Upswing118
2021-12-16
Good start he had then💪
If we had his mind, what shd we go into now🤔
5 Best Value Stocks in Warren Buffett’s Portfolio<blockquote>沃伦·巴菲特投资组合中最有价值的 5 只股票</blockquote>
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(NYSE:BRK-A), which he manages alongside Charlie Munger, who is the vice chairman of the company and the closest associate of Buffett.</p><p><blockquote>亿万富翁沃伦·巴菲特是美国商业大亨、传奇价值投资者和慈善家，以其企业集团控股公司伯克希尔·哈撒韦公司（纽约证券交易所代码：BRK-A）而闻名，他与查理·芒格共同管理该公司副董事长，也是巴菲特最亲密的合伙人。</blockquote></p><p> Buffett manages his investments via his hedge fund,Berkshire Hathaway, which managed about $293.4 billion in 13F securities in the third quarter, gaining approximately $57 billion as compared to the prior-year quarter. Buffett’s portfolio is largely concentrated in the information technology, finance, and consumer staples sectors. The billionaire is known for following the Benjamin Graham school of thought, focusing primarily on value stocks.</p><p><blockquote>巴菲特通过他的对冲基金伯克希尔哈撒韦公司管理他的投资，该公司第三季度管理了约2934亿美元的13F证券，与去年同期相比增加了约570亿美元。巴菲特的投资组合主要集中在信息技术、金融和必需消费品领域。这位亿万富翁以遵循本杰明·格雷厄姆学派而闻名，主要关注价值股。</blockquote></p><p> The legendary investor recommends low-cost index funds for a majority of investors, as some active managers charge heavy management and performance fees, and he doesn’t believe they can beat the market on a consistent basis. In his opinion, amatuer and passive investors are better off betting on an S&P 500 index fund for the long-term, since it would generate returns over the course of a decade that are higher than the returns from a basket of diversified hedge funds after the hedge fund managers are paid their share of the management fees.</p><p><blockquote>这位传奇投资者向大多数投资者推荐低成本指数基金，因为一些主动型基金经理收取高额管理费和业绩费，他不相信这些基金能持续跑赢市场。在他看来，业余和被动投资者最好长期押注标普500指数基金，因为它在十年内产生的回报将高于一篮子多元化对冲基金的回报。对冲基金经理获得管理费份额。</blockquote></p><p> Since Buffett is a long-term investor, he advises people who are starting out their investment journey to buy the stock dips, since the market is eventually going to rise again.</p><p><blockquote>由于巴菲特是一位长期投资者，他建议开始投资之旅的人在股票下跌时买入，因为市场最终会再次上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/95c29fa4a746a9be0316155793ff359c\" tg-width=\"767\" tg-height=\"843\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The most notable stocks in Warren Buffett’s Q3 portfolio include Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN), in addition to others mentioned in detail below.</p><p><blockquote>巴菲特第三季度投资组合中最著名的股票包括苹果公司（纳斯达克股票代码：AAPL）、美国运通公司（纽约证券交易所股票代码：AXP）、可口可乐公司（纽约证券交易所股票代码：KO）和亚马逊公司（纳斯达克股票代码：AMZN），此外还有下文详细提到的其他股票。</blockquote></p><p> <b><i>Our Methodology</i></b></p><p><blockquote><b><i>我们的方法</i></b></blockquote></p><p> We used the Q3 portfolio of Warren Buffett’s Berkshire Hathaway to select his top 10 value stocks. We chose stocks that had the lowest price to earnings ratio in the billionaire’s portfolio, and ranked the securities according to Buffett’s stake value in each holding.</p><p><blockquote>我们利用沃伦-巴菲特（Warren Buffett）的伯克希尔-哈撒韦公司（Berkshire Hathaway）第三季度投资组合，选出了他的十大价值股。我们选择了这位亿万富翁投资组合中市盈率最低的股票，并根据巴菲特在每笔持股中的持股价值对证券进行排名。</blockquote></p><p> <b>Best Value Stocks in Warren Buffett’s Portfolio</b></p><p><blockquote><b>沃伦·巴菲特投资组合中最有价值的股票</b></blockquote></p><p> <b>10. Wells Fargo & Company (NYSE:WFC)</b></p><p><blockquote><b>10. 富国银行公司（纽约证券交易所代码：WFC）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $31,329,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：31,329,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 0.01%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：0.01%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 88</i></b></p><p><blockquote><b><i>对冲基金持有人数量：88</i></b></blockquote></p><p> <b><i>P/E Ratio: 11.98</i></b></p><p><blockquote><b><i>市盈率：11.98</i></b></blockquote></p><p> Wells Fargo & Company (NYSE:WFC) posted its Q3 earnings on October 14. EPS in the quarter totaled $1.22, exceeding estimates by $0.28. Revenue over the period equaled $18.83 billion, outperforming analysts’ consensus estimates by $542.17 million.</p><p><blockquote>富国银行公司（纽约证券交易所股票代码：WFC）于 10 月 14 日公布了第三季度收益。本季度每股收益总计 1.22 美元，超出预期 0.28 美元。同期营收达到 188.3 亿美元，比分析师一致预期高出 5.4217 亿美元。</blockquote></p><p> Warren Buffett holds 675,054 shares in Wells Fargo & Company (NYSE:WFC), an American multinational financial services corporation, as of September this year. Buffett’s stake in Wells Fargo & Company (NYSE:WFC) amounts to $31.32 million, and it accounts for 0.01% of the billionaire’s Q3 portfolio. With a P/E ratio of 11.98, Wells Fargo & Company (NYSE:WFC) is one of the best value stocks in Warren Buffett’s portfolio.</p><p><blockquote>截至今年9月，沃伦·巴菲特持有美国跨国金融服务公司富国银行（纽约证券交易所股票代码：WFC）675,054股股票。巴菲特持有的富国银行（纽约证券交易所股票代码：WFC）股份达 3132 万美元，占这位亿万富翁第三季度投资组合的 0.01%。富国银行（纽约证券交易所股票代码：WFC）的市盈率为 11.98，是沃伦-巴菲特投资组合中最有价值的股票之一。</blockquote></p><p> On December 9, UBS analyst Erika Najarian called Wells Fargo & Company (NYSE:WFC) one of her “highest conviction Buy ideas”, assuming coverage of the stock with a Buy rating and a $65 price target. The analyst sees rising rates and execution of its expense plan driving return on average tangible common shareholders’ equity as attractive catalysts.</p><p><blockquote>12 月 9 日，瑞银（UBS）分析师埃里卡-纳贾里安（Erika Najarian）称富国银行（Wells Fargo & Company，纽约证券交易所股票代码：WFC）是她 “最有说服力的买入想法”之一，她认为该股的评级为买入，目标价为 65 美元。这位分析师认为，利率上升和支出计划的执行推动了有形普通股股东权益的平均回报率，是极具吸引力的催化剂。</blockquote></p><p> A total of 88 hedge funds were bullish on Wells Fargo & Company (NYSE:WFC) at the end of the third quarter, holding stakes worth $6.18 billion. This is comparable to 94 funds holding stakes valued at over $7 billion in Wells Fargo & Company (NYSE:WFC) in the previous quarter.</p><p><blockquote>截至第三季度末，共有88家对冲基金看好富国银行公司（纽约证券交易所股票代码：WFC），持有价值61.8亿美元的股份。这相当于上一季度持有富国银行公司（纽约证券交易所股票代码：WFC）价值超过 70 亿美元股份的 94 只基金。</blockquote></p><p> Boykin Curry’s Eagle Capital Management is the largest Wells Fargo & Company (NYSE:WFC) stakeholder as of the third quarter, holding 33.74 million shares worth $1.56 billion.</p><p><blockquote>截至第三季度，博伊金-库里（Boykin Curry）的鹰资本管理公司（Eagle Capital Management）是富国银行（Wells Fargo & Company，纽约证券交易所股票代码：WFC）最大的股东，持有 3374 万股股票，价值 15.6 亿美元。</blockquote></p><p> Wells Fargo & Company (NYSE:WFC) is a notable stock from Warren Buffett’s Q3 portfolio, in addition to Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN).</p><p><blockquote>富国银行（纽约证券交易所股票代码：WFC）是巴菲特第三季度投资组合中的一只著名股票，此外还有苹果公司（纳斯达克股票代码：AAPL）、美国运通公司（纽约证券交易所股票代码：AXP）、可口可乐公司（纽约证券交易所股票代码：KO）和亚马逊公司（纳斯达克股票代码：AMZN）。</blockquote></p><p> Hereis what Davis Global Fund has to say about Wells Fargo & Company (NYSE:WFC) in its Q3 2021 investor letter:</p><p><blockquote>以下是戴维斯全球基金在其 2021 年第三季度投资者信中对富国银行公司（纽约证券交易所股票代码：WFC）的评价：</blockquote></p><p></p><p> “…This second chart highlights that financials remain the cheapest part of the market today and continue to be extremely attractive. Strong capital ratios, conservative lending practices, already record low interest rates and now a strengthening economy, all paired with low valuations, bode well for future returns. Take our top financials holding in Wells Fargo, for instance. Wells Fargo is trading at 1.3x tangible book value, while we expect return on equity (ROE) to be in the mid-to-high teens over time. Even in this low-rate environment, the current multiple is only 12x 2021 owner earnings, and our IRR estimate is 12–13%. Wells Fargo has performed well this year, up 51% year-to-date, yet still looks very attractive, which speaks to how undervalued it was and why it is so important to be patient when investing in high-quality companies trading at low valuations. Rather than invest on the basis of unpredictable near-term catalysts, we prefer to be patient as earnings and cash build up, even if the stock price does not immediately reflect the economic reality. We continue to like our positions in financials.” <b>9. Teva Pharmaceutical Industries Limited (NYSE:TEVA)</b></p><p><blockquote>“.第二张图表凸显了金融股仍然是当今市场上最便宜的部分，并且仍然极具吸引力。强劲的资本比率、保守的贷款做法、已经创下历史新低的利率以及现在的经济走强，再加上低估值，都预示着未来的回报。以我们持有的富国银行为例。富国银行的交易价格为有形账面价值的 1.3 倍，而我们预计随着时间的推移，股本回报率 (ROE) 将处于中高位。即使在这种低利率环境下，目前的倍数也只有2021年所有者收益的12倍，我们的IRR估计为12-13%。富国银行今年表现良好，今年迄今已上涨 51%，但看起来仍然非常有吸引力，这说明它被低估了多少，以及为什么在投资低估值的优质公司时保持耐心如此重要。与其根据不可预测的近期催化剂进行投资，我们更愿意在盈利和现金积累时保持耐心，即使股价不能立即反映经济现实。我们仍然喜欢我们在金融领域的职位。”<b>9.梯瓦制药工业有限公司（纽约证券交易所代码：TEVA）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $416,768,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：416,768,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 0.14%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：0.14%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 22</i></b></p><p><blockquote><b><i>对冲基金持有人数量：22</i></b></blockquote></p><p> <b><i>P/E Ratio: 12.63</i></b></p><p><blockquote><b><i>市盈率：12.63</i></b></blockquote></p><p> Teva Pharmaceutical Industries Limited (NYSE:TEVA), a pharmaceutical company from Israel specializing in generics and biopharmaceutical medicines, reported its Q3 results on October 27. Teva Pharmaceutical Industries Limited (NYSE:TEVA) posted an EPS of $0.59, missing estimates by $0.06. The Q3 revenue totaled $3.89 billion, down 2.29% year-over-year, missing estimates by $163.2 million.</p><p><blockquote>Teva Pharmaceutical Industries Limited（纽约证券交易所股票代码：TEVA）是一家以色列制药公司，专门从事仿制药和生物制药，于10月27日公布了第三季度业绩。梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）公布的每股收益为 0.59 美元，比预期低 0.06 美元。第三季度营收总计38.9亿美元，同比下降2.29%，比预期低1.632亿美元。</blockquote></p><p> Warren Buffett holds a $416.76 million position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) as of September 2021, which accounts for 0.14% of the billionaire’s total Q3 portfolio.</p><p><blockquote>截至 2021 年 9 月，沃伦-巴菲特持有梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）价值 4.1676 亿美元的头寸，占这位亿万富翁第三季度总投资组合的 0.14%。</blockquote></p><p> Abrams Capital Managementis one of the leading stakeholders of Teva Pharmaceutical Industries Limited (NYSE:TEVA) from the third quarter, owning over 24 million shares valued at $234.2 million.</p><p><blockquote>自第三季度以来，艾布拉姆斯资本管理公司一直是梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）的主要利益相关者之一，拥有超过 2400 万股股票，价值 2.342 亿美元。</blockquote></p><p> Hedge funds increased their stakes in Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the third quarter, with 22 funds holding stakes valued at $950.6 million in the company, as compared to the same number of funds being bullish on Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the preceding quarter, with a total stake value of $947.1 million.</p><p><blockquote>对冲基金第三季度增持梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA），22只基金持有该公司价值9.506亿美元的股份，而同样数量的基金看好梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）上一季度，总股权价值为9.471亿美元。</blockquote></p><p> Raymond James analyst Elliot Wilbur on October 27 downgraded Teva Pharmaceutical Industries Limited (NYSE:TEVA) to Market Perform from Outperform without a price target, stating that near-term fundamentals are coming up short, as compared to the performance expectations from the company.</p><p><blockquote>Raymond James 分析师 Elliot Wilbur 于 10 月 27 日将梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）的评级从跑赢大盘下调至市场表现，但没有设定价格目标，并表示与该公司的业绩预期相比，近期基本面不足。</blockquote></p><p> <b>8. Globe Life Inc. (NYSE:GL)</b></p><p><blockquote><b>8. 环球人寿公司（纽约证券交易所股票代码：GL）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $565,672,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：565,672,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 0.19%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：0.19%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 27</i></b></p><p><blockquote><b><i>对冲基金持有人数量：27</i></b></blockquote></p><p> <b><i>P/E Ratio: 12.45</i></b></p><p><blockquote><b><i>市盈率：12.45</i></b></blockquote></p><p> Billionaire Warren Buffett holds 6.35 million shares in Globe Life Inc. (NYSE:GL) as of September this year, worth $565.6 million, accounting for 0.19% of his total Q3 13F portfolio. Globe Life Inc. (NYSE:GL) is a Texas-based financial services holding company that specializes in life insurance, annuity, and supplemental health insurance products.</p><p><blockquote>截至今年 9 月，亿万富翁沃伦·巴菲特持有 Globe Life Inc.（纽约证券交易所股票代码：GL）635 万股股票，价值 5.656 亿美元，占其第三季度 13F 投资组合总额的 0.19%。Globe Life Inc.（纽约证券交易所股票代码：GL）是一家总部位于德克萨斯州的金融服务控股公司，专门从事人寿保险、年金和补充健康保险产品。</blockquote></p><p> Credit Suisse analyst Andrew Kligerman on October 19 lowered the price target on Globe Life Inc. (NYSE:GL) to $130 from $135 and kept an Outperform rating on the shares, stating that despite the COVID-19 pressures on the stock, Globe Life Inc. (NYSE:GL) is trading at an attractive valuation. Globe Life Inc. (NYSE:GL) is one of the top value stocks according to Warren Buffett’s Berkshire Hathaway.</p><p><blockquote>瑞士信贷分析师 Andrew Kligerman 于 10 月 19 日将 Globe Life Inc. (NYSE:GL) 的目标价从 135 美元下调至 130 美元，并维持该股跑赢大盘评级，表示尽管该股面临 COVID-19 压力，Globe Life Inc. (NYSE:GL) 的交易估值颇具吸引力。根据沃伦-巴菲特的伯克希尔-哈撒韦公司的说法，Globe Life Inc.（纽约证券交易所股票代码：GL）是最有价值的股票之一。</blockquote></p><p> Globe Life Inc. (NYSE:GL) announced Q3 earnings on October 20, posting an EPS of $1.78, missing estimates by $0.11. The quarterly revenue jumped 6.93% to $1.28 billion, outperforming estimates by $15.97 million.</p><p><blockquote>Globe Life Inc.（纽约证券交易所股票代码：GL）于 10 月 20 日公布了第三季度收益，每股收益为 1.78 美元，比预期低 0.11 美元。季度收入增长 6.93%，达到 12.8 亿美元，超出预期 1597 万美元。</blockquote></p><p> Insider Monkey tracks the movement of 867 elite hedge funds as of the third quarter, and a total of 27 funds of them reported owning stakes in Globe Life Inc. (NYSE:GL), worth $775.77 million. This is compared to 28 funds being bullish on Globe Life Inc. (NYSE:GL) in the prior quarter, with a total stake value of approximately $795 million.</p><p><blockquote>Insider Monkey 追踪了截至第三季度 867 家精英对冲基金的动向，其中共有 27 家基金报告持有 Globe Life Inc.（纽约证券交易所股票代码：GL）的股份，价值 7.7577 亿美元。相比之下，上一季度有 28 只基金看好 Globe Life Inc.（纽约证券交易所股票代码：GL），总股权价值约为 7.95 亿美元。