n123 personal page - To The Moon

n123

No personal profile

40Follow

1Followers

1Topic

0Badge

03-02

Great article, would you like to share it?

Berkshire Hathaway’s CEO Suggests These 4 Companies Are Forever Stocks—and 2 That Might Not Be

2024-04-27

Great article, would you like to share it?

Google Is Officially a $2 Trillion Company

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3575400901791656","uuid":"3575400901791656","gmtCreate":1640756210232,"gmtModify":1709473086671,"name":"n123","pinyin":"n123","introduction":"","introductionEn":"","signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":40,"tweetSize":2,"questionSize":0,"limitLevel":999,"accountStatus":2,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":1,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":3,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.02.07","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"44212b71d0be4ec88898348dbe882e03-1","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Boss Tiger","description":"The transaction amount of the securities account reaches $100,000","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.02.11","exceedPercentage":"60.37%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.08.27","exceedPercentage":"60.36%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.03.29","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":9,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":538253404815776,"gmtCreate":1772431185617,"gmtModify":1772431841372,"author":{"id":"3575400901791656","authorId":"3575400901791656","name":"n123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575400901791656","idStr":"3575400901791656"},"themes":[],"title":"","htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/538253404815776","repostId":"2616849413","repostType":2,"repost":{"id":"2616849413","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1772427600,"share":"https://ttm.financial/m/news/2616849413?lang=en_US&edition=fundamental","pubTime":"2026-03-02 13:00","market":"us","language":"en","title":"Berkshire Hathaway’s CEO Suggests These 4 Companies Are Forever Stocks—and 2 That Might Not Be","url":"https://stock-news.laohu8.com/highlight/detail?id=2616849413","media":"Dow Jones","summary":"Charlie Munger ran the equity portfolio now worth about $500 million at Daily Journal, a public legal-services company, for decades—and the company essentially decided to leave it alone after...","content":"<html><head></head><body><p style=\"text-align: start;\">Charlie Munger ran the equity portfolio now worth about $500 million at Daily Journal, a public legal-services company, for decades—and the company essentially decided to leave it alone after Munger’s death in late 2023.</p><p><a href=\"https://laohu8.com/S/BRK.B\">Berkshire Hathaway</a> may be doing the same thing with most of its roughly $300 billion equity portfolio after Warren Buffett stepped down from the CEO role at the end of 2025. Munger was Berkshire’s vice chairman and a longtime business partner of Buffett, in addition to chairing Daily Journal for decades.</p><p>In his inaugural shareholder letter released Saturday morning, Berkshire CEO Greg Abel identified four large Berkshire equity investments— <a href=\"https://laohu8.com/S/AAPL\">Apple</a>, <a href=\"https://laohu8.com/S/AXP\">American Express</a>, <a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>, and <a href=\"https://laohu8.com/S/MCO\">Moody’s</a> —and suggested they are forever stocks, or close to it.</p><p>Referring to the four companies, Abel wrote they are businesses “we understand well, have a high regard for their leaders, and expect will compound over decades. This concentrated approach will continue, with limited activity in these holdings, though we may significantly adjust a holding if we see fundamental changes in its long-term economic prospects.”</p><p>These stocks make up more than half of Berkshire’s equity portfolio, and Abel put Berkshire’s stakes in five Japanese trading companies worth $35 billion in the same bucket. Together, these nine stocks comprise two-thirds of the portfolio.</p><p style=\"text-align: start;\">Abel added that Berkshire had “meaningful positions in a small number of other companies” where “capital allocation has been more dynamic” and that they could become part of Berkshire’s “core holdings.”</p><p style=\"text-align: start;\">It’s notable that two of Berkshire’s top five equity investments, Bank of America and Chevron, didn’t make that core holdings list. Berkshire has cut its holding in Bank of America roughly in half to 517 million shares, worth about $28 billion, in the past 18 months. The Chevron stake totals about $20 billion.</p><p>Berkshire has held its Coke and American Express stakes for 40 years or more, and its Moody’s stake for more than 20 years. Those are widely viewed as forever stocks by Berkshire watchers, due in part to a superlow cost basis. Berkshire paid an average of $3 a share for Coke in the late 1980s, compared with the stock’s $81 close, a record, on Friday.</p><p style=\"text-align: start;\">The Apple stake is about a decade old. Buffett has cut it by about 80% from its peak a few years ago to 227 million shares at year-end 2025.</p><p style=\"text-align: start;\">Abel’s statement suggests that the Apple stake won’t be reduced further. Berkshire’s cost basis in its Apple stake is about $27 a share, about a tenth of the current share price of $264. Berkshire’s original cost basis on its stake of one billion shares was around $35 a share, but the company appears to have sold higher-cost-basis stock to reduce its big tax bill from its Apple sales, mostly in 2024.</p><p style=\"text-align: start;\">The day-to-day management of the Berkshire equity portfolio remains unclear based on Abel’s comments in the letter.</p><p style=\"text-align: start;\">Abel wrote that “responsibility ultimately rests with me as CEO.” Abel, however, has no experience as a portfolio manager, and has a full plate running Berkshire’s 50-plus subsidiaries. Buffett has said that lack of formal investment experience doesn’t matter, arguing that if a person can evaluate businesses as well as Abel can, he can pick stocks.</p><p style=\"text-align: start;\">Abel wrote that Buffett would be in the office five days a week and “be available” to consult on capital allocation, including equity investments.</p><p>Ted Weschler, who is about 64, has been investment manager at Berkshire since 2012. He and Todd Combs, who left Berkshire in December for an investment position at JPMorgan Chase, had each run an estimated 5% of the equity portfolio, with Buffett handling the rest.</p><p style=\"text-align: start;\">It had been expected that Weschler would play a much greater role with the portfolio after Buffett’s retirement as CEO. But Abel wrote that Weschler would manage 6% of the investments, including a part of what Combs had run—not much changed from what he ran before.</p><p style=\"text-align: start;\">This is a different setup than what Berkshire stated when it hired Weschler in 2011. “After Mr. Buffett no longer serves as CEO, Todd and Ted—possibly aided by one additional manager—will have responsibility for the entire equity and debt portfolio of Berkshire, subject to overall direction by the then-CEO and Board of Directors,” according to the 2011 news release.