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雁门关向东二万五千里
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雁门关向东二万五千里
08-04 09:19
$WTI原油主连 2509(CLmain)$
川普如果只是对印度加税,国际油价不受影响
雁门关向东二万五千里
08-03 17:49
苹果基本废了,抽佣一担禁止,利润少25%.
伯克希尔Q2净利润暴跌59%,现金储备接近历史高位,警告关税将打击业绩
雁门关向东二万五千里
08-02 15:07
高盛反着买,别墅靠大海。
报道:纽铜史诗级暴跌前一天,高盛告诉客户做多铜,自家交易也受创
雁门关向东二万五千里
08-01
害怕泡沫破了。
美国总统特朗普表示,鲍威尔现在必须“大幅”降低利率!
雁门关向东二万五千里
08-01
$英伟达(NVDA)$
对台关税20%,相当于芯片关税了,对达子的利润会有重大影响。
雁门关向东二万五千里
08-01
中国不可能取消进口汽车,芯片关税,所以永远谈不拢。美国只要解决印度后,中国的商品对美国就无关紧要了。
雁门关向东二万五千里
08-01
$英伟达(NVDA)$
肯定是打死都不会承认,你爱信不信。
雁门关向东二万五千里
07-31
人家担心你把H20用在军事数据中心上,
雁门关向东二万五千里
07-31
$英伟达(NVDA)$
对台湾关税大概15%,8月芯片关税20%左右,对英伟达利润肯定有影响,
雁门关向东二万五千里
07-30
$天然气主连 2509(NGmain)$
俄军已经攻入红军城,留给川普的时间不多了。
雁门关向东二万五千里
07-23
$天然气主连 2508(NGmain)$
拉起来,让我做空
雁门关向东二万五千里
07-23
$三倍做空半导体ETF-Direxion Daily(SOXS)$
同志们,赶紧加仓,芯片关税要来了,这次是真的。
雁门关向东二万五千里
07-18
宗庆后和头婚离婚后再婚的,几个儿子是合法婚姻所生,美国籍,在美国挣不了钱,只能回中国内斗争产业。
雁门关向东二万五千里
07-17
$WTI原油2508(CL2508)$
原油供应已经过剩了,67美元太高了。
雁门关向东二万五千里
07-11
$WTI原油主连 2508(CLmain)$
涨过头了。
雁门关向东二万五千里
07-08
$英伟达(NVDA)$
对台25%关税,会严重削弱达子利润。
雁门关向东二万五千里
07-04
就看川普对台湾“关税了,大概率和越南一样20%.
雁门关向东二万五千里
07-03
$三倍做空半导体ETF-Direxion Daily(SOXS)$
这个票就是废柴,13元买的,已经腰斩了。
雁门关向东二万五千里
07-02
$WTI原油主连 2508(CLmain)$
涨过头了,川普很生气,
雁门关向东二万五千里
07-02
$天然气主连 2508(NGmain)$
如果不出意外,下周4.0以上
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川普如果只是对印度加税,国际油价不受影响","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/463930659213472","isVote":1,"tweetType":1,"viewCount":33,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":463704884126208,"gmtCreate":1754214584178,"gmtModify":1754214586036,"author":{"id":"4092177932484180","authorId":"4092177932484180","name":"雁门关向东二万五千里","avatar":"https://static.tigerbbs.com/07291789f4dae4cc64e158f365e7e31b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4092177932484180","authorIdStr":"4092177932484180"},"themes":[],"htmlText":"苹果基本废了,抽佣一担禁止,利润少25%.","listText":"苹果基本废了,抽佣一担禁止,利润少25%.","text":"苹果基本废了,抽佣一担禁止,利润少25%.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/463704884126208","repostId":"1161964019","repostType":4,"repost":{"id":"1161964019","kind":"news","pubTimestamp":1754141625,"share":"https://www.laohu8.com/m/news/1161964019?lang=&edition=full","pubTime":"2025-08-02 21:33","market":"us","language":"zh","title":"伯克希尔Q2净利润暴跌59%,现金储备接近历史高位,警告关税将打击业绩","url":"https://stock-news.laohu8.com/highlight/detail?id=1161964019","media":"华尔街见闻","summary":"伯克希尔Q2营业利润同比下降3.8%,净利润暴跌59%,现金储备为3440亿美元接近历史高位,对特朗普政府实施的严厉关税政策发出强烈警告。\"截至6月底,伯克希尔持有卡夫亨氏27.4%的股份。现金储备三年首次缩水,连续第11个季度净卖出股票第二季度,伯克希尔的现金储备接近历史高位但是为三年来首次下降,在股票市场采取了更加谨慎的态度,成为股票净卖方。","content":"<html><head></head><body><blockquote><p><a href=\"https://laohu8.com/S/BRK.A\">伯克希尔</a>在财报中称,关税等国际贸易政策紧张局势在2025年上半年加速发展,对其多元化业务构成威胁,警告称,"几乎所有经营业务以及股票投资都可能面临不利后果,这可能显著影响未来业绩"。