</blockquote></p><p> In addition to Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN), elite hedge funds are piling into Globe Life Inc. (NYSE:GL).</p><p><blockquote>除了苹果公司（纳斯达克股票代码：AAPL）、美国运通公司（纽约证券交易所股票代码：AXP）、可口可乐公司（纽约证券交易所股票代码：KO）和亚马逊公司（纳斯达克股票代码：AMZN）之外，精英对冲基金也纷纷涌入环球人寿公司（纽约证券交易所股票代码：GL）。</blockquote></p><p> <b>7. General Motors Company (NYSE:GM)</b></p><p><blockquote><b>7. 通用汽车公司（纽约证券交易所代码：GM）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $3,162,600,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：3,162,600,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 1.07%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：1.07%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 77</i></b></p><p><blockquote><b><i>对冲基金持有人数量：77</i></b></blockquote></p><p> <b><i>P/E Ratio: 8.45</i></b></p><p><blockquote><b><i>市盈率：8.45</i></b></blockquote></p><p></p><p> General Motors Company (NYSE:GM) stock represents 1.07% of Berkshire Hathaway’s Q3 portfolio, with the hedge fund holding a $3.16 billion position in the company. General Motors Company (NYSE:GM) is an American multinational automaker, with four core automobile brands including Chevrolet, Buick, GMC, and Cadillac. General Motors Company (NYSE:GM), a notable value stock from Buffett’s Q3 portfolio, is also actively working on electric vehicles, gearing up to compete with the EV market leader, Tesla, Inc. (NASDAQ:TSLA).</p><p><blockquote>通用汽车公司（NYSE:GM）股票占伯克希尔-哈撒韦公司第三季度投资组合的 1.07%，该对冲基金持有该公司 31.6 亿美元的头寸。通用汽车公司（纽约证券交易所股票代码：GM）是一家美国跨国汽车制造商，拥有雪佛兰、别克、GMC和凯迪拉克四大核心汽车品牌。通用汽车公司（纽约证券交易所股票代码：GM）是巴菲特第三季度投资组合中著名的价值股，该公司也在积极研发电动汽车，准备与电动汽车市场领导者特斯拉公司（纳斯达克股票代码：TSLA）竞争。</blockquote></p><p> General Motors Company (NYSE:GM), on October 27, announced its third quarter results, posting earnings per share of $1.52, beating estimates by $0.55. The revenue fell by 24.52% year-over-year, amounting to $26.78 billion, missing estimates by $1.10 billion.</p><p><blockquote>通用汽车公司（纽约证券交易所股票代码：GM）于 10 月 27 日公布了第三季度业绩，每股收益为 1.52 美元，超出预期 0.55 美元。收入同比下降24.52%，至267.8亿美元，比预期低11亿美元。</blockquote></p><p> On November 15, Wedbush analyst Daniel Ives kept an Outperform rating and a price target of $85 on General Motors Company (NYSE:GM)’s shares. The analyst stated that the vertical integration capabilities of General Motors Company (NYSE:GM) and conversion of its massive customer base to electric vehicles over the coming years represents a transformational opportunity for the company looking ahead.</p><p><blockquote>11 月 15 日，Wedbush 分析师丹尼尔-艾夫斯（Daniel Ives）维持通用汽车公司（NYSE:GM）股票跑赢大盘评级，目标价为 85 美元。这位分析师表示，通用汽车公司（纽约证券交易所股票代码：GM）的垂直整合能力以及未来几年其庞大客户群向电动汽车的转变，代表着该公司未来的转型机遇。</blockquote></p><p> Harris Associates is one of the leading General Motors Company (NYSE:GM) stakeholders from Q3, holding a $1.82 billion stake in the company, out of a total of 77 funds that were bullish on the stock in the third quarter.</p><p><blockquote>自第三季度以来，Harris Associates 一直是通用汽车公司（纽约证券交易所股票代码：GM）的主要利益相关者之一，持有该公司价值 18.2 亿美元的股份，而第三季度共有 77 只看好该股票的基金。</blockquote></p><p> Here is what Miller Value Partners has to say about General Motors Company (NYSE:GM) in its Q3 2021 investor letter:</p><p><blockquote>以下是 Miller Value Partners 在其 2021 年第三季度投资者信中对通用汽车公司（纽约证券交易所股票代码：GM）的评价：</blockquote></p><p> “Another name we’ve recently purchased and have grown incredibly excited about: General Motors (GM). GM is interesting on many levels. We see it as an attractive investment opportunity and it might be a microcosm of current markets, both past and prospective. Tesla trounced GM over the last decade. Tesla rose 15,797% crushing GM’s 238% increase, which lagged the S&P 500’s 365%. Tesla came out of nowhere creating what many said was the best car ever made. A decade ago, no one saw that coming, including GM. GM’s historical strength led to arrogance. It completely dismissed the threat of any newcomer. Where are we now? Expectations are entirely different. Tesla’s current price embeds 18 years of growth while GM embeds under one year (see a pattern in what we like?!). Tesla’s expectations look even loftier when you consider that in that 18th year, Tesla would be projected to earn $1.35 trillion revenues at very high, Ferrari-type margins. The largest automakers today generate roughly $250 billion revenues at less than half those margins. Tesla’s priced to go where no man (or woman!) has gone before. It’s impossible for Tesla to meet these expectations with auto manufacturing alone. It requires something more. Bulls believe Tesla can dominate an autonomous driving future and make significant money on software subscriptions. We don’t have a view on this other than that Tesla needs to do so to be attractive at the current price. Market expectations for GM, on the other hand, are muted. There appears to be no innovation or growth priced into the stock. Yet GM plans to launch 30 EV (electric vehicles) models globally by 2025 (Tesla has launched a total of 4). GM’s new electric vehicles, like the Hummer and Cadillac Lyric, are extremely impressive. It’s revamping its manufacturing production to be modular, allowing greater speed and adaptability. The entire culture has transformed from a stodgy, bureaucratic old manufacturer to a speedier, more innovative software-enabled automaker. GM currently employs 25,000 software engineers. GM believes it can double revenues by 2030, and improve margins through software and services. GM currently earns $2 billion of high margin software and services revenue, which is more than Tesla. Cruise, GM’s majority owned autonomous company, recently detailed why it sees the potential for $50B in revenues within 6-8 years of its 2023 launch of the Origin vehicle. BrightDrop, its autonomous commercial vehicle unit, looks promising as well with the potential for $10 billion in revenues. We don’t think this optionality is reflected in the current price. Investors started to see the potential after GM’s recent analyst day. We can easily get values for GM more than double its current price of $58. The contrast between GM and Tesla illustrates what we see more broadly in the market, which is why we see more opportunity in classic value names than in the secular growth names. After a decade of dominance, expectations for innovative and disruptive companies are quite high. Many classic value companies were caught flat-footed, but have invested heavily to catch up. Muted expectations don’t reflect their improved prospects.” <b>6. The Bank of New York Mellon Corporation (NYSE:BK)</b></p><p><blockquote>“我们最近购买的另一个品牌让我们无比兴奋：通用汽车公司（GM）。通用汽车在很多方面都很有趣。我们认为它是一个有吸引力的投资机会，它可能是当前市场（包括过去和未来市场）的一个缩影。特斯拉在过去十年中击败了通用汽车。特斯拉上涨了 15,797%，超过了通用汽车 238% 的增幅，后者落后于标普500的 365%。特斯拉凭空出现，创造了许多人所说的有史以来最好的汽车。十年前，没有人预见到这一点，包括通用汽车。通用汽车的历史实力导致了傲慢。它完全排除了任何新来者的威胁。我们现在在哪里？期望完全不同。特斯拉目前的价格包含了 18 年的增长，而通用汽车的增长不到一年（看看我们喜欢的模式？!）。考虑到特斯拉在第 18 个年头的收入预计将达到 1.35 万亿美元，利润率非常高，堪比法拉利，特斯拉的期望就显得更加崇高了。如今，最大的汽车制造商创造了大约 2500 亿美元的收入，但利润率还不到一半。特斯拉的定价是前所未有的。特斯拉仅靠汽车制造业不可能满足这些期望。它需要更多的东西。看涨者相信特斯拉可以主导自动驾驶的未来，并通过软件订阅赚取大量收入。我们对此没有其他看法，只是认为特斯拉需要这样做才能在目前的价格下具有吸引力。另一方面，市场对通用汽车的预期却很低。该股似乎没有创新或增长。然而，通用汽车计划到2025年在全球推出30款EV（电动汽车）车型（特斯拉总共推出了4款）。通用汽车的新型电动汽车，如悍马和凯迪拉克 Lyric，令人印象深刻。该公司正在对其制造生产进行模块化改造，以提高速度和适应性。整个文化已经从一个呆板、官僚主义的老制造商转变为一个更快、更具创新性的软件驱动的汽车制造商。通用汽车目前雇佣了25,000名软件工程师。通用汽车相信，到 2030 年，它可以将收入翻一番，并通过软件和服务提高利润率。通用汽车目前的高利润软件和服务收入为 20 亿美元，超过了特斯拉。通用汽车控股的自动驾驶公司 Cruise 最近详细介绍了为什么它认为在 2023 年推出 Origin 汽车后的 6-8 年内有可能获得 500 亿美元的收入。其自动驾驶商用车部门 BrightDrop 看起来也很有前途，收入潜力达 100 亿美元。我们认为这种选择并没有反映在当前价格中。在通用汽车最近的分析师日之后，投资者开始看到这一潜力。我们可以轻松地获得通用汽车目前 58 美元价格的两倍多的价值。通用汽车和特斯拉之间的对比说明了我们在市场上看到的更广泛的情况，这就是为什么我们在经典价值名称中看到的机会比在长期增长名称中看到的更多。经过十年的主导地位，人们对创新型和颠覆性公司的期望相当高。许多经典价值公司措手不及，但投入巨资迎头赶上。低迷的期望并不反映他们前景的改善。”<b>6. 纽约银行梅隆公司（纽约证券交易所代码：BK）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $3,751,012,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：3,751,012,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 1.27%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：1.27%</i></b></blockquote></p><p></p><p> <b><i>Number of Hedge Fund Holders: 46</i></b></p><p><blockquote><b><i>对冲基金持有人数量：46</i></b></blockquote></p><p> <b><i>P/E Ratio: 14.48</i></b></p><p><blockquote><b><i>市盈率：14.48</i></b></blockquote></p><p> Warren Buffett owned 72.35 million shares in The Bank of New York Mellon Corporation (NYSE:BK), worth $3.75 billion by the end of the third quarter, accounting for 1.27% of the total investment portfolio at Berkshire Hathaway. The Bank of New York Mellon Corporation (NYSE:BK) is a financial services holding company, offering a range of services including corporate banking, investment banking, global wealth management, financial analysis, and private equity.</p><p><blockquote>沃伦·巴菲特持有纽约梅隆银行（纽约证券交易所股票代码：BK）7235万股股票，截至第三季度末价值37.5亿美元，占伯克希尔哈撒韦公司总投资组合的1.27%。纽约梅隆银行（纽约证券交易所股票代码：BK）是一家金融服务控股公司，提供一系列服务，包括企业银行、投资银行、全球财富管理、财务分析和私募股权。</blockquote></p><p> The Bank of New York Mellon Corporation (NYSE:BK) announced on October 19 its Q3 earnings. EPS in the period totaled $1.04, exceeding estimates by $0.04. The $4.04 billion revenue jumped 4.89% year-over-year, outperforming estimates by $88.43 million.</p><p><blockquote>纽约梅隆银行（纽约证券交易所股票代码：BK）于 10 月 19 日公布了第三季度收益。该期间每股收益总计 1.04 美元，超出预期 0.04 美元。40.4亿美元的收入同比增长4.89%，超出预期8843万美元。</blockquote></p><p> Morgan Stanley analyst Betsy Graseck on December 6 downgraded The Bank of New York Mellon Corporation (NYSE:BK) to Underweight from Equal Weight with a $59 price target, citing the stock’s valuation, low loan exposure, and negative operating leverage as reasons for the downgrade.</p><p><blockquote>摩根士丹利分析师贝齐-格拉塞克（Betsy Graseck）于 12 月 6 日将纽约梅隆银行（NYSE:BK）的评级从同等权重下调至跑输大盘，目标价为 59 美元，理由是该股的估值、低贷款敞口和负运营杠杆是下调评级的原因。</blockquote></p><p> First Eagle Investment Management is one of the largest stakeholders of The Bank of New York Mellon Corporation (NYSE:BK) in Q3, with 16.1 million shares worth over $837 million. Overall, 46 hedge funds monitored by Insider Monkey were bullish on The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, down from 52 funds in the preceding quarter.</p><p><blockquote>First Eagle Investment Management 是第三季度纽约梅隆银行（纽约证券交易所股票代码：BK）最大的股东之一，持有 1610 万股股票，价值超过 8.37 亿美元。总体而言，Insider Monkey 监测的 46 家对冲基金第三季度看好纽约梅隆银行（纽约证券交易所股票代码：BK），低于上一季度的 52 家。</blockquote></p><p> The Bank of New York Mellon Corporation (NYSE:BK) is a notable stock from Warren Buffett’s Q3 portfolio, just like Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN).</p><p><blockquote>纽约梅隆银行（NYSE:BK）是巴菲特第三季度投资组合中的一只著名股票，就像苹果公司（NASDAQ:AAPL）、美国运通公司（NYSE:AXP）、可口可乐公司（NYSE:KO）和亚马逊公司（NASDAQ:AMZN）一样。</blockquote></p><p> <b>5. DaVita Inc. (NYSE:DVA)</b></p><p><blockquote><b>5. DaVita Inc.（纽约证券交易所代码：DVA）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $4,196,471,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：4,196,471,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 1.43%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：1.43%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 39</i></b></p><p><blockquote><b><i>对冲基金持有人数量：39</i></b></blockquote></p><p> <b><i>P/E Ratio: 12.37</i></b></p><p><blockquote><b><i>市盈率：12.37</i></b></blockquote></p><p> DaVita Inc. (NYSE:DVA) made it to our list of the best value stocks in Warren Buffett’s portfolio, with the company announcing solid Q3 earnings on October 28, posting an EPS of $2.36, beating estimates by $0.10. Revenue over the period also outperformed estimates by $23.55 million.</p><p><blockquote>DaVita Inc.（纽约证券交易所股票代码：DVA）入选了沃伦-巴菲特投资组合中最有价值股票的名单，该公司于 10 月 28 日公布了稳健的第三季度收益，每股收益为 2.36 美元，比预期高出 0.10 美元。同期收入也超出预期 2355 万美元。</blockquote></p><p> Deutsche Bank analyst Pito Chickering on November 17 lowered the price target on DaVita Inc. (NYSE:DVA) to $150 from $164 and kept a Buy rating on the shares after the capital markets day, stating that the company offers a longer term investment horizon than many investors can be comfortable with.</p><p><blockquote>德意志银行分析师 Pito Chickering 于 11 月 17 日将 DaVita Inc.（纽约证券交易所股票代码：DVA）的目标价从 164 美元下调至 150 美元，并在资本市场日之后维持该股的买入评级，称该公司提供的长期投资期限比许多投资者可以放心。</blockquote></p><p> DaVita Inc. (NYSE:DVA) is a healthcare company primarily focusing on kidney diseases and dialysis support, operating in nine countries in addition to the United States. Warren Buffett holds a $4.19 billion position in DaVita Inc. (NYSE:DVA) as of September this year, with DaVita Inc. (NYSE:DVA) stock accounting for 1.43% of the billionaire’s total investments.</p><p><blockquote>DaVita Inc.（纽约证券交易所股票代码：DVA）是一家主要专注于肾脏疾病和透析支持的医疗保健公司，除美国外，在九个国家开展业务。截至今年 9 月，沃伦-巴菲特持有 DaVita Inc.（纽约证券交易所股票代码：DVA）价值 41.9 亿美元，DaVita Inc.（纽约证券交易所股票代码：DVA）股票占这位亿万富翁总投资的 1.43%。</blockquote></p><p> At the end of the third quarter, 39 hedge funds tracked by Insider Monkey reported owning stakes worth $4.81 billion in DaVita Inc. (NYSE:DVA). This is compared to the same number of funds holding the DaVita Inc. (NYSE:DVA) stock in the preceding quarter, with a total stake value of approximately $5.13 billion.</p><p><blockquote>截至第三季度末，Insider Monkey 追踪的 39 家对冲基金报告称持有 DaVita Inc.（纽约证券交易所股票代码：DVA）价值 48.1 亿美元的股份。相比之下，上一季度持有 DaVita Inc.（纽约证券交易所股票代码：DVA）股票的基金数量相同，总股权价值约为 51.3 亿美元。</blockquote></p><p> Gates Capital Managementincreased its stake in DaVita Inc. (NYSE:DVA) by 5% in the third quarter, and is one of the leading stakeholders of the company, with a $174.1 million position.</p><p><blockquote>盖茨资本管理公司第三季度将其在 DaVita Inc.（纽约证券交易所股票代码：DVA）的股份增加了 5%，是该公司的主要利益相关者之一，持有 1.741 亿美元的头寸。</blockquote></p><p> <b>4. U.S. Bancorp (NYSE:USB)</b></p><p><blockquote><b>4. 