双语阅读-巴菲特的五条投资经.docx

Five Investing Tips From Warren Buffett 巴菲特的五条投资经 What does Warren Buffetts message to stockholders mean for you and your money? 巴菲特(Warren Buffett)向股东传达出的信息对你和你的钱来说意味着什么呢？ Every year Mr. Buffett, the worlds third-richest man and arguably the most successful stock-market investor in history, writes a letter to stockholders in his investment company Berkshire Hathaway. The latest came out this weekend. There are usually some nuggets for all those who havent invested in Berkshire, and this years letter was no exception. Here are five: 巴菲特，全世界第三大富豪、也可以说是史上最成功的股市投资者，每年都会给他的投资公司伯克希尔?哈撒韦(Berkshire Hathaway)的股东们写一封信。最新的致股东信不久前出炉。对于所有那些没有投资伯克希尔的人来说，信中往往会蕴含一些宝贵的“投资经”，今年也不 例外。以下就是五条巴菲特的投资经： 1. Watch out for stock-market valuations. Mr. Buffetts company is now sitting on a cash hoard of $38 billion. Thats among the highest levels its ever been, says Stifel Nicolas analyst Meyer Shields. While Mr. Buffett says he is looking for a big acquisition, and has his elephant gun loaded, the high cash pile also suggests hes having a challenge finding really good deals. If Mr. Buffett is cautious, investors might want to take note: Its another sign that many valuations on the stock market may be looking a little stretched. 1. 留意股市估值 巴菲特的公司目前坐拥380亿美元的现金储备。Stifel Nicolas的分析师施尔德(Meyer Shields)说，这是该公司现金水平最高的时期之一。虽然巴菲特说他正在寻找一笔大规模的收购交易，而且他的“猎象枪已经上膛了”，但大量的现金储备 也表明，巴菲特在寻找真正合适的交易时遇到了困难。如果巴菲特是谨慎的，那么投资者或许需要留意了：这是表明许多股票的估值可能被稍许高估的又一个迹象。 2. Coke is it. Mr. Buffett rarely makes predictions, but in the case of Coca-Cola —a long-term holding—he issues a remarkable one: Dividends will probably double ... within ten years, he writes. That would take them from last years $1.76 to $3.52 per share. If Coca-Cola stock didnt move over that period, it would raise the dividend yield from 2.5% today to above 5%. Berkshire owns 8.6% of Coca-Cola stock. 2. 没错，就是可口可乐 巴菲特很少做出预言，但对他长期持有的可口可乐(Coca-Cola)，他做出了一个惊人的预言：他写道，十年之内派息可能会增加一倍。按照这个预言，可口 可乐的派息额将从去年的每股1.76美元增至3.52美元。如果在此期间可口可乐的股价没有变化，派息率将从如今的2.5%升至5%以上。伯克希尔持有该 公司8.