<ul>
<li>一些分析师认为，沃伦·巴菲特最近异常的悲观情绪反映了他对 8 月 1 日开始的美国关税政策影响的 “观望” 态度。</li>
<li>伯克希尔·哈撒韦积累的大量现金被视为巴菲特为任何购买机会保持干粮的方式。</li>
<li>伯克希尔对卡夫亨氏的 37.6 亿美元减记，被一些人视为巴菲特为即将上任的首席执行官格雷格·阿贝尔清理董事会的几个步骤之一。</li>
<li>英伟达让早期投资者致富，但现在出现了一类 “下一个英伟达股票”，可能会更好。点击这里了解更多。</li>
</ul>
<p>当沃伦·巴菲特开始出售 <strong>伯克希尔·哈撒韦（</strong> <strong>NYSE: BRK-B)</strong> 在苹果和美国银行的股份以增加现金时，华尔街注意到了这一点。巴菲特的现金积累以及他罕见地偏离了 “买入并持有” 策略，向全球交易员和投资者发出了悲观的红旗警报。虽然许多人在猜测这位 “奥马哈的先知” 正在计划什么，但沃伦·巴菲特所采取的步骤和已启动的行动可能反映了除了股市之外的其他担忧。</p>
<h2>一大笔现金</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/03/shutterstock-2268556669-huge-licensed-scaled.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1500" height="1000" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/03/shutterstock-2268556669-huge-licensed-scaled.jpg"/></p>
<p>伯克希尔·哈撒韦出售近 70 亿美元的股票，导致其拥有巨额现金储备，以便为未来的机会提供流动性。</p>
<p>巴菲特坐拥约 3440 亿美元的现金和短期国债储备，在 4 月初市场首次下跌及随后反弹时选择了观望。当时特朗普总统首次宣布了互惠关税政策。伯克希尔的第二季度业绩显示，该公司仍然是股票的净卖家，购买了 39 亿美元，但出售了 69.2 亿美元。尽管巴菲特最喜欢的标准普尔 500 指数创下新高，他选择不利用这一重大购买机会让粉丝和追随者感到困惑，但他们仍然忠诚。许多人在等待巴菲特的下一个重大举动的宣布，模仿往往是最终结果。</p>
<h2>对卡夫亨氏的 37.6 亿美元减记</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/04/imageForEntry2-L7r.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1366" height="767" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/04/imageForEntry2-L7r.jpg"/></p>
<p>卡夫亨氏交易是巴菲特少数几次失误之一。</p>
<p>尽管伯克希尔·哈撒韦仍持有卡夫亨氏 27% 的股份，但它最终对这项投资进行了减记，这是对巴菲特少数几次失误之一的长期拖延的举动。减记减少了运营收益（4.3 亿美元），尽管由于 2024 年苹果股票销售的纸面收益，总收益（178.7 亿美元）之间的年比年差异似乎更大。分析师们一直在质疑为何承认损失的时间如此之长。</p>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/01/Follow-Our-500000-AI-Portfolio-3.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="468" height="120" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/01/Follow-Our-500000-AI-Portfolio-3.jpg"/></p>
<h2>铁路挑战</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2019/01/imageForEntry9-10.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1366" height="767" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2019/01/imageForEntry9-10.jpg"/></p>
<p>伯克希尔·哈撒韦的 BNSF 是美国最大的铁路公司。</p>
<p>最近宣布的联合太平洋铁路与诺福克南方铁路之间的合并提案也引发了对伯克希尔·哈撒韦的 BNSF 铁路的竞争担忧。尽管 BNSF 是美国最大的铁路，但竞争对手联合太平洋和诺福克南方取代 BNSF 的前景使一些人建议伯克希尔应该收购东部铁路 CSX。然而，除了来自联邦贸易委员会的潜在反垄断问题外，巴菲特以不愿意购买公司而闻名，除非他能以便宜的价格获得它们。BNSF 的业务表现良好，报告了 19% 的利润增长，而 CSX 的交易价格处于 52 周高点，这对节俭的巴菲特来说是过于昂贵的。</p>
<h2>内部挑战</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2024/12/shutterstock-2447932739-huge-licensed-scaled.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1500" height="1000" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2024/12/shutterstock-2447932739-huge-licensed-scaled.jpg"/></p>
<p>美国关税的威胁导致了数万亿的国际投资承诺。然而，它们对伯克希尔业务的影响仍有待观察。</p>
<p>经济状况、地缘政治事件和关税使伯克希尔·哈撒韦处于脆弱状态。<em>“这些事件的变化速度，包括来自发展中的国际贸易政策和关税的紧张局势，在 2025 年前六个月加速，”<em>10-Q 报告中写道。</em>“我们的运营业务中大多数，甚至所有，可能会有不利后果。”</em></p>