合众银行（纽约证券交易所股票代码：USB）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $7,514,279,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：7,514,279,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 2.52%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：2.52%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 42</i></b></p><p><blockquote><b><i>对冲基金持有人数量：42</i></b></blockquote></p><p> <b><i>P/E Ratio: 11.60</i></b></p><p><blockquote><b><i>市盈率：11.60</i></b></blockquote></p><p> U.S. Bancorp (NYSE:USB) is a Minnesota-based bank holding company that operates via its wholly owned subsidiary, U.S. Bank National Association, and offers banking, investment, mortgage, trust, and payment services to customers. As one of the best value stocks in Warren Buffett’s Q3 portfolio, U.S. Bancorp (NYSE:USB) represents 2.52% of the billionaire’s total investments. Berkshire Hathaway owns over 126 million U.S. Bancorp (NYSE:USB) shares, worth $7.51 billion.</p><p><blockquote>U.S. Bancorp（纽约证券交易所股票代码：USB）是一家总部位于明尼苏达州的银行控股公司，通过其全资子公司美国银行全国协会运营，为客户提供银行、投资、抵押贷款、信托和支付服务。作为沃伦-巴菲特第三季度投资组合中最有价值的股票之一，美国合众银行（纽约证券交易所股票代码：USB）占这位亿万富翁总投资的 2.52%。伯克希尔哈撒韦公司拥有超过 1.26 亿股 U.S. Bancorp (NYSE:USB) 股票，价值 75.1 亿美元。</blockquote></p><p> On December 9, UBS analyst Erika Najarian initiated coverage of U.S. Bancorp (NYSE:USB) with a Buy rating and a $70 price target, after the 300 basis points of ROTCE outperformance by the company.</p><p><blockquote>12 月 9 日，瑞银分析师 Erika Najarian 开始对 U.S. Bancorp (NYSE:USB) 进行买入评级，目标价为 70 美元，此前该公司的 ROTCE 表现优于 300 个基点。</blockquote></p><p> U.S. Bancorp (NYSE:USB), on October 14, reported its Q3 results, posting an EPS of $1.30, beating estimates by $0.14. The $5.86 billion revenue also exceeded estimates by $105.32 million.</p><p><blockquote>U.S. Bancorp（纽约证券交易所股票代码：USB）于 10 月 14 日公布了第三季度业绩，每股收益为 1.30 美元，超出预期 0.14 美元。58.6亿美元的收入也超出预期1.0532亿美元。</blockquote></p><p> In Q3 2021, 42 hedge funds in the database of Insider Monkey were long U.S. Bancorp (NYSE:USB), up from 41 funds in the preceding quarter.Yacktman Asset Managementis one of the leading stakeholders of U.S. Bancorp (NYSE:USB), holding a $279.3 million stake in the bank holding company.</p><p><blockquote>2021 年第三季度，Insider Monkey 数据库中有 42 只对冲基金做多 U.S. Bancorp (NYSE:USB)，高于上一季度的 41 只基金。 Yacktman Asset Managementis 是 U.S. Bancorp (NYSE:USB) 的主要利益相关者之一，持有该银行控股公司 2.793 亿美元的股份。</blockquote></p><p> Hereis what Mairs & Power has to say about U.S. Bancorp (NYSE:USB) in their Q4 2020 investor letter:</p><p><blockquote>以下是 Mairs & Power 在 2020 年第四季度投资者信中对 U.S. Bancorp（纽约证券交易所股票代码：USB）的评价：</blockquote></p><p></p><p> “On the negative side, one of the Fund’s biggest detractor in 2020 was U.S. Bancorp (USB). Like all banks, U.S. Bank was hurt by the difficult interest rate environment and credit cycle concerns. We believe banks are strong enough to survive the current sector doldrums, and they remain some of the market’s most attractive opportunities.” <b>3. Verizon Communications Inc. (NYSE:VZ)</b></p><p><blockquote>“从消极的一面来看，2020 年该基金最大的诋毁者之一是合众银行（USB）。与所有银行一样，合众银行也受到了困难的利率环境和信贷周期担忧的影响。我们相信，银行有足够的实力在当前的行业低迷中生存下来，它们仍然是市场上最具吸引力的机会。”<b>3. 威瑞森通信公司（纽约证券交易所股票代码：VZ）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $8,578,115,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：8,578,115,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 2.92%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：2.92%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 57</i></b></p><p><blockquote><b><i>对冲基金持有人数量：57</i></b></blockquote></p><p> <b><i>P/E Ratio: 9.43</i></b></p><p><blockquote><b><i>市盈率：9.43</i></b></blockquote></p><p> With a price to earnings ratio of 9.43, Verizon Communications Inc. (NYSE:VZ) is one of Warren Buffett’s top value stock picks from the third quarter, with the billionaire holding an $8.57 billion position in the company. Verizon Communications Inc. (NYSE:VZ), an American multinational telecommunications conglomerate, announced a quarterly dividend of $0.64 per share on December 2, payable on February 1 to shareholders of record on January 10. Verizon Communications Inc. (NYSE:VZ) offers a forward dividend yield of 5.10%.</p><p><blockquote>Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的市盈率为 9.43，是沃伦-巴菲特第三季度最看好的股票之一，这位亿万富翁在该公司持有 85.7 亿美元的头寸。美国跨国电信集团 Verizon Communications Inc.（纽约证券交易所股票代码：VZ）于 12 月 2 日宣布派发每股 0.64 美元的季度股息，将于 2 月 1 日支付给 1 月 10 日登记在册的股东。Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的远期股息率为 5.10%。</blockquote></p><p> On October 20, Verizon Communications Inc. (NYSE:VZ) announced Q3 results, posting an EPS of $1.41, beating estimates by $0.05. The quarterly revenue amounted to $32.92 billion, missing estimates by $301.93 million. Following the Q3 performance, Cowen analyst Colby Synesael raised the price target on Verizon Communications Inc. (NYSE:VZ) to $71 from $68 and kept an Outperform rating on the shares.</p><p><blockquote>10 月 20 日，Verizon Communications Inc.（纽约证券交易所股票代码：VZ）公布了第三季度业绩，每股收益为 1.41 美元，超出预期 0.05 美元。季度收入达329.2亿美元，比预期低3.0193亿美元。继第三季度业绩公布后，Cowen 分析师 Colby Synesael 将 Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的目标价从 68 美元上调至 71 美元，并维持该股跑赢大盘评级。</blockquote></p><p> Verizon Communications Inc. (NYSE:VZ) was awarded two contracts worth $34.6 million by the U.S. Department of Energy. The task orders were awarded through the federal government’s Enterprise Infrastructure Solutions contract vehicle on December 1.</p><p><blockquote>Verizon Communications Inc.（纽约证券交易所股票代码：VZ）获得了两份价值 3460 万美元的合同。能源部。这些任务订单于 12 月 1 日通过联邦政府的企业基础设施解决方案合同工具授予。</blockquote></p><p> By the end of the third quarter, 57 hedge funds were bullish on Verizon Communications Inc. (NYSE:VZ), down from 63 funds in the preceding quarter. Jaime Sterne’s Skye Global Management is one of the leading Verizon Communications Inc. (NYSE:VZ) stakeholders from Q3, holding a $282.3 million position in the company.</p><p><blockquote>截至第三季度末，57 家对冲基金看好 Verizon Communications Inc.（纽约证券交易所股票代码：VZ），低于上一季度的 63 家。Jaime Sterne 的 Skye Global Management 是第三季度 Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的主要利益相关者之一，持有该公司价值 2.823 亿美元的股份。</blockquote></p><p> Hereis what Miller/Howard Investments has to say about Verizon Communications Inc. (NYSE:VZ) in its Q1 2021 investor letter:</p><p><blockquote>以下是 Miller/Howard Investments 在其 2021 年第一季度投资者信中对 Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的评价：</blockquote></p><p> “We sold Verizon (VZ) based on concerns over how much they might spend in ongoing spectrum auctions. Management may legitimately view spending billions of dollars to expand their spectrum holdings as necessary, but we believe the payoff will be slow and will make it challenging to grow the dividend at a good pace.” <b>2. American Express Company (NYSE:AXP)</b></p><p><blockquote>“我们出售 Verizon (VZ) 的原因是担心他们在正在进行的频谱拍卖中可能会花费多少钱。管理层可能有理由认为，花费数十亿美元扩大频谱持有量是必要的，但我们认为，回报将是缓慢的，这将使以良好的速度增长股息变得具有挑战性。”<b>2. 美国运通公司（纽约证券交易所代码：AXP）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $25,399,340,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：25,399,340,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 8.65%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：8.65%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 57</i></b></p><p><blockquote><b><i>对冲基金持有人数量：57</i></b></blockquote></p><p> <b><i>P/E Ratio: 17.45</i></b></p><p><blockquote><b><i>市盈率：17.45</i></b></blockquote></p><p> American Express Company (NYSE:AXP), a multinational payment card services company, posted on October 22 its Q3 results. EPS for the period came in at $2.27, exceeding estimates by $0.52. The revenue amounted to $10.93 billion, up 24.88% year-over-year, outperforming estimates by $382.39 million.</p><p><blockquote>跨国支付卡服务公司美国运通公司（纽约证券交易所股票代码：AXP）于 10 月 22 日公布了第三季度业绩。该期间每股收益为 2.27 美元，超出预期 0.52 美元。营收达109.3亿美元，同比增长24.88%，超出预期3.8239亿美元。</blockquote></p><p> 8.65% of Berkshire Hathaway’s Q3 investments are represented by American Express Company (NYSE:AXP) stock, with Warren Buffett holding 151.6 million shares of the company, worth $25.39 billion at the end of September this year. American Express Company (NYSE:AXP) is one of the best value stocks in Warren Buffett’s portfolio.</p><p><blockquote>伯克希尔-哈撒韦公司第三季度投资的 8.65% 是美国运通公司（NYSE:AXP）股票，沃伦-巴菲特持有该公司股票 1.516 亿股，截至今年 9 月底，价值 253.9 亿美元。美国运通公司（纽约证券交易所股票代码：AXP）是沃伦-巴菲特投资组合中最有价值的股票之一。</blockquote></p><p> The smart money took a greater interest in American Express Company (NYSE:AXP) in the third quarter, with 57 hedge funds being bullish on the stock at September end, up from 52 funds holding stakes in American Express Company (NYSE:AXP) in the preceding quarter.Fisher Asset Management is a notable stakeholder of American Express Company (NYSE:AXP) in Q3, with 15.6 million shares valued at $2.61 billion.</p><p><blockquote>精明资金在第三季度对美国运通公司（纽约证券交易所股票代码：AXP）表现出了更大的兴趣，截至 9 月底，有 57 家对冲基金看好该股，高于上一季度持有美国运通公司（纽约证券交易所股票代码：AXP）股份的 52 家基金。费舍尔资产管理公司是第三季度美国运通公司（纽约证券交易所股票代码：AXP）的著名股东，持有 1560 万股股票，价值 26.1 亿美元。</blockquote></p><p> After the Q3 earnings beat, BMO Capital analyst James Fotheringham on October 25 raised the price target on American Express Company (NYSE:AXP) to $151 from $147 but kept a Market Perform rating on the shares. In addition to the strong Q3 earnings, the analyst revised his model for American Express Company (NYSE:AXP) to forecast higher net interest income, lower loan loss provisions, and lower share counts.</p><p><blockquote>在第三季度盈利超出预期后，BMO Capital 分析师 James Fotheringham 于 10 月 25 日将美国运通公司 (NYSE:AXP) 的目标价从 147 美元上调至 151 美元，但维持该股的市场表现评级。除了强劲的第三季度收益外，该分析师还修改了美国运通公司（纽约证券交易所股票代码：AXP）的模型，预测更高的净利息收入、更低的贷款损失准备金和更低的股票数量。</blockquote></p><p> Hereis what ClearBridge Investments has to say about American Express Company (NYSE:AXP) in its Q2 2021 investor letter:</p><p><blockquote>以下是 ClearBridge Investments 在其 2021 年第二季度投资者信中对美国运通公司（纽约证券交易所股票代码：AXP）的评价：</blockquote></p><p></p><p> “In financials, American Express has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.” <b>1. Bank of America Corporation (NYSE:BAC)</b></p><p><blockquote>“在财务方面，美国运通在全球大流行病导致其核心旅游和娱乐业务下降 60% 的情况下，出色地展示了其特许经营权的韧性。该公司以支出为中心的模式得益于财政刺激措施，确保了消费者的活跃，而管理层通过增加数百万个新的消费者和中小企业账户，继续表现出色，这将使特许经营权在中长期内受益。随着旅游和娱乐活动的反弹，我们对公司的前景保持乐观，这增加了我们在本季度的地位。”<b>1. 美国银行公司（纽约证券交易所代码：BAC）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $42,878,771,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：42,878,771,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 14.61%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：14.61%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 72</i></b></p><p><blockquote><b><i>对冲基金持有人数量：72</i></b></blockquote></p><p> <b><i>P/E Ratio: 13.32</i></b></p><p><blockquote><b><i>市盈率：13.32</i></b></blockquote></p><p> Ranking first on our list of the best value stocks in Warren Buffett’s portfolio is Bank of America Corporation (NYSE:BAC), with the billionaire holding more than 1 billion shares worth $42.8 billion by the end of September. Bank of America Corporation (NYSE:BAC) stock represents 14.61% of Warren Buffett’s total Q3 securities.</p><p><blockquote>在沃伦-巴菲特投资组合中最有价值股票榜单中排名第一的是美国银行公司（纽约证券交易所股票代码：BAC），截至 9 月底，这位亿万富翁持有超过 10 亿股股票，价值 428 亿美元。美国银行公司（NYSE:BAC）股票占沃伦-巴菲特第三季度证券总额的 14.61%。</blockquote></p><p> UBS analyst Erika Najarian assumed coverage of Bank of America Corporation (NYSE:BAC) with a Buy rating and a $64 price target on December 9. The analyst named Bank of America Corporation (NYSE:BAC) her top pick among the U.S. large cap banks.</p><p><blockquote>瑞银分析师 Erika Najarian 于 12 月 9 日对美国银行公司（纽约证券交易所股票代码：BAC）给予买入评级，目标价为 64 美元。这位分析师将美国银行公司（纽约证券交易所股票代码：BAC）列为她在美国大型银行中的首选。</blockquote></p><p> Bank of America Corporation (NYSE:BAC), on October 14, announced earnings for the third quarter, posting an EPS of $0.85, beating estimates by $0.15. The revenue was up 11.33% year-over-year, amounting to $22.77 billion, exceeding estimates by $1.16 billion.</p><p><blockquote>美国银行公司（纽约证券交易所股票代码：BAC）于 10 月 14 日公布了第三季度收益，每股收益为 0.85 美元，超出预期 0.15 美元。收入同比增长11.33%，达到227.7亿美元，超出预期11.6亿美元。</blockquote></p><p> In the third quarter, 72 hedge funds were bullish on Bank of America Corporation (NYSE:BAC), holding total stakes valued at $46.48 billion. One of the leading Bank of America Corporation (NYSE:BAC) stakeholders from Q3 isHarris Associates, with a $2.52 billion position in the company.</p><p><blockquote>第三季度，72家对冲基金看好美国银行公司（纽约证券交易所股票代码：BAC），总持股价值464.8亿美元。isHarris Associates 是美国银行公司 (NYSE:BAC) 第三季度的主要利益相关者之一，持有该公司 25.2 亿美元的头寸。</blockquote></p><p> Here is what Oakmark Funds has to say about Bank of America Corporation (NYSE:BAC) in its Q3 2021 investor letter:</p><p><blockquote>以下是 Oakmark Funds 在其 2021 年第三季度投资者信中对美国银行公司 (NYSE:BAC) 的评价：</blockquote></p><p> “Earlier this year, one of our holdings, Bank of America, announced that it was raising its minimum hourly wage from $15 to $20 and would increase it to $25 by 2025. The company received great press for placing the well-being of its employees above profits. But was it really either/or? Bank of America’s chief human resources officer spoke to the bigger picture: “A core tenet of responsible growth is our commitment to being a great place to work…that includes providing strong pay and competitive benefits to help them and their families, so that we continue to attract and retain the best talent.” Bank of America understood that engaged, high-caliber employees are more productive, less prone to turnover and, therefore, less expensive in the long run. Increasing the pay for employees wasn’t elevating employees above shareholders; it was the right thing to do for employees <i>and</i>for shareholders. If an increase to $20 was good, why stop there? Why not $50 per hour? Because the benefits the business receives at $50 don’t justify the expense. The bank would no longer be able to price its products competitively and would lose business. The employees would “win” in the short term, but eventually the lost business would lead to job cuts, meaning both employees and shareholders would lose. The negative effects of stakeholder overreach are no different than when CEOs overreach to inflate short-term profits. Both hurt shareholders <i>and</i>stakeholders.” </p><p><blockquote>“今年早些时候，我们的控股公司之一美国银行宣布将最低时薪从 15 美元提高到 20 美元，并将在 2025 年提高到 25 美元。该公司因将员工的福祉置于利润之上而受到广泛关注。但真的是非此即彼吗？美国银行首席人力资源官从大局出发： “负责任增长的核心原则是我们致力于成为一个好的工作场所.