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2021-05-24
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These 3 Stocks Are Screaming Buys Amid the Tech Selloff
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2021-05-22
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Here Are the 3 Bank Moves Warren Buffett Has Made So Far in 2021
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2021-05-17
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18:00","market":"us","language":"en","title":"These 3 Stocks Are Screaming Buys Amid the Tech Selloff","url":"https://stock-news.laohu8.com/highlight/detail?id=2137797184","media":"Motley Fool","summary":"Take advantage of other investors' fears and go shopping when stocks go on sale.","content":"<p>After an epic rise in 2020, tech stocks have hit a rough patch to kick off 2021. Some companies are running into slowdowns in their growth trajectories, as they start to lap the bump in business they got a year ago when the pandemic started.</p><p>That doesn't mean all of these businesses are spent, though. Far from it: Many have incredibly bright outlooks and are screaming buys after getting caught up in the recent sell-off. Right now, three Fool.com contributors think <b>Wix.com</b> (NASDAQ:WIX), <b>Roku</b> (NASDAQ:ROKU), and <b>Naspers</b> (OTC:NPSNY) are worth a look.</p><h3>Building modern websites for small businesses</h3><p><b>Nicholas Rossolillo (Wix.com):</b> Wix turned in a fantastic start to 2021, but many investors chose to focus on the company's decision to stop disclosing specific user and premium subscriber counts (the service reached 200 million registered users worldwide in February, and nearly 5.5 million premium subscribers at the end of 2020). Sometimes a company will stop divulging metrics that no longer paint a favorable picture, but I don't think that's what's going on here. Wix already boasts a massive following, but user-count growth, and more importantly, user activity on Wix services, are already implied by the company's revenue trajectory.</p><p>And on that front, Wix did exceptionally well in the first quarter of 2021. Revenue increased 41% year over year to $304 million, and management said to expect full-year revenue growth of 29% to 30%, to at least $1.28 billion -- building on top of the 30% gain in sales it notched in 2020. Free cash flow (FCF) is anticipated to be just $62 million to $72 million as the company spends to expand its reach in global e-commerce, an FCF profit margin of about 5%. However, Wix was generating FCF margin of nearly 20% last year, pretty good for a high-growth tech company. Eventually, I expect Wix will return to those profitability levels, and when it does, it will be a much larger business than it was before.</p><p>For now, though, Wix is focusing on the tens of millions of small- and midsize-business relationships it has around the world. Recent product launches -- like Editor X for advertising agencies, and Wix integration with <b>Alphabet</b>'s Google, so businesses can manage their web search presence -- will help it deepen those relationships; so will the acquisition of gift-card and store-credit tech outfit Rise.ai. In fact, Wix's aim is to build out easy-to-use e-commerce capabilities to help small businesses -- from local restaurants to event centers to fitness instructors -- have a quality online presence. CEO Avishai Abrahami said on the Q1 earnings call that the goal is to have <i>half of all new web content</i> created on Wix within the next five to seven years.</p><p>The company is already well on its way toward accomplishing its mission. I think Wix stock is a compelling value, after getting sold off because of myopic views on elimination of user-count metrics. Shares trade for under 11 times full-year revenue expectations, the cheapest they've been since the start of the pandemic, even though the company's growth trajectory hasn't lost any steam. I, for <a href=\"https://laohu8.com/S/AONE\">one</a>, am a buyer at these levels.</p><h3>A surefire winner in the media-streaming wars</h3><p><b>Anders Bylund (Roku):</b> Media-streaming technology expert <b>Roku</b> (NASDAQ:ROKU) skyrocketed 148% higher in 2020 but has struggled to maintain that momentum in 2021. These days, the stock is trading more than 30% below January's all-time highs.</p><p>The thing is, Roku's long-term growth story really hasn't changed. The shifting investor attitude is based on broader market trends, not on any flaws in Roku's business plan.</p><p>This company is crushing analyst targets with astonishing consistency. Roku has delivered positive earnings in the last three quarterly reports, when the Street was expecting negative bottom-line results in every case. Revenue exceeded analyst estimates by an average of 15% over the same period, including a 17% outperformance in the recent first-quarter update.