希尔的优势在于，它的建立旨在长 ...

"股神"沃伦·巴菲特的伯克希尔·哈撒韦CEO任期进入最后两个月倒计时，其卸任CEO之前的最后一份财务报告发布。虽然公司业绩表现平稳，但公司股价 则持续跑输大盘。 交班节点临近，没有巴菲特掌舵的伯克希尔，还值得买吗？ 01 伯克希尔新纪录 当地时间11月1日，巴菲特旗下公司伯克希尔·哈撒韦披露第三季度业绩。 公告显示， 伯克希尔公司第三季度的营收为949.72亿美元，同比增长2.13%；归属股东净利润为307.96亿美元，同比增长17%；三季度运营利润达134.9亿 美元，同比大增34%，远超去年同期的100.9亿美元。 △沃伦·巴菲 特。（图片由CNSPHOTO提供） 截至9月30日， 现金储备为3816.7亿美元（约合27165亿元人民币），再创纪录。 分业务来看，伯克希尔三季度运营利润的大幅增长主要由保险承保业务推动。公司保险承保收益飙升200%以上，达到23.7亿美元；保险承保业务收入为 31.8亿美元，同比下降13%；公司铁路业务净利润同比增长4.7%至14.49亿美元；能源业务运营利润为14.89亿美元，同比下降8.6%；制造、服务和零售业 务贡献36.2亿美元经营利润，成为最大单一业务板块。 在投 ...

Core Viewpoint - Berkshire Hathaway's third-quarter financial results show significant growth in operating profit and cash reserves, while the company adopts a cautious investment strategy amid market uncertainties and leadership transition concerns [4][5][6]. Financial Performance - In Q3, Berkshire Hathaway reported revenue of $94.972 billion, up from $92.995 billion year-on-year, exceeding market expectations of $91.55 billion [5]. - Operating profit surged by 34% to $13.485 billion, while net profit increased by 17% to $30.796 billion, also surpassing market forecasts [5]. - Cash reserves reached a record high of $381.67 billion, with the company not engaging in stock buybacks for nine consecutive months [4][5]. Investment Strategy - The company has continued to net sell stocks, recording $10.4 billion in taxable gains, indicating a cautious approach to finding investment opportunities in the current market environment [6]. - The significant increase in operating profit is attributed to a more than 200% rise in insurance underwriting profits, reaching $2.37 billion, reflecting a recovery in core business segments [6]. Leadership Transition - Warren Buffett will no longer write the annual letter to shareholders, passing this responsibility to his successor, Greg Abel, which raises concerns about the company's future performance and stock price [8][12]. - Buffett plans to step down as CEO by the end of 2025, while retaining the chairman position, marking a significant leadership change after over sixty years [8][12]. Analyst Ratings - Berkshire Hathaway recently received a rare "sell" rating from Keefe, Bruyette & Woods, downgrading its status from "market perform" to "underperform" due to various unfavorable factors [9][10]. - Analysts express concerns over macroeconomic uncertainties and the unique succession risks associated with the company, predicting that stock performance may lag behind the market [11][12].

Core Viewpoint - Berkshire Hathaway's latest financial report is the last one before Warren Buffett steps down as CEO, showing stable performance but underperforming compared to the market [1] Financial Performance - In Q3, Berkshire Hathaway reported revenue of $94.972 billion, a year-on-year increase of 2.13% [2] - Net profit attributable to shareholders was $30.796 billion, up 17% year-on-year [2] - Operating profit reached $13.49 billion, a significant increase of 34% compared to $10.09 billion in the same period last year [2] - As of September 30, the fair value of equity securities investments was $283.241 billion, with the top five holdings (American Express, Apple, Bank of America, Coca-Cola, Chevron) accounting for 66% of the total fair value [2] - The company announced a major acquisition plan to purchase Occidental Petroleum's chemical business for $9.7 billion in cash, expected to be completed by Q4 2025 [2] Stock Performance - Since Buffett announced his resignation as CEO in May, Berkshire's stock has underperformed the market, dropping 11% from a historical high of $812,855 [3] - In contrast, the S&P 500 index has risen by 21% during the same period [3] - Analyst Meyer Shields downgraded Berkshire's A-class stock rating from "in line with the market" to "underperform," citing various factors moving in the wrong direction [3][4] Analyst Insights - Shields lowered the target price for Berkshire's A-class stock from $740,000 to $700,000, highlighting unique challenges related to Buffett's successor and weak performance in key business areas [4] - Concerns about the uncertainty surrounding the new leadership and insufficient disclosure from the company are impacting investor sentiment [4] - The so-called "Buffett premium," which reflects the additional valuation investors have assigned to Berkshire due to Buffett's leadership, appears to be diminishing [4]

