近日，巴菲特旗下的伯克希爾-哈撒韋公司發(fā)布了年度股東信，其中介紹公司利潤降至2001年以來最低。幾天后沃倫·巴菲特在電視上介紹，指數(shù)基金之類的長期投資策略還是最能經(jīng)得起時(shí)間考驗(yàn)。

據(jù)《福布斯》估算，巴菲特的凈身家為840億美元。他告訴CNBC，被動投資“一直是最佳策略。”被動投資主要指投資共同基金或跟蹤標(biāo)普500等大盤指數(shù)的交易所交易基金等。

在上周末發(fā)給伯克希爾-哈撒韋股東的信中，巴菲特回憶了此生第一筆投資，他11歲時(shí)用積攢多年的114.72美元買了一家天然氣公司的股票。

“如果我用當(dāng)年的114.75美元投資無費(fèi)用的標(biāo)普500指數(shù)基金，所有分紅也用來投資，到2019年1月31日這筆投資將漲到60.6811萬美元（稅前），”巴菲特寫道。“相當(dāng)于1美元賺到5288美元。”

巴菲特告訴CNBC，如果1942年投資10000美元買標(biāo)普500指數(shù)基金，現(xiàn)在價(jià)值是510萬美元。指數(shù)基金的回報(bào)十分強(qiáng)勁，連伯克希爾-哈撒韋的兩位投資經(jīng)理泰德·韋施勒和托德·庫姆斯都沒有戰(zhàn)勝標(biāo)普500指數(shù)。“總體來說，他們兩人業(yè)績都比標(biāo)普低了一點(diǎn)點(diǎn)，利潤基本上差不多?！卑头铺乇硎尽?/p>

2018年四季度伯克希爾-哈撒韋損失240億美元。部分原因是卡夫亨氏最近對卡夫和Oscar Mayer等品牌進(jìn)行154億美元的商譽(yù)減值。巴菲特表示，對卡夫亨氏的判斷出現(xiàn)了“一些失誤”，包括收購卡夫時(shí)“出價(jià)偏高”。（財(cái)富中文網(wǎng)）

譯者：Pessy

審校：夏林

A few days after Berkshire Hathaway’s annual letter to shareholders disclosed the company’s lowest annual profit since 2001, Warren Buffett appeared on TV to suggest that longer-term investment strategies like index funds still stand the test of time.

Buffett, who is estimated by Forbes to have a net worth of $84 billion, told CNBC that passive investing—typically investing in a mutual fund or exchange-traded fund that tracks a major stock index like the benchmark S&P 500—”makes the most sense practically all of the time.”

In Buffett’s letter to Berkshire Hathaway shareholders, published last weekend, he recalled his first investment, $114.72 that he’d been saving for years and invested in a natural-gas company when he was 11.

“If my $114.75 had been invested in a no-fee S&P 500 index fund, and all dividends had been reinvested, my stake would have grown to be worth (pre-taxes) $606,811 on January 31, 2019,” Buffett wrote. “That is a gain of 5,288 for 1.”

Buffett said on CNBC that $10,000 invested in an S&P 500 index fund back in 1942 would be worth $51 million today. The index’s returns have been so strong that two of Berkshire Hathaway’s stock pickers, Ted Weschler and Todd Combs, recently failed to beat the S&P 500. “Overall, they are a tiny bit behind the S&P, each, by almost the same margin,” Buffett said.

Berkshire Hathaway recorded a $25 billion loss in the last quarter of 2018. Part of that has to do with its investment in Kraft Heinz, which recently took a $15.4 billion write-down on brands such as Kraft and Oscar Mayer. Buffett said he was “wrong in a couple of ways” about Kraft Heinz, including “overpaying” for the acquisition of Kraft.