Công thức bí mật của Warren Buffet

năm 1994, mua 400 triệu cổ phiếu Coca-Cola, với giá 1,3 tỷ usd, cổ tức khi đó là 75 triệu usd, đến năm 2022, cổ tức nhận từ Coca-Cola là 704 triệu usd/năm; giá trị khoản đầu tư hiện là 25 tỷ usd,

năm 1995, mua lượng cổ phiếu American Express cũng với giá 1,3 tỷ usd, cổ tức khi đó là 41 triệu usd, giờ nhận 302 triệu usd/năm; giá trị khoản đầu tư hiện là 22 tỷ usd.
-----
The Secret Sauce

In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.


The cash dividend (cổ tức bằng tiền mặt) we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.

American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.

These dividend gains, though pleasing, are far from spectacular (ngoạn mục). But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.

Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of
annual income.

The lesson for investors: The weeds wither away in significance as the flowers bloom.

Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.
Tags: finance

Post a Comment

Tin liên quan

    Tài chính

    Trung Quốc