</p><p style=\"text-align: start;\">Abel wrote in his letter that “equity investments are fundamental to our capital allocation activities.” But it’s not clear who will be making big stock-picking decisions. Some Berkshire watchers think that Abel will de-emphasize equity investing as CEO.</p><p style=\"text-align: start;\">That remains to be seen, but the lack of a day-to-day portfolio manager responsible for the entire portfolio—and Abel’s suggestion about forever stocks—suggest that new equity investments may not be a big future source of value creation at Berkshire.</p><p>That would be notable, since Buffett built Berkshire in its early decades from successful stock investments.</p></body></html>","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>Berkshire Hathaway’s CEO Suggests These 4 Companies Are Forever Stocks—and 2 That Might Not Be</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\">\nBerkshire Hathaway’s CEO Suggests These 4 Companies Are Forever Stocks—and 2 That Might Not Be\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-02 13:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: start;\">Charlie Munger ran the equity portfolio now worth about $500 million at Daily Journal, a public legal-services company, for decades—and the company essentially decided to leave it alone after Munger’s death in late 2023.</p><p><a href=\"https://laohu8.com/S/BRK.B\">Berkshire Hathaway</a> may be doing the same thing with most of its roughly $300 billion equity portfolio after Warren Buffett stepped down from the CEO role at the end of 2025. Munger was Berkshire’s vice chairman and a longtime business partner of Buffett, in addition to chairing Daily Journal for decades.</p><p>In his inaugural shareholder letter released Saturday morning, Berkshire CEO Greg Abel identified four large Berkshire equity investments— <a href=\"https://laohu8.com/S/AAPL\">Apple</a>, <a href=\"https://laohu8.com/S/AXP\">American Express</a>, <a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>, and <a href=\"https://laohu8.com/S/MCO\">Moody’s</a> —and suggested they are forever stocks, or close to it.</p><p>Referring to the four companies, Abel wrote they are businesses “we understand well, have a high regard for their leaders, and expect will compound over decades. This concentrated approach will continue, with limited activity in these holdings, though we may significantly adjust a holding if we see fundamental changes in its long-term economic prospects.”</p><p>These stocks make up more than half of Berkshire’s equity portfolio, and Abel put Berkshire’s stakes in five Japanese trading companies worth $35 billion in the same bucket. Together, these nine stocks comprise two-thirds of the portfolio.</p><p style=\"text-align: start;\">Abel added that Berkshire had “meaningful positions in a small number of other companies” where “capital allocation has been more dynamic” and that they could become part of Berkshire’s “core holdings.”</p><p style=\"text-align: start;\">It’s notable that two of Berkshire’s top five equity investments, Bank of America and Chevron, didn’t make that core holdings list. Berkshire has cut its holding in Bank of America roughly in half to 517 million shares, worth about $28 billion, in the past 18 months. The Chevron stake totals about $20 billion.</p><p>Berkshire has held its Coke and American Express stakes for 40 years or more, and its Moody’s stake for more than 20 years. Those are widely viewed as forever stocks by Berkshire watchers, due in part to a superlow cost basis. Berkshire paid an average of $3 a share for Coke in the late 1980s, compared with the stock’s $81 close, a record, on Friday.</p><p style=\"text-align: start;\">The Apple stake is about a decade old. Buffett has cut it by about 80% from its peak a few years ago to 227 million shares at year-end 2025.</p><p style=\"text-align: start;\">Abel’s statement suggests that the Apple stake won’t be reduced further. Berkshire’s cost basis in its Apple stake is about $27 a share, about a tenth of the current share price of $264. Berkshire’s original cost basis on its stake of one billion shares was around $35 a share, but the company appears to have sold higher-cost-basis stock to reduce its big tax bill from its Apple sales, mostly in 2024.</p><p style=\"text-align: start;\">The day-to-day management of the Berkshire equity portfolio remains unclear based on Abel’s comments in the letter.</p><p style=\"text-align: start;\">Abel wrote that “responsibility ultimately rests with me as CEO.” Abel, however, has no experience as a portfolio manager, and has a full plate running Berkshire’s 50-plus subsidiaries. Buffett has said that lack of formal investment experience doesn’t matter, arguing that if a person can evaluate businesses as well as Abel can, he can pick stocks.</p><p style=\"text-align: start;\">Abel wrote that Buffett would be in the office five days a week and “be available” to consult on capital allocation, including equity investments.</p><p>Ted Weschler, who is about 64, has been investment manager at Berkshire since 2012. He and Todd Combs, who left Berkshire in December for an investment position at JPMorgan Chase, had each run an estimated 5% of the equity portfolio, with Buffett handling the rest.</p><p style=\"text-align: start;\">It had been expected that Weschler would play a much greater role with the portfolio after Buffett’s retirement as CEO. But Abel wrote that Weschler would manage 6% of the investments, including a part of what Combs had run—not much changed from what he ran before.</p><p style=\"text-align: start;\">This is a different setup than what Berkshire stated when it hired Weschler in 2011. “After Mr. Buffett no longer serves as CEO, Todd and Ted—possibly aided by one additional manager—will have responsibility for the entire equity and debt portfolio of Berkshire, subject to overall direction by the then-CEO and Board of Directors,” according to the 2011 news release.</p><p style=\"text-align: start;\">Abel wrote in his letter that “equity investments are fundamental to our capital allocation activities.” But it’s not clear who will be making big stock-picking decisions. Some Berkshire watchers think that Abel will de-emphasize equity investing as CEO.</p><p style=\"text-align: start;\">That remains to be seen, but the lack of a day-to-day portfolio manager responsible for the entire portfolio—and Abel’s suggestion about forever stocks—suggest that new equity investments may not be a big future source of value creation at Berkshire.</p><p>That would be notable, since Buffett built Berkshire in its early decades from successful stock investments.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1221951046.USD":"NORDEA 1 STABLE RETURN \"HM\" (USDHDG) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU1221951129.SGD":"NORDEA 1 STABLE RETURN \"HM\" (SGDHDG) INC","LU2506951875.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) ACC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU2506952097.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU2506951958.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) INC","LU1196500208.SGD":"NORDEA STABLE RETURN \"HB\" (SGDHDG) ACC","LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU1121112475.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USDHDG) ACC","LU2506952170.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) INC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU1670711123.