</p><p>Roku is often lumped together with other stocks that rose sharply during the 2020 coronavirus lockdowns. The basic assumption is that Roku's business prospects surely will fade once the health crisis is over, setting the stock up for a massive price drop.</p><p>That's a big mistake. Roku's value as a long-term investment may have seen a modest boost from the pandemic, but the media-streaming market started to boom before COVID-19 came along and will continue to disrupt the global media market for many years to come.</p><p>\"Streaming services are taking advantage of the tools Roku offers to help build audience and make their streaming business successful,\" Roku founder and CEO Anthony Wood said in the first-quarter earnings call. \"We believe the inevitability of streaming is clear and that Roku's business model allows us to optimize streaming for all stakeholders, including viewers, advertisers, and content partners.\"</p><p>In other words, Roku stands to win as media-streaming services supplant cable TV and movie theaters around the world, and it really doesn't matter exactly which streaming services come out on top. All of them depend more and more on Roku's technology platforms and ad-buying services.</p><p>And now I can buy this big winner at a 30% discount. Where do I sign up?</p><h3>A premier large cap at half-price, with a near-term catalyst on the horizon</h3><p><b>Billy Duberstein (Naspers):</b> Chinese internet giant <b>Tencent Holdings</b> (OTC:TCEHY) is down a little more than 20% from its February highs, which is not quite as bad as many software stocks, but still much worse than the FAANG stocks here in the U.S.</p><p>But the really big bargain isn't in Tencent itself: It's in its largest shareholder, Naspers, which owns almost 29% of the Chinese giant through its majority stake in <b>Prosus</b> (OTC:PROSY). Both stocks are down by a similar amount. For those unfamiliar with the company, Naspers invested $32 million for <a href=\"https://laohu8.com/S/AONE.U\">one</a>-third of Tencent in 2001. Flash forward to today, and that stake is now worth nearly <i>a quarter of a trillion dollars</i>.</p><p>The problem? Naspers began trading at a huge discount to the value of Tencent alone, never mind its billions in other emerging-market companies across classifieds, fintech, and food delivery. Naspers attributed the growing discount to its being listed on the Johannesburg Stock Exchange (JSE), so in 2019, Naspers created Prosus. That company housed basically all of its investments outside South Africa (including Tencent), and listed itself on the larger Euronext exchange in Amsterdam, selling about 27% of Prosus to the public. But that didn't really work either: Prosus then began selling at a similar discount...and Naspers traded at a discount even to the value of its stake in Prosus.</p><p>So why is Naspers an especially compelling value today? Because Naspers and Prosus have taken three recent actions that could close the discount later this year. First, Prosus announced a $5 billion share repurchase program back in October, divided between both Prosus and Naspers shares, and Naspers just disclosed Prosus had already bought back 3% of shares outstanding in about six months. Repurchasing shares at a massive discount to intrinsic value adds long-term values for shareholders.</p><p>Second, Prosus cashed in about 2% of Tencent in early April, at prices higher than Tencent trades for today, lowering its stake from 31% to roughly 29%. That sale brought in $14.6 billion. Now flush with cash, Prosus can use the windfall to grow its non-Tencent business, and/or continue repurchasing shares.</p><p>Finally, following the partial sale of the Tencent stake, Naspers and Prosus just announced a share swap plan, in which Prosus would swap its less-discounted shares for the more-discounted Naspers shares, with the aim of acquiring 49.5% of Naspers. The thinking is that it would lower Naspers' 23% weighting on the JSE, giving it more \"room\" to grow toward fair value. Meanwhile, Prosus will have a bigger free float, and would therefore get higher weightings in European indexes and exchange-traded funds, which could theoretically close the discount to Tencent. In addition, the company announced the potential for another $5 billion buyback of Prosus shares after the transaction.</p><p>Between the ongoing repurchases, and the potential catalyst of the upcoming share swap (which should occur in the third quarter), investors can get a nice double discount today -- with another potential catalyst on the horizon, after the Tencent/Prosus/Naspers sell-off.