财报还显示,伯克希尔哈撒韦连续第11个季度净卖出股票,第二季度未进行股票回购,截至二季度末前五大持仓分别为<a href=\"https://laohu8.com/S/AXP\">美国运通</a>、<a href=\"https://laohu8.com/S/AAPL\">苹果</a>、<a href=\"https://laohu8.com/S/BAC\">美国银行</a>、<a href=\"https://laohu8.com/S/KO\">可口可乐</a>和<a href=\"https://laohu8.com/S/CVX\">雪佛龙</a>。</p></blockquote><p style=\"text-align: justify;\">伯克希尔Q2营业利润同比下降3.8%,净利润暴跌59%,现金储备3440亿美元接近历史高位但为三年来首次下降,对特朗普政府实施的严厉关税政策发出强烈警告。</p><p style=\"text-align: justify;\">8月2日,伯克希尔二季度交出了一份喜忧参半的成绩单。营业利润111.6亿美元较去年同期下降3.8%,虽然降幅有限,但这一数字反映出公司核心业务面临的结构性压力。更值得注意的是,净利润123.7亿美元同比暴跌59%,这一巨幅下滑很大程度上受到投资组合估值变化的拖累。</p><p style=\"text-align: justify;\">伯克希尔在财报中称,关税等国际贸易政策紧张局势在2025年上半年加速发展,对其多元化业务构成威胁,警告称,"<strong>几乎所有经营业务以及股票投资都可能面临不利后果,这可能显著影响未来业绩</strong>"。受贸易政策影响,旗下服装和玩具品牌收入出现不同程度下滑。</p><p style=\"text-align: justify;\">尽管股价较历史高点下跌超过10%,该公司在2025年上半年并未回购任何股票。现年94岁的巴菲特此前宣布将于今年底卸任CEO职务,Greg Abel将接任这一角色。</p><p style=\"text-align: justify;\"><strong>以下为伯克希尔二季度财报要点:</strong></p><ul style=\"\"><li><p style=\"text-align: justify;\"><strong>营收</strong>:Q2营收925.15亿美元,市场预期919.63亿美元,上年同期936.53亿美元;</p></li><li><p style=\"text-align: justify;\"><strong>营业利润</strong>:Q2营业利润111.6亿美元,同比下降3.8%;</p></li><li><p style=\"text-align: justify;\"><strong>净利润</strong>:Q2净利润123.7亿美元,市场预期107.03亿美元,上年同期303.48亿美元;上半年净利润170亿美元,同比下降60.6%;</p></li><li><p style=\"text-align: justify;\"><strong>投资净收益</strong>:Q2投资净收益49.7亿美元,上年同期为187.5亿美元;</p></li><li><p style=\"text-align: justify;\"><strong>每股收益</strong>:Q2 EPS为8601美元,市场预期7443美元,上年同期21122美元;</p></li><li><p style=\"text-align: justify;\"><strong>现金储备</strong>:截至二季度末现金及现金等价物达3441亿美元,为三年来首次下降。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b982c5ce8e66a318c9c4acf834053ee0\" title=\"\" tg-width=\"792\" tg-height=\"796\"/></p><p style=\"text-align: justify;\"><strong>核心业务进展</strong></p><ul style=\"\"><li><p><strong>保险承保:</strong>承保利润25亿美元,但因南加州野火损失约12亿美元而拖累业绩;保险承保业务收入19.9亿美元,同比下降12%;保险投资业务收入33.7亿美元,同比增长1.4%;</p></li><li><p><strong>BNSF铁路:</strong>营业效率提升,税后净利润同比增长19.5%至14.7亿美元;</p></li><li><p><strong>伯克希尔能源:</strong>营业利润7.02亿美元,同比增长7.2%;</p></li><li><p style=\"text-align: justify;\"><strong>制造业、服务业及零售业务:</strong>营业利润36亿美元,同比增长6.5%。</p></li></ul><p style=\"text-align: justify;\"><strong>投资组合变化</strong></p><ul style=\"\"><li><p><strong>股票投资收益:</strong>第二季度投资收益64亿美元,但上半年为净损失710万美元;</p></li><li><p><strong>权益法投资重大减值:</strong>对<a href=\"https://laohu8.com/S/KHC\">卡夫亨氏</a>投资确认38亿美元减值损失。</p></li></ul><p style=\"text-align: justify;\">财报显示,从业务板块来看,BNSF铁路运输业务成为最大亮点,<strong>经营收入14.7亿美元,同比增长19%</strong>。这一强劲表现可能反映了美国商品运输需求的复苏,以及BNSF在定价能力方面的优势。</p><p style=\"text-align: justify;\">相比之下,<strong>保险承保业务表现令人失望,营业收入19.9亿美元,同比下降12%</strong>。这一下滑可能反映了保险市场竞争加剧以及理赔成本上升的双重压力。</p><p style=\"text-align: justify;\">不过,保险投资业务收入33.7亿美元,同比小幅增长1.4%,在当前利率环境下这一表现尚可接受。值得关注的是,保险浮存金规模维持在1740亿美元,继续为伯克希尔提供巨额低成本资金用于投资。