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) INC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","LU0823417653.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) ACC","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","IE00BDGV0183.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) INC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","BK4504":"桥水持仓","AXP":"美国运通","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4112":"金融交易所和数据","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU1032466523.USD":"高盛全球多资产收益组合Acc","LU1043141396.HKD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BRK.A":"伯克希尔","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU1032955483.USD":"NORDEA 1 STABLE RETURN \"HB\" (USDHDG) ACC","BRK.B":"伯克希尔B","LU1043141123.HKD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) INC 2","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","MCO":"穆迪","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU2097829019.USD":"AZ EQUITY - BORLETTI GLOBAL LIFESTYLE \"AI\" (USD) ACC","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU0994945656.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USD) INC 2","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","BK4610":"咖啡茶饮","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","BK4176":"多领域控股","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE00BGHQF631.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","IE00B3PB1722.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) INC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","SG9999001077.SGD":"United International Growth Fund SGD","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","IE00B42XCP33.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) INC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU0426417589.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USD) INC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","BK4177":"软饮料","BRKC":"YieldMax BRK.B Option Income ETF","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","AAPL":"苹果","SG9999011175.SGD":"Nikko AM Global Dividend Equity Dis SGD-H","BRKD":"Direxion Daily BRKB Bear 1X Shares","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","BRKU":"2倍做多BRKB ETF-Direxion","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","BRKW":"Roundhill BRKB WeeklyPay™ ETF","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4532":"文艺复兴科技持仓","BK4581":"高盛持仓","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","LU1732800096.USD":"摩根大通环球收益基金A (irc)","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4534":"瑞士信贷持仓","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","KO":"可口可乐","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","SG9999014559.SGD":"United Income Focus Trust Dis SGD","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU2279689827.SGD":"JPMorgan Investment Funds - Global Income Sustainable A (mth) SGD-H","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0426412945.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USD) ACC","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","BK4548":"巴美列捷福持仓","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0251142724.SGD":"Fidelity America A-SGD","IE00BVYPNW00.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) ACC","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU0823417737.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC","BK4585":"ETF&股票定投概念","LU0950375773.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC A","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","SG9999002232.USD":"Allianz Global High Payout USD","LU0971096721.USD":"富达环球金融服务 A","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","SG9999002224.SGD":"Allianz Global High Payout SGD","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","BK4559":"巴菲特持仓","SG9999014542.SGD":"United Income Focus Trust Acc SGD","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","BK4588":"碎股","BK4550":"红杉资本持仓","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2616849413","content_text":"Charlie Munger ran the equity portfolio now worth about $500 million at Daily Journal, a public legal-services company, for decades—and the company essentially decided to leave it alone after Munger’s death in late 2023.Berkshire Hathaway may be doing the same thing with most of its roughly $300 billion equity portfolio after Warren Buffett stepped down from the CEO role at the end of 2025. Munger was Berkshire’s vice chairman and a longtime business partner of Buffett, in addition to chairing Daily Journal for decades.In his inaugural shareholder letter released Saturday morning, Berkshire CEO Greg Abel identified four large Berkshire equity investments— Apple, American Express, Coca-Cola, and Moody’s —and suggested they are forever stocks, or close to it.Referring to the four companies, Abel wrote they are businesses “we understand well, have a high regard for their leaders, and expect will compound over decades. This concentrated approach will continue, with limited activity in these holdings, though we may significantly adjust a holding if we see fundamental changes in its long-term economic prospects.”These stocks make up more than half of Berkshire’s equity portfolio, and Abel put Berkshire’s stakes in five Japanese trading companies worth $35 billion in the same bucket. Together, these nine stocks comprise two-thirds of the portfolio.Abel added that Berkshire had “meaningful positions in a small number of other companies” where “capital allocation has been more dynamic” and that they could become part of Berkshire’s “core holdings.”It’s notable that two of Berkshire’s top five equity investments, Bank of America and Chevron, didn’t make that core holdings list. Berkshire has cut its holding in Bank of America roughly in half to 517 million shares, worth about $28 billion, in the past 18 months. The Chevron stake totals about $20 billion.Berkshire has held its Coke and American Express stakes for 40 years or more, and its Moody’s stake for more than 20 years. Those are widely viewed as forever stocks by Berkshire watchers, due in part to a superlow cost basis. Berkshire paid an average of $3 a share for Coke in the late 1980s, compared with the stock’s $81 close, a record, on Friday.The Apple stake is about a decade old. Buffett has cut it by about 80% from its peak a few years ago to 227 million shares at year-end 2025.Abel’s statement suggests that the Apple stake won’t be reduced further. Berkshire’s cost basis in its Apple stake is about $27 a share, about a tenth of the current share price of $264. Berkshire’s original cost basis on its stake of one billion shares was around $35 a share, but the company appears to have sold higher-cost-basis stock to reduce its big tax bill from its Apple sales, mostly in 2024.The day-to-day management of the Berkshire equity portfolio remains unclear based on Abel’s comments in the letter.Abel wrote that “responsibility ultimately rests with me as CEO.” Abel, however, has no experience as a portfolio manager, and has a full plate running Berkshire’s 50-plus subsidiaries. Buffett has said that lack of formal investment experience doesn’t matter, arguing that if a person can evaluate businesses as well as Abel can, he can pick stocks.Abel wrote that Buffett would be in the office five days a week and “be available” to consult on capital allocation, including equity investments.Ted Weschler, who is about 64, has been investment manager at Berkshire since 2012. He