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These 3 Stocks Are Screaming Buys Amid the Tech Selloff</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese 3 Stocks Are Screaming Buys Amid the Tech Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-24 18:00 GMT+8 <a href=https://www.fool.com/investing/2021/05/23/these-3-stocks-are-screaming-buys-amid-the-tech-se/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After an epic rise in 2020, tech stocks have hit a rough patch to kick off 2021. Some companies are running into slowdowns in their growth trajectories, as they start to lap the bump in business they ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/23/these-3-stocks-are-screaming-buys-amid-the-tech-se/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NPSNY":"Naspers(腾讯南非大股东)","WIX":"Wix.Com Ltd","ROKU":"Roku Inc"},"source_url":"https://www.fool.com/investing/2021/05/23/these-3-stocks-are-screaming-buys-amid-the-tech-se/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137797184","content_text":"After an epic rise in 2020, tech stocks have hit a rough patch to kick off 2021. Some companies are running into slowdowns in their growth trajectories, as they start to lap the bump in business they got a year ago when the pandemic started.That doesn't mean all of these businesses are spent, though. Far from it: Many have incredibly bright outlooks and are screaming buys after getting caught up in the recent sell-off. Right now, three Fool.com contributors think Wix.com (NASDAQ:WIX), Roku (NASDAQ:ROKU), and Naspers (OTC:NPSNY) are worth a look.Building modern websites for small businessesNicholas Rossolillo (Wix.com): Wix turned in a fantastic start to 2021, but many investors chose to focus on the company's decision to stop disclosing specific user and premium subscriber counts (the service reached 200 million registered users worldwide in February, and nearly 5.5 million premium subscribers at the end of 2020). Sometimes a company will stop divulging metrics that no longer paint a favorable picture, but I don't think that's what's going on here. Wix already boasts a massive following, but user-count growth, and more importantly, user activity on Wix services, are already implied by the company's revenue trajectory.And on that front, Wix did exceptionally well in the first quarter of 2021. Revenue increased 41% year over year to $304 million, and management said to expect full-year revenue growth of 29% to 30%, to at least $1.28 billion -- building on top of the 30% gain in sales it notched in 2020. Free cash flow (FCF) is anticipated to be just $62 million to $72 million as the company spends to expand its reach in global e-commerce, an FCF profit margin of about 5%. However, Wix was generating FCF margin of nearly 20% last year, pretty good for a high-growth tech company. Eventually, I expect Wix will return to those profitability levels, and when it does, it will be a much larger business than it was before.For now, though, Wix is focusing on the tens of millions of small- and midsize-business relationships it has around the world. Recent product launches -- like Editor X for advertising agencies, and Wix integration with Alphabet's Google, so businesses can manage their web search presence -- will help it deepen those relationships; so will the acquisition of gift-card and store-credit tech outfit Rise.ai. In fact, Wix's aim is to build out easy-to-use e-commerce capabilities to help small businesses -- from local restaurants to event centers to fitness instructors -- have a quality online presence. CEO Avishai Abrahami said on the Q1 earnings call that the goal is to have half of all new web content created on Wix within the next five to seven years.The company is already well on its way toward accomplishing its mission. I think Wix stock is a compelling value, after getting sold off because of myopic views on elimination of user-count metrics. Shares trade for under 11 times full-year revenue expectations, the cheapest they've been since the start of the pandemic, even though the company's growth trajectory hasn't lost any steam. I, for one, am a buyer at these levels.A surefire winner in the media-streaming warsAnders Bylund (Roku): Media-streaming technology expert Roku (NASDAQ:ROKU) skyrocketed 148% higher in 2020 but has struggled to maintain that momentum in 2021. These days, the stock is trading more than 30% below January's all-time highs.The thing is, Roku's long-term growth story really hasn't changed. The shifting investor attitude is based on broader market trends, not on any flaws in Roku's business plan.This company is crushing analyst targets with astonishing consistency. Roku has delivered positive earnings in the last three quarterly reports, when the Street was expecting negative bottom-line results in every case. Revenue exceeded analyst estimates by an average of 15% over the same period, including a 17% outperformance in the recent first-quarter update.Roku is often lumped together with other stocks that rose sharply during the 2020 coronavirus lockdowns. The basic assumption is that Roku's business prospects surely will fade once the health crisis is over, setting the stock up for a massive price drop.That's a big mistake. Roku's value as a long-term investment may have seen a modest boost from the pandemic, but the media-streaming market started to boom before COVID-19 came along and will continue to disrupt the global media market for many years to come.