</p><p style=\"text-align: justify;\">财报还显示,伯克希尔哈撒韦<strong>连续第11个季度净卖出股票,第二季度未进行股票回购</strong>,截至二季度末前五大持仓分别为<strong>美国运通、苹果、美国银行、可口可乐和雪佛龙</strong>。</p><p style=\"text-align: justify;\">此外,该公司还持有<a href=\"https://laohu8.com/S/OXY\">西方石油</a>公司的普通股股份,根据权益法进行核算。据伯克希尔披露,截至二季度末,其持有1.516亿股美国运通普通股,占美国运通已发行普通股的21.8%。</p><h2 id=\"id_969553336\">承保业务喜忧参半,巨灾风险管控仍是关键</h2><p style=\"text-align: justify;\">保险承保业务呈现出典型的周期性特征。<strong>汽车保险公司Geico第二季度税前承保收益增长2%至18亿美元</strong>。该部门承保费用在此期间激增40%,因为公司加大支出以增加保单数量。</p><p style=\"text-align: justify;\"><strong>虽然第二季度实现了25亿美元的承保利润,但上半年却因南加州野火造成约12亿美元损失而业绩承压。</strong></p><p style=\"text-align: justify;\">更值得关注的是,<a href=\"https://laohu8.com/S/601099\">太平洋</a>电力公司(PacifiCorp)面临的野火诉讼风险正在积聚。截至目前,该公司已累计计提约27.5亿美元的野火相关损失准备,但诉讼的最终结果仍存在较大不确定性。</p><p style=\"text-align: justify;\">这一情况凸显了伯克希尔在巨灾风险管控方面面临的挑战。虽然公司长期以来以卓越的风险管理能力著称,但气候变化导致的极端天气事件频发,正在重新定义保险行业的风险边界。</p><h2 id=\"id_2797938345\">投资收益波动剧烈,权益法投资遭遇重大减值</h2><p style=\"text-align: justify;\">投资业务的表现可谓冰火两重天。第二季度64亿美元的投资收益主要来自于持有证券市价上涨带来的76亿美元未实现收益,但这种纸面财富的波动性极大。</p><p style=\"text-align: justify;\">更值得关注的是,<strong>公司对卡夫亨氏的投资确认了38亿美元的减值损失。</strong>该公司表示,公允价值的持续下跌以及当前经济和其他不确定性因素,导致其认定这一未实现损失非临时性。</p><p style=\"text-align: justify;\">卡夫亨氏股份一直是巴菲特为数不多的投资败笔之一。自2015年卡夫与亨氏合并创建这家包装食品巨头以来,其股价已下跌62%。同期,标普500指数上涨了202%。</p><p style=\"text-align: justify;\">伯克希尔在文件中表示,除了公允价值持续下跌外,该公司还考虑了伯克希尔放弃在卡夫亨氏董事会席位以及卡夫亨氏正在考虑战略交易等因素。伯克希尔表示:</p><blockquote><p style=\"text-align: justify;\">"鉴于这些因素,以及当前经济和其他不确定性,我们认定未实现损失(即我们投资账面价值与公允价值之间的差异)属于非临时性损失。"</p></blockquote><p style=\"text-align: justify;\">截至6月底,伯克希尔持有卡夫亨氏27.4%的股份。</p><h2 id=\"id_908051281\">现金储备三年首次缩水,连续第11个季度净卖出股票</h2><p style=\"text-align: justify;\">第二季度,伯克希尔的现金储备接近历史高位但为三年来首次下降,在股票市场采取了更加谨慎的态度,成为股票净卖方。</p><p style=\"text-align: justify;\">财报显示,伯克希尔现金储备在截至6月的三个月中下降1%至3440亿美元,这是<strong>三年来资金池首次缩水</strong>。此前,由于巴菲特难以找到投资机会,这些资金一直飙升至历史新高。</p><p style=\"text-align: justify;\">第二季度,伯克希尔在股票市场采取了更加谨慎的做法,<strong>在此期间成为持仓股票的净卖方,抛售了约30亿美元的股票</strong>。</p><p style=\"text-align: justify;\">而且,伯克希尔自身也没有进行任何股票回购。尽管该股在巴菲特5月宣布将于年底卸任首席执行官后下跌12%,但他已在回购方面观望约一年时间。</p><h2 id=\"id_331955462\">运营业务稳中有进,但增长动能有限</h2><p style=\"text-align: justify;\">从运营业务来看,<strong>BNSF铁路业务表现相对亮眼,第二季度税后净利润同比增长19.5%</strong>,主要得益于运营效率提升和生产力改善。但货运量增长相对温和,反映了整体经济增长动能的不足。</p><p style=\"text-align: justify;\">制造业、服务业和零售业务的表现则更为复杂。虽然总体收入有所增长,但不同子行业间分化明显。</p><p style=\"text-align: justify;\">特别是消费产品板块,面临着国际贸易政策不确定性带来的订单延迟和出货推迟等问题,这种外部环境的不确定性正在逐步渗透到公司的各个业务层面。</p><h2 id=\"262e45af\">贸易政策冲击消费品牌业务</h2><p style=\"text-align: justify;\">贸易不确定性对伯克希尔旗下消费品牌造成明显冲击。</p><p style=\"text-align: justify;\">财报显示,服装品牌Fruit of the Loom年内收入下滑11.7%,Garan下降10.1%,玩具品牌Jazwares更是暴跌38.5%。</p><p style=\"text-align: justify;\">公司在财报中明确指出,这些下滑"部分源于国际贸易政策和关税带来的不确定性,导致订单和发货延迟"。据央视新闻,特朗普宣布对多个美国贸易伙伴实施新的关税税率,将于8月7日生效。