and Todd Combs, who left Berkshire in December for an investment position at JPMorgan Chase, had each run an estimated 5% of the equity portfolio, with Buffett handling the rest.It had been expected that Weschler would play a much greater role with the portfolio after Buffett’s retirement as CEO. But Abel wrote that Weschler would manage 6% of the investments, including a part of what Combs had run—not much changed from what he ran before.This is a different setup than what Berkshire stated when it hired Weschler in 2011. “After Mr. Buffett no longer serves as CEO, Todd and Ted—possibly aided by one additional manager—will have responsibility for the entire equity and debt portfolio of Berkshire, subject to overall direction by the then-CEO and Board of Directors,” according to the 2011 news release.Abel wrote in his letter that “equity investments are fundamental to our capital allocation activities.” But it’s not clear who will be making big stock-picking decisions. Some Berkshire watchers think that Abel will de-emphasize equity investing as CEO.That remains to be seen, but the lack of a day-to-day portfolio manager responsible for the entire portfolio—and Abel’s suggestion about forever stocks—suggest that new equity investments may not be a big future source of value creation at Berkshire.That would be notable, since Buffett built Berkshire in its early decades from successful stock investments.","news_type":1,"symbols_score_info":{"BRKU":0.6,"BRK.B":1.96,"BRK.A":2,"BRKC":0.6,"MCO":2,"BRKD":0.6,"AXP":2,"KO":2,"AAPL":1.88,"BRKW":0.6}},"isVote":1,"tweetType":1,"viewCount":15,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":299762382983216,"gmtCreate":1714203594557,"gmtModify":1714207180091,"author":{"id":"3575400901791656","authorId":"3575400901791656","name":"n123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575400901791656","idStr":"3575400901791656"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/299762382983216","repostId":"2430736880","repostType":2,"repost":{"id":"2430736880","kind":"highlight","pubTimestamp":1714177670,"share":"https://ttm.financial/m/news/2430736880?lang=en_US&edition=fundamental","pubTime":"2024-04-27 08:27","market":"us","language":"en","title":"Google Is Officially a $2 Trillion Company","url":"https://stock-news.laohu8.com/highlight/detail?id=2430736880","media":"The Verge","summary":"Google has spent the past year dealing with two of the biggest threats in its 25-year history: the rise of generative AI and the growing drumbeat of regulation. AI, in particular, has shaken the compa","content":"<div>\n<p>Google has spent the past year dealing with two of the biggest threats in its 25-year history: the rise of generative AI and the growing drumbeat of regulation. AI, in particular, has shaken the ...</p>\n\n<a href=\"https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue\">Source Link</a>\n\n</div>\n","source":"theverge_highlight","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>Google Is Officially a $2 Trillion Company</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\">\nGoogle Is Officially a $2 Trillion Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-27 08:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue><strong>The Verge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Google has spent the past year dealing with two of the biggest threats in its 25-year history: the rise of generative AI and the growing drumbeat of regulation. AI, in particular, has shaken the ...</p>\n\n<a href=\"https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4538":"云计算","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","BK4550":"红杉资本持仓","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0557290698.USD":"施罗德环球可持续增长基金","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0444971666.USD":"天利全球科技基金","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","GOOG":"谷歌","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0072462426.USD":"贝莱德全球配置 A2","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","LU0149725797.USD":"汇丰美国股市经济规模基金","GOOGL":"谷歌A","BK4553":"喜马拉雅资本持仓","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2","BK4534":"瑞士信贷持仓","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4514":"搜索引擎","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0861579265.USD":"联博低波幅策略股票基金A","BK4566":"资本集团","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU0109392836.USD":"富兰克林科技股A","LU0786609619.USD":"高盛全球千禧一代股票组合Acc"},"source_url":"https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2430736880","content_text":"Google has spent the past year dealing with two of the biggest threats in its 25-year history: the rise of generative AI and the growing drumbeat of regulation. AI, in particular, has shaken the company to its core: it’s made big search changes, realigned the Search, Android, and hardware teams around AI, and launched its own Gemini AI model to capitalize on the opportunity.Google execs cut projects and laid off employees to refocus, and yesterday, it announced its first-ever dividend and a $70 billion share buyback alongside its Q1 2024 earnings.Investors, at least, are eating it up: Google parent company Alphabet has finally officially hit and maintained a $2 trillion market cap for a whole day of trading after briefly touching $2 trillion in November 2021. Google is the fourth most valuable public company in the world, behind Nvidia ($2.2 trillion), Apple ($2.6 trillion), and Microsoft ($3.0 trillion). Amazon is currently at $1.8 trillion, and Meta is at $1.1 trillion.Unlike Meta, whose stock price fell 10 percent after Mark Zuckerberg said it would take years to make money in “massive” bets on generative AI, Google said yesterday that it’s already finding some small ways to sell it — for example, it’s helping advertisers target people with AI in its Performance Max tool and that those advertisers are “63 percent more likely to publish a campaign with good or excellent ad strength.”The company also says Discover Financial is rolling out AI tools to nearly 10,000 call center agents and that Ikea is seeing an increase in one form of revenue from “value-based bidding solutions.” And while it’s not yet talking about monetizing AI answers in Google Search, CEO Sundar Pichai said, “...we are very confident we can manage the cost of how to serve these queries.”For now, Google says it doesn’t want to disrupt search too much: “We’re being measured in how we do this, focusing on areas where Gen AI can improve the search experience while also prioritizing traffic to websites and merchants,” said Pichai.Google’s existing businesses seem to be doing just fine, too: the company made $23.7 billion in profit on $80.5 billion in revenue, according to the Q1 2024 earnings report it released yesterday. Not only is that 15 percent more revenue year over year — it’s 14 percent more profit than it made during the holiday quarter when search and ad revenue were both a bit higher.And while Google may have cut a thousand-plus employees to help boost those profits, it seems layoffs may have slowed or paused. We reported last quarter that Google spent $700 million on layoffs in January alone, and yet, the new Q1 report shows Google only spent $716 million on “severance and related charges” across January, February, and March.Q1 search and advertising revenue were each up 14 percent year over year, YouTube ads were up nearly 21 percent, and “subscriptions, platforms, and