\"Streaming services are taking advantage of the tools Roku offers to help build audience and make their streaming business successful,\" Roku founder and CEO Anthony Wood said in the first-quarter earnings call. \"We believe the inevitability of streaming is clear and that Roku's business model allows us to optimize streaming for all stakeholders, including viewers, advertisers, and content partners.\"In other words, Roku stands to win as media-streaming services supplant cable TV and movie theaters around the world, and it really doesn't matter exactly which streaming services come out on top. All of them depend more and more on Roku's technology platforms and ad-buying services.And now I can buy this big winner at a 30% discount. Where do I sign up?A premier large cap at half-price, with a near-term catalyst on the horizonBilly Duberstein (Naspers): Chinese internet giant Tencent Holdings (OTC:TCEHY) is down a little more than 20% from its February highs, which is not quite as bad as many software stocks, but still much worse than the FAANG stocks here in the U.S.But the really big bargain isn't in Tencent itself: It's in its largest shareholder, Naspers, which owns almost 29% of the Chinese giant through its majority stake in Prosus (OTC:PROSY). Both stocks are down by a similar amount. For those unfamiliar with the company, Naspers invested $32 million for one-third of Tencent in 2001. Flash forward to today, and that stake is now worth nearly a quarter of a trillion dollars.The problem? Naspers began trading at a huge discount to the value of Tencent alone, never mind its billions in other emerging-market companies across classifieds, fintech, and food delivery. Naspers attributed the growing discount to its being listed on the Johannesburg Stock Exchange (JSE), so in 2019, Naspers created Prosus. That company housed basically all of its investments outside South Africa (including Tencent), and listed itself on the larger Euronext exchange in Amsterdam, selling about 27% of Prosus to the public. But that didn't really work either: Prosus then began selling at a similar discount...and Naspers traded at a discount even to the value of its stake in Prosus.So why is Naspers an especially compelling value today? Because Naspers and Prosus have taken three recent actions that could close the discount later this year. First, Prosus announced a $5 billion share repurchase program back in October, divided between both Prosus and Naspers shares, and Naspers just disclosed Prosus had already bought back 3% of shares outstanding in about six months. Repurchasing shares at a massive discount to intrinsic value adds long-term values for shareholders.Second, Prosus cashed in about 2% of Tencent in early April, at prices higher than Tencent trades for today, lowering its stake from 31% to roughly 29%. That sale brought in $14.6 billion. Now flush with cash, Prosus can use the windfall to grow its non-Tencent business, and/or continue repurchasing shares.Finally, following the partial sale of the Tencent stake, Naspers and Prosus just announced a share swap plan, in which Prosus would swap its less-discounted shares for the more-discounted Naspers shares, with the aim of acquiring 49.5% of Naspers. The thinking is that it would lower Naspers' 23% weighting on the JSE, giving it more \"room\" to grow toward fair value. Meanwhile, Prosus will have a bigger free float, and would therefore get higher weightings in European indexes and exchange-traded funds, which could theoretically close the discount to Tencent. In addition, the company announced the potential for another $5 billion buyback of Prosus shares after the transaction.Between the ongoing repurchases, and the potential catalyst of the upcoming share swap (which should occur in the third quarter), investors can get a nice double discount today -- with another potential catalyst on the horizon, after the Tencent/Prosus/Naspers