--- title: "想要击败标普 500 指数吗？历史表明要避开这只沃伦·巴菲特最看好的股票" description: "沃伦·巴菲特最看好的股票之一可口可乐，在过去五年和十年中表现不佳，未能跑赢标普 500 指数。其缺乏增长潜力和高估值使其对于寻求超额回报的投资者不太具吸引力。然而，可口可乐仍然是一家高质量的公司，拥有强大的品牌、稳定的利润和持续的股息。这可能吸引那些优先考虑 passsive income 的投资者" type: "news" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/204394557.md" published_at: "2024-05-19T09:13:17.000Z" --- # 想要击败标普 500 指数吗？历史表明要避开这只沃伦·巴菲特最看好的股票 > 沃伦·巴菲特最看好的股票之一可口可乐，在过去五年和十年中表现不佳，未能跑赢标普 500 指数。其缺乏增长潜力和高估值使其对于寻求超额回报的投资者不太具吸引力。然而，可口可乐仍然是一家高质量的公司，拥有强大的品牌、稳定的利润和持续的股息。这可能吸引那些优先考虑 passsive income 的投资者 It's hard to argue with the **S&P 500**'s (^GSPC 0.12%) historical performance. In the past 20 years, the broad index has produced a total return of 610%, translating to an annual average of 10.3%. If you're someone who likes to pick individual stocks, then I'd assume the goal is to try to outperform the S&P 500 over the long term. A good place to look for investment ideas might be **Berkshire Hathaway**'s portfolio. The Oracle of Omaha's conglomerate owns dozens of stocks. But to be clear, not all of them should be purchased, especially if you want to beat the S&P 500. In fact, history says you should avoid this top Buffett stock if outperformance is the ultimate objective. ## Not quenching growth investors' thirst Investors looking to score huge returns should not buy shares of **Coca-Cola** (KO -0.46%). The global beverage giant currently makes up 6.8% of Berkshire's portfolio, behind only **Apple**, **Bank of America**, and **American Express**. In the past five- and 10-year periods, the stock produced a total return, including dividends, that has significantly lagged the S&P 500. That track record points to the fact that Coca-Cola is a mature business that operates in an industry that won't register growth that much better than the rise of global gross domestic product (GDP). That's because non-alcoholic ready-to-drink beverages aren't being consumed in larger quantities on a per-person basis, especially in the U.S. And Coca-Cola already sells its products in more than 200 countries and territories, so there isn't really more room to further penetrate new markets. Coca-Cola's revenue in 2023 was actually slightly lower than what the business reported 10 years before in 2013. On the bottom line, net income rose at a 2.2% annualized pace, thanks to the help of some operating leverage. It's no wonder the shares have been a notable underperformer. If sales and earnings increased at a higher clip, I'm almost positive the stock would have done much better. The valuation also looks expensive. Trading at a price-to-earnings ratio of 25.3, the stock goes for a premium relative to the S&P 500. That seems off to me, particularly when you realize that you'd have been better off just investing in the broader index in recent times. ## A quality business Coca-Cola might not have the potential to put up strong investment returns going forward. But to be clear, the company is still a high-quality enterprise for three very obvious reasons. I'm sure Buffett is familiar with these points. The business possesses one of the world's most powerful brands. This not only results in customer loyalty -- it helps management flex its pricing power. Even better, the brand differentiates Coca-Cola from the large number of rival products on the market. Unlike many companies, especially in the technology sector, Coca-Cola operates in an industry that doesn't invite much in the way of disruption and innovation. And that's a good thing. It means there is a minimal chance Coca-Cola will become irrelevant anytime soon. In other words, the business has durability. It will almost undoubtedly be around 50 years from now. I'll also point to the company's ability to consistently produce operating income and free cash flow, regardless of the economic cycle. Steady profits have helped Coca-Cola raise its dividend in 62 straight years and counting. So, while Coca-Cola might not satisfy investors looking to generate outsized returns, perhaps the stock catches the attention of those who prioritize having a passive income stream. ### Related Stocks - [BRK.A.US - 伯克希尔哈撒韦-A](https://longbridge.com/zh-CN/quote/BRK.A.US.md) - [KO.US - 可口可乐](https://longbridge.com/zh-CN/quote/KO.US.md) - [BRK.B.US - 伯克希尔哈撒韦-B](https://longbridge.com/zh-CN/quote/BRK.B.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Berkshire Hathaway Bought New York Times Stock in Q4. Should You Add NYT to Your Portfolio Too? | Berkshire Hathaway Bought New York Times Stock in Q4. Should You Add NYT to Your Portfolio Too? | [Link](https://longbridge.com/zh-CN/news/276265837.md) | | Liberty Media Corporation - Liberty Live Series C (NASDAQ:LLYVK) Major Shareholder Berkshire Hathaway Inc Sells 59,411 Shares | Berkshire Hathaway Inc, a major shareholder of Liberty Media Corporation - Liberty Live Series C (NASDAQ:LLYVK), sold 59 | [Link](https://longbridge.com/zh-CN/news/276179913.md) | | Liberty Media Corporation - Liberty Live Series A (NASDAQ:LLYVA) Major Shareholder Berkshire Hathaway Inc Sells 44,100 Shares | Berkshire Hathaway Inc, a major shareholder of Liberty Media Corporation - Liberty Live Series A (NASDAQ:LLYVA), sold 44 | [Link](https://longbridge.com/zh-CN/news/276179925.md) | | Berkshire Hathaway discloses investment in New York Times | Berkshire Hathaway has disclosed a new investment in the New York Times, reentering a sector it left in 2020. The compan | [Link](https://longbridge.com/zh-CN/news/276173033.md) | | Board of Directors of The Coca-Cola Company Elects New Officer and Approves 64th Consecutive Annual Dividend Increase \| KO Stock News | The Coca-Cola Company's Board of Directors has elected a new officer and approved a 4% increase in the quarterly dividen | [Link](https://longbridge.com/zh-CN/news/276369367.md) | --- > **免责声明**：本文内容仅供参考，不构成任何投资建议。