devices” were up 18 percent year over year — mostly due to premium YouTube subscriptions, said Google chief business officer Philipp Schindler (so not necessarily Pixel 8 sales).Google said it’s improving its ability to challenge TikTok and Instagram Reels, too, with Schindler talking about how 50 percent more creators are uploading YouTube Shorts shortform videos and how the monetization rate of Shorts has increased 12 percent over the last quarter alone.Google will host its developer conference, Google I/O, on May 14th.","news_type":1,"symbols_score_info":{"GOOG":1,"GOOGL":1}},"isVote":1,"tweetType":1,"viewCount":336,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":299762382983216,"gmtCreate":1714203594557,"gmtModify":1714207180091,"author":{"id":"3575400901791656","authorId":"3575400901791656","name":"n123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575400901791656","authorIdStr":"3575400901791656"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/299762382983216","repostId":"2430736880","repostType":2,"repost":{"id":"2430736880","kind":"highlight","pubTimestamp":1714177670,"share":"https://ttm.financial/m/news/2430736880?lang=en_US&edition=fundamental","pubTime":"2024-04-27 08:27","market":"us","language":"en","title":"Google Is Officially a $2 Trillion Company","url":"https://stock-news.laohu8.com/highlight/detail?id=2430736880","media":"The Verge","summary":"Google has spent the past year dealing with two of the biggest threats in its 25-year history: the rise of generative AI and the growing drumbeat of regulation. AI, in particular, has shaken the compa","content":"<div>\n<p>Google has spent the past year dealing with two of the biggest threats in its 25-year history: the rise of generative AI and the growing drumbeat of regulation. AI, in particular, has shaken the ...</p>\n\n<a href=\"https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue\">Source Link</a>\n\n</div>\n","source":"theverge_highlight","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>Google Is Officially a $2 Trillion Company</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\">\nGoogle Is Officially a $2 Trillion Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-27 08:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue><strong>The Verge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Google has spent the past year dealing with two of the biggest threats in its 25-year history: the rise of generative AI and the growing drumbeat of regulation. AI, in particular, has shaken the ...</p>\n\n<a href=\"https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4538":"云计算","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","BK4550":"红杉资本持仓","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0557290698.USD":"施罗德环球可持续增长基金","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0444971666.USD":"天利全球科技基金","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","GOOG":"谷歌","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0072462426.USD":"贝莱德全球配置 A2","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","LU0149725797.USD":"汇丰美国股市经济规模基金","GOOGL":"谷歌A","BK4553":"喜马拉雅资本持仓","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2","BK4534":"瑞士信贷持仓","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4514":"搜索引擎","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0861579265.USD":"联博低波幅策略股票基金A","BK4566":"资本集团","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU0109392836.USD":"富兰克林科技股A","LU0786609619.USD":"高盛全球千禧一代股票组合Acc"},"source_url":"https://www.theverge.com/24140489/google-alphabet-q1-2024-earnings-revenue","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2430736880","content_text":"Google has spent the past year dealing with two of the biggest threats in its 25-year history: the rise of generative AI and the growing drumbeat of regulation. AI, in particular, has shaken the company to its core: it’s made big search changes, realigned the Search, Android, and hardware teams around AI, and launched its own Gemini AI model to capitalize on the opportunity.Google execs cut projects and laid off employees to refocus, and yesterday, it announced its first-ever dividend and a $70 billion share buyback alongside its Q1 2024 earnings.Investors, at least, are eating it up: Google parent company Alphabet has finally officially hit and maintained a $2 trillion market cap for a whole day of trading after briefly touching $2 trillion in November 2021. Google is the fourth most valuable public company in the world, behind Nvidia ($2.2 trillion), Apple ($2.6 trillion), and Microsoft ($3.0 trillion). Amazon is currently at $1.8 trillion, and Meta is at $1.1 trillion.Unlike Meta, whose stock price fell 10 percent after Mark Zuckerberg said it would take years to make money in “massive” bets on generative AI, Google said yesterday that it’s already finding some small ways to sell it — for example, it’s helping advertisers target people with AI in its Performance Max tool and that those advertisers are “63 percent more likely to publish a campaign with good or excellent ad strength.”The company also says Discover Financial is rolling out AI tools to nearly 10,000 call center agents and that Ikea is seeing an increase in one form of revenue from “value-based bidding solutions.” And while it’s not yet talking about monetizing AI answers in Google Search, CEO Sundar Pichai said, “...we are very confident we can manage the cost of how to serve these queries.”For now, Google says it doesn’t want to disrupt search too much: “We’re being measured in how we do this, focusing on areas where Gen AI can improve the search experience while also prioritizing traffic to websites and merchants,” said Pichai.Google’s existing businesses seem to be doing just fine, too: the company made $23.7 billion in profit on $80.5 billion in revenue, according to the Q1 2024 earnings report it released yesterday. Not only is that 15 percent more revenue year over year — it’s 14 percent more profit than it made during the holiday quarter when search and ad revenue were both a bit higher.And while Google may have cut a thousand-plus employees to help boost those profits, it seems layoffs may have slowed or paused. We reported last quarter that Google spent $700 million on layoffs in January alone, and yet, the new Q1 report shows Google only spent $716 million on “severance and related charges” across January, February, and March.Q1 search and advertising revenue were each up 14 percent year over year, YouTube ads were up nearly 21 percent, and “subscriptions, platforms, and devices” were up 18 percent year over year — mostly due to premium YouTube subscriptions, said Google chief business officer Philipp Schindler (so not necessarily Pixel 8 sales).Google said it’s improving its ability to challenge TikTok and Instagram Reels, too, with Schindler talking about how 50 percent more creators are uploading YouTube Shorts shortform videos and how the monetization rate of Shorts has increased 12 percent over the last quarter alone.Google will host its developer conference, Google I/O, on May 14th.","news_type":1,"symbols_score_info":{"GOOG":1,"GOOGL":1}},"isVote":1,"tweetType":1,"viewCount":336,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":538253404815776,"gmtCreate":1772431185617,"gmtModify":1772431841372,"author":{"id":"3575400901791656","authorId":"3575400901791656","name":"n123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575400901791656","authorIdStr":"3575400901791656"},"themes":[],"title":"","htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/538253404815776","repostId":"2616849413","repostType":2,"repost":{"id":"2616849413","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1772427600,"share":"https://ttm.financial/m/news/2616849413?lang=en_US&edition=fundamental","pubTime":"2026-03-02 13:00","market":"us","language":"en","title":"Berkshire Hathaway’s CEO Suggests These 4 Companies Are Forever Stocks—and 2 That Might Not Be","url":"https://stock-news.laohu8.com/highlight/detail?id=2616849413","media":"Dow Jones","summary":"Charlie Munger ran the equity portfolio now worth about $500 million at Daily Journal, a public legal-services company, for decades—and the company essentially decided to leave it alone after...","content":"<html><head></head><body><p style=\"text-align: start;\">Charlie Munger ran the equity portfolio now worth about $500 million at Daily Journal, a public legal-services company, for decades—and the company essentially decided to leave it alone after Munger’s death in late 2023.