</p></body></html>","source":"lsy1700700604709","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>伯克希尔Q2净利润暴跌59%,现金储备接近历史高位,警告关税将打击业绩</title>\n<style 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margin: 0;line-height: 11px;}\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\">\n伯克希尔Q2净利润暴跌59%,现金储备接近历史高位,警告关税将打击业绩\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-08-02 21:33 北京时间 <a href=https://wallstreetcn.com/articles/3752521><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>伯克希尔在财报中称,关税等国际贸易政策紧张局势在2025年上半年加速发展,对其多元化业务构成威胁,警告称,\"几乎所有经营业务以及股票投资都可能面临不利后果,这可能显著影响未来业绩\"。财报还显示,伯克希尔哈撒韦连续第11个季度净卖出股票,第二季度未进行股票回购,截至二季度末前五大持仓分别为美国运通、苹果、美国银行、可口可乐和雪佛龙。伯克希尔Q2营业利润同比下降3.8%,净利润暴跌59%,现金储备...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3752521\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1b9fef028787bba142fa31212ae49d2","relate_stocks":{"IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BRK.B":"伯克希尔B","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","BRK.A":"伯克希尔","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","LU0971096721.USD":"富达环球金融服务 A","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0149725797.USD":"汇丰美国股市经济规模基金","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","BK4550":"红杉资本持仓","BK4588":"碎股","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC"},"source_url":"https://wallstreetcn.com/articles/3752521","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161964019","content_text":"伯克希尔在财报中称,关税等国际贸易政策紧张局势在2025年上半年加速发展,对其多元化业务构成威胁,警告称,\"几乎所有经营业务以及股票投资都可能面临不利后果,这可能显著影响未来业绩\"。财报还显示,伯克希尔哈撒韦连续第11个季度净卖出股票,第二季度未进行股票回购,截至二季度末前五大持仓分别为美国运通、苹果、美国银行、可口可乐和雪佛龙。伯克希尔Q2营业利润同比下降3.8%,净利润暴跌59%,现金储备3440亿美元接近历史高位但为三年来首次下降,对特朗普政府实施的严厉关税政策发出强烈警告。8月2日,伯克希尔二季度交出了一份喜忧参半的成绩单。营业利润111.6亿美元较去年同期下降3.8%,虽然降幅有限,但这一数字反映出公司核心业务面临的结构性压力。更值得注意的是,净利润123.7亿美元同比暴跌59%,这一巨幅下滑很大程度上受到投资组合估值变化的拖累。伯克希尔在财报中称,关税等国际贸易政策紧张局势在2025年上半年加速发展,对其多元化业务构成威胁,警告称,\"几乎所有经营业务以及股票投资都可能面临不利后果,这可能显著影响未来业绩\"。受贸易政策影响,旗下服装和玩具品牌收入出现不同程度下滑。尽管股价较历史高点下跌超过10%,该公司在2025年上半年并未回购任何股票。现年94岁的巴菲特此前宣布将于今年底卸任CEO职务,Greg Abel将接任这一角色。以下为伯克希尔二季度财报要点:营收:Q2营收925.15亿美元,市场预期919.63亿美元,上年同期936.53亿美元;营业利润:Q2营业利润111.6亿美元,同比下降3.8%;净利润:Q2净利润123.7亿美元,市场预期107.03亿美元,上年同期303.48亿美元;上半年净利润170亿美元,同比下降60.6%;投资净收益:Q2投资净收益49.7亿美元,上年同期为187.5亿美元;每股收益:Q2 EPS为8601美元,市场预期7443美元,上年同期21122美元;现金储备:截至二季度末现金及现金等价物达3441亿美元,为三年来首次下降。核心业务进展保险承保:承保利润25亿美元,但因南加州野火损失约12亿美元而拖累业绩;保险承保业务收入19.9亿美元,同比下降12%;保险投资业务收入33.7亿美元,同比增长1.4%;BNSF铁路:营业效率提升,税后净利润同比增长19.5%至14.7亿美元;伯克希尔能源:营业利润7.02亿美元,同比增长7.2%;制造业、服务业及零售业务:营业利润36亿美元,同比增长6.5%。投资组合变化股票投资收益:第二季度投资收益64亿美元,但上半年为净损失710万美元;权益法投资重大减值:对卡夫亨氏投资确认38亿美元减值损失。财报显示,从业务板块来看,BNSF铁路运输业务成为最大亮点,经营收入14.7亿美元,同比增长19%。这一强劲表现可能反映了美国商品运输需求的复苏,以及BNSF在定价能力方面的优势。相比之下,保险承保业务表现令人失望,营业收入19.9亿美元,同比下降12%。这一下滑可能反映了保险市场竞争加剧以及理赔成本上升的双重压力。不过,保险投资业务收入33.7亿美元,同比小幅增长1.4%,在当前利率环境下这一表现尚可接受。值得关注的是,保险浮存金规模维持在1740亿美元,继续为伯克希尔提供巨额低成本资金用于投资。