这包括提供丰厚的薪酬和有竞争力的福利，以帮助他们及其家人，从而继续吸引和留住最优秀的人才”。美国银行明白，敬业的高素质员工生产力更高，不易离职，因此从长远来看成本更低。提高员工工资并不能让员工凌驾于股东之上；对员工来说这是正确的做法<i>和</i>对于股东来说。如果涨到20美元是好的，为什么就此打住呢？为什么不是每小时50美元？因为企业以 50 美元的价格获得的利益并不能证明这笔费用是合理的。该银行将不再能够为其产品定价有竞争力，并将失去业务。员工会在短期内 “获胜”，但最终失去的业务将导致裁员，这意味着员工和股东都将遭受损失。利益相关者越权的负面影响与首席执行官越权夸大短期利润没有什么不同。两者都伤害了股东<i>和</i>利益相关者。”</blockquote></p><p></p>","source":"lsy1606273129822","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Best Value Stocks in Warren Buffett’s Portfolio<blockquote>沃伦·巴菲特投资组合中最有价值的 5 只股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 Best Value Stocks in Warren Buffett’s Portfolio<blockquote>沃伦·巴菲特投资组合中最有价值的 5 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Insider Monkey</strong><span class=\"h-time small\">2021-12-16 15:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In this article, we discuss the 10 best value stocks in Warren Buffett’s portfolio.</p><p><blockquote>在本文中，我们将讨论沃伦-巴菲特投资组合中的 10 只最有价值的股票。</blockquote></p><p> Billionaire Warren Buffett is an American business tycoon, legendary value investor, and philanthropist, who is known for his conglomerate holding company, Berkshire Hathaway Inc. (NYSE:BRK-A), which he manages alongside Charlie Munger, who is the vice chairman of the company and the closest associate of Buffett.</p><p><blockquote>亿万富翁沃伦·巴菲特是美国商业大亨、传奇价值投资者和慈善家，以其企业集团控股公司伯克希尔·哈撒韦公司（纽约证券交易所代码：BRK-A）而闻名，他与查理·芒格共同管理该公司副董事长，也是巴菲特最亲密的合伙人。</blockquote></p><p> Buffett manages his investments via his hedge fund,Berkshire Hathaway, which managed about $293.4 billion in 13F securities in the third quarter, gaining approximately $57 billion as compared to the prior-year quarter. Buffett’s portfolio is largely concentrated in the information technology, finance, and consumer staples sectors. The billionaire is known for following the Benjamin Graham school of thought, focusing primarily on value stocks.</p><p><blockquote>巴菲特通过他的对冲基金伯克希尔哈撒韦公司管理他的投资，该公司第三季度管理了约2934亿美元的13F证券，与去年同期相比增加了约570亿美元。巴菲特的投资组合主要集中在信息技术、金融和必需消费品领域。这位亿万富翁以遵循本杰明·格雷厄姆学派而闻名，主要关注价值股。</blockquote></p><p> The legendary investor recommends low-cost index funds for a majority of investors, as some active managers charge heavy management and performance fees, and he doesn’t believe they can beat the market on a consistent basis. In his opinion, amatuer and passive investors are better off betting on an S&P 500 index fund for the long-term, since it would generate returns over the course of a decade that are higher than the returns from a basket of diversified hedge funds after the hedge fund managers are paid their share of the management fees.</p><p><blockquote>这位传奇投资者向大多数投资者推荐低成本指数基金，因为一些主动型基金经理收取高额管理费和业绩费，他不相信这些基金能持续跑赢市场。在他看来，业余和被动投资者最好长期押注标普500指数基金，因为它在十年内产生的回报将高于一篮子多元化对冲基金的回报。对冲基金经理获得管理费份额。</blockquote></p><p> Since Buffett is a long-term investor, he advises people who are starting out their investment journey to buy the stock dips, since the market is eventually going to rise again.</p><p><blockquote>由于巴菲特是一位长期投资者，他建议开始投资之旅的人在股票下跌时买入，因为市场最终会再次上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/95c29fa4a746a9be0316155793ff359c\" tg-width=\"767\" tg-height=\"843\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The most notable stocks in Warren Buffett’s Q3 portfolio include Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN), in addition to others mentioned in detail below.</p><p><blockquote>巴菲特第三季度投资组合中最著名的股票包括苹果公司（纳斯达克股票代码：AAPL）、美国运通公司（纽约证券交易所股票代码：AXP）、可口可乐公司（纽约证券交易所股票代码：KO）和亚马逊公司（纳斯达克股票代码：AMZN），此外还有下文详细提到的其他股票。</blockquote></p><p> <b><i>Our Methodology</i></b></p><p><blockquote><b><i>我们的方法</i></b></blockquote></p><p> We used the Q3 portfolio of Warren Buffett’s Berkshire Hathaway to select his top 10 value stocks. We chose stocks that had the lowest price to earnings ratio in the billionaire’s portfolio, and ranked the securities according to Buffett’s stake value in each holding.</p><p><blockquote>我们利用沃伦-巴菲特（Warren Buffett）的伯克希尔-哈撒韦公司（Berkshire Hathaway）第三季度投资组合，选出了他的十大价值股。我们选择了这位亿万富翁投资组合中市盈率最低的股票，并根据巴菲特在每笔持股中的持股价值对证券进行排名。</blockquote></p><p> <b>Best Value Stocks in Warren Buffett’s Portfolio</b></p><p><blockquote><b>沃伦·巴菲特投资组合中最有价值的股票</b></blockquote></p><p> <b>10. Wells Fargo & Company (NYSE:WFC)</b></p><p><blockquote><b>10. 富国银行公司（纽约证券交易所代码：WFC）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $31,329,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：31,329,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 0.01%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：0.01%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 88</i></b></p><p><blockquote><b><i>对冲基金持有人数量：88</i></b></blockquote></p><p> <b><i>P/E Ratio: 11.98</i></b></p><p><blockquote><b><i>市盈率：11.98</i></b></blockquote></p><p> Wells Fargo & Company (NYSE:WFC) posted its Q3 earnings on October 14. EPS in the quarter totaled $1.22, exceeding estimates by $0.28. Revenue over the period equaled $18.83 billion, outperforming analysts’ consensus estimates by $542.17 million.</p><p><blockquote>富国银行公司（纽约证券交易所股票代码：WFC）于 10 月 14 日公布了第三季度收益。本季度每股收益总计 1.22 美元，超出预期 0.28 美元。同期营收达到 188.3 亿美元，比分析师一致预期高出 5.4217 亿美元。</blockquote></p><p> Warren Buffett holds 675,054 shares in Wells Fargo & Company (NYSE:WFC), an American multinational financial services corporation, as of September this year. Buffett’s stake in Wells Fargo & Company (NYSE:WFC) amounts to $31.32 million, and it accounts for 0.01% of the billionaire’s Q3 portfolio. With a P/E ratio of 11.98, Wells Fargo & Company (NYSE:WFC) is one of the best value stocks in Warren Buffett’s portfolio.</p><p><blockquote>截至今年9月，沃伦·巴菲特持有美国跨国金融服务公司富国银行（纽约证券交易所股票代码：WFC）675,054股股票。巴菲特持有的富国银行（纽约证券交易所股票代码：WFC）股份达 3132 万美元，占这位亿万富翁第三季度投资组合的 0.01%。富国银行（纽约证券交易所股票代码：WFC）的市盈率为 11.98，是沃伦-巴菲特投资组合中最有价值的股票之一。</blockquote></p><p> On December 9, UBS analyst Erika Najarian called Wells Fargo & Company (NYSE:WFC) one of her “highest conviction Buy ideas”, assuming coverage of the stock with a Buy rating and a $65 price target. The analyst sees rising rates and execution of its expense plan driving return on average tangible common shareholders’ equity as attractive catalysts.</p><p><blockquote>12 月 9 日，瑞银（UBS）分析师埃里卡-纳贾里安（Erika Najarian）称富国银行（Wells Fargo & Company，纽约证券交易所股票代码：WFC）是她 “最有说服力的买入想法”之一，她认为该股的评级为买入，目标价为 65 美元。这位分析师认为，利率上升和支出计划的执行推动了有形普通股股东权益的平均回报率，是极具吸引力的催化剂。</blockquote></p><p> A total of 88 hedge funds were bullish on Wells Fargo & Company (NYSE:WFC) at the end of the third quarter, holding stakes worth $6.18 billion. This is comparable to 94 funds holding stakes valued at over $7 billion in Wells Fargo & Company (NYSE:WFC) in the previous quarter.</p><p><blockquote>截至第三季度末，共有88家对冲基金看好富国银行公司（纽约证券交易所股票代码：WFC），持有价值61.8亿美元的股份。这相当于上一季度持有富国银行公司（纽约证券交易所股票代码：WFC）价值超过 70 亿美元股份的 94 只基金。</blockquote></p><p> Boykin Curry’s Eagle Capital Management is the largest Wells Fargo & Company (NYSE:WFC) stakeholder as of the third quarter, holding 33.74 million shares worth $1.56 billion.</p><p><blockquote>截至第三季度，博伊金-库里（Boykin Curry）的鹰资本管理公司（Eagle Capital Management）是富国银行（Wells Fargo & Company，纽约证券交易所股票代码：WFC）最大的股东，持有 3374 万股股票，价值 15.6 亿美元。</blockquote></p><p> Wells Fargo & Company (NYSE:WFC) is a notable stock from Warren Buffett’s Q3 portfolio, in addition to Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN).</p><p><blockquote>富国银行（纽约证券交易所股票代码：WFC）是巴菲特第三季度投资组合中的一只著名股票，此外还有苹果公司（纳斯达克股票代码：AAPL）、美国运通公司（纽约证券交易所股票代码：AXP）、可口可乐公司（纽约证券交易所股票代码：KO）和亚马逊公司（纳斯达克股票代码：AMZN）。</blockquote></p><p> Hereis what Davis Global Fund has to say about Wells Fargo & Company (NYSE:WFC) in its Q3 2021 investor letter:</p><p><blockquote>以下是戴维斯全球基金在其 2021 年第三季度投资者信中对富国银行公司（纽约证券交易所股票代码：WFC）的评价：</blockquote></p><p></p><p> “…This second chart highlights that financials remain the cheapest part of the market today and continue to be extremely attractive. Strong capital ratios, conservative lending practices, already record low interest rates and now a strengthening economy, all paired with low valuations, bode well for future returns. Take our top financials holding in Wells Fargo, for instance. Wells Fargo is trading at 1.3x tangible book value, while we expect return on equity (ROE) to be in the mid-to-high teens over time. Even in this low-rate environment, the current multiple is only 12x 2021 owner earnings, and our IRR estimate is 12–13%. Wells Fargo has performed well this year, up 51% year-to-date, yet still looks very attractive, which speaks to how undervalued it was and why it is so important to be patient when investing in high-quality companies trading at low valuations. Rather than invest on the basis of unpredictable near-term catalysts, we prefer to be patient as earnings and cash build up, even if the stock price does not immediately reflect the economic reality. We continue to like our positions in financials.” <b>9. Teva Pharmaceutical Industries Limited (NYSE:TEVA)</b></p><p><blockquote>“.第二张图表凸显了金融股仍然是当今市场上最便宜的部分，并且仍然极具吸引力。强劲的资本比率、保守的贷款做法、已经创下历史新低的利率以及现在的经济走强，再加上低估值，都预示着未来的回报。以我们持有的富国银行为例。富国银行的交易价格为有形账面价值的 1.3 倍，而我们预计随着时间的推移，股本回报率 (ROE) 将处于中高位。即使在这种低利率环境下，目前的倍数也只有2021年所有者收益的12倍，我们的IRR估计为12-13%。富国银行今年表现良好，今年迄今已上涨 51%，但看起来仍然非常有吸引力，这说明它被低估了多少，以及为什么在投资低估值的优质公司时保持耐心如此重要。与其根据不可预测的近期催化剂进行投资，我们更愿意在盈利和现金积累时保持耐心，即使股价不能立即反映经济现实。我们仍然喜欢我们在金融领域的职位。”<b>9.梯瓦制药工业有限公司（纽约证券交易所代码：TEVA）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $416,768,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：416,768,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 0.14%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：0.14%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 22</i></b></p><p><blockquote><b><i>对冲基金持有人数量：22</i></b></blockquote></p><p> <b><i>P/E Ratio: 12.63</i></b></p><p><blockquote><b><i>市盈率：12.63</i></b></blockquote></p><p> Teva Pharmaceutical Industries Limited (NYSE:TEVA), a pharmaceutical company from Israel specializing in generics and biopharmaceutical medicines, reported its Q3 results on October 27. Teva Pharmaceutical Industries Limited (NYSE:TEVA) posted an EPS of $0.59, missing estimates by $0.06. The Q3 revenue totaled $3.89 billion, down 2.29% year-over-year, missing estimates by $163.2 million.</p><p><blockquote>Teva Pharmaceutical Industries Limited（纽约证券交易所股票代码：TEVA）是一家以色列制药公司，专门从事仿制药和生物制药，于10月27日公布了第三季度业绩。梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）公布的每股收益为 0.59 美元，比预期低 0.06 美元。第三季度营收总计38.9亿美元，同比下降2.29%，比预期低1.632亿美元。</blockquote></p><p> Warren Buffett holds a $416.76 million position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) as of September 2021, which accounts for 0.14% of the billionaire’s total Q3 portfolio.</p><p><blockquote>截至 2021 年 9 月，沃伦-巴菲特持有梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）价值 4.1676 亿美元的头寸，占这位亿万富翁第三季度总投资组合的 0.14%。</blockquote></p><p> Abrams Capital Managementis one of the leading stakeholders of Teva Pharmaceutical Industries Limited (NYSE:TEVA) from the third quarter, owning over 24 million shares valued at $234.2 million.</p><p><blockquote>自第三季度以来，艾布拉姆斯资本管理公司一直是梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）的主要利益相关者之一，拥有超过 2400 万股股票，价值 2.342 亿美元。</blockquote></p><p> Hedge funds increased their stakes in Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the third quarter, with 22 funds holding stakes valued at $950.6 million in the company, as compared to the same number of funds being bullish on Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the preceding quarter, with a total stake value of $947.1 million.</p><p><blockquote>对冲基金第三季度增持梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA），22只基金持有该公司价值9.506亿美元的股份，而同样数量的基金看好梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）上一季度，总股权价值为9.471亿美元。</blockquote></p><p> Raymond James analyst Elliot Wilbur on October 27 downgraded Teva Pharmaceutical Industries Limited (NYSE:TEVA) to Market Perform from Outperform without a price target, stating that near-term fundamentals are coming up short, as compared to the performance expectations from the company.</p><p><blockquote>Raymond James 分析师 Elliot Wilbur 于 10 月 27 日将梯瓦制药工业有限公司（纽约证券交易所股票代码：TEVA）的评级从跑赢大盘下调至市场表现，但没有设定价格目标，并表示与该公司的业绩预期相比，近期基本面不足。</blockquote></p><p> <b>8. Globe Life Inc. (NYSE:GL)</b></p><p><blockquote><b>8. 环球人寿公司（纽约证券交易所股票代码：GL）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $565,672,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：565,672,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 0.19%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：0.19%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 27</i></b></p><p><blockquote><b><i>对冲基金持有人数量：27</i></b></blockquote></p><p> <b><i>P/E Ratio: 12.45</i></b></p><p><blockquote><b><i>市盈率：12.45</i></b></blockquote></p><p> Billionaire Warren Buffett holds 6.35 million shares in Globe Life Inc. (NYSE:GL) as of September this year, worth $565.6 million, accounting for 0.19% of his total Q3 13F portfolio. Globe Life Inc. (NYSE:GL) is a Texas-based financial services holding company that specializes in life insurance, annuity, and supplemental health insurance products.</p><p><blockquote>截至今年 9 月，亿万富翁沃伦·巴菲特持有 Globe Life Inc.（纽约证券交易所股票代码：GL）635 万股股票，价值 5.656 亿美元，占其第三季度 13F 投资组合总额的 0.19%。Globe Life Inc.（纽约证券交易所股票代码：GL）是一家总部位于德克萨斯州的金融服务控股公司，专门从事人寿保险、年金和补充健康保险产品。</blockquote></p><p> Credit Suisse analyst Andrew Kligerman on October 19 lowered the price target on Globe Life Inc. (NYSE:GL) to $130 from $135 and kept an Outperform rating on the shares, stating that despite the COVID-19 pressures on the stock, Globe Life Inc. (NYSE:GL) is trading at an attractive valuation. Globe Life Inc. (NYSE:GL) is one of the top value stocks according to Warren Buffett’s Berkshire Hathaway.</p><p><blockquote>瑞士信贷分析师 Andrew Kligerman 于 10 月 19 日将 Globe Life Inc. (NYSE:GL) 的目标价从 135 美元下调至 130 美元，并维持该股跑赢大盘评级，表示尽管该股面临 COVID-19 压力，Globe Life Inc. (NYSE:GL) 的交易估值颇具吸引力。根据沃伦-巴菲特的伯克希尔-哈撒韦公司的说法，Globe Life Inc.（纽约证券交易所股票代码：GL）是最有价值的股票之一。