<ul>
<li>一些分析師認為，沃倫·巴菲特最近異常的悲觀情緒反映了他對 8 月 1 日開始的美國關税政策影響的 “觀望” 態度。</li>
<li>伯克希爾·哈撒韋積累的大量現金被視為巴菲特為任何購買機會保持乾糧的方式。</li>
<li>伯克希爾對卡夫亨氏的 37.6 億美元減記，被一些人視為巴菲特為即將上任的首席執行官格雷格·阿貝爾清理董事會的幾個步驟之一。</li>
<li>英偉達讓早期投資者致富，但現在出現了一類 “下一個英偉達股票”，可能會更好。點擊這裏瞭解更多。</li>
</ul>
<p>當沃倫·巴菲特開始出售 <strong>伯克希爾·哈撒韋（</strong> <strong>NYSE: BRK-B)</strong> 在蘋果和美國銀行的股份以增加現金時，華爾街注意到了這一點。巴菲特的現金積累以及他罕見地偏離了 “買入並持有” 策略，向全球交易員和投資者發出了悲觀的紅旗警報。雖然許多人在猜測這位 “奧馬哈的先知” 正在計劃什麼，但沃倫·巴菲特所採取的步驟和已啓動的行動可能反映了除了股市之外的其他擔憂。</p>
<h2>一大筆現金</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>伯克希爾·哈撒韋出售近 70 億美元的股票，導致其擁有鉅額現金儲備，以便為未來的機會提供流動性。</p>
<p>巴菲特坐擁約 3440 億美元的現金和短期國債儲備，在 4 月初市場首次下跌及隨後反彈時選擇了觀望。當時特朗普總統首次宣佈了互惠關税政策。伯克希爾的第二季度業績顯示，該公司仍然是股票的淨賣家，購買了 39 億美元，但出售了 69.2 億美元。儘管巴菲特最喜歡的標準普爾 500 指數創下新高，他選擇不利用這一重大購買機會讓粉絲和追隨者感到困惑，但他們仍然忠誠。許多人在等待巴菲特的下一個重大舉動的宣佈，模仿往往是最終結果。</p>
<h2>對卡夫亨氏的 37.6 億美元減記</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數幾次失誤之一。</p>
<p>儘管伯克希爾·哈撒韋仍持有卡夫亨氏 27% 的股份，但它最終對這項投資進行了減記，這是對巴菲特少數幾次失誤之一的長期拖延的舉動。減記減少了運營收益（4.3 億美元），儘管由於 2024 年蘋果股票銷售的紙面收益，總收益（178.7 億美元）之間的年比年差異似乎更大。分析師們一直在質疑為何承認損失的時間如此之長。</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>鐵路挑戰</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>伯克希爾·哈撒韋的 BNSF 是美國最大的鐵路公司。</p>
<p>最近宣佈的聯合太平洋鐵路與諾福克南方鐵路之間的合併提案也引發了對伯克希爾·哈撒韋的 BNSF 鐵路的競爭擔憂。儘管 BNSF 是美國最大的鐵路，但競爭對手聯合太平洋和諾福克南方取代 BNSF 的前景使一些人建議伯克希爾應該收購東部鐵路 CSX。然而，除了來自聯邦貿易委員會的潛在反壟斷問題外，巴菲特以不願意購買公司而聞名，除非他能以便宜的價格獲得它們。BNSF 的業務表現良好，報告了 19% 的利潤增長，而 CSX 的交易價格處於 52 周高點，這對節儉的巴菲特來説是過於昂貴的。</p>
<h2>內部挑戰</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>美國關税的威脅導致了數萬億的國際投資承諾。然而，它們對伯克希爾業務的影響仍有待觀察。</p>
<p>經濟狀況、地緣政治事件和關税使伯克希爾·哈撒韋處於脆弱狀態。<em>“這些事件的變化速度，包括來自發展中的國際貿易政策和關税的緊張局勢，在 2025 年前六個月加速，”<em>10-Q 報告中寫道。</em>“我們的運營業務中大多數，甚至所有，可能會有不利後果。”</em></p>
<p>10-Q 還指出，第二季度的税後運營利潤較去年下降了 4%，降至 112 億美元。這是由於伯克希爾的美元債務造成的 8.77 億美元外匯損失。如果沒有這些損失，其運營利潤將增長 8%。巴菲特對美國關税對伯克希爾業務的影響感到合理的擔憂。這些全資子公司的供應鏈、製造、運輸和其他運營方面的跨國性質，使得完整的估算仍然是一個問號。</p>
<p>此外，蘋果和美國銀行股票銷售的反應給伯克希爾·哈撒韋帶來了不確定性，該公司已經看到投資者偏好轉向技術、人工智能和其他更具吸引力和短期上漲潛力的行業。因此，這家公司在過去 7 年中有 4 年表現不及巴菲特最喜歡的股票指數。從技術分析的角度來看，伯克希爾股票的 50 日和 200 日移動平均線正在急劇接近 “熊市” 區域。</p>
<h2>繼任問題</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>就像熱門 HBO 劇集《繼承》一樣，伯克希爾的未來在巴菲特接近 90 歲時處於懸而未決的狀態，沒有指定的首席執行官，直到他選擇了格雷格·阿貝爾。</p>
<p>繼任問題近年來一直是許多伯克希爾哈撒韋股東關注的焦點。在 90 歲以上，並且合夥人查理·芒格於 2023 年去世後，巴菲特終於在 2025 年 12 月提名副董事長格雷格·阿貝爾接任首席執行官，同時巴菲特繼續擔任董事長。</p>
<p>一些分析師和財經記者認為，現金儲備和清理像卡夫亨氏這樣的負擔是巴菲特為阿貝爾提供一個乾淨的起點，以便他能夠為伯克希爾股東創造自己的一系列股市和私營公司勝利的方式。</p>
<h2>巴菲特依然保持着他的投資眼光</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>航空電子和電子設備只是海科公司在航空航天領域提供必要設備的兩個方面。</p>
<p>在沃倫·巴菲特正式辭去日常運營和股票選擇職務之前，他仍然是一位強大的投資者，證明了他並沒有失去投資眼光。就在幾個月前，在 5 月 15 日的 SEC 文件中，伯克希爾哈撒韋報告稱其擁有佛羅里達州航空航天和電子公司 <strong>Heico Corp (</strong> <strong>NYSE: HEI</strong> <strong>)</strong> 的 1,162,088 股股票。在 5 月，海科的交易價格在 268 美元左右。截止到本文撰寫時，價格為 337.56 美元。</p>
<p>伯克希爾哈撒韋可能看起來處於低迷狀態，但有一些線索表明其中有其深意。雖然伯克希爾可能沒有像英偉達那樣在短時間內實現驚人的牛市，但該集團每年仍然保持高度盈利。因此，巴菲特看似的悲觀實際上可能隱藏着更為狡猾的未來策略。</p>
<p>沃倫·巴菲特從未顯得如此悲觀的文章最初出現在 24/7 Wall St.。</p>