财报还显示,伯克希尔哈撒韦连续第11个季度净卖出股票,第二季度未进行股票回购,截至二季度末前五大持仓分别为美国运通、苹果、美国银行、可口可乐和雪佛龙。此外,该公司还持有西方石油公司的普通股股份,根据权益法进行核算。据伯克希尔披露,截至二季度末,其持有1.516亿股美国运通普通股,占美国运通已发行普通股的21.8%。承保业务喜忧参半,巨灾风险管控仍是关键保险承保业务呈现出典型的周期性特征。汽车保险公司Geico第二季度税前承保收益增长2%至18亿美元。该部门承保费用在此期间激增40%,因为公司加大支出以增加保单数量。虽然第二季度实现了25亿美元的承保利润,但上半年却因南加州野火造成约12亿美元损失而业绩承压。更值得关注的是,太平洋电力公司(PacifiCorp)面临的野火诉讼风险正在积聚。截至目前,该公司已累计计提约27.5亿美元的野火相关损失准备,但诉讼的最终结果仍存在较大不确定性。这一情况凸显了伯克希尔在巨灾风险管控方面面临的挑战。虽然公司长期以来以卓越的风险管理能力著称,但气候变化导致的极端天气事件频发,正在重新定义保险行业的风险边界。投资收益波动剧烈,权益法投资遭遇重大减值投资业务的表现可谓冰火两重天。第二季度64亿美元的投资收益主要来自于持有证券市价上涨带来的76亿美元未实现收益,但这种纸面财富的波动性极大。更值得关注的是,公司对卡夫亨氏的投资确认了38亿美元的减值损失。该公司表示,公允价值的持续下跌以及当前经济和其他不确定性因素,导致其认定这一未实现损失非临时性。卡夫亨氏股份一直是巴菲特为数不多的投资败笔之一。自2015年卡夫与亨氏合并创建这家包装食品巨头以来,其股价已下跌62%。同期,标普500指数上涨了202%。伯克希尔在文件中表示,除了公允价值持续下跌外,该公司还考虑了伯克希尔放弃在卡夫亨氏董事会席位以及卡夫亨氏正在考虑战略交易等因素。伯克希尔表示:\"鉴于这些因素,以及当前经济和其他不确定性,我们认定未实现损失(即我们投资账面价值与公允价值之间的差异)属于非临时性损失。\"截至6月底,伯克希尔持有卡夫亨氏27.4%的股份。现金储备三年首次缩水,连续第11个季度净卖出股票第二季度,伯克希尔的现金储备接近历史高位但为三年来首次下降,在股票市场采取了更加谨慎的态度,成为股票净卖方。财报显示,伯克希尔现金储备在截至6月的三个月中下降1%至3440亿美元,这是三年来资金池首次缩水。此前,由于巴菲特难以找到投资机会,这些资金一直飙升至历史新高。第二季度,伯克希尔在股票市场采取了更加谨慎的做法,在此期间成为持仓股票的净卖方,抛售了约30亿美元的股票。而且,伯克希尔自身也没有进行任何股票回购。尽管该股在巴菲特5月宣布将于年底卸任首席执行官后下跌12%,但他已在回购方面观望约一年时间。运营业务稳中有进,但增长动能有限从运营业务来看,BNSF铁路业务表现相对亮眼,第二季度税后净利润同比增长19.5%,主要得益于运营效率提升和生产力改善。但货运量增长相对温和,反映了整体经济增长动能的不足。制造业、服务业和零售业务的表现则更为复杂。虽然总体收入有所增长,但不同子行业间分化明显。特别是消费产品板块,面临着国际贸易政策不确定性带来的订单延迟和出货推迟等问题,这种外部环境的不确定性正在逐步渗透到公司的各个业务层面。贸易政策冲击消费品牌业务贸易不确定性对伯克希尔旗下消费品牌造成明显冲击。财报显示,服装品牌Fruit of the Loom年内收入下滑11.7%,Garan下降10.1%,玩具品牌Jazwares更是暴跌38.5%。公司在财报中明确指出,这些下滑\"部分源于国际贸易政策和关税带来的不确定性,导致订单和发货延迟\"。据央视新闻,特朗普宣布对多个美国贸易伙伴实施新的关税税率,将于8月7日生效。","news_type":1,"symbols_score_info":{"BRK.A":1,"BRK.B":1}},"isVote":1,"tweetType":1,"viewCount":34,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":463308861452520,"gmtCreate":1754118446231,"gmtModify":1754118448019,"author":{"id":"4092177932484180","authorId":"4092177932484180","name":"雁门关向东二万五千里","avatar":"https://static.tigerbbs.com/07291789f4dae4cc64e158f365e7e31b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4092177932484180","authorIdStr":"4092177932484180"},"themes":[],"htmlText":"高盛反着买,别墅靠大海。","listText":"高盛反着买,别墅靠大海。","text":"高盛反着买,别墅靠大海。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/463308861452520","repostId":"2556984615","repostType":4,"repost":{"id":"2556984615","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1754091474,"share":"https://www.laohu8.com/m/news/2556984615?lang=&edition=full","pubTime":"2025-08-02 07:37","market":"us","language":"zh","title":"报道:纽铜史诗级暴跌前一天,高盛告诉客户做多铜,自家交易也受创","url":"https://stock-news.laohu8.com/highlight/detail?id=2556984615","media":"华尔街见闻","summary":"特朗普未对主要铜产品加征关税,出乎市场与高盛预期,引发纽约铜价创纪录暴跌22%。就在前一日,高盛仍建议客户买入看涨期权,押注铜价因50%关税将大涨,称价差应扩至35%-40%。