sell-off.","news_type":1},"isVote":1,"tweetType":1,"viewCount":385,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139213658,"gmtCreate":1621636731874,"gmtModify":1704360736706,"author":{"id":"3570186409430733","authorId":"3570186409430733","authorIdStr":"3570186409430733","name":"HAOCHEN","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570186409430733"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/139213658","repostId":"2137906121","repostType":4,"repost":{"id":"2137906121","pubTimestamp":1621611396,"share":"https://ttm.financial/m/news/2137906121?lang=&edition=fundamental","pubTime":"2021-05-21 23:36","market":"us","language":"en","title":"Here Are the 3 Bank Moves Warren Buffett Has Made So Far in 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2137906121","media":"Motley Fool","summary":"Berkshire Hathaway has continued to reduce its stakes in banks.","content":"<p><b>Berkshire Hathaway</b> (NYSE:BRK.A) (NYSE:BRK.B) recently filed its 13F form for the first quarter of 2021, detailing what stock sales and purchases the conglomerate and the legendary investor in charge, Warren Buffett, made during the period. As has been the case for most of the past year, Buffett was active in the financial sector, mostly reducing Berkshire Hathaway's positions in banks. At the company's annual investor day earlier this month, Buffett provided some explanation for all the stock selling he's done in that sector.</p>\n<p>\"I like banks generally,\" he said, \"I just didn't like the proportion we had compared to the possible risk if we got the bad results that so far we haven't gotten.\"</p>\n<p>Let's review the three big changes Buffett and Berkshire Hathaway made to their bank holdings in the first quarter.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c2da7d6438277757a73f9e626ebc6fc2\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>1. All but eliminating Wells Fargo</h2>\n<p>Everyone knew it was coming, but Buffett all but made it official last quarter, nearly eliminating his position in his onetime favorite bank, <b>Wells Fargo</b> (NYSE:WFC). Berkshire Hathaway sold 51.7 million shares, dropping its stake to a mere 675,000 shares valued at $26.3 million.</p>\n<p>This essentially ends what was an epic run for the Oracle of Omaha and Wells Fargo. Buffett first purchased shares in the large U.S. bank in 1989, and by 1994, he had acquired more than 13% of its outstanding shares. At the end of the third quarter of 2019, before the pandemic, Buffett's stake, which had a rough original cost basis of just below $9 billion, was worth close to $20 billion. And at <a href=\"https://laohu8.com/S/AONE\">one</a> point back in 2017, it was reportedly worth as much as $29 billion.</p>\n<p>But as the fallout of Wells Fargo's phony accounts scandal and other revelations about its consumer abuses continued to play out, Buffett began to lose faith in the institution and started trimming his position. It looks like Buffett ultimately ended up making much less on his Wells Fargo investment than he could have, considering he sold more than 323 million shares between the end of Q1 2020 and the end of Q1 2021. During that 12-month period, the bank's shares traded from a low of $21.45 to a high of $39.07. At the end of 2019, they traded north of $53.</p>\n<p>The stock closed at $45.73 on Thursday, and many investors still believe Wells Fargo is undervalued these days, trading at 135% tangible book value (equity minus intangible assets and goodwill). Bank valuations have shot up in recent months, and Wells Fargo in particular could see more tailwinds when the Federal Reserve lifts the $1.95 trillion asset cap that the bank has been operating under since 2018.</p>\n<h2>2. Dumping <a href=\"https://laohu8.com/S/SYF\">Synchrony Financial</a></h2>\n<p>Last quarter, Berkshire Hathaway also eliminated its entire stake in the consumer finance credit card company <b>Synchrony Financial </b>(NYSE:SYF), selling its 21.1 million shares. Synchrony uses what it calls a \"partner-centric\" business model under which it teams up with leading retailers and digital brands that promote Synchrony's credit cards. Consumers can get deals on specific purchases by opening Synchrony credit cards, which are often branded under a retailer's name.</p>\n<p>While I wouldn't say I saw this move coming, it doesn't entirely surprise me. Over the last year, Buffett has become even more selective about which banks he wants to own. He seems to be picking a winner or two in each banking industry subcategory -- for instance, he sold his stake in America's largest bank, <b>JPMorgan Chase</b>, and loaded up on America's second-largest bank, <b>Bank of America</b>.</p>\n<p>Considering that Buffett already has a huge position in <b>American <a href=\"https://laohu8.com/S/EXPR\">Express</a></b>, and loves the brand, that is likely going to be his pick for a credit-card-focused holding. Berkshire Hathaway likely made a good profit on that Synchrony investment, though, considering that the stock hit its highest level ever during Q1.