伯克希爾哈撒韋-A

伯克希爾哈撒韋-B

南方兩倍做多伯克希爾

<p>沃倫·巴菲特最近出售伯克希爾哈撒韋在蘋果和美國銀行的股份以積累現金，引發了投資者的擔憂，顯示出看空的前景。分析師認為這反映了對美國關税政策影響的謹慎態度。伯克希爾的現金儲備達到約 3440 億美元，表明其為未來機會做好了準備。此外，對卡夫亨氏的 37.6 億美元減值突顯了巴菲特的罕見失誤。該公司面臨來自鐵路行業的競爭挑戰，以及國際貿易政策和關税可能帶來的不利影響</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>一些分析師認為，沃倫·巴菲特最近異常的悲觀情緒反映了他對 8 月 1 日開始的美國關税政策影響的 “觀望” 態度。</li>
<li>伯克希爾·哈撒韋積累的大量現金被視為巴菲特為任何購買機會保持乾糧的方式。</li>
<li>伯克希爾對卡夫亨氏的 37.6 億美元減記，被一些人視為巴菲特為即將上任的首席執行官格雷格·阿貝爾清理董事會的幾個步驟之一。</li>
<li>英偉達讓早期投資者致富，但現在出現了一類 “下一個英偉達股票”，可能會更好。點擊這裏瞭解更多。</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>當沃倫·巴菲特開始出售 <strong>伯克希爾·哈撒韋（</strong> <strong>NYSE: BRK-B)</strong> 在蘋果和美國銀行的股份以增加現金時，華爾街注意到了這一點。巴菲特的現金積累以及他罕見地偏離了 “買入並持有” 策略，向全球交易員和投資者發出了悲觀的紅旗警報。雖然許多人在猜測這位 “奧馬哈的先知” 正在計劃什麼，但沃倫·巴菲特所採取的步驟和已啓動的行動可能反映了除了股市之外的其他擔憂。</p>
</div><h2>A Mountain of Cash</h2>
<div class="lb-trans"><h2>一大筆現金</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>伯克希爾·哈撒韋出售近 70 億美元的股票，導致其擁有鉅額現金儲備，以便為未來的機會提供流動性。</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>巴菲特坐擁約 3440 億美元的現金和短期國債儲備，在 4 月初市場首次下跌及隨後反彈時選擇了觀望。當時特朗普總統首次宣佈了互惠關税政策。伯克希爾的第二季度業績顯示，該公司仍然是股票的淨賣家，購買了 39 億美元，但出售了 69.2 億美元。儘管巴菲特最喜歡的標準普爾 500 指數創下新高，他選擇不利用這一重大購買機會讓粉絲和追隨者感到困惑，但他們仍然忠誠。許多人在等待巴菲特的下一個重大舉動的宣佈，模仿往往是最終結果。</p>
</div><h2>$3.76 Billion Write-Down of Kraft Heinz</h2>
<div class="lb-trans"><h2>對卡夫亨氏的 37.6 億美元減記</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數幾次失誤之一。</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>儘管伯克希爾·哈撒韋仍持有卡夫亨氏 27% 的股份，但它最終對這項投資進行了減記，這是對巴菲特少數幾次失誤之一的長期拖延的舉動。減記減少了運營收益（4.3 億美元），儘管由於 2024 年蘋果股票銷售的紙面收益，總收益（178.7 億美元）之間的年比年差異似乎更大。分析師們一直在質疑為何承認損失的時間如此之長。</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>鐵路挑戰</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>伯克希爾·哈撒韋的 BNSF 是美國最大的鐵路公司。</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>最近宣佈的聯合太平洋鐵路與諾福克南方鐵路之間的合併提案也引發了對伯克希爾·哈撒韋的 BNSF 鐵路的競爭擔憂。儘管 BNSF 是美國最大的鐵路，但競爭對手聯合太平洋和諾福克南方取代 BNSF 的前景使一些人建議伯克希爾應該收購東部鐵路 CSX。然而，除了來自聯邦貿易委員會的潛在反壟斷問題外，巴菲特以不願意購買公司而聞名，除非他能以便宜的價格獲得它們。BNSF 的業務表現良好，報告了 19% 的利潤增長，而 CSX 的交易價格處於 52 周高點，這對節儉的巴菲特來説是過於昂貴的。</p>
</div><h2>Internal Challenges</h2>