结果特朗普豁免铜主力产品关税,纽约铜价暴跌22%,创1988年以来最大单日跌幅,高盛销售团队连发邮件致歉,客户惨亏的同时自家交易部门也蒙受损失。","content":"<html><head></head><body><blockquote><p>特朗普未对主要铜产品加征关税,出乎市场与高盛预期,引发纽约铜价创纪录暴跌22%。就在前一日,高盛仍建议客户买入看涨期权,押注铜价因50%关税将大涨,称价差应扩至35%-40%。结果特朗普豁免铜主力产品关税,纽约铜价暴跌22%,创1988年以来最大单日跌幅,高盛销售团队连发邮件致歉,客户惨亏的同时自家交易部门也蒙受损失。</p></blockquote><p>媒体报道,<a href=\"https://laohu8.com/S/GS\">高盛</a>集团的销售人员在美国总统特朗普宣布关税政策前一天,曾建议对冲基金客户押注美国铜价将大幅上涨,但这一决定最终导致铜价创下史上最大跌幅。</p><p>据知情人士对媒体透露,高盛在周二的一次客户电话会议中表示,特朗普很可能会推进对铜征收50%的关税,并建议客户购买短期期权,如果美国铜价上涨11%,该期权将获得收益。</p><p><strong>但实际上,特朗普在周三下午仅宣布了一项有限的关税措施,完全豁免了主要交易形式的铜,这导致纽约铜价在数小时内暴跌22%。</strong></p><p>当天晚上,高盛商品销售部门向客户发送了一封电子邮件,标题为“无铜关税。我们错了(Mea Culpa)”。</p><p><strong>媒体表示,高盛的误判,凸显出几乎整个铜市场都被此次关税声明打了个措手不及。另有知情人士对媒体称,多个对冲基金和包括高盛在内的银行交易部门都在周三的价格暴跌中蒙受了损失。这一跌幅是自1988年以来美国铜合约有记录以来的两倍历史最大跌幅。</strong></p><p>其他大型银行同样措手不及。花旗集团(Citigroup)的销售人员在周三早上也向客户发出信息称:“我们的交易部门喜欢做铜的套利交易(买COMEX,卖LME)。”</p><h2 id=\"id_3377982772\">高盛建议的期权价值已下跌90%</h2><p>实际上,高盛此前就多次建议客户押注同价上涨。早在7月初,特朗普就宣布铜的关税将为50%,当时的市场预期仅为25%,但美国COMEX铜价当时仅比伦敦金属交易所(LME)全球铜价高出约28%。</p><p>虽然一些客户担心在美国与产铜大国印度尼西亚签署贸易协议后,关税可能会因国家不同而出现豁免,但高盛认为,美国与全球市场之间的价格差应会进一步扩大。在高盛销售人员周二发给客户的电话会议总结中写道,“完全50%的关税”应会使该价差扩大至35%至40%。</p><p><strong>高盛建议客户购买9月到期、执行价为6.25美元的看涨期权——比当时现价高出约11%。但自关税公告和随后的价格崩盘以来,这些期权的价值已经暴跌超过90%。</strong></p><p>同时,高盛研究团队的金属分析师也预测将会有50%的关税,但他们在周一发布的报告中表示,“矿产外交”可能会带来豁免,并建议对其早前推荐的COMEX与LME套利交易进行获利了结。</p></body></html>","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 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href=https://wallstreetcn.com/articles/3752487><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>特朗普未对主要铜产品加征关税,出乎市场与高盛预期,引发纽约铜价创纪录暴跌22%。就在前一日,高盛仍建议客户买入看涨期权,押注铜价因50%关税将大涨,称价差应扩至35%-40%。结果特朗普豁免铜主力产品关税,纽约铜价暴跌22%,创1988年以来最大单日跌幅,高盛销售团队连发邮件致歉,客户惨亏的同时自家交易部门也蒙受损失。媒体报道,高盛集团的销售人员在美国总统特朗普宣布关税政策前一天,曾建议对冲基金...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3752487\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/eeb9a4d452d8568bcc6a2558535ad160","relate_stocks":{"LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","IE0004091025.USD":"BNY MELLON GLOBAL 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Culpa)”。媒体表示,高盛的误判,凸显出几乎整个铜市场都被此次关税声明打了个措手不及。另有知情人士对媒体称,多个对冲基金和包括高盛在内的银行交易部门都在周三的价格暴跌中蒙受了损失。这一跌幅是自1988年以来美国铜合约有记录以来的两倍历史最大跌幅。其他大型银行同样措手不及。花旗集团(Citigroup)的销售人员在周三早上也向客户发出信息称:“我们的交易部门喜欢做铜的套利交易(买COMEX,卖LME)。”高盛建议的期权价值已下跌90%实际上,高盛此前就多次建议客户押注同价上涨。早在7月初,特朗普就宣布铜的关税将为50%,当时的市场预期仅为25%,但美国COMEX铜价当时仅比伦敦金属交易所(LME)全球铜价高出约28%。虽然一些客户担心在美国与产铜大国印度尼西亚签署贸易协议后,关税可能会因国家不同而出现豁免,但高盛认为,美国与全球市场之间的价格差应会进一步扩大。在高盛销售人员周二发给客户的电话会议总结中写道,“完全50%的关税”应会使该价差扩大至35%至40%。高盛建议客户购买9月到期、执行价为6.25美元的看涨期权——比当时现价高出约11%。但自关税公告和随后的价格崩盘以来,这些期权的价值已经暴跌超过90%。