巴菲特迄今最成功的六笔投资
1. 中石油(PetroChina) 年平均复合回报率:52% 总回报率:720% 持有期:5年 谈到巴菲特,人们总会想到他的投资箴言——“买你看得懂的公司”。此外,大家都知道他一直唱多美国。在去年致伯克希尔哈撒韦公司股东的公开信中,巴菲特写道:“美国最好的日子还在后面。”但是,他的一些最成功的投资,尤其是最近的成功投资都在中国。在2002年和2003年,伯克希尔哈撒韦公司累计斥资4.88亿美元买入中石油1.3%的股权。有人曾一度质疑这一投资,因为中石油的油田开发已是强弩之末,而且它拥有40万名员工,成本高居不下。当时,中石油市值有370亿美元。而巴菲特估计其价值1000亿美元。巴菲特的这一估值实际上算是偏低了。由于油价上涨和新油田的发现,中国石油股价大幅上扬。到伯克希尔哈撒韦公司在2007年出售这部分股权时,中国石油的市值已高达2750亿美元,这让伯克希尔撒韦公司大赚36亿美元。 |
1. PetroChina Annual average compounded return: 52% Total return: 720% Years held: 5 Buffett is known for his "buy what you know" investment mantra, and his consistent praise for America. In last year's annual letter to Berkshire shareholders, Buffett wrote, "America's best days lie ahead." Nonetheless, some of his greatest investments, particularly his recent ones, have been in China. In 2002 and 2003, Berkshire bought 1.3% of China's dominant oil company PetroChinaPTR 1.44% for $488 million. Some questioned the investment. PetroChina's oil fields looked tapped out, and the company, with 400,000 employees, was loaded down with costs. At the time, PetroChina had a market cap of $37 billion. Buffett suspected it was worth $100 billion. Buffett was low. Rising oil prices and new discoveries caused PetroChina's shares to soar. By the time Berkshire sold in 2007, PetroChina's market cap had reached $275 billion, and Berkshire reaped a $3.6 billion gain. |