La podéis encontrar aquí (pestaña 2022)
Shareholder Letters (berkshirehathaway.com)
La carta comenta cosas que los inversiones que hemos leído ya sabemos de Warren Buffet solo postearé lo que resaltaría de esta carta.
Recompraron un 1,2%, lo van haciendo poco a poco y al cabo de los años es mucho dinero por los inversiones
1) At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares.
Este mensaje creo que va para Biden (presidente de los estados unidos), que quiere que paguen tasas las recompras.
2) When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).
En la carta pone muchas de la frases de él y de Charlie Munger:
· The world is full of foolish gamblers, and they will not do as well as the patient investor.
· If you don’t see the world the way it is, it’s like judging something through a distorted lens.
· All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.
· If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.
· Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.
· You can learn a lot from dead people. Read of the deceased you admire and detest.
· Don’t bail away in a sinking boat if you can swim to one that is seaworthy.
· A great company keeps working after you are not; a mediocre company won’t do that.
· Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.
· Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.
· There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.
· You don’t, however, need to own a lot of things in order to get rich.
· You have to keep learning if you want to become a great investor. When the world changes, you must change.
· Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.
· Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”
Lo que más me ha gustado de la carta y que veo que no hay mucha repercusión. Que el nuevo CEO tendrá significativamente propias acciones en BRK
3) Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.
Para mí la carta expone lo de siempre de Warren Buffet nada nuevo o sea tendrá todo mi apoyo, hay mucho cash para hacer inversiones pero sin prisa, hoy en día tengo el 75% de mi dinero en bolsa puesto en BRK, máxima confianza y a continuar.
Lo único que destacaría de la carta, es lo del nuevo CEO de que tendrá que poseer propias acciones en BRK, en la AGM del año pasado se intuyo que era Abel (actualmente es el CEO de una de las ramas), pero Liu suena a veces también. Lo único que puedo hacer es informarme quien podría ser el sucesor y los hechos son los siguientes:
Abel comprando a mansalva (creo que terminará siendo Abel) ; compró el 29 Setiembre de 2022
· 66,8 Mio $
· BRK.A: 407.000 € equivale a BRK.B 274 $
Link de las capturas:
Berkshire Hathaway Inc (BRK-B) - Insider-Handel | insider screener
Abel parace un Bernard Arnault ;)
Espero que os haya gustado
Un saludo,
Muy chulo el post!
Que pena que, como dijiste, la gente solo usa a Buffett por sus frases pero luego no aplican nada o poco de lo que dice/hace.
Están más concentrados en el chicharro de turno que les hará ricos rápido. pensando en comprar barato para vender caro.
Casi siempre lo mejor es no hacer nada. Sentarse y esperar como un estoico...https://t.me/estoicos