同时,高盛研究团队的金属分析师也预测将会有50%的关税,但他们在周一发布的报告中表示,“矿产外交”可能会带来豁免,并建议对其早前推荐的COMEX与LME套利交易进行获利了结。","news_type":1,"symbols_score_info":{"FCX":1}},"isVote":1,"tweetType":1,"viewCount":34,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":463019964223776,"gmtCreate":1754047821908,"gmtModify":1754047823496,"author":{"id":"4092177932484180","authorId":"4092177932484180","name":"雁门关向东二万五千里","avatar":"https://static.tigerbbs.com/07291789f4dae4cc64e158f365e7e31b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4092177932484180","authorIdStr":"4092177932484180"},"themes":[],"htmlText":"害怕泡沫破了。","listText":"害怕泡沫破了。","text":"害怕泡沫破了。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/463019964223776","repostId":"1143327441","repostType":4,"repost":{"id":"1143327441","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1754044748,"share":"https://www.laohu8.com/m/news/1143327441?lang=&edition=full","pubTime":"2025-08-01 18:39","market":"us","language":"zh","title":"美国总统特朗普表示,鲍威尔现在必须“大幅”降低利率!","url":"https://stock-news.laohu8.com/highlight/detail?id=1143327441","media":"老虎资讯综合","summary":"美国总统特朗普飙升鲍威尔现在必须“大幅”降低利率!若不降息,美联储理事会应接手掌管","content":"<html><head></head><body><p>8月1日,美国总统特朗普表示,杰罗姆·鲍威尔,一个顽固的白痴,现在必须大幅降低利率。如果他继续拒绝(降息),理事会应该接管控制权,做所有人都知道必须做的事!</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9c65684ee396e6fcf8d541aa820a23fa\" tg-width=\"545\" tg-height=\"360\"/></p><p></p></body></html>","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>美国总统特朗普表示,鲍威尔现在必须“大幅”降低利率!</title>\n<style 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18:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>8月1日,美国总统特朗普表示,杰罗姆·鲍威尔,一个顽固的白痴,现在必须大幅降低利率。如果他继续拒绝(降息),理事会应该接管控制权,做所有人都知道必须做的事!</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9c65684ee396e6fcf8d541aa820a23fa\" tg-width=\"545\" tg-height=\"360\"/></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3f3a154d875507cb8e94549c01f25e4e","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143327441","content_text":"8月1日,美国总统特朗普表示,杰罗姆·鲍威尔,一个顽固的白痴,现在必须大幅降低利率。如果他继续拒绝(降息),理事会应该接管控制权,做所有人都知道必须做的事!","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":27,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":462900214579536,"gmtCreate":1754018462929,"gmtModify":1754020042601,"author":{"id":"4092177932484180","authorId":"4092177932484180","name":"雁门关向东二万五千里","avatar":"https://static.tigerbbs.com/07291789f4dae4cc64e158f365e7e31b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4092177932484180","authorIdStr":"4092177932484180"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$ </a><v-v data-views=\"0\"></v-v> 对台关税20%,相当于芯片关税了,对达子的利润会有重大影响。","listText":"<a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$ </a><v-v data-views=\"0\"></v-v> 对台关税20%,相当于芯片关税了,对达子的利润会有重大影响。","text":"$英伟达(NVDA)$ 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平价车型至少要等到明年三季度上市,墨西哥和印度新工厂能今年底峻工,明年上半年进设备,调试,8月份能量产毛豆2已很不错了。