<div class="lb-trans"><h2>內部挑戰</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>美國關税的威脅導致了數萬億的國際投資承諾。然而，它們對伯克希爾業務的影響仍有待觀察。</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>經濟狀況、地緣政治事件和關税使伯克希爾·哈撒韋處於脆弱狀態。<em>“這些事件的變化速度，包括來自發展中的國際貿易政策和關税的緊張局勢，在 2025 年前六個月加速，”<em>10-Q 報告中寫道。</em>“我們的運營業務中大多數，甚至所有，可能會有不利後果。”</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 還指出，第二季度的税後運營利潤較去年下降了 4%，降至 112 億美元。這是由於伯克希爾的美元債務造成的 8.77 億美元外匯損失。如果沒有這些損失，其運營利潤將增長 8%。巴菲特對美國關税對伯克希爾業務的影響感到合理的擔憂。這些全資子公司的供應鏈、製造、運輸和其他運營方面的跨國性質，使得完整的估算仍然是一個問號。</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，蘋果和美國銀行股票銷售的反應給伯克希爾·哈撒韋帶來了不確定性，該公司已經看到投資者偏好轉向技術、人工智能和其他更具吸引力和短期上漲潛力的行業。因此，這家公司在過去 7 年中有 4 年表現不及巴菲特最喜歡的股票指數。從技術分析的角度來看，伯克希爾股票的 50 日和 200 日移動平均線正在急劇接近 “熊市” 區域。</p>
</div><h2>Succession</h2>
<div class="lb-trans"><h2>繼任問題</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>就像熱門 HBO 劇集《繼承》一樣，伯克希爾的未來在巴菲特接近 90 歲時處於懸而未決的狀態，沒有指定的首席執行官，直到他選擇了格雷格·阿貝爾。</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>繼任問題近年來一直是許多伯克希爾哈撒韋股東關注的焦點。在 90 歲以上，並且合夥人查理·芒格於 2023 年去世後，巴菲特終於在 2025 年 12 月提名副董事長格雷格·阿貝爾接任首席執行官，同時巴菲特繼續擔任董事長。</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>一些分析師和財經記者認為，現金儲備和清理像卡夫亨氏這樣的負擔是巴菲特為阿貝爾提供一個乾淨的起點，以便他能夠為伯克希爾股東創造自己的一系列股市和私營公司勝利的方式。</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資眼光</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>航空電子和電子設備只是海科公司在航空航天領域提供必要設備的兩個方面。</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>在沃倫·巴菲特正式辭去日常運營和股票選擇職務之前，他仍然是一位強大的投資者，證明了他並沒有失去投資眼光。就在幾個月前，在 5 月 15 日的 SEC 文件中，伯克希爾哈撒韋報告稱其擁有佛羅里達州航空航天和電子公司 <strong>Heico Corp (</strong> <strong>NYSE: HEI</strong> <strong>)</strong> 的 1,162,088 股股票。在 5 月，海科的交易價格在 268 美元左右。截止到本文撰寫時，價格為 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>伯克希爾哈撒韋可能看起來處於低迷狀態，但有一些線索表明其中有其深意。雖然伯克希爾可能沒有像英偉達那樣在短時間內實現驚人的牛市，但該集團每年仍然保持高度盈利。因此，巴菲特看似的悲觀實際上可能隱藏着更為狡猾的未來策略。</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>沃倫·巴菲特從未顯得如此悲觀的文章最初出現在 24/7 Wall St.。</p>
</div>

Warren Buffett Has Never Looked This Bearish

- 分析師認為，巴菲特近期的悲觀態度反映了對美國關税政策的觀望。  
- 伯克希爾哈撒韋的現金儲備被視為巴菲特為未來投資機會做準備。  
- 巴菲特的接班人阿貝爾將面臨清理投資組合的挑戰。  

沃倫·巴菲特從未如此悲觀