</p><p><a href=\"https://laohu8.com/S/BRK.B\">Berkshire Hathaway</a> may be doing the same thing with most of its roughly $300 billion equity portfolio after Warren Buffett stepped down from the CEO role at the end of 2025. Munger was Berkshire’s vice chairman and a longtime business partner of Buffett, in addition to chairing Daily Journal for decades.</p><p>In his inaugural shareholder letter released Saturday morning, Berkshire CEO Greg Abel identified four large Berkshire equity investments— <a href=\"https://laohu8.com/S/AAPL\">Apple</a>, <a href=\"https://laohu8.com/S/AXP\">American Express</a>, <a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>, and <a href=\"https://laohu8.com/S/MCO\">Moody’s</a> —and suggested they are forever stocks, or close to it.</p><p>Referring to the four companies, Abel wrote they are businesses “we understand well, have a high regard for their leaders, and expect will compound over decades. This concentrated approach will continue, with limited activity in these holdings, though we may significantly adjust a holding if we see fundamental changes in its long-term economic prospects.”</p><p>These stocks make up more than half of Berkshire’s equity portfolio, and Abel put Berkshire’s stakes in five Japanese trading companies worth $35 billion in the same bucket. Together, these nine stocks comprise two-thirds of the portfolio.</p><p style=\"text-align: start;\">Abel added that Berkshire had “meaningful positions in a small number of other companies” where “capital allocation has been more dynamic” and that they could become part of Berkshire’s “core holdings.”</p><p style=\"text-align: start;\">It’s notable that two of Berkshire’s top five equity investments, Bank of America and Chevron, didn’t make that core holdings list. Berkshire has cut its holding in Bank of America roughly in half to 517 million shares, worth about $28 billion, in the past 18 months. The Chevron stake totals about $20 billion.</p><p>Berkshire has held its Coke and American Express stakes for 40 years or more, and its Moody’s stake for more than 20 years. Those are widely viewed as forever stocks by Berkshire watchers, due in part to a superlow cost basis. Berkshire paid an average of $3 a share for Coke in the late 1980s, compared with the stock’s $81 close, a record, on Friday.</p><p style=\"text-align: start;\">The Apple stake is about a decade old. Buffett has cut it by about 80% from its peak a few years ago to 227 million shares at year-end 2025.</p><p style=\"text-align: start;\">Abel’s statement suggests that the Apple stake won’t be reduced further. Berkshire’s cost basis in its Apple stake is about $27 a share, about a tenth of the current share price of $264. Berkshire’s original cost basis on its stake of one billion shares was around $35 a share, but the company appears to have sold higher-cost-basis stock to reduce its big tax bill from its Apple sales, mostly in 2024.</p><p style=\"text-align: start;\">The day-to-day management of the Berkshire equity portfolio remains unclear based on Abel’s comments in the letter.</p><p style=\"text-align: start;\">Abel wrote that “responsibility ultimately rests with me as CEO.” Abel, however, has no experience as a portfolio manager, and has a full plate running Berkshire’s 50-plus subsidiaries. Buffett has said that lack of formal investment experience doesn’t matter, arguing that if a person can evaluate businesses as well as Abel can, he can pick stocks.</p><p style=\"text-align: start;\">Abel wrote that Buffett would be in the office five days a week and “be available” to consult on capital allocation, including equity investments.</p><p>Ted Weschler, who is about 64, has been investment manager at Berkshire since 2012. He and Todd Combs, who left Berkshire in December for an investment position at JPMorgan Chase, had each run an estimated 5% of the equity portfolio, with Buffett handling the rest.</p><p style=\"text-align: start;\">It had been expected that Weschler would play a much greater role with the portfolio after Buffett’s retirement as CEO. But Abel wrote that Weschler would manage 6% of the investments, including a part of what Combs had run—not much changed from what he ran before.</p><p style=\"text-align: start;\">This is a different setup than what Berkshire stated when it hired Weschler in 2011. “After Mr. Buffett no longer serves as CEO, Todd and Ted—possibly aided by one additional manager—will have responsibility for the entire equity and debt portfolio of Berkshire, subject to overall direction by the then-CEO and Board of Directors,” according to the 2011 news release.</p><p style=\"text-align: start;\">Abel wrote in his letter that “equity investments are fundamental to our capital allocation activities.” But it’s not clear who will be making big stock-picking decisions. Some Berkshire watchers think that Abel will de-emphasize equity investing as CEO.</p><p style=\"text-align: start;\">That remains to be seen, but the lack of a day-to-day portfolio manager responsible for the entire portfolio—and Abel’s suggestion about forever stocks—suggest that new equity investments may not be a big future source of value creation at Berkshire.</p><p>That would be notable, since Buffett built Berkshire in its early decades from successful stock investments.</p></body></html>","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>Berkshire Hathaway’s CEO Suggests These 4 Companies Are Forever Stocks—and 2 That Might Not Be</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\">\nBerkshire Hathaway’s CEO Suggests These 4 Companies Are Forever Stocks—and 2 That Might Not Be\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-02 13:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: start;\">Charlie Munger ran the equity portfolio now worth about $500 million at Daily Journal, a public legal-services company, for decades—and the company essentially decided to leave it alone after Munger’s death in late 2023.</p><p><a href=\"https://laohu8.com/S/BRK.B\">Berkshire Hathaway</a> may be doing the same thing with most of its roughly $300 billion equity portfolio after Warren Buffett stepped down from the CEO role at the end of 2025. Munger was Berkshire’s vice chairman and a longtime business partner of Buffett, in addition to chairing Daily Journal for decades.