</p>\n<h2>3. Trimming U.S. Bancorp again</h2>\n<p>Berkshire Hathaway also sold about 1.45 million shares of <b>U.S. Bancorp</b> (NYSE:USB) in the first quarter -- but it still owns nearly 129.7 million shares. The Oracle of Omaha has sold small quantities of shares of the Minnesota-based regional bank a few times over the last year, and it's a bit unclear why. It does appear that he has made U.S. Bancorp his regional bank pick, though. He sold off his other regional bank holdings, including his stakes in <b>PNC Financial Services Group</b> and <b>M&T Bank</b>, in the fourth quarter of 2020. </p>\n<p>One possible explanation relates to Buffett's well-known desire to keep his stakes in those banks below 10%, so he can avoid the additional reporting requirements that a higher ownership level would trigger. At the end of the first quarter, Buffett owned about 8.7% of U.S. Bancorp's outstanding shares. So his stock sale may have simply been a move to prepare for the bank's planned share repurchases, which should accelerate later this year. Last quarter's adjustment should maintain Berkshire Hathaway's stake at a level comfortably under the 10% threshold, even after U.S. Bancorp's total share count is reduced. </p>\n<p>Overall, I still feel confident that Buffett plans to stick with U.S. Bancorp, although I will continue to watch his moves in upcoming quarters to see if he further reduces his stake in it.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the 3 Bank Moves Warren Buffett Has Made So Far in 2021</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the 3 Bank Moves Warren Buffett Has Made So Far in 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 23:36 GMT+8 <a href=https://www.fool.com/investing/2021/05/21/here-are-the-3-bank-moves-warren-buffett-has-made/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) recently filed its 13F form for the first quarter of 2021, detailing what stock sales and purchases the conglomerate and the legendary investor in charge, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/21/here-are-the-3-bank-moves-warren-buffett-has-made/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","SYF":"Synchrony Financial","WFC":"富国银行","BRK.B":"伯克希尔B","USB":"美国合众银行"},"source_url":"https://www.fool.com/investing/2021/05/21/here-are-the-3-bank-moves-warren-buffett-has-made/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137906121","content_text":"Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) recently filed its 13F form for the first quarter of 2021, detailing what stock sales and purchases the conglomerate and the legendary investor in charge, Warren Buffett, made during the period. As has been the case for most of the past year, Buffett was active in the financial sector, mostly reducing Berkshire Hathaway's positions in banks. At the company's annual investor day earlier this month, Buffett provided some explanation for all the stock selling he's done in that sector.\n\"I like banks generally,\" he said, \"I just didn't like the proportion we had compared to the possible risk if we got the bad results that so far we haven't gotten.\"\nLet's review the three big changes Buffett and Berkshire Hathaway made to their bank holdings in the first quarter.\nImage source: Getty Images.\n1. All but eliminating Wells Fargo\nEveryone knew it was coming, but Buffett all but made it official last quarter, nearly eliminating his position in his onetime favorite bank, Wells Fargo (NYSE:WFC). Berkshire Hathaway sold 51.7 million shares, dropping its stake to a mere 675,000 shares valued at $26.3 million.\nThis essentially ends what was an epic run for the Oracle of Omaha and Wells Fargo. Buffett first purchased shares in the large U.S. bank in 1989, and by 1994, he had acquired more than 13% of its outstanding shares. At the end of the third quarter of 2019, before the pandemic, Buffett's stake, which had a rough original cost basis of just below $9 billion, was worth close to $20 billion. And at one point back in 2017, it was reportedly worth as much as $29 billion.\nBut as the fallout of Wells Fargo's phony accounts scandal and other revelations about its consumer abuses continued to play out, Buffett began to lose faith in the institution and started trimming his position. It looks like Buffett ultimately ended up making much less on his Wells Fargo investment than he could have, considering he sold more than 323 million shares between the end of Q1 2020 and the end of Q1 2021. During that 12-month period, the bank's shares traded from a low of $21.45 to a high of $39.07. At the end of 2019, they traded north of $53.