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/293041178177752","isVote":1,"tweetType":1,"viewCount":8199,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3550390468130901","authorId":"3550390468130901","name":"最稳美股赢家","avatar":"https://static.tigerbbs.com/c5b121d035572f9dfbfe2e7b3b4adbfa","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3550390468130901","idStr":"3550390468130901"},"content":"明年三季度上市,提前两季度就要改造生产线,提前三个季度就要有原型车测试。市场提前两个季度计价。所以按理说今年就要布局了。到时候利好真的落地股价早起飞了","text":"明年三季度上市,提前两季度就要改造生产线,提前三个季度就要有原型车测试。市场提前两个季度计价。所以按理说今年就要布局了。到时候利好真的落地股价早起飞了","html":"明年三季度上市,提前两季度就要改造生产线,提前三个季度就要有原型车测试。市场提前两个季度计价。所以按理说今年就要布局了。到时候利好真的落地股价早起飞了"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":449725215871808,"gmtCreate":1750823053043,"gmtModify":1750823214345,"author":{"id":"4092177932484180","authorId":"4092177932484180","name":"雁门关向东二万五千里","avatar":"https://static.tigerbbs.com/07291789f4dae4cc64e158f365e7e31b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4092177932484180","idStr":"4092177932484180"},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/FUT/NQmain\">$NQ100指数主连 2509(NQmain)$ </a><v-v data-views=\"0\"></v-v>战争都不能让美股下跌吗?","listText":"<a href=\"https://laohu8.com/FUT/NQmain\">$NQ100指数主连 2509(NQmain)$ </a><v-v data-views=\"0\"></v-v>战争都不能让美股下跌吗?","text":"$NQ100指数主连 2509(NQmain)$ 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今晚这货不能涨3个点,说明中概就是狗庄,庄家如果自己不趁热度拉一拉,往后就更没戏。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/290634083361080","isVote":1,"tweetType":1,"viewCount":2561,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"202718568488584","authorId":"202718568488584","name":"左右摇摆的韭菜","avatar":"https://static.laohu8.com/6e5245f02440f03379eeb28d71c9eca0","crmLevel":7,"crmLevelSwitch":0,"authorIdStr":"202718568488584","idStr":"202718568488584"},"content":"哪个庄脑子进水去做大盘股","text":"哪个庄脑子进水去做大盘股","html":"哪个庄脑子进水去做大盘股"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":439296234438736,"gmtCreate":1748269031672,"gmtModify":1748269034201,"author":{"id":"4092177932484180","authorId":"4092177932484180","name":"雁门关向东二万五千里","avatar":"https://static.tigerbbs.com/07291789f4dae4cc64e158f365e7e31b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4092177932484180","idStr":"4092177932484180"},"themes":[],"htmlText":"台积电和美光,在美国扩建了好几个大工厂,产能肯定不能闲着啥?","listText":"台积电和美光,在美国扩建了好几个大工厂,产能肯定不能闲着啥?","text":"台积电和美光,在美国扩建了好几个大工厂,产能肯定不能闲着啥?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/439296234438736","isVote":1,"tweetType":1,"viewCount":763,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":430076487352856,"gmtCreate":1746020613314,"gmtModify":1746020614766,"author":{"id":"4092177932484180","authorId":"4092177932484180","name":"雁门关向东二万五千里","avatar":"https://static.tigerbbs.com/07291789f4dae4cc64e158f365e7e31b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4092177932484180","idStr":"4092177932484180"},"themes":[],"htmlText":"<a 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