</p><p>In his inaugural shareholder letter released Saturday morning, Berkshire CEO Greg Abel identified four large Berkshire equity investments— <a href=\"https://laohu8.com/S/AAPL\">Apple</a>, <a href=\"https://laohu8.com/S/AXP\">American Express</a>, <a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>, and <a href=\"https://laohu8.com/S/MCO\">Moody’s</a> —and suggested they are forever stocks, or close to it.</p><p>Referring to the four companies, Abel wrote they are businesses “we understand well, have a high regard for their leaders, and expect will compound over decades. This concentrated approach will continue, with limited activity in these holdings, though we may significantly adjust a holding if we see fundamental changes in its long-term economic prospects.”</p><p>These stocks make up more than half of Berkshire’s equity portfolio, and Abel put Berkshire’s stakes in five Japanese trading companies worth $35 billion in the same bucket. Together, these nine stocks comprise two-thirds of the portfolio.</p><p style=\"text-align: start;\">Abel added that Berkshire had “meaningful positions in a small number of other companies” where “capital allocation has been more dynamic” and that they could become part of Berkshire’s “core holdings.”</p><p style=\"text-align: start;\">It’s notable that two of Berkshire’s top five equity investments, Bank of America and Chevron, didn’t make that core holdings list. Berkshire has cut its holding in Bank of America roughly in half to 517 million shares, worth about $28 billion, in the past 18 months. The Chevron stake totals about $20 billion.</p><p>Berkshire has held its Coke and American Express stakes for 40 years or more, and its Moody’s stake for more than 20 years. Those are widely viewed as forever stocks by Berkshire watchers, due in part to a superlow cost basis. Berkshire paid an average of $3 a share for Coke in the late 1980s, compared with the stock’s $81 close, a record, on Friday.</p><p style=\"text-align: start;\">The Apple stake is about a decade old. Buffett has cut it by about 80% from its peak a few years ago to 227 million shares at year-end 2025.</p><p style=\"text-align: start;\">Abel’s statement suggests that the Apple stake won’t be reduced further. Berkshire’s cost basis in its Apple stake is about $27 a share, about a tenth of the current share price of $264. Berkshire’s original cost basis on its stake of one billion shares was around $35 a share, but the company appears to have sold higher-cost-basis stock to reduce its big tax bill from its Apple sales, mostly in 2024.</p><p style=\"text-align: start;\">The day-to-day management of the Berkshire equity portfolio remains unclear based on Abel’s comments in the letter.</p><p style=\"text-align: start;\">Abel wrote that “responsibility ultimately rests with me as CEO.” Abel, however, has no experience as a portfolio manager, and has a full plate running Berkshire’s 50-plus subsidiaries. Buffett has said that lack of formal investment experience doesn’t matter, arguing that if a person can evaluate businesses as well as Abel can, he can pick stocks.</p><p style=\"text-align: start;\">Abel wrote that Buffett would be in the office five days a week and “be available” to consult on capital allocation, including equity investments.</p><p>Ted Weschler, who is about 64, has been investment manager at Berkshire since 2012. He and Todd Combs, who left Berkshire in December for an investment position at JPMorgan Chase, had each run an estimated 5% of the equity portfolio, with Buffett handling the rest.</p><p style=\"text-align: start;\">It had been expected that Weschler would play a much greater role with the portfolio after Buffett’s retirement as CEO. But Abel wrote that Weschler would manage 6% of the investments, including a part of what Combs had run—not much changed from what he ran before.</p><p style=\"text-align: start;\">This is a different setup than what Berkshire stated when it hired Weschler in 2011. “After Mr. Buffett no longer serves as CEO, Todd and Ted—possibly aided by one additional manager—will have responsibility for the entire equity and debt portfolio of Berkshire, subject to overall direction by the then-CEO and Board of Directors,” according to the 2011 news release.</p><p style=\"text-align: start;\">Abel wrote in his letter that “equity investments are fundamental to our capital allocation activities.” But it’s not clear who will be making big stock-picking decisions. Some Berkshire watchers think that Abel will de-emphasize equity investing as CEO.</p><p style=\"text-align: start;\">That remains to be seen, but the lack of a day-to-day portfolio manager responsible for the entire portfolio—and Abel’s suggestion about forever stocks—suggest that new equity investments may not be a big future source of value creation at Berkshire.</p><p>That would be notable, since Buffett built Berkshire in its early decades from successful stock investments.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1221951046.USD":"NORDEA 1 STABLE RETURN \"HM\" (USDHDG) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU1221951129.SGD":"NORDEA 1 STABLE RETURN \"HM\" (SGDHDG) INC","LU2506951875.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) ACC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU2506952097.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU2506951958.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) INC","LU1196500208.SGD":"NORDEA STABLE RETURN \"HB\" (SGDHDG) ACC","LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU1121112475.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USDHDG) ACC","LU2506952170.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) INC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU1670711123.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) INC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","LU0823417653.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) ACC","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","IE00BDGV0183.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) INC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","BK4504":"桥水持仓","AXP":"美国运通","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4112":"金融交易所和数据","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU1032466523.USD":"高盛全球多资产收益组合Acc","LU1043141396.HKD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BRK.A":"伯克希尔","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU1032955483.USD":"NORDEA 1 STABLE RETURN \"HB\" (USDHDG) ACC","BRK.B":"伯克希尔B","LU1043141123.HKD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) INC 2","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","MCO":"穆迪","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU2097829019.USD":"AZ EQUITY - BORLETTI GLOBAL LIFESTYLE \"AI\" (USD) ACC","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU0994945656.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USD) INC 2","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","BK4610":"咖啡茶饮","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","BK4176":"多领域控股","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE00BGHQF631.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","IE00B3PB1722.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) INC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","SG9999001077.SGD":"United International Growth Fund SGD","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","IE00B42XCP33.