<p>10-Q 还指出，第二季度的税后运营利润较去年下降了 4%，降至 112 亿美元。这是由于伯克希尔的美元债务造成的 8.77 亿美元外汇损失。如果没有这些损失，其运营利润将增长 8%。巴菲特对美国关税对伯克希尔业务的影响感到合理的担忧。这些全资子公司的供应链、制造、运输和其他运营方面的跨国性质，使得完整的估算仍然是一个问号。</p>
<p>此外，苹果和美国银行股票销售的反应给伯克希尔·哈撒韦带来了不确定性，该公司已经看到投资者偏好转向技术、人工智能和其他更具吸引力和短期上涨潜力的行业。因此，这家公司在过去 7 年中有 4 年表现不及巴菲特最喜欢的股票指数。从技术分析的角度来看，伯克希尔股票的 50 日和 200 日移动平均线正在急剧接近 “熊市” 区域。</p>
<h2>继任问题</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/10/imageForEntry45-Y7I.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1369" height="768" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/10/imageForEntry45-Y7I.jpg"/></p>
<p>就像热门 HBO 剧集《继承》一样，伯克希尔的未来在巴菲特接近 90 岁时处于悬而未决的状态，没有指定的首席执行官，直到他选择了格雷格·阿贝尔。</p>
<p>继任问题近年来一直是许多伯克希尔哈撒韦股东关注的焦点。在 90 岁以上，并且合伙人查理·芒格于 2023 年去世后，巴菲特终于在 2025 年 12 月提名副董事长格雷格·阿贝尔接任首席执行官，同时巴菲特继续担任董事长。</p>
<p>一些分析师和财经记者认为，现金储备和清理像卡夫亨氏这样的负担是巴菲特为阿贝尔提供一个干净的起点，以便他能够为伯克希尔股东创造自己的一系列股市和私营公司胜利的方式。</p>
<h2>巴菲特依然保持着他的投资眼光</h2>
<p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2019/06/imageforentry32-mvh.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1366" height="768" original-src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2019/06/imageforentry32-mvh.jpg"/></p>
<p>航空电子和电子设备只是海科公司在航空航天领域提供必要设备的两个方面。</p>
<p>在沃伦·巴菲特正式辞去日常运营和股票选择职务之前，他仍然是一位强大的投资者，证明了他并没有失去投资眼光。就在几个月前，在 5 月 15 日的 SEC 文件中，伯克希尔哈撒韦报告称其拥有佛罗里达州航空航天和电子公司 <strong>Heico Corp (</strong> <strong>NYSE: HEI</strong> <strong>)</strong> 的 1,162,088 股股票。在 5 月，海科的交易价格在 268 美元左右。截止到本文撰写时，价格为 337.56 美元。</p>
<p>伯克希尔哈撒韦可能看起来处于低迷状态，但有一些线索表明其中有其深意。虽然伯克希尔可能没有像英伟达那样在短时间内实现惊人的牛市，但该集团每年仍然保持高度盈利。因此，巴菲特看似的悲观实际上可能隐藏着更为狡猾的未来策略。</p>
<p>沃伦·巴菲特从未显得如此悲观的文章最初出现在 24/7 Wall St.。</p>

伯克希尔哈撒韦-A

伯克希尔哈撒韦-B

南方两倍做多伯克希尔

<p>沃伦·巴菲特最近出售伯克希尔哈撒韦在苹果和美国银行的股份以积累现金，引发了投资者的担忧，显示出看空的前景。分析师认为这反映了对美国关税政策影响的谨慎态度。伯克希尔的现金储备达到约 3440 亿美元，表明其为未来机会做好了准备。此外，对卡夫亨氏的 37.6 亿美元减值突显了巴菲特的罕见失误。该公司面临来自铁路行业的竞争挑战，以及国际贸易政策和关税可能带来的不利影响</p>

<ul>
<li>A number of analysts believe that Warren Buffett’s unusual bearishness of late reflects a “wait and see” attitude about the impact of the US tariff policies that commenced on August 1st.</li>
<li>The large cash horde that Berkshire Hathaway has amassed is viewed as Buffett’s way of keeping powder dry for any buying opportunities.</li>
<li>Berkshire’s $3.76 billion write down of Kraft Heinz, one of Buffett’s rare missteps, is viewed by some as part of several steps in his clearing the board for incoming CEO Greg Abel.</li>
<li>Nvidia made early investors rich, but there is a new class of ‘Next Nvidia Stocks’ that could be even better. Click here to learn more.</li>
</ul>
<div class="lb-trans"><ul>
<li>一些分析师认为，沃伦·巴菲特最近异常的悲观情绪反映了他对 8 月 1 日开始的美国关税政策影响的 “观望” 态度。</li>
<li>伯克希尔·哈撒韦积累的大量现金被视为巴菲特为任何购买机会保持干粮的方式。</li>
<li>伯克希尔对卡夫亨氏的 37.6 亿美元减记，被一些人视为巴菲特为即将上任的首席执行官格雷格·阿贝尔清理董事会的几个步骤之一。</li>
<li>英伟达让早期投资者致富，但现在出现了一类 “下一个英伟达股票”，可能会更好。点击这里了解更多。</li>