Core Insights - Berkshire Hathaway, led by Warren Buffett, released its latest financial report before his resignation as CEO, showing stable performance but underperforming compared to the market [1] Financial Performance - In Q3, Berkshire Hathaway reported revenue of $94.972 billion, a year-on-year increase of 2.13% - Net profit attributable to shareholders was $30.796 billion, up 17% year-on-year - Operating profit reached $13.49 billion, a significant increase of 34% compared to $10.09 billion in the same period last year [2] Investment Portfolio - As of September 30, the fair value of the company's equity securities investments was $283.241 billion - The top five holdings, which account for 66% of the total fair value of equity securities, include American Express, Apple, Bank of America, Coca-Cola, and Chevron - The company announced a major acquisition plan to purchase Occidental Petroleum's chemical business for $9.7 billion in cash, expected to be completed by Q4 2025 [2] Stock Performance - Since Buffett announced his resignation in May, Berkshire's stock has underperformed the market, dropping 11% from a historical high of $812,855 [3] - In contrast, the S&P 500 index has risen by 21% during the same period [3] Analyst Ratings - Analyst Meyer Shields downgraded Berkshire Hathaway's A-class stock rating from "in line with the market" to "underperform," citing various factors moving in the wrong direction [3][4] - The target price for Berkshire's A-class stock was lowered from $740,000 to $700,000, with concerns about the uncertainty surrounding Buffett's successor and weak performance in key business areas [4] Leadership Transition - Greg Abel, Vice Chairman of Non-Insurance Operations, will succeed Buffett as CEO, while Buffett will remain as Chairman of the Board [4]

保险承保利润飙升超200%至23.7亿美元，成为主要增长引擎。现金储备创历史新高达3817亿美元，但公司连续九 个月零回购，并持续净卖出股票104亿美元，凸显巴菲特投资谨慎态度。 巴菲特旗下的伯克希尔哈撒韦三季度运营利润强劲反弹，现金储备升至历史新高，但这家投资巨头连续九个月未 进行股票回购，凸显出在当前市场环境下寻找投资机会的谨慎态度。 核心要点： Q3运营利润达134.9亿美元，同比大增34%，远超去年同期的100.9亿美元；净利润308亿美元，同比增长17%； 保险业务承保利润23.7亿美元，投资收益31.8亿美元，保险浮存金稳定在1760亿美元； 制造、服务和零售业务贡献36.2亿美元经营利润，成为最大单一业务板块； 现金储备创历史新高，达到3817亿美元。 | | | | Third Quarter | | | First Nine Months | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2025 | | 2024 | 2025 | | 2024 | | Revenues: | | | | | | | | | Insura ...