</blockquote></p><p> Globe Life Inc. (NYSE:GL) announced Q3 earnings on October 20, posting an EPS of $1.78, missing estimates by $0.11. The quarterly revenue jumped 6.93% to $1.28 billion, outperforming estimates by $15.97 million.</p><p><blockquote>Globe Life Inc.（纽约证券交易所股票代码：GL）于 10 月 20 日公布了第三季度收益，每股收益为 1.78 美元，比预期低 0.11 美元。季度收入增长 6.93%，达到 12.8 亿美元，超出预期 1597 万美元。</blockquote></p><p> Insider Monkey tracks the movement of 867 elite hedge funds as of the third quarter, and a total of 27 funds of them reported owning stakes in Globe Life Inc. (NYSE:GL), worth $775.77 million. This is compared to 28 funds being bullish on Globe Life Inc. (NYSE:GL) in the prior quarter, with a total stake value of approximately $795 million.</p><p><blockquote>Insider Monkey 追踪了截至第三季度 867 家精英对冲基金的动向，其中共有 27 家基金报告持有 Globe Life Inc.（纽约证券交易所股票代码：GL）的股份，价值 7.7577 亿美元。相比之下，上一季度有 28 只基金看好 Globe Life Inc.（纽约证券交易所股票代码：GL），总股权价值约为 7.95 亿美元。</blockquote></p><p> In addition to Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN), elite hedge funds are piling into Globe Life Inc. (NYSE:GL).</p><p><blockquote>除了苹果公司（纳斯达克股票代码：AAPL）、美国运通公司（纽约证券交易所股票代码：AXP）、可口可乐公司（纽约证券交易所股票代码：KO）和亚马逊公司（纳斯达克股票代码：AMZN）之外，精英对冲基金也纷纷涌入环球人寿公司（纽约证券交易所股票代码：GL）。</blockquote></p><p> <b>7. General Motors Company (NYSE:GM)</b></p><p><blockquote><b>7. 通用汽车公司（纽约证券交易所代码：GM）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $3,162,600,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：3,162,600,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 1.07%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：1.07%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 77</i></b></p><p><blockquote><b><i>对冲基金持有人数量：77</i></b></blockquote></p><p> <b><i>P/E Ratio: 8.45</i></b></p><p><blockquote><b><i>市盈率：8.45</i></b></blockquote></p><p></p><p> General Motors Company (NYSE:GM) stock represents 1.07% of Berkshire Hathaway’s Q3 portfolio, with the hedge fund holding a $3.16 billion position in the company. General Motors Company (NYSE:GM) is an American multinational automaker, with four core automobile brands including Chevrolet, Buick, GMC, and Cadillac. General Motors Company (NYSE:GM), a notable value stock from Buffett’s Q3 portfolio, is also actively working on electric vehicles, gearing up to compete with the EV market leader, Tesla, Inc. (NASDAQ:TSLA).</p><p><blockquote>通用汽车公司（NYSE:GM）股票占伯克希尔-哈撒韦公司第三季度投资组合的 1.07%，该对冲基金持有该公司 31.6 亿美元的头寸。通用汽车公司（纽约证券交易所股票代码：GM）是一家美国跨国汽车制造商，拥有雪佛兰、别克、GMC和凯迪拉克四大核心汽车品牌。通用汽车公司（纽约证券交易所股票代码：GM）是巴菲特第三季度投资组合中著名的价值股，该公司也在积极研发电动汽车，准备与电动汽车市场领导者特斯拉公司（纳斯达克股票代码：TSLA）竞争。</blockquote></p><p> General Motors Company (NYSE:GM), on October 27, announced its third quarter results, posting earnings per share of $1.52, beating estimates by $0.55. The revenue fell by 24.52% year-over-year, amounting to $26.78 billion, missing estimates by $1.10 billion.</p><p><blockquote>通用汽车公司（纽约证券交易所股票代码：GM）于 10 月 27 日公布了第三季度业绩，每股收益为 1.52 美元，超出预期 0.55 美元。收入同比下降24.52%，至267.8亿美元，比预期低11亿美元。</blockquote></p><p> On November 15, Wedbush analyst Daniel Ives kept an Outperform rating and a price target of $85 on General Motors Company (NYSE:GM)’s shares. The analyst stated that the vertical integration capabilities of General Motors Company (NYSE:GM) and conversion of its massive customer base to electric vehicles over the coming years represents a transformational opportunity for the company looking ahead.</p><p><blockquote>11 月 15 日，Wedbush 分析师丹尼尔-艾夫斯（Daniel Ives）维持通用汽车公司（NYSE:GM）股票跑赢大盘评级，目标价为 85 美元。这位分析师表示，通用汽车公司（纽约证券交易所股票代码：GM）的垂直整合能力以及未来几年其庞大客户群向电动汽车的转变，代表着该公司未来的转型机遇。</blockquote></p><p> Harris Associates is one of the leading General Motors Company (NYSE:GM) stakeholders from Q3, holding a $1.82 billion stake in the company, out of a total of 77 funds that were bullish on the stock in the third quarter.</p><p><blockquote>自第三季度以来，Harris Associates 一直是通用汽车公司（纽约证券交易所股票代码：GM）的主要利益相关者之一，持有该公司价值 18.2 亿美元的股份，而第三季度共有 77 只看好该股票的基金。</blockquote></p><p> Here is what Miller Value Partners has to say about General Motors Company (NYSE:GM) in its Q3 2021 investor letter:</p><p><blockquote>以下是 Miller Value Partners 在其 2021 年第三季度投资者信中对通用汽车公司（纽约证券交易所股票代码：GM）的评价：</blockquote></p><p> “Another name we’ve recently purchased and have grown incredibly excited about: General Motors (GM). GM is interesting on many levels. We see it as an attractive investment opportunity and it might be a microcosm of current markets, both past and prospective. Tesla trounced GM over the last decade. Tesla rose 15,797% crushing GM’s 238% increase, which lagged the S&P 500’s 365%. Tesla came out of nowhere creating what many said was the best car ever made. A decade ago, no one saw that coming, including GM. GM’s historical strength led to arrogance. It completely dismissed the threat of any newcomer. Where are we now? Expectations are entirely different. Tesla’s current price embeds 18 years of growth while GM embeds under one year (see a pattern in what we like?!). Tesla’s expectations look even loftier when you consider that in that 18th year, Tesla would be projected to earn $1.35 trillion revenues at very high, Ferrari-type margins. The largest automakers today generate roughly $250 billion revenues at less than half those margins. Tesla’s priced to go where no man (or woman!) has gone before. It’s impossible for Tesla to meet these expectations with auto manufacturing alone. It requires something more. Bulls believe Tesla can dominate an autonomous driving future and make significant money on software subscriptions. We don’t have a view on this other than that Tesla needs to do so to be attractive at the current price. Market expectations for GM, on the other hand, are muted. There appears to be no innovation or growth priced into the stock. Yet GM plans to launch 30 EV (electric vehicles) models globally by 2025 (Tesla has launched a total of 4). GM’s new electric vehicles, like the Hummer and Cadillac Lyric, are extremely impressive. It’s revamping its manufacturing production to be modular, allowing greater speed and adaptability. The entire culture has transformed from a stodgy, bureaucratic old manufacturer to a speedier, more innovative software-enabled automaker. GM currently employs 25,000 software engineers. GM believes it can double revenues by 2030, and improve margins through software and services. GM currently earns $2 billion of high margin software and services revenue, which is more than Tesla. Cruise, GM’s majority owned autonomous company, recently detailed why it sees the potential for $50B in revenues within 6-8 years of its 2023 launch of the Origin vehicle. BrightDrop, its autonomous commercial vehicle unit, looks promising as well with the potential for $10 billion in revenues. We don’t think this optionality is reflected in the current price. Investors started to see the potential after GM’s recent analyst day. We can easily get values for GM more than double its current price of $58. The contrast between GM and Tesla illustrates what we see more broadly in the market, which is why we see more opportunity in classic value names than in the secular growth names. After a decade of dominance, expectations for innovative and disruptive companies are quite high. Many classic value companies were caught flat-footed, but have invested heavily to catch up. Muted expectations don’t reflect their improved prospects.” <b>6. The Bank of New York Mellon Corporation (NYSE:BK)</b></p><p><blockquote>“我们最近购买的另一个品牌让我们无比兴奋：通用汽车公司（GM）。通用汽车在很多方面都很有趣。我们认为它是一个有吸引力的投资机会，它可能是当前市场（包括过去和未来市场）的一个缩影。特斯拉在过去十年中击败了通用汽车。特斯拉上涨了 15,797%，超过了通用汽车 238% 的增幅，后者落后于标普500的 365%。特斯拉凭空出现，创造了许多人所说的有史以来最好的汽车。十年前，没有人预见到这一点，包括通用汽车。通用汽车的历史实力导致了傲慢。它完全排除了任何新来者的威胁。我们现在在哪里？期望完全不同。特斯拉目前的价格包含了 18 年的增长，而通用汽车的增长不到一年（看看我们喜欢的模式？!）。考虑到特斯拉在第 18 个年头的收入预计将达到 1.35 万亿美元，利润率非常高，堪比法拉利，特斯拉的期望就显得更加崇高了。如今，最大的汽车制造商创造了大约 2500 亿美元的收入，但利润率还不到一半。特斯拉的定价是前所未有的。特斯拉仅靠汽车制造业不可能满足这些期望。它需要更多的东西。看涨者相信特斯拉可以主导自动驾驶的未来，并通过软件订阅赚取大量收入。我们对此没有其他看法，只是认为特斯拉需要这样做才能在目前的价格下具有吸引力。另一方面，市场对通用汽车的预期却很低。该股似乎没有创新或增长。然而，通用汽车计划到2025年在全球推出30款EV（电动汽车）车型（特斯拉总共推出了4款）。通用汽车的新型电动汽车，如悍马和凯迪拉克 Lyric，令人印象深刻。该公司正在对其制造生产进行模块化改造，以提高速度和适应性。整个文化已经从一个呆板、官僚主义的老制造商转变为一个更快、更具创新性的软件驱动的汽车制造商。通用汽车目前雇佣了25,000名软件工程师。通用汽车相信，到 2030 年，它可以将收入翻一番，并通过软件和服务提高利润率。通用汽车目前的高利润软件和服务收入为 20 亿美元，超过了特斯拉。通用汽车控股的自动驾驶公司 Cruise 最近详细介绍了为什么它认为在 2023 年推出 Origin 汽车后的 6-8 年内有可能获得 500 亿美元的收入。其自动驾驶商用车部门 BrightDrop 看起来也很有前途，收入潜力达 100 亿美元。我们认为这种选择并没有反映在当前价格中。在通用汽车最近的分析师日之后，投资者开始看到这一潜力。我们可以轻松地获得通用汽车目前 58 美元价格的两倍多的价值。通用汽车和特斯拉之间的对比说明了我们在市场上看到的更广泛的情况，这就是为什么我们在经典价值名称中看到的机会比在长期增长名称中看到的更多。经过十年的主导地位，人们对创新型和颠覆性公司的期望相当高。许多经典价值公司措手不及，但投入巨资迎头赶上。低迷的期望并不反映他们前景的改善。”<b>6. 纽约银行梅隆公司（纽约证券交易所代码：BK）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $3,751,012,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：3,751,012,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 1.27%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：1.27%</i></b></blockquote></p><p></p><p> <b><i>Number of Hedge Fund Holders: 46</i></b></p><p><blockquote><b><i>对冲基金持有人数量：46</i></b></blockquote></p><p> <b><i>P/E Ratio: 14.48</i></b></p><p><blockquote><b><i>市盈率：14.48</i></b></blockquote></p><p> Warren Buffett owned 72.35 million shares in The Bank of New York Mellon Corporation (NYSE:BK), worth $3.75 billion by the end of the third quarter, accounting for 1.27% of the total investment portfolio at Berkshire Hathaway. The Bank of New York Mellon Corporation (NYSE:BK) is a financial services holding company, offering a range of services including corporate banking, investment banking, global wealth management, financial analysis, and private equity.</p><p><blockquote>沃伦·巴菲特持有纽约梅隆银行（纽约证券交易所股票代码：BK）7235万股股票，截至第三季度末价值37.5亿美元，占伯克希尔哈撒韦公司总投资组合的1.27%。纽约梅隆银行（纽约证券交易所股票代码：BK）是一家金融服务控股公司，提供一系列服务，包括企业银行、投资银行、全球财富管理、财务分析和私募股权。</blockquote></p><p> The Bank of New York Mellon Corporation (NYSE:BK) announced on October 19 its Q3 earnings. EPS in the period totaled $1.04, exceeding estimates by $0.04. The $4.04 billion revenue jumped 4.89% year-over-year, outperforming estimates by $88.43 million.</p><p><blockquote>纽约梅隆银行（纽约证券交易所股票代码：BK）于 10 月 19 日公布了第三季度收益。该期间每股收益总计 1.04 美元，超出预期 0.04 美元。40.4亿美元的收入同比增长4.89%，超出预期8843万美元。</blockquote></p><p> Morgan Stanley analyst Betsy Graseck on December 6 downgraded The Bank of New York Mellon Corporation (NYSE:BK) to Underweight from Equal Weight with a $59 price target, citing the stock’s valuation, low loan exposure, and negative operating leverage as reasons for the downgrade.</p><p><blockquote>摩根士丹利分析师贝齐-格拉塞克（Betsy Graseck）于 12 月 6 日将纽约梅隆银行（NYSE:BK）的评级从同等权重下调至跑输大盘，目标价为 59 美元，理由是该股的估值、低贷款敞口和负运营杠杆是下调评级的原因。</blockquote></p><p> First Eagle Investment Management is one of the largest stakeholders of The Bank of New York Mellon Corporation (NYSE:BK) in Q3, with 16.1 million shares worth over $837 million. Overall, 46 hedge funds monitored by Insider Monkey were bullish on The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, down from 52 funds in the preceding quarter.</p><p><blockquote>First Eagle Investment Management 是第三季度纽约梅隆银行（纽约证券交易所股票代码：BK）最大的股东之一，持有 1610 万股股票，价值超过 8.37 亿美元。总体而言，Insider Monkey 监测的 46 家对冲基金第三季度看好纽约梅隆银行（纽约证券交易所股票代码：BK），低于上一季度的 52 家。</blockquote></p><p> The Bank of New York Mellon Corporation (NYSE:BK) is a notable stock from Warren Buffett’s Q3 portfolio, just like Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN).</p><p><blockquote>纽约梅隆银行（NYSE:BK）是巴菲特第三季度投资组合中的一只著名股票，就像苹果公司（NASDAQ:AAPL）、美国运通公司（NYSE:AXP）、可口可乐公司（NYSE:KO）和亚马逊公司（NASDAQ:AMZN）一样。</blockquote></p><p> <b>5. DaVita Inc. (NYSE:DVA)</b></p><p><blockquote><b>5. DaVita Inc.（纽约证券交易所代码：DVA）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $4,196,471,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：4,196,471,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 1.43%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：1.43%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 39</i></b></p><p><blockquote><b><i>对冲基金持有人数量：39</i></b></blockquote></p><p> <b><i>P/E Ratio: 12.37</i></b></p><p><blockquote><b><i>市盈率：12.37</i></b></blockquote></p><p> DaVita Inc. (NYSE:DVA) made it to our list of the best value stocks in Warren Buffett’s portfolio, with the company announcing solid Q3 earnings on October 28, posting an EPS of $2.36, beating estimates by $0.10. Revenue over the period also outperformed estimates by $23.55 million.</p><p><blockquote>DaVita Inc.（纽约证券交易所股票代码：DVA）入选了沃伦-巴菲特投资组合中最有价值股票的名单，该公司于 10 月 28 日公布了稳健的第三季度收益，每股收益为 2.36 美元，比预期高出 0.10 美元。同期收入也超出预期 2355 万美元。</blockquote></p><p> Deutsche Bank analyst Pito Chickering on November 17 lowered the price target on DaVita Inc. (NYSE:DVA) to $150 from $164 and kept a Buy rating on the shares after the capital markets day, stating that the company offers a longer term investment horizon than many investors can be comfortable with.</p><p><blockquote>德意志银行分析师 Pito Chickering 于 11 月 17 日将 DaVita Inc.（纽约证券交易所股票代码：DVA）的目标价从 164 美元下调至 150 美元，并在资本市场日之后维持该股的买入评级，称该公司提供的长期投资期限比许多投资者可以放心。</blockquote></p><p> DaVita Inc. (NYSE:DVA) is a healthcare company primarily focusing on kidney diseases and dialysis support, operating in nine countries in addition to the United States. Warren Buffett holds a $4.19 billion position in DaVita Inc. (NYSE:DVA) as of September this year, with DaVita Inc. (NYSE:DVA) stock accounting for 1.43% of the billionaire’s total investments.</p><p><blockquote>DaVita Inc.（纽约证券交易所股票代码：DVA）是一家主要专注于肾脏疾病和透析支持的医疗保健公司，除美国外，在九个国家开展业务。截至今年 9 月，沃伦-巴菲特持有 DaVita Inc.（纽约证券交易所股票代码：DVA）价值 41.9 亿美元，DaVita Inc.（纽约证券交易所股票代码：DVA）股票占这位亿万富翁总投资的 1.43%。</blockquote></p><p> At the end of the third quarter, 39 hedge funds tracked by Insider Monkey reported owning stakes worth $4.81 billion in DaVita Inc. (NYSE:DVA). This is compared to the same number of funds holding the DaVita Inc. (NYSE:DVA) stock in the preceding quarter, with a total stake value of approximately $5.13 billion.</p><p><blockquote>截至第三季度末，Insider Monkey 追踪的 39 家对冲基金报告称持有 DaVita Inc.（纽约证券交易所股票代码：DVA）价值 48.1 亿美元的股份。