</ul>
</div><p>When Warren Buffett began selling off <strong>Berkshire Hathaway’s (</strong> <strong>NYSE: BRK-B)</strong> stakes in Apple and Bank of America to load up on cash, Wall Street took notice. Buffett’s accumulation of cash and his rare departure from his standard “buy and hold” strategy sent bearish red flag alerts to traders and investors around the world. While many are speculating about what the “Oracle of Omaha” is planning, the steps that Warren Buffett has taken and has set in motion may reflect other concerns apart from the stock market.</p>
<div class="lb-trans"><p>当沃伦·巴菲特开始出售 <strong>伯克希尔·哈撒韦（</strong> <strong>NYSE: BRK-B)</strong> 在苹果和美国银行的股份以增加现金时，华尔街注意到了这一点。巴菲特的现金积累以及他罕见地偏离了 “买入并持有” 策略，向全球交易员和投资者发出了悲观的红旗警报。虽然许多人在猜测这位 “奥马哈的先知” 正在计划什么，但沃伦·巴菲特所采取的步骤和已启动的行动可能反映了除了股市之外的其他担忧。</p>
</div><h2>A Mountain of Cash</h2>
<div class="lb-trans"><h2>一大笔现金</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/03/shutterstock-2268556669-huge-licensed-scaled.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2025/03/shutterstock-2268556669-huge-licensed-scaled.jpg"/></p>
<p>Berkshire Hathaway’s sale of nearly $7 billion worth of stocks has resulted in a humungous stock pile of cash to have liquidity for future opportunities.</p>
<div class="lb-trans"><p>伯克希尔·哈撒韦出售近 70 亿美元的股票，导致其拥有巨额现金储备，以便为未来的机会提供流动性。</p>
</div><p>Sitting on a roughly $344 billion cash and short term Treasury bond war chest, Buffett decided to stay on the sidelines during the initial April market drop and subsequent bounce back when President Trump’s reciprocal tariff policies were first announced. Berkshire’s Q2 results showed that the company was still a net seller of stocks, buying $3.9 billion, but selling $6.92 billion. With Buffett’s favorite S&amp;P 500 index making new highs, his decision to refrain from capitalizing on a substantial buying opportunity has left fans and followers puzzled, but still loyal. Many of them are awaiting announcement of the next big Buffett move, with emulation often the end result.</p>
<div class="lb-trans"><p>巴菲特坐拥约 3440 亿美元的现金和短期国债储备，在 4 月初市场首次下跌及随后反弹时选择了观望。当时特朗普总统首次宣布了互惠关税政策。伯克希尔的第二季度业绩显示，该公司仍然是股票的净卖家，购买了 39 亿美元，但出售了 69.2 亿美元。尽管巴菲特最喜欢的标准普尔 500 指数创下新高，他选择不利用这一重大购买机会让粉丝和追随者感到困惑，但他们仍然忠诚。许多人在等待巴菲特的下一个重大举动的宣布，模仿往往是最终结果。</p>
</div><h2>$3.76 Billion Write-Down of Kraft Heinz</h2>
<div class="lb-trans"><h2>对卡夫亨氏的 37.6 亿美元减记</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/04/imageForEntry2-L7r.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2022/04/imageForEntry2-L7r.jpg"/></p>
<p>The Kraft Heinz deal was one of Buffett’s few miscalculations.</p>
<div class="lb-trans"><p>卡夫亨氏交易是巴菲特少数几次失误之一。</p>