Core Viewpoint - The transition of leadership at Berkshire Hathaway is accelerating, with Warren Buffett passing responsibilities to his successor, Greg Abel, amid a cautious investment strategy in the current market environment [2][4][5]. Financial Performance - In Q3 2025, Berkshire Hathaway reported revenue of $94.972 billion, up from $92.995 billion year-on-year, exceeding market expectations of $91.55 billion [3]. - The operating profit surged by 34% to $13.485 billion, while net profit increased by 17% to $30.796 billion, also surpassing market forecasts [3]. - Cash reserves reached a record high of $381.67 billion, with the company not engaging in stock buybacks for nine consecutive months [2][3]. Investment Strategy - Berkshire Hathaway's cautious approach is highlighted by its decision to net sell stocks, recording $10.4 billion in taxable gains, continuing a trend of reducing stock holdings [3][4]. - The significant increase in operating profit is primarily attributed to a more than 200% rise in insurance underwriting profits, reaching $2.37 billion, indicating a recovery in core business segments [4]. Leadership Transition - Warren Buffett will no longer write the highly anticipated annual letter to shareholders, a responsibility now assigned to Greg Abel [2][5]. - Buffett plans to step down as CEO by the end of 2025, while retaining the position of chairman [5][7]. Market Sentiment - Berkshire Hathaway recently received a rare "sell" rating from Keefe, Bruyette & Woods, downgrading its status from "market perform" to "underperform" [6][7]. - Analysts express concerns about macroeconomic uncertainties and the unique succession risks associated with the company, predicting that stock performance may lag behind the market [7][8]. - As of October 31, 2025, Berkshire B shares have only risen 5.35% year-to-date, compared to a 16.3% increase in the S&P 500 index, reflecting a potential decline in the "Buffett premium" [7][8].

Core Insights - Berkshire Hathaway, led by Warren Buffett, released its latest financial report before his resignation as CEO, showing stable performance but underperforming compared to the market [1] Financial Performance - In Q3, Berkshire Hathaway reported revenue of $94.972 billion, a year-over-year increase of 2.13% [2] - Net profit attributable to shareholders was $30.796 billion, up 17% year-over-year [2] - Operating profit reached $13.49 billion, a significant increase of 34% compared to $10.09 billion in the same period last year [2] - As of September 30, the fair value of the company's equity securities investments was $283.241 billion, with the top five holdings (American Express, Apple, Bank of America, Coca-Cola, Chevron) accounting for 66% of the total fair value [2] - The company announced a major acquisition plan to purchase Occidental Petroleum's chemical business for $9.7 billion in cash, expected to be completed by Q4 2025 [2] Stock Performance - Despite stable financial results, Berkshire Hathaway's stock has underperformed since Buffett announced his resignation as CEO in May, with a decline of 11% from a historical high of $812,855 [3] - In contrast, the S&P 500 index has increased by 21% during the same period [3] - Analyst Meyer Shields downgraded Berkshire Hathaway's A-class stock rating from "in line with the market" to "underperform," citing several factors moving in the wrong direction [3][4] Analyst Insights - Shields also lowered the target price for Berkshire Hathaway's A-class stock from $740,000 to $700,000, highlighting unique challenges related to the successor of Buffett and weak performance in key business areas [4] - Concerns about the uncertainty surrounding Buffett's successor are seen as a major factor affecting investor sentiment, with the so-called "Buffett premium" appearing to diminish [4] - The company faces operational pressures across its diversified portfolio, including insurance, railroads, and energy sectors [4]

"股神"巴菲特旗下伯克希尔·哈撒韦（BRK_A.N）公司周六公布最新一份财报。这是该公司在巴菲特卸任CEO之前发布的最后一份财务报告。虽然公司业 绩表现平稳，但公司股价则持续跑输大盘。 财报数据亮眼 财报显示，伯克希尔公司第三季度的营收为949.72亿美元，同比增长2.13%；归属股东净利润为307.96亿美元，同比增长17%；三季度运营利润达134.9亿美元，同比 大增34%，远超去年同期的100.9亿美元。 在投资领域，截至9月30日，公司权益证券投资公允价值达2832.41 亿美元。持仓方面，前五大持股为美国运通、苹果、美国银行、可口可乐、雪佛龙，占权益证券 总公允价值的66%。此外，公司持有西方石油普通股、优先股及认股权证。 同时，公司宣布一项重大收购计划，拟以97亿美元现金收购西方石油旗下化工业务（Oxy Chem），预计2025年四季度完成交易。此次收购将进一步拓展公司在化工 领域的布局，丰富业务结构，为长期增长注入新动力。 伯克希尔股价跑输大盘 虽然伯克希尔公司业绩仍然表现平稳。但自从今年5月，巴菲特宣布辞任公司CEO以来，公司股价持续跑输大盘。数据显示，今年5月，公司股价创下812855美元的 ...