相比之下，上一季度持有 DaVita Inc.（纽约证券交易所股票代码：DVA）股票的基金数量相同，总股权价值约为 51.3 亿美元。</blockquote></p><p> Gates Capital Managementincreased its stake in DaVita Inc. (NYSE:DVA) by 5% in the third quarter, and is one of the leading stakeholders of the company, with a $174.1 million position.</p><p><blockquote>盖茨资本管理公司第三季度将其在 DaVita Inc.（纽约证券交易所股票代码：DVA）的股份增加了 5%，是该公司的主要利益相关者之一，持有 1.741 亿美元的头寸。</blockquote></p><p> <b>4. U.S. Bancorp (NYSE:USB)</b></p><p><blockquote><b>4. 合众银行（纽约证券交易所股票代码：USB）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $7,514,279,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：7,514,279,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 2.52%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：2.52%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 42</i></b></p><p><blockquote><b><i>对冲基金持有人数量：42</i></b></blockquote></p><p> <b><i>P/E Ratio: 11.60</i></b></p><p><blockquote><b><i>市盈率：11.60</i></b></blockquote></p><p> U.S. Bancorp (NYSE:USB) is a Minnesota-based bank holding company that operates via its wholly owned subsidiary, U.S. Bank National Association, and offers banking, investment, mortgage, trust, and payment services to customers. As one of the best value stocks in Warren Buffett’s Q3 portfolio, U.S. Bancorp (NYSE:USB) represents 2.52% of the billionaire’s total investments. Berkshire Hathaway owns over 126 million U.S. Bancorp (NYSE:USB) shares, worth $7.51 billion.</p><p><blockquote>U.S. Bancorp（纽约证券交易所股票代码：USB）是一家总部位于明尼苏达州的银行控股公司，通过其全资子公司美国银行全国协会运营，为客户提供银行、投资、抵押贷款、信托和支付服务。作为沃伦-巴菲特第三季度投资组合中最有价值的股票之一，美国合众银行（纽约证券交易所股票代码：USB）占这位亿万富翁总投资的 2.52%。伯克希尔哈撒韦公司拥有超过 1.26 亿股 U.S. Bancorp (NYSE:USB) 股票，价值 75.1 亿美元。</blockquote></p><p> On December 9, UBS analyst Erika Najarian initiated coverage of U.S. Bancorp (NYSE:USB) with a Buy rating and a $70 price target, after the 300 basis points of ROTCE outperformance by the company.</p><p><blockquote>12 月 9 日，瑞银分析师 Erika Najarian 开始对 U.S. Bancorp (NYSE:USB) 进行买入评级，目标价为 70 美元，此前该公司的 ROTCE 表现优于 300 个基点。</blockquote></p><p> U.S. Bancorp (NYSE:USB), on October 14, reported its Q3 results, posting an EPS of $1.30, beating estimates by $0.14. The $5.86 billion revenue also exceeded estimates by $105.32 million.</p><p><blockquote>U.S. Bancorp（纽约证券交易所股票代码：USB）于 10 月 14 日公布了第三季度业绩，每股收益为 1.30 美元，超出预期 0.14 美元。58.6亿美元的收入也超出预期1.0532亿美元。</blockquote></p><p> In Q3 2021, 42 hedge funds in the database of Insider Monkey were long U.S. Bancorp (NYSE:USB), up from 41 funds in the preceding quarter.Yacktman Asset Managementis one of the leading stakeholders of U.S. Bancorp (NYSE:USB), holding a $279.3 million stake in the bank holding company.</p><p><blockquote>2021 年第三季度，Insider Monkey 数据库中有 42 只对冲基金做多 U.S. Bancorp (NYSE:USB)，高于上一季度的 41 只基金。 Yacktman Asset Managementis 是 U.S. Bancorp (NYSE:USB) 的主要利益相关者之一，持有该银行控股公司 2.793 亿美元的股份。</blockquote></p><p> Hereis what Mairs & Power has to say about U.S. Bancorp (NYSE:USB) in their Q4 2020 investor letter:</p><p><blockquote>以下是 Mairs & Power 在 2020 年第四季度投资者信中对 U.S. Bancorp（纽约证券交易所股票代码：USB）的评价：</blockquote></p><p></p><p> “On the negative side, one of the Fund’s biggest detractor in 2020 was U.S. Bancorp (USB). Like all banks, U.S. Bank was hurt by the difficult interest rate environment and credit cycle concerns. We believe banks are strong enough to survive the current sector doldrums, and they remain some of the market’s most attractive opportunities.” <b>3. Verizon Communications Inc. (NYSE:VZ)</b></p><p><blockquote>“从消极的一面来看，2020 年该基金最大的诋毁者之一是合众银行（USB）。与所有银行一样，合众银行也受到了困难的利率环境和信贷周期担忧的影响。我们相信，银行有足够的实力在当前的行业低迷中生存下来，它们仍然是市场上最具吸引力的机会。”<b>3. 威瑞森通信公司（纽约证券交易所股票代码：VZ）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $8,578,115,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：8,578,115,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 2.92%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：2.92%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 57</i></b></p><p><blockquote><b><i>对冲基金持有人数量：57</i></b></blockquote></p><p> <b><i>P/E Ratio: 9.43</i></b></p><p><blockquote><b><i>市盈率：9.43</i></b></blockquote></p><p> With a price to earnings ratio of 9.43, Verizon Communications Inc. (NYSE:VZ) is one of Warren Buffett’s top value stock picks from the third quarter, with the billionaire holding an $8.57 billion position in the company. Verizon Communications Inc. (NYSE:VZ), an American multinational telecommunications conglomerate, announced a quarterly dividend of $0.64 per share on December 2, payable on February 1 to shareholders of record on January 10. Verizon Communications Inc. (NYSE:VZ) offers a forward dividend yield of 5.10%.</p><p><blockquote>Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的市盈率为 9.43，是沃伦-巴菲特第三季度最看好的股票之一，这位亿万富翁在该公司持有 85.7 亿美元的头寸。美国跨国电信集团 Verizon Communications Inc.（纽约证券交易所股票代码：VZ）于 12 月 2 日宣布派发每股 0.64 美元的季度股息，将于 2 月 1 日支付给 1 月 10 日登记在册的股东。Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的远期股息率为 5.10%。</blockquote></p><p> On October 20, Verizon Communications Inc. (NYSE:VZ) announced Q3 results, posting an EPS of $1.41, beating estimates by $0.05. The quarterly revenue amounted to $32.92 billion, missing estimates by $301.93 million. Following the Q3 performance, Cowen analyst Colby Synesael raised the price target on Verizon Communications Inc. (NYSE:VZ) to $71 from $68 and kept an Outperform rating on the shares.</p><p><blockquote>10 月 20 日，Verizon Communications Inc.（纽约证券交易所股票代码：VZ）公布了第三季度业绩，每股收益为 1.41 美元，超出预期 0.05 美元。季度收入达329.2亿美元，比预期低3.0193亿美元。继第三季度业绩公布后，Cowen 分析师 Colby Synesael 将 Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的目标价从 68 美元上调至 71 美元，并维持该股跑赢大盘评级。</blockquote></p><p> Verizon Communications Inc. (NYSE:VZ) was awarded two contracts worth $34.6 million by the U.S. Department of Energy. The task orders were awarded through the federal government’s Enterprise Infrastructure Solutions contract vehicle on December 1.</p><p><blockquote>Verizon Communications Inc.（纽约证券交易所股票代码：VZ）获得了两份价值 3460 万美元的合同。能源部。这些任务订单于 12 月 1 日通过联邦政府的企业基础设施解决方案合同工具授予。</blockquote></p><p> By the end of the third quarter, 57 hedge funds were bullish on Verizon Communications Inc. (NYSE:VZ), down from 63 funds in the preceding quarter. Jaime Sterne’s Skye Global Management is one of the leading Verizon Communications Inc. (NYSE:VZ) stakeholders from Q3, holding a $282.3 million position in the company.</p><p><blockquote>截至第三季度末，57 家对冲基金看好 Verizon Communications Inc.（纽约证券交易所股票代码：VZ），低于上一季度的 63 家。Jaime Sterne 的 Skye Global Management 是第三季度 Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的主要利益相关者之一，持有该公司价值 2.823 亿美元的股份。</blockquote></p><p> Hereis what Miller/Howard Investments has to say about Verizon Communications Inc. (NYSE:VZ) in its Q1 2021 investor letter:</p><p><blockquote>以下是 Miller/Howard Investments 在其 2021 年第一季度投资者信中对 Verizon Communications Inc.（纽约证券交易所股票代码：VZ）的评价：</blockquote></p><p> “We sold Verizon (VZ) based on concerns over how much they might spend in ongoing spectrum auctions. Management may legitimately view spending billions of dollars to expand their spectrum holdings as necessary, but we believe the payoff will be slow and will make it challenging to grow the dividend at a good pace.” <b>2. American Express Company (NYSE:AXP)</b></p><p><blockquote>“我们出售 Verizon (VZ) 的原因是担心他们在正在进行的频谱拍卖中可能会花费多少钱。管理层可能有理由认为，花费数十亿美元扩大频谱持有量是必要的，但我们认为，回报将是缓慢的，这将使以良好的速度增长股息变得具有挑战性。”<b>2. 美国运通公司（纽约证券交易所代码：AXP）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $25,399,340,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：25,399,340,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 8.65%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：8.65%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 57</i></b></p><p><blockquote><b><i>对冲基金持有人数量：57</i></b></blockquote></p><p> <b><i>P/E Ratio: 17.45</i></b></p><p><blockquote><b><i>市盈率：17.45</i></b></blockquote></p><p> American Express Company (NYSE:AXP), a multinational payment card services company, posted on October 22 its Q3 results. EPS for the period came in at $2.27, exceeding estimates by $0.52. The revenue amounted to $10.93 billion, up 24.88% year-over-year, outperforming estimates by $382.39 million.</p><p><blockquote>跨国支付卡服务公司美国运通公司（纽约证券交易所股票代码：AXP）于 10 月 22 日公布了第三季度业绩。该期间每股收益为 2.27 美元，超出预期 0.52 美元。营收达109.3亿美元，同比增长24.88%，超出预期3.8239亿美元。</blockquote></p><p> 8.65% of Berkshire Hathaway’s Q3 investments are represented by American Express Company (NYSE:AXP) stock, with Warren Buffett holding 151.6 million shares of the company, worth $25.39 billion at the end of September this year. American Express Company (NYSE:AXP) is one of the best value stocks in Warren Buffett’s portfolio.</p><p><blockquote>伯克希尔-哈撒韦公司第三季度投资的 8.65% 是美国运通公司（NYSE:AXP）股票，沃伦-巴菲特持有该公司股票 1.516 亿股，截至今年 9 月底，价值 253.9 亿美元。美国运通公司（纽约证券交易所股票代码：AXP）是沃伦-巴菲特投资组合中最有价值的股票之一。</blockquote></p><p> The smart money took a greater interest in American Express Company (NYSE:AXP) in the third quarter, with 57 hedge funds being bullish on the stock at September end, up from 52 funds holding stakes in American Express Company (NYSE:AXP) in the preceding quarter.Fisher Asset Management is a notable stakeholder of American Express Company (NYSE:AXP) in Q3, with 15.6 million shares valued at $2.61 billion.</p><p><blockquote>精明资金在第三季度对美国运通公司（纽约证券交易所股票代码：AXP）表现出了更大的兴趣，截至 9 月底，有 57 家对冲基金看好该股，高于上一季度持有美国运通公司（纽约证券交易所股票代码：AXP）股份的 52 家基金。费舍尔资产管理公司是第三季度美国运通公司（纽约证券交易所股票代码：AXP）的著名股东，持有 1560 万股股票，价值 26.1 亿美元。</blockquote></p><p> After the Q3 earnings beat, BMO Capital analyst James Fotheringham on October 25 raised the price target on American Express Company (NYSE:AXP) to $151 from $147 but kept a Market Perform rating on the shares. In addition to the strong Q3 earnings, the analyst revised his model for American Express Company (NYSE:AXP) to forecast higher net interest income, lower loan loss provisions, and lower share counts.</p><p><blockquote>在第三季度盈利超出预期后，BMO Capital 分析师 James Fotheringham 于 10 月 25 日将美国运通公司 (NYSE:AXP) 的目标价从 147 美元上调至 151 美元，但维持该股的市场表现评级。除了强劲的第三季度收益外，该分析师还修改了美国运通公司（纽约证券交易所股票代码：AXP）的模型，预测更高的净利息收入、更低的贷款损失准备金和更低的股票数量。</blockquote></p><p> Hereis what ClearBridge Investments has to say about American Express Company (NYSE:AXP) in its Q2 2021 investor letter:</p><p><blockquote>以下是 ClearBridge Investments 在其 2021 年第二季度投资者信中对美国运通公司（纽约证券交易所股票代码：AXP）的评价：</blockquote></p><p></p><p> “In financials, American Express has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.” <b>1. Bank of America Corporation (NYSE:BAC)</b></p><p><blockquote>“在财务方面，美国运通在全球大流行病导致其核心旅游和娱乐业务下降 60% 的情况下，出色地展示了其特许经营权的韧性。该公司以支出为中心的模式得益于财政刺激措施，确保了消费者的活跃，而管理层通过增加数百万个新的消费者和中小企业账户，继续表现出色，这将使特许经营权在中长期内受益。随着旅游和娱乐活动的反弹，我们对公司的前景保持乐观，这增加了我们在本季度的地位。”<b>1. 美国银行公司（纽约证券交易所代码：BAC）</b></blockquote></p><p> <b><i>Berkshire Hathaway’s Stake Value: $42,878,771,000</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司的股权价值：42,878,771,000 美元</i></b></blockquote></p><p> <b><i>Percentage of Berkshire Hathaway’s 13F Portfolio: 14.61%</i></b></p><p><blockquote><b><i>伯克希尔哈撒韦公司 13F 投资组合的百分比：14.61%</i></b></blockquote></p><p> <b><i>Number of Hedge Fund Holders: 72</i></b></p><p><blockquote><b><i>对冲基金持有人数量：72</i></b></blockquote></p><p> <b><i>P/E Ratio: 13.32</i></b></p><p><blockquote><b><i>市盈率：13.32</i></b></blockquote></p><p> Ranking first on our list of the best value stocks in Warren Buffett’s portfolio is Bank of America Corporation (NYSE:BAC), with the billionaire holding more than 1 billion shares worth $42.8 billion by the end of September. Bank of America Corporation (NYSE:BAC) stock represents 14.61% of Warren Buffett’s total Q3 securities.</p><p><blockquote>在沃伦-巴菲特投资组合中最有价值股票榜单中排名第一的是美国银行公司（纽约证券交易所股票代码：BAC），截至 9 月底，这位亿万富翁持有超过 10 亿股股票，价值 428 亿美元。美国银行公司（NYSE:BAC）股票占沃伦-巴菲特第三季度证券总额的 14.61%。</blockquote></p><p> UBS analyst Erika Najarian assumed coverage of Bank of America Corporation (NYSE:BAC) with a Buy rating and a $64 price target on December 9. The analyst named Bank of America Corporation (NYSE:BAC) her top pick among the U.S. large cap banks.</p><p><blockquote>瑞银分析师 Erika Najarian 于 12 月 9 日对美国银行公司（纽约证券交易所股票代码：BAC）给予买入评级，目标价为 64 美元。这位分析师将美国银行公司（纽约证券交易所股票代码：BAC）列为她在美国大型银行中的首选。</blockquote></p><p> Bank of America Corporation (NYSE:BAC), on October 14, announced earnings for the third quarter, posting an EPS of $0.85, beating estimates by $0.15. The revenue was up 11.33% year-over-year, amounting to $22.77 billion, exceeding estimates by $1.16 billion.</p><p><blockquote>美国银行公司（纽约证券交易所股票代码：BAC）于 10 月 14 日公布了第三季度收益，每股收益为 0.85 美元，超出预期 0.15 美元。收入同比增长11.33%，达到227.7亿美元，超出预期11.6亿美元。</blockquote></p><p> In the third quarter, 72 hedge funds were bullish on Bank of America Corporation (NYSE:BAC), holding total stakes valued at $46.48 billion. One of the leading Bank of America Corporation (NYSE:BAC) stakeholders from Q3 isHarris Associates, with a $2.52 billion position in the company.</p><p><blockquote>第三季度，72家对冲基金看好美国银行公司（纽约证券交易所股票代码：BAC），总持股价值464.8亿美元。isHarris Associates 是美国银行公司 (NYSE:BAC) 第三季度的主要利益相关者之一，持有该公司 25.2 亿美元的头寸。</blockquote></p><p> Here is what Oakmark Funds has to say about Bank of America Corporation (NYSE:BAC) in its Q3 2021 investor letter:</p><p><blockquote>以下是 Oakmark Funds 在其 2021 年第三季度投资者信中对美国银行公司 (NYSE:BAC) 的评价：</blockquote></p><p> “Earlier this year, one of our holdings, Bank of America, announced that it was raising its minimum hourly wage from $15 to $20 and would increase it to $25 by 2025. The company received great press for placing the well-being of its employees above profits. But was it really either/or? Bank of America’s chief human resources officer spoke to the bigger picture: “A core tenet of responsible growth is our commitment to being a great place to work…that includes providing strong pay and competitive benefits to help them and their families, so that we continue to attract and retain the best talent.” Bank of America understood that engaged, high-caliber employees are more productive, less prone to turnover and, therefore, less expensive in the long run. Increasing the pay for employees wasn’t elevating employees above shareholders; it was the right thing to do for employees <i>and</i>for shareholders. If an increase to $20 was good, why stop there? Why not $50 per hour? Because the benefits the business receives at $50 don’t justify the expense. The bank would no longer be able to price its products competitively and would lose business. The employees would “win” in the short term, but eventually the lost business would lead to job cuts, meaning both employees and shareholders would lose. The negative effects of stakeholder overreach are no different than when CEOs overreach to inflate short-term profits. Both hurt shareholders <i>and</i>stakeholders.” </p><p><blockquote>“今年早些时候，我们的控股公司之一美国银行宣布将最低时薪从 15 美元提高到 20 美元，并将在 2025 年提高到 25 美元。