</div><p>Although Berkshire Hathaway maintains a 27% stake in Kraft Heinz, it has finally written down the investment, a long overdue move on one of Buffett’s rare miscalculations. The write-down diminished operating earnings ($430 million), although the year-over-year disparity between total earnings ($17.87 billion) seems much larger because of the paper gains from the 2024 Apple stock sales. Analysts have wondered why there was such a long delay in acknowledging the losses.</p>
<div class="lb-trans"><p>尽管伯克希尔·哈撒韦仍持有卡夫亨氏 27% 的股份，但它最终对这项投资进行了减记，这是对巴菲特少数几次失误之一的长期拖延的举动。减记减少了运营收益（4.3 亿美元），尽管由于 2024 年苹果股票销售的纸面收益，总收益（178.7 亿美元）之间的年比年差异似乎更大。分析师们一直在质疑为何承认损失的时间如此之长。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2025/01/Follow-Our-500000-AI-Portfolio-3.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2025/01/Follow-Our-500000-AI-Portfolio-3.jpg"/></p>
<h2>Railroad Challenges</h2>
<div class="lb-trans"><h2>铁路挑战</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2019/01/imageForEntry9-10.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2019/01/imageForEntry9-10.jpg"/></p>
<p>Berkshire Hathaway’s BNSF is the largest railroad in the USA.</p>
<div class="lb-trans"><p>伯克希尔·哈撒韦的 BNSF 是美国最大的铁路公司。</p>
</div><p>A recently announced merger proposal between Union Pacific Railroad and Norfolk Southern Railroad has also created competition concerns for Berkshire Hathaway’s BNSF railroad. Although BNSF is the largest US railroad, the prospect of rivals Union Pacific and Norfolk Southern supplanting BNSF has led some to suggest that Berkshire should acquire Eastern Rail CSX. However, in addition to potential antitrust issues from the FTC, Buffett is notoriously averse to buying companies unless he can get them at a bargain price. BNSF is doing excellent business, with a 19% profit increase reported, and CSX is trading at a 52-week high, which is prohibitively expensive for the thrift-minded Buffett.</p>
<div class="lb-trans"><p>最近宣布的联合太平洋铁路与诺福克南方铁路之间的合并提案也引发了对伯克希尔·哈撒韦的 BNSF 铁路的竞争担忧。尽管 BNSF 是美国最大的铁路，但竞争对手联合太平洋和诺福克南方取代 BNSF 的前景使一些人建议伯克希尔应该收购东部铁路 CSX。然而，除了来自联邦贸易委员会的潜在反垄断问题外，巴菲特以不愿意购买公司而闻名，除非他能以便宜的价格获得它们。BNSF 的业务表现良好，报告了 19% 的利润增长，而 CSX 的交易价格处于 52 周高点，这对节俭的巴菲特来说是过于昂贵的。</p>
</div><h2>Internal Challenges</h2>
<div class="lb-trans"><h2>内部挑战</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2024/12/shutterstock-2447932739-huge-licensed-scaled.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2024/12/shutterstock-2447932739-huge-licensed-scaled.jpg"/></p>
<p>The threat of US tariffs have led to trillions of international investment commitments. However, their impact on Berkshire businesses remains to be seen.</p>
<div class="lb-trans"><p>美国关税的威胁导致了数万亿的国际投资承诺。然而，它们对伯克希尔业务的影响仍有待观察。</p>