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) INC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU0426417589.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USD) INC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","BK4177":"软饮料","BRKC":"YieldMax BRK.B Option Income ETF","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","AAPL":"苹果","SG9999011175.SGD":"Nikko AM Global Dividend Equity Dis SGD-H","BRKD":"Direxion Daily BRKB Bear 1X Shares","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","BRKU":"2倍做多BRKB ETF-Direxion","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","BRKW":"Roundhill BRKB WeeklyPay™ ETF","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4532":"文艺复兴科技持仓","BK4581":"高盛持仓","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","LU1732800096.USD":"摩根大通环球收益基金A (irc)","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4534":"瑞士信贷持仓","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","KO":"可口可乐","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","SG9999014559.SGD":"United Income Focus Trust Dis SGD","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU2279689827.SGD":"JPMorgan Investment Funds - Global Income Sustainable A (mth) SGD-H","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0426412945.USD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (USD) ACC","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","BK4548":"巴美列捷福持仓","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0251142724.SGD":"Fidelity America A-SGD","IE00BVYPNW00.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) ACC","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU0823417737.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC","BK4585":"ETF&股票定投概念","LU0950375773.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC A","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","SG9999002232.USD":"Allianz Global High Payout USD","LU0971096721.USD":"富达环球金融服务 A","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","SG9999002224.SGD":"Allianz Global High Payout SGD","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","BK4559":"巴菲特持仓","SG9999014542.SGD":"United Income Focus Trust Acc SGD","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","BK4588":"碎股","BK4550":"红杉资本持仓","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2616849413","content_text":"Charlie Munger ran the equity portfolio now worth about $500 million at Daily Journal, a public legal-services company, for decades—and the company essentially decided to leave it alone after Munger’s death in late 2023.Berkshire Hathaway may be doing the same thing with most of its roughly $300 billion equity portfolio after Warren Buffett stepped down from the CEO role at the end of 2025. Munger was Berkshire’s vice chairman and a longtime business partner of Buffett, in addition to chairing Daily Journal for decades.In his inaugural shareholder letter released Saturday morning, Berkshire CEO Greg Abel identified four large Berkshire equity investments— Apple, American Express, Coca-Cola, and Moody’s —and suggested they are forever stocks, or close to it.Referring to the four companies, Abel wrote they are businesses “we understand well, have a high regard for their leaders, and expect will compound over decades. This concentrated approach will continue, with limited activity in these holdings, though we may significantly adjust a holding if we see fundamental changes in its long-term economic prospects.”These stocks make up more than half of Berkshire’s equity portfolio, and Abel put Berkshire’s stakes in five Japanese trading companies worth $35 billion in the same bucket. Together, these nine stocks comprise two-thirds of the portfolio.Abel added that Berkshire had “meaningful positions in a small number of other companies” where “capital allocation has been more dynamic” and that they could become part of Berkshire’s “core holdings.”It’s notable that two of Berkshire’s top five equity investments, Bank of America and Chevron, didn’t make that core holdings list. Berkshire has cut its holding in Bank of America roughly in half to 517 million shares, worth about $28 billion, in the past 18 months. The Chevron stake totals about $20 billion.Berkshire has held its Coke and American Express stakes for 40 years or more, and its Moody’s stake for more than 20 years. Those are widely viewed as forever stocks by Berkshire watchers, due in part to a superlow cost basis. Berkshire paid an average of $3 a share for Coke in the late 1980s, compared with the stock’s $81 close, a record, on Friday.The Apple stake is about a decade old. Buffett has cut it by about 80% from its peak a few years ago to 227 million shares at year-end 2025.Abel’s statement suggests that the Apple stake won’t be reduced further. Berkshire’s cost basis in its Apple stake is about $27 a share, about a tenth of the current share price of $264. Berkshire’s original cost basis on its stake of one billion shares was around $35 a share, but the company appears to have sold higher-cost-basis stock to reduce its big tax bill from its Apple sales, mostly in 2024.The day-to-day management of the Berkshire equity portfolio remains unclear based on Abel’s comments in the letter.Abel wrote that “responsibility ultimately rests with me as CEO.” Abel, however, has no experience as a portfolio manager, and has a full plate running Berkshire’s 50-plus subsidiaries. Buffett has said that lack of formal investment experience doesn’t matter, arguing that if a person can evaluate businesses as well as Abel can, he can pick stocks.Abel wrote that Buffett would be in the office five days a week and “be available” to consult on capital allocation, including equity investments.Ted Weschler, who is about 64, has been investment manager at Berkshire since 2012. He and Todd Combs, who left Berkshire in December for an investment position at JPMorgan Chase, had each run an estimated 5% of the equity portfolio, with Buffett handling the rest.It had been expected that Weschler would play a much greater role with the portfolio after Buffett’s retirement as CEO. But Abel wrote that Weschler would manage 6% of the investments, including a part of what Combs had run—not much changed from what he ran before.This is a different setup than what Berkshire stated when it hired Weschler in 2011. “After Mr. Buffett no longer serves as CEO, Todd and Ted—possibly aided by one additional manager—will have responsibility for the entire equity and debt portfolio of Berkshire, subject to overall direction by the then-CEO and Board of Directors,” according to the 2011 news release.Abel wrote in his letter that “equity investments are fundamental to our capital allocation activities.” But it’s not clear who will be making big stock-picking decisions. Some Berkshire watchers think that Abel will de-emphasize equity investing as CEO.That remains to be seen, but the lack of a day-to-day portfolio manager responsible for the entire portfolio—and Abel’s suggestion about forever stocks—suggest that new equity investments may not be a big future source of value creation at Berkshire.That would be notable, since Buffett built Berkshire in its early decades from successful stock investments.","news_type":1,"symbols_score_info":{"BRKU":0.6,"BRK.B":1.96,"BRK.A":2,"BRKC":0.6,"MCO":2,"BRKD":0.6,"AXP":2,"KO":2,"AAPL":1.88,"BRKW":0.6}},"isVote":1,"tweetType":1,"viewCount":15,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}