\nThe stock closed at $45.73 on Thursday, and many investors still believe Wells Fargo is undervalued these days, trading at 135% tangible book value (equity minus intangible assets and goodwill). Bank valuations have shot up in recent months, and Wells Fargo in particular could see more tailwinds when the Federal Reserve lifts the $1.95 trillion asset cap that the bank has been operating under since 2018.\n2. Dumping Synchrony Financial\nLast quarter, Berkshire Hathaway also eliminated its entire stake in the consumer finance credit card company Synchrony Financial (NYSE:SYF), selling its 21.1 million shares. Synchrony uses what it calls a \"partner-centric\" business model under which it teams up with leading retailers and digital brands that promote Synchrony's credit cards. Consumers can get deals on specific purchases by opening Synchrony credit cards, which are often branded under a retailer's name.\nWhile I wouldn't say I saw this move coming, it doesn't entirely surprise me. Over the last year, Buffett has become even more selective about which banks he wants to own. He seems to be picking a winner or two in each banking industry subcategory -- for instance, he sold his stake in America's largest bank, JPMorgan Chase, and loaded up on America's second-largest bank, Bank of America.\nConsidering that Buffett already has a huge position in American Express, and loves the brand, that is likely going to be his pick for a credit-card-focused holding. Berkshire Hathaway likely made a good profit on that Synchrony investment, though, considering that the stock hit its highest level ever during Q1.\n3. Trimming U.S. Bancorp again\nBerkshire Hathaway also sold about 1.45 million shares of U.S. Bancorp (NYSE:USB) in the first quarter -- but it still owns nearly 129.7 million shares. The Oracle of Omaha has sold small quantities of shares of the Minnesota-based regional bank a few times over the last year, and it's a bit unclear why. It does appear that he has made U.S. Bancorp his regional bank pick, though. He sold off his other regional bank holdings, including his stakes in PNC Financial Services Group and M&T Bank, in the fourth quarter of 2020. \nOne possible explanation relates to Buffett's well-known desire to keep his stakes in those banks below 10%, so he can avoid the additional reporting requirements that a higher ownership level would trigger. At the end of the first quarter, Buffett owned about 8.7% of U.S. Bancorp's outstanding shares. So his stock sale may have simply been a move to prepare for the bank's planned share repurchases, which should accelerate later this year. Last quarter's adjustment should maintain Berkshire Hathaway's stake at a level comfortably under the 10% threshold, even after U.S. Bancorp's total share count is reduced. \nOverall, I still feel confident that Buffett plans to stick with U.S. Bancorp, although I will continue to watch his moves in upcoming quarters to see if he further reduces his stake in it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192504782,"gmtCreate":1621214469446,"gmtModify":1704353996790,"author":{"id":"3570186409430733","authorId":"3570186409430733","authorIdStr":"3570186409430733","name":"HAOCHEN","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570186409430733"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/192504782","repostId":"2135984810","repostType":4,"isVote":1,"tweetType":1,"viewCount":709,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":139213658,"gmtCreate":1621636731874,"gmtModify":1704360736706,"author":{"id":"3570186409430733","authorId":"3570186409430733","authorIdStr":"3570186409430733","name":"HAOCHEN","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570186409430733"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/139213658","repostId":"2137906121","repostType":4,"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192504782,"gmtCreate":1621214469446,"gmtModify":1704353996790,"author":{"id":"3570186409430733","authorId":"3570186409430733","authorIdStr":"3570186409430733","name":"HAOCHEN","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570186409430733"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/192504782","repostId":"2135984810","repostType":4,"isVote":1,"tweetType":1,"viewCount":709,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":131167162,"gmtCreate":1621837198656,"gmtModify":1704363070747,"author":{"id":"3570186409430733","authorId":"3570186409430733","authorIdStr":"3570186409430733","name":"HAOCHEN","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570186409430733"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/131167162","repostId":"2137797184","repostType":4,"isVote":1,"tweetType":1,"viewCount":385,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}