</div><p>The state of the economy, geopolitical events and tariffs leaves Berkshire Hathaway vulnerable. “ <em>The pace of changes in these events, including tensions from developing international trade policies and tariffs, accelerated through the first six months of 2025,”</em> the 10-Q report reads. <em>“It is reasonably possible there could be adverse consequences on most, if not all, of our operating businesses</em>.”</p>
<div class="lb-trans"><p>经济状况、地缘政治事件和关税使伯克希尔·哈撒韦处于脆弱状态。<em>“这些事件的变化速度，包括来自发展中的国际贸易政策和关税的紧张局势，在 2025 年前六个月加速，”<em>10-Q 报告中写道。</em>“我们的运营业务中大多数，甚至所有，可能会有不利后果。”</em></p>
</div><p>The 10-Q also noted that after-tax operating profit fell 4% in the second quarter vs. last year to $11.2 billion. This was due to $877 million in foreign exchange losses due to Berkshire’s U.S.-dollar debt. Without that, its operating profit would have risen 8%. Buffett is justifiably concerned about the impact of US tariffs on Berkshire businesses. The multinational nature of many of those wholly owned subsidiaries’ supply chains, manufacturing, shipping, and other aspects of their operations subject to potential tariff impact are such that a complete estimate is still a question mark.</p>
<div class="lb-trans"><p>10-Q 还指出，第二季度的税后运营利润较去年下降了 4%，降至 112 亿美元。这是由于伯克希尔的美元债务造成的 8.77 亿美元外汇损失。如果没有这些损失，其运营利润将增长 8%。巴菲特对美国关税对伯克希尔业务的影响感到合理的担忧。这些全资子公司的供应链、制造、运输和其他运营方面的跨国性质，使得完整的估算仍然是一个问号。</p>
</div><p>Additionally, the reaction from the Apple and Bank of America stock sales added uncertainty to Berkshire Hathaway, which has already seen investor preferences shifting towards technology, AI, and other sectors with more sizzle and short term, upside potential. As such, the company, which habitually leaves the S&amp;P 500 behind in its rear view mirror, has underperformed Buffett’s favorite stock index in the last 4 out of 7 years. From a technical analysis perspective, Berkshire stock’s 50- and 200-day moving averages are drifting precipitously towards “bearish” territory.</p>
<div class="lb-trans"><p>此外，苹果和美国银行股票销售的反应给伯克希尔·哈撒韦带来了不确定性，该公司已经看到投资者偏好转向技术、人工智能和其他更具吸引力和短期上涨潜力的行业。因此，这家公司在过去 7 年中有 4 年表现不及巴菲特最喜欢的股票指数。从技术分析的角度来看，伯克希尔股票的 50 日和 200 日移动平均线正在急剧接近 “熊市” 区域。</p>
</div><h2>Succession</h2>
<div class="lb-trans"><h2>继任问题</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2022/10/imageForEntry45-Y7I.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2022/10/imageForEntry45-Y7I.jpg"/></p>
<p>Much like the hit HBO series, “Succession”, Berkshire’s future was in limbo for years when Buffett approached his 90s with no designated forthcoming CEO, until he chose Greg Abel.</p>
<div class="lb-trans"><p>就像热门 HBO 剧集《继承》一样，伯克希尔的未来在巴菲特接近 90 岁时处于悬而未决的状态，没有指定的首席执行官，直到他选择了格雷格·阿贝尔。</p>
</div><p>The question of succession had been one that concerned many Berkshire Hathaway shareholders in recent years. At over age 90, and with partner Charlie Munger recently passed away in 2023, Buffett finally nominated Vice Chairman Greg Abel to succeed him as CEO in December 2025, while Buffett continues as Chairman.</p>
