It's always a good idea to look inside Berkshire Hathaway's stock portfolio, because Buffett is one of the greatest investors of all time.Warren Buffett needs no introduction. The 94-year-old is widely considered one of the greatest investors of all time, having built his company Berkshire Hathaway into the sixth largest publicly traded company in the world.Within Berkshire is a more than $300 billion equities portfolio that the Oracle of Omaha, with the help of his investing lieutenants, has built from scr ...

American Express Company (NYSE:AXP) Barclays 22nd Annual Global Financial Services Conference September 11, 2024 9:00 AM ET Company Participants Christophe Le Caillec - CFO Conference Call Participants Terry Ma - Barclays Terry Ma All right. I think we're going to get started. Welcome, everyone, to the third day of the Barclays Global Financials Conference. My name is Terry Ma. I cover U.S. Consumer Finance at Barclays. I'm very pleased to have on stage the CFO of American Express, Christophe Le Caillec. So ...

会议主要讨论的核心内容 - 公司在第三季度的消费支出情况保持稳定,与第二季度相比没有太大变化 [3][4] - 公司在消费者支出中看到了一些变化,如旅游和娱乐支出增速有所放缓,但餐饮支出仍保持强劲 [5][6] - 小企业业务方面,公司看到了一些改善迹象,但需要更长时间才能确认是否真正复苏 [9][10][11] - 公司近期推出了多款产品升级,包括Delta卡和Gold卡,反响良好,有助于提升客户参与度和收费收入 [13][14][15] - 公司正在不断提升客户的借贷需求,并通过提高利差来推动利息收入的增长 [24][25][26][27] 问答环节重要的提问和回答 - 分析师询问公司在不同年龄段和收入水平的消费者中是否存在差异,公司表示高收入群体的消费一直更强劲 [5][6][7] - 分析师问及公司产品更新对客户流失的影响,公司表示产品更新通常能提升客户参与度,没有看到明显的客户流失 [13][14][15] - 分析师询问公司年费收入的长期增长空间,公司表示只要能为客户提供足够的价值,客户对年费的接受程度很高 [17][18] - 分析师问及公司营销费用的预算情况,公司表示会根据市场情况灵活调整,但整体上会保持在较高水平 [42][43][44][47] - 分析师问及公司信用表现的驱动因素,公司表示主要得益于吸引高端客户群体以及信用风险管理能力的提升 [56][57][58][59]

文章核心观点 - 美国运通是巴菲特长期持有的重要投资标的之一 [1][2] - 美国运通拥有强大的品牌影响力,在金融服务行业具有领导地位 [3] - 美国运通的独特商业模式为其带来竞争优势 [4] - 美国运通近年来保持了稳定的收入和利润增长 [5] - 美国运通实施了积极的股东回报政策,包括大规模股票回购和持续增长的股息 [5][6][7] 公司概况 - 美国运通成立于1850年,经历了多次经济周期的考验,品牌影响力持续提升 [3] - 公司拥有忠实的高端客户群,为客户提供优质的服务和特权 [3] - 公司能够持续适应消费者偏好和技术变革,保持行业领先地位 [3] 商业模式 - 美国运通既是支付网络,又是发卡机构,这种双重角色带来定价、风险管理和交叉销售的优势 [4] - 公司能够针对商户和消费者的需求进行定制,构建更加完整的生态系统 [4] 财务表现 - 过去10年,公司收入和利润保持持续增长,抗风险能力强 [5] - 公司实施大规模股票回购,有效提升每股收益和股息增长率 [5][6] - 公司股息支付率较低,为未来进一步增加股息提供空间 [6] - 公司股息增长率位居同行业前列 [6]

The stock market has now priced in the interest rate cut narrative. Investors can point to this idea by watching how the S&P 500 has gone from an uptrend market to a channeling—or even bracketing—market around a support and resistance area. The good news is that there are other stocks that haven’t yet topped or even caught up to pricing in these rate cuts.Even if price action in these stocks starts to slow down, investors need to know that this is only a natural extension of the broader S&P 500, and what co ...

文章核心观点 - 美国运通是巴菲特长期持有的优质公司之一,其品牌历经时间考验,具有持久的竞争优势 [1][2] - 美国运通的商业模式具有天然的通胀保护,随着商品价格上涨而获益 [3][4] - 美国运通有稳健的管理层,持续向股东派发高增长的股息 [5] 公司概况 - 美国运通是一家垂直整合的信用卡网络公司,总部位于美国,拥有144百万张信用卡在circulation [2] - 公司主要面向高端客户群,提供高年费的优质信用卡产品,如白金卡年费接近700美元 [3] - 公司收入主要来自交易手续费,占总收入的一半以上,这部分收入随通胀自动增长 [3][4] 竞争优势 - 美国运通拥有久经考验的知名品牌,多年来持续进行品牌建设,在高端客户群中享有良好声誉 [2] - 公司的商业模式具有天然的通胀保护,随着商品价格上涨而获益,是最佳的商业模式之一 [4] - 公司管理层稳健,持续向股东派发高增长的股息,回报股东 [5]

This company is growing earnings rapidly yet still trades at a conservative valuation.Given the market's sharp rise this year, with the S&P 500 and Nasdaq Composite rising about 15% and 14%, respectively, as of this writing, it's getting increasingly difficult to find good stocks to buy and hold for the long term. Many stocks' valuations have just become too pricey.One way for investors to navigate a market like this is to turn to high-quality companies paying out dividends likely to grow over the long haul ...

Part of Berkshire Hathaway (NYSE: BRK.A) CEO Warren Buffett’s success is his ability to identify stocks with long-term growth potential.Notably, Buffett’s portfolio consists of what can be referred to as ‘forever’ stocks, which have a reputation for offering sustainable competitive advantages while allowing investors to buy and hold them for an extended period.With the fourth quarter of 2024 approaching amid the lingering economic uncertainty surrounding a possible recession, some of Buffett’s ‘forever’ sto ...

Part of Berkshire Hathaway (NYSE: BRK.A) CEO Warren Buffett’s success is his ability to identify stocks with long-term growth potential.Notably, Buffett’s portfolio consists of what can be referred to as ‘forever’ stocks, which have a reputation for offering sustainable competitive advantages while allowing investors to buy and hold them for an extended period.With the fourth quarter of 2024 approaching amid the lingering economic uncertainty surrounding a possible recession, some of Buffett’s ‘forever’ sto ...

The Oracle of Omaha has long been bullish on this outstanding financial company.As of this writing, Berkshire Hathaway is now in the trillion-dollar club, joining a short list of businesses to make the cut. Warren Buffett's conglomerate fully owns multiple businesses in a range of industries, but it also has a gargantuan portfolio of public equities. Apple gets a lot of the attention. But there's a financial stock that is currently Berkshire's second-largest holding that investors need to know about. In fac ...