该公司因将员工的福祉置于利润之上而受到广泛关注。但真的是非此即彼吗？美国银行首席人力资源官从大局出发： “负责任增长的核心原则是我们致力于成为一个好的工作场所.这包括提供丰厚的薪酬和有竞争力的福利，以帮助他们及其家人，从而继续吸引和留住最优秀的人才”。美国银行明白，敬业的高素质员工生产力更高，不易离职，因此从长远来看成本更低。提高员工工资并不能让员工凌驾于股东之上；对员工来说这是正确的做法<i>和</i>对于股东来说。如果涨到20美元是好的，为什么就此打住呢？为什么不是每小时50美元？因为企业以 50 美元的价格获得的利益并不能证明这笔费用是合理的。该银行将不再能够为其产品定价有竞争力，并将失去业务。员工会在短期内 “获胜”，但最终失去的业务将导致裁员，这意味着员工和股东都将遭受损失。利益相关者越权的负面影响与首席执行官越权夸大短期利润没有什么不同。两者都伤害了股东<i>和</i>利益相关者。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.insidermonkey.com/blog/5-best-value-stocks-in-warren-buffetts-portfolio-1013929/5/\">Insider Monkey</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","VZ":"Verizon Comms","GL":"Globe Life Inc.","WFC":"富国银行","GM":"通用汽车","AXP":"美国运通","TEVA":"梯瓦制药","BK":"Bank of New York Mellon","USB":"美国合众银行","DVA":"达维塔保健"},"source_url":"https://www.insidermonkey.com/blog/5-best-value-stocks-in-warren-buffetts-portfolio-1013929/5/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129001294","content_text":"In this article, we discuss the 10 best value stocks in Warren Buffett’s portfolio.\nBillionaire Warren Buffett is an American business tycoon, legendary value investor, and philanthropist, who is known for his conglomerate holding company, Berkshire Hathaway Inc. (NYSE:BRK-A), which he manages alongside Charlie Munger, who is the vice chairman of the company and the closest associate of Buffett.\nBuffett manages his investments via his hedge fund,Berkshire Hathaway, which managed about $293.4 billion in 13F securities in the third quarter, gaining approximately $57 billion as compared to the prior-year quarter. Buffett’s portfolio is largely concentrated in the information technology, finance, and consumer staples sectors. The billionaire is known for following the Benjamin Graham school of thought, focusing primarily on value stocks.\nThe legendary investor recommends low-cost index funds for a majority of investors, as some active managers charge heavy management and performance fees, and he doesn’t believe they can beat the market on a consistent basis. In his opinion, amatuer and passive investors are better off betting on an S&P 500 index fund for the long-term, since it would generate returns over the course of a decade that are higher than the returns from a basket of diversified hedge funds after the hedge fund managers are paid their share of the management fees.\nSince Buffett is a long-term investor, he advises people who are starting out their investment journey to buy the stock dips, since the market is eventually going to rise again.\n\nThe most notable stocks in Warren Buffett’s Q3 portfolio include Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN), in addition to others mentioned in detail below.\nOur Methodology\nWe used the Q3 portfolio of Warren Buffett’s Berkshire Hathaway to select his top 10 value stocks. We chose stocks that had the lowest price to earnings ratio in the billionaire’s portfolio, and ranked the securities according to Buffett’s stake value in each holding.\nBest Value Stocks in Warren Buffett’s Portfolio\n10. Wells Fargo & Company (NYSE:WFC)\nBerkshire Hathaway’s Stake Value: $31,329,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 0.01%\nNumber of Hedge Fund Holders: 88\nP/E Ratio: 11.98\nWells Fargo & Company (NYSE:WFC) posted its Q3 earnings on October 14. EPS in the quarter totaled $1.22, exceeding estimates by $0.28. Revenue over the period equaled $18.83 billion, outperforming analysts’ consensus estimates by $542.17 million.\nWarren Buffett holds 675,054 shares in Wells Fargo & Company (NYSE:WFC), an American multinational financial services corporation, as of September this year. Buffett’s stake in Wells Fargo & Company (NYSE:WFC) amounts to $31.32 million, and it accounts for 0.01% of the billionaire’s Q3 portfolio. With a P/E ratio of 11.98, Wells Fargo & Company (NYSE:WFC) is one of the best value stocks in Warren Buffett’s portfolio.\nOn December 9, UBS analyst Erika Najarian called Wells Fargo & Company (NYSE:WFC) one of her “highest conviction Buy ideas”, assuming coverage of the stock with a Buy rating and a $65 price target. The analyst sees rising rates and execution of its expense plan driving return on average tangible common shareholders’ equity as attractive catalysts.\nA total of 88 hedge funds were bullish on Wells Fargo & Company (NYSE:WFC) at the end of the third quarter, holding stakes worth $6.18 billion. This is comparable to 94 funds holding stakes valued at over $7 billion in Wells Fargo & Company (NYSE:WFC) in the previous quarter.\nBoykin Curry’s Eagle Capital Management is the largest Wells Fargo & Company (NYSE:WFC) stakeholder as of the third quarter, holding 33.74 million shares worth $1.56 billion.\nWells Fargo & Company (NYSE:WFC) is a notable stock from Warren Buffett’s Q3 portfolio, in addition to Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN).\nHereis what Davis Global Fund has to say about Wells Fargo & Company (NYSE:WFC) in its Q3 2021 investor letter:\n\n “…This second chart highlights that financials remain the cheapest part of the market today and continue to be extremely attractive. Strong capital ratios, conservative lending practices, already record low interest rates and now a strengthening economy, all paired with low valuations, bode well for future returns.\n\n\n Take our top financials holding in Wells Fargo, for instance. Wells Fargo is trading at 1.3x tangible book value, while we expect return on equity (ROE) to be in the mid-to-high teens over time. Even in this low-rate environment, the current multiple is only 12x 2021 owner earnings, and our IRR estimate is 12–13%. Wells Fargo has performed well this year, up 51% year-to-date, yet still looks very attractive, which speaks to how undervalued it was and why it is so important to be patient when investing in high-quality companies trading at low valuations. Rather than invest on the basis of unpredictable near-term catalysts, we prefer to be patient as earnings and cash build up, even if the stock price does not immediately reflect the economic reality. We continue to like our positions in financials.”\n\n9. Teva Pharmaceutical Industries Limited (NYSE:TEVA)\nBerkshire Hathaway’s Stake Value: $416,768,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 0.14%\nNumber of Hedge Fund Holders: 22\nP/E Ratio: 12.63\nTeva Pharmaceutical Industries Limited (NYSE:TEVA), a pharmaceutical company from Israel specializing in generics and biopharmaceutical medicines, reported its Q3 results on October 27. Teva Pharmaceutical Industries Limited (NYSE:TEVA) posted an EPS of $0.59, missing estimates by $0.06. The Q3 revenue totaled $3.89 billion, down 2.29% year-over-year, missing estimates by $163.2 million.\nWarren Buffett holds a $416.76 million position in Teva Pharmaceutical Industries Limited (NYSE:TEVA) as of September 2021, which accounts for 0.14% of the billionaire’s total Q3 portfolio.\nAbrams Capital Managementis one of the leading stakeholders of Teva Pharmaceutical Industries Limited (NYSE:TEVA) from the third quarter, owning over 24 million shares valued at $234.2 million.\nHedge funds increased their stakes in Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the third quarter, with 22 funds holding stakes valued at $950.6 million in the company, as compared to the same number of funds being bullish on Teva Pharmaceutical Industries Limited (NYSE:TEVA) in the preceding quarter, with a total stake value of $947.1 million.\nRaymond James analyst Elliot Wilbur on October 27 downgraded Teva Pharmaceutical Industries Limited (NYSE:TEVA) to Market Perform from Outperform without a price target, stating that near-term fundamentals are coming up short, as compared to the performance expectations from the company.\n8. Globe Life Inc. (NYSE:GL)\nBerkshire Hathaway’s Stake Value: $565,672,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 0.19%\nNumber of Hedge Fund Holders: 27\nP/E Ratio: 12.45\nBillionaire Warren Buffett holds 6.35 million shares in Globe Life Inc. (NYSE:GL) as of September this year, worth $565.6 million, accounting for 0.19% of his total Q3 13F portfolio. Globe Life Inc. (NYSE:GL) is a Texas-based financial services holding company that specializes in life insurance, annuity, and supplemental health insurance products.\nCredit Suisse analyst Andrew Kligerman on October 19 lowered the price target on Globe Life Inc. (NYSE:GL) to $130 from $135 and kept an Outperform rating on the shares, stating that despite the COVID-19 pressures on the stock, Globe Life Inc. (NYSE:GL) is trading at an attractive valuation. Globe Life Inc. (NYSE:GL) is one of the top value stocks according to Warren Buffett’s Berkshire Hathaway.\nGlobe Life Inc. (NYSE:GL) announced Q3 earnings on October 20, posting an EPS of $1.78, missing estimates by $0.11. The quarterly revenue jumped 6.93% to $1.28 billion, outperforming estimates by $15.97 million.\nInsider Monkey tracks the movement of 867 elite hedge funds as of the third quarter, and a total of 27 funds of them reported owning stakes in Globe Life Inc. (NYSE:GL), worth $775.77 million. This is compared to 28 funds being bullish on Globe Life Inc. (NYSE:GL) in the prior quarter, with a total stake value of approximately $795 million.\nIn addition to Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN), elite hedge funds are piling into Globe Life Inc. (NYSE:GL).\n7. General Motors Company (NYSE:GM)\nBerkshire Hathaway’s Stake Value: $3,162,600,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 1.07%\nNumber of Hedge Fund Holders: 77\nP/E Ratio: 8.45\nGeneral Motors Company (NYSE:GM) stock represents 1.07% of Berkshire Hathaway’s Q3 portfolio, with the hedge fund holding a $3.16 billion position in the company. General Motors Company (NYSE:GM) is an American multinational automaker, with four core automobile brands including Chevrolet, Buick, GMC, and Cadillac. General Motors Company (NYSE:GM), a notable value stock from Buffett’s Q3 portfolio, is also actively working on electric vehicles, gearing up to compete with the EV market leader, Tesla, Inc. (NASDAQ:TSLA).\nGeneral Motors Company (NYSE:GM), on October 27, announced its third quarter results, posting earnings per share of $1.52, beating estimates by $0.55. The revenue fell by 24.52% year-over-year, amounting to $26.78 billion, missing estimates by $1.10 billion.\nOn November 15, Wedbush analyst Daniel Ives kept an Outperform rating and a price target of $85 on General Motors Company (NYSE:GM)’s shares. The analyst stated that the vertical integration capabilities of General Motors Company (NYSE:GM) and conversion of its massive customer base to electric vehicles over the coming years represents a transformational opportunity for the company looking ahead.\nHarris Associates is one of the leading General Motors Company (NYSE:GM) stakeholders from Q3, holding a $1.82 billion stake in the company, out of a total of 77 funds that were bullish on the stock in the third quarter.\nHere is what Miller Value Partners has to say about General Motors Company (NYSE:GM) in its Q3 2021 investor letter:\n\n “Another name we’ve recently purchased and have grown incredibly excited about: General Motors (GM). GM is interesting on many levels. We see it as an attractive investment opportunity and it might be a microcosm of current markets, both past and prospective.\n\n\n Tesla trounced GM over the last decade. Tesla rose 15,797% crushing GM’s 238% increase, which lagged the S&P 500’s 365%. Tesla came out of nowhere creating what many said was the best car ever made. A decade ago, no one saw that coming, including GM. GM’s historical strength led to arrogance. It completely dismissed the threat of any newcomer.\n\n\n Where are we now? Expectations are entirely different. Tesla’s current price embeds 18 years of growth while GM embeds under one year (see a pattern in what we like?!). Tesla’s expectations look even loftier when you consider that in that 18th year, Tesla would be projected to earn $1.35 trillion revenues at very high, Ferrari-type margins. The largest automakers today generate roughly $250 billion revenues at less than half those margins.\n\n\n Tesla’s priced to go where no man (or woman!) has gone before. It’s impossible for Tesla to meet these expectations with auto manufacturing alone. It requires something more. Bulls believe Tesla can dominate an autonomous driving future and make significant money on software subscriptions. We don’t have a view on this other than that Tesla needs to do so to be attractive at the current price.\n\n\n Market expectations for GM, on the other hand, are muted. There appears to be no innovation or growth priced into the stock. Yet GM plans to launch 30 EV (electric vehicles) models globally by 2025 (Tesla has launched a total of 4). GM’s new electric vehicles, like the Hummer and Cadillac Lyric, are extremely impressive. It’s revamping its manufacturing production to be modular, allowing greater speed and adaptability. The entire culture has transformed from a stodgy, bureaucratic old manufacturer to a speedier, more innovative software-enabled automaker. GM currently employs 25,000 software engineers.