<div class="lb-trans"><p>继任问题近年来一直是许多伯克希尔哈撒韦股东关注的焦点。在 90 岁以上，并且合伙人查理·芒格于 2023 年去世后，巴菲特终于在 2025 年 12 月提名副董事长格雷格·阿贝尔接任首席执行官，同时巴菲特继续担任董事长。</p>
</div><p>Several analysts and financial journalists think that the cash war chest and clearing of baggage like Kraft Heinz is Buffett’s way of giving Abel a clean slate from which to build his own string of stock market and private company wins for the benefit of Berkshire shareholders.</p>
<div class="lb-trans"><p>一些分析师和财经记者认为，现金储备和清理像卡夫亨氏这样的负担是巴菲特为阿贝尔提供一个干净的起点，以便他能够为伯克希尔股东创造自己的一系列股市和私营公司胜利的方式。</p>
</div><h2>Buffett Still Has His Touch</h2>
<div class="lb-trans"><h2>巴菲特依然保持着他的投资眼光</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://247wallst.com/wp-content/uploads/2019/06/imageforentry32-mvh.jpg" alt="" original-src="https://247wallst.com/wp-content/uploads/2019/06/imageforentry32-mvh.jpg"/></p>
<p>Avionics and electronics are just two areas of the aerospace sector for which Heico Corp. supplies necessary equipment.</p>
<div class="lb-trans"><p>航空电子和电子设备只是海科公司在航空航天领域提供必要设备的两个方面。</p>
</div><p>Until Warren Buffett officially steps down from day-to-day operations and stock picking, he is still a formidable investor that has proven he hasn’t lost his touch. Just a few months ago, in a May 15 SEC filing, Berkshire Hathaway reported it owned 1,162,088 shares of Florida based aerospace and electronics company <strong>Heico Corp (</strong> <strong>NYSE: HEI</strong> <strong>)</strong>. In May, Heico was trading in the $268 region. At the time of this writing, it is at $337.56.</p>
<div class="lb-trans"><p>在沃伦·巴菲特正式辞去日常运营和股票选择职务之前，他仍然是一位强大的投资者，证明了他并没有失去投资眼光。就在几个月前，在 5 月 15 日的 SEC 文件中，伯克希尔哈撒韦报告称其拥有佛罗里达州航空航天和电子公司 <strong>Heico Corp (</strong> <strong>NYSE: HEI</strong> <strong>)</strong> 的 1,162,088 股股票。在 5 月，海科的交易价格在 268 美元左右。截止到本文撰写时，价格为 337.56 美元。</p>
</div><p>Berkshire Hathaway may appear to be in the doldrums, but there are some clues that there is a method to the madness. While Berkshire may not have the capacity to make incredible bull runs in short time spans like Nvidia, the conglomerate is still highly profitable each year. Therefore, what may appear to be bearishness on Buffett’s part may actually have a more wily underlying rationale for the future.</p>
<div class="lb-trans"><p>伯克希尔哈撒韦可能看起来处于低迷状态，但有一些线索表明其中有其深意。虽然伯克希尔可能没有像英伟达那样在短时间内实现惊人的牛市，但该集团每年仍然保持高度盈利。因此，巴菲特看似的悲观实际上可能隐藏着更为狡猾的未来策略。</p>
</div><p>The post Warren Buffett Has Never Looked This Bearish appeared first on 24/7 Wall St..</p>
<div class="lb-trans"><p>沃伦·巴菲特从未显得如此悲观的文章最初出现在 24/7 Wall St.。</p>
</div>

Warren Buffett Has Never Looked This Bearish

- 分析师认为，巴菲特近期的悲观态度反映了对美国关税政策的观望。  
- 伯克希尔哈撒韦的现金储备被视为巴菲特为未来投资机会做准备。  
- 巴菲特的接班人阿贝尔将面临清理投资组合的挑战。  

沃伦·巴菲特从未如此悲观