\n\n\n GM believes it can double revenues by 2030, and improve margins through software and services. GM currently earns $2 billion of high margin software and services revenue, which is more than Tesla. Cruise, GM’s majority owned autonomous company, recently detailed why it sees the potential for $50B in revenues within 6-8 years of its 2023 launch of the Origin vehicle. BrightDrop, its autonomous commercial vehicle unit, looks promising as well with the potential for $10 billion in revenues. We don’t think this optionality is reflected in the current price. Investors started to see the potential after GM’s recent analyst day. We can easily get values for GM more than double its current price of $58.\n\n\n The contrast between GM and Tesla illustrates what we see more broadly in the market, which is why we see more opportunity in classic value names than in the secular growth names. After a decade of dominance, expectations for innovative and disruptive companies are quite high. Many classic value companies were caught flat-footed, but have invested heavily to catch up. Muted expectations don’t reflect their improved prospects.”\n\n6. The Bank of New York Mellon Corporation (NYSE:BK)\nBerkshire Hathaway’s Stake Value: $3,751,012,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 1.27%\nNumber of Hedge Fund Holders: 46\nP/E Ratio: 14.48\nWarren Buffett owned 72.35 million shares in The Bank of New York Mellon Corporation (NYSE:BK), worth $3.75 billion by the end of the third quarter, accounting for 1.27% of the total investment portfolio at Berkshire Hathaway. The Bank of New York Mellon Corporation (NYSE:BK) is a financial services holding company, offering a range of services including corporate banking, investment banking, global wealth management, financial analysis, and private equity.\nThe Bank of New York Mellon Corporation (NYSE:BK) announced on October 19 its Q3 earnings. EPS in the period totaled $1.04, exceeding estimates by $0.04. The $4.04 billion revenue jumped 4.89% year-over-year, outperforming estimates by $88.43 million.\nMorgan Stanley analyst Betsy Graseck on December 6 downgraded The Bank of New York Mellon Corporation (NYSE:BK) to Underweight from Equal Weight with a $59 price target, citing the stock’s valuation, low loan exposure, and negative operating leverage as reasons for the downgrade.\nFirst Eagle Investment Management is one of the largest stakeholders of The Bank of New York Mellon Corporation (NYSE:BK) in Q3, with 16.1 million shares worth over $837 million. Overall, 46 hedge funds monitored by Insider Monkey were bullish on The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, down from 52 funds in the preceding quarter.\nThe Bank of New York Mellon Corporation (NYSE:BK) is a notable stock from Warren Buffett’s Q3 portfolio, just like Apple Inc. (NASDAQ:AAPL), American Express Company (NYSE:AXP), The Coca-Cola Company (NYSE:KO), and Amazon.com, Inc. (NASDAQ:AMZN).\n5. DaVita Inc. (NYSE:DVA)\nBerkshire Hathaway’s Stake Value: $4,196,471,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 1.43%\nNumber of Hedge Fund Holders: 39\nP/E Ratio: 12.37\nDaVita Inc. (NYSE:DVA) made it to our list of the best value stocks in Warren Buffett’s portfolio, with the company announcing solid Q3 earnings on October 28, posting an EPS of $2.36, beating estimates by $0.10. Revenue over the period also outperformed estimates by $23.55 million.\nDeutsche Bank analyst Pito Chickering on November 17 lowered the price target on DaVita Inc. (NYSE:DVA) to $150 from $164 and kept a Buy rating on the shares after the capital markets day, stating that the company offers a longer term investment horizon than many investors can be comfortable with.\nDaVita Inc. (NYSE:DVA) is a healthcare company primarily focusing on kidney diseases and dialysis support, operating in nine countries in addition to the United States. Warren Buffett holds a $4.19 billion position in DaVita Inc. (NYSE:DVA) as of September this year, with DaVita Inc. (NYSE:DVA) stock accounting for 1.43% of the billionaire’s total investments.\nAt the end of the third quarter, 39 hedge funds tracked by Insider Monkey reported owning stakes worth $4.81 billion in DaVita Inc. (NYSE:DVA). This is compared to the same number of funds holding the DaVita Inc. (NYSE:DVA) stock in the preceding quarter, with a total stake value of approximately $5.13 billion.\nGates Capital Managementincreased its stake in DaVita Inc. (NYSE:DVA) by 5% in the third quarter, and is one of the leading stakeholders of the company, with a $174.1 million position.\n4. U.S. Bancorp (NYSE:USB)\nBerkshire Hathaway’s Stake Value: $7,514,279,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 2.52%\nNumber of Hedge Fund Holders: 42\nP/E Ratio: 11.60\nU.S. Bancorp (NYSE:USB) is a Minnesota-based bank holding company that operates via its wholly owned subsidiary, U.S. Bank National Association, and offers banking, investment, mortgage, trust, and payment services to customers. As one of the best value stocks in Warren Buffett’s Q3 portfolio, U.S. Bancorp (NYSE:USB) represents 2.52% of the billionaire’s total investments. Berkshire Hathaway owns over 126 million U.S. Bancorp (NYSE:USB) shares, worth $7.51 billion.\nOn December 9, UBS analyst Erika Najarian initiated coverage of U.S. Bancorp (NYSE:USB) with a Buy rating and a $70 price target, after the 300 basis points of ROTCE outperformance by the company.\nU.S. Bancorp (NYSE:USB), on October 14, reported its Q3 results, posting an EPS of $1.30, beating estimates by $0.14. The $5.86 billion revenue also exceeded estimates by $105.32 million.\nIn Q3 2021, 42 hedge funds in the database of Insider Monkey were long U.S. Bancorp (NYSE:USB), up from 41 funds in the preceding quarter.Yacktman Asset Managementis one of the leading stakeholders of U.S. Bancorp (NYSE:USB), holding a $279.3 million stake in the bank holding company.\nHereis what Mairs & Power has to say about U.S. Bancorp (NYSE:USB) in their Q4 2020 investor letter:\n\n “On the negative side, one of the Fund’s biggest detractor in 2020 was U.S. Bancorp (USB). Like all banks, U.S. Bank was hurt by the difficult interest rate environment and credit cycle concerns. We believe banks are strong enough to survive the current sector doldrums, and they remain some of the market’s most attractive opportunities.”\n\n3. Verizon Communications Inc. (NYSE:VZ)\nBerkshire Hathaway’s Stake Value: $8,578,115,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 2.92%\nNumber of Hedge Fund Holders: 57\nP/E Ratio: 9.43\nWith a price to earnings ratio of 9.43, Verizon Communications Inc. (NYSE:VZ) is one of Warren Buffett’s top value stock picks from the third quarter, with the billionaire holding an $8.57 billion position in the company. Verizon Communications Inc. (NYSE:VZ), an American multinational telecommunications conglomerate, announced a quarterly dividend of $0.64 per share on December 2, payable on February 1 to shareholders of record on January 10. Verizon Communications Inc. (NYSE:VZ) offers a forward dividend yield of 5.10%.\nOn October 20, Verizon Communications Inc. (NYSE:VZ) announced Q3 results, posting an EPS of $1.41, beating estimates by $0.05. The quarterly revenue amounted to $32.92 billion, missing estimates by $301.93 million. Following the Q3 performance, Cowen analyst Colby Synesael raised the price target on Verizon Communications Inc. (NYSE:VZ) to $71 from $68 and kept an Outperform rating on the shares.\nVerizon Communications Inc. (NYSE:VZ) was awarded two contracts worth $34.6 million by the U.S. Department of Energy. The task orders were awarded through the federal government’s Enterprise Infrastructure Solutions contract vehicle on December 1.\nBy the end of the third quarter, 57 hedge funds were bullish on Verizon Communications Inc. (NYSE:VZ), down from 63 funds in the preceding quarter. Jaime Sterne’s Skye Global Management is one of the leading Verizon Communications Inc. (NYSE:VZ) stakeholders from Q3, holding a $282.3 million position in the company.\nHereis what Miller/Howard Investments has to say about Verizon Communications Inc. (NYSE:VZ) in its Q1 2021 investor letter:\n\n “We sold Verizon (VZ) based on concerns over how much they might spend in ongoing spectrum auctions. Management may legitimately view spending billions of dollars to expand their spectrum holdings as necessary, but we believe the payoff will be slow and will make it challenging to grow the dividend at a good pace.”\n\n2. American Express Company (NYSE:AXP)\nBerkshire Hathaway’s Stake Value: $25,399,340,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 8.65%\nNumber of Hedge Fund Holders: 57\nP/E Ratio: 17.45\nAmerican Express Company (NYSE:AXP), a multinational payment card services company, posted on October 22 its Q3 results. EPS for the period came in at $2.27, exceeding estimates by $0.52. The revenue amounted to $10.93 billion, up 24.88% year-over-year, outperforming estimates by $382.39 million.\n8.65% of Berkshire Hathaway’s Q3 investments are represented by American Express Company (NYSE:AXP) stock, with Warren Buffett holding 151.6 million shares of the company, worth $25.39 billion at the end of September this year. American Express Company (NYSE:AXP) is one of the best value stocks in Warren Buffett’s portfolio.\nThe smart money took a greater interest in American Express Company (NYSE:AXP) in the third quarter, with 57 hedge funds being bullish on the stock at September end, up from 52 funds holding stakes in American Express Company (NYSE:AXP) in the preceding quarter.Fisher Asset Management is a notable stakeholder of American Express Company (NYSE:AXP) in Q3, with 15.6 million shares valued at $2.61 billion.\nAfter the Q3 earnings beat, BMO Capital analyst James Fotheringham on October 25 raised the price target on American Express Company (NYSE:AXP) to $151 from $147 but kept a Market Perform rating on the shares. In addition to the strong Q3 earnings, the analyst revised his model for American Express Company (NYSE:AXP) to forecast higher net interest income, lower loan loss provisions, and lower share counts.\nHereis what ClearBridge Investments has to say about American Express Company (NYSE:AXP) in its Q2 2021 investor letter:\n\n “In financials, American Express has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.”\n\n1. Bank of America Corporation (NYSE:BAC)\nBerkshire Hathaway’s Stake Value: $42,878,771,000\nPercentage of Berkshire Hathaway’s 13F Portfolio: 14.61%\nNumber of Hedge Fund Holders: 72\nP/E Ratio: 13.32\nRanking first on our list of the best value stocks in Warren Buffett’s portfolio is Bank of America Corporation (NYSE:BAC), with the billionaire holding more than 1 billion shares worth $42.8 billion by the end of September. Bank of America Corporation (NYSE:BAC) stock represents 14.61% of Warren Buffett’s total Q3 securities.\nUBS analyst Erika Najarian assumed coverage of Bank of America Corporation (NYSE:BAC) with a Buy rating and a $64 price target on December 9. The analyst named Bank of America Corporation (NYSE:BAC) her top pick among the U.S. large cap banks.\nBank of America Corporation (NYSE:BAC), on October 14, announced earnings for the third quarter, posting an EPS of $0.85, beating estimates by $0.15. The revenue was up 11.33% year-over-year, amounting to $22.77 billion, exceeding estimates by $1.16 billion.\nIn the third quarter, 72 hedge funds were bullish on Bank of America Corporation (NYSE:BAC), holding total stakes valued at $46.48 billion. One of the leading Bank of America Corporation (NYSE:BAC) stakeholders from Q3 isHarris Associates, with a $2.52 billion position in the company.\nHere is what Oakmark Funds has to say about Bank of America Corporation (NYSE:BAC) in its Q3 2021 investor letter:\n\n “Earlier this year, one of our holdings, Bank of America, announced that it was raising its minimum hourly wage from $15 to $20 and would increase it to $25 by 2025. The company received great press for placing the well-being of its employees above profits. But was it really either/or? Bank of America’s chief human resources officer spoke to the bigger picture: “A core tenet of responsible growth is our commitment to being a great place to work…that includes providing strong pay and competitive benefits to help them and their families, so that we continue to attract and retain the best talent.” Bank of America understood that engaged, high-caliber employees are more productive, less prone to turnover and, therefore, less expensive in the long run. Increasing the pay for employees wasn’t elevating employees above shareholders; it was the right thing to do for employees\n andfor shareholders.\n\n\n If an increase to $20 was good, why stop there? Why not $50 per hour? Because the benefits the business receives at $50 don’t justify the expense. The bank would no longer be able to price its products competitively and would lose business. The employees would “win” in the short term, but eventually the lost business would lead to job cuts, meaning both employees and shareholders would lose. The negative effects of stakeholder overreach are no different than when CEOs overreach to inflate short-term profits. Both hurt shareholders\n andstakeholders.”","news_type":1,"symbols_score_info":{"BK":0.9,"BAC":0.9,"GL":0.9,"AXP":0.9,"DVA":0.9,"WFC":0.9,"VZ":0.9,"USB":0.9,"GM":0.9,"TEVA":0.9}},"isVote":1,"tweetType":1,"viewCount":3394,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":55,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/690370450"}
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