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23 июня, 15:01

Frontrunning: June 23

One year after Brexit: Forget euro zone breakup, sterling now deemed riskier (Reuters) Senate Holdouts Seek Upper Hand in Perilous Health Bill Talks (BBG) Senate Bill Poses Risks to Health-Care Companies (WSJ) Trump’s Tape Ruse Risks Fresh Legal Jeopardy in Russia Probe (BBG) Arab states demand Qatar closes Jazeera, cuts back ties to Iran (Reuters) Qatar Seen Rejecting List of Severe Demands to End Gulf Crisis (BBG) Turkey rejects call to shut military base in Qatar (Reuters) From Music to Maps, How Apple’s iPhone Changed Business (WSJ) How Killing Obamacare Might Save Obamacare, For a While (BBG) Baghdadi death near 100 percent certain: Interfax quotes Russian senator (Reuters) Japanese warship takes Asian guests on cruise in defiance of China (Reuters) FBI Director Nominee’s Client List Could Hinder Oversight of Investigations (WSJ) Buffett’s Home Capital Bet Backs Turbulent Canada Housing Market (BBG) China's authorities tighten noose around online video content (Reuters) Deadly London apartment blaze began in Hotpoint fridge freezer, police say (Reuters) Trump’s Steel Tariff Threat Faces Resistance From Lawmakers (WSJ) 'Fair' or 'vague'? EU sizes up May's Brexit rights offer (Reuters) Canada Ponders an Unusual Drug Problem: a Shortage of Marijuana (BBG) North Korea tests rocket engine, possibly for ICBM: U.S. officials (Reuters) Venezuelan soldier shoots protester dead in airbase attack, minister says (Reuters)   Overnight Media Digest WSJ - Qatar Airways said it aims to buy a significant stake in American Airlines Group Inc - a brash attempt by the fast-growing Middle East carrier to push into the U.S. amid political upheaval back home. on.wsj.com/2s1XafN - Mylan NV's board nominees were elected in full at the pharmaceutical company's annual meeting Thursday despite pressure from a group of institutional investors unhappy over high executive pay. on.wsj.com/2s1OoyH - Tesla Inc said it is exploring with government officials in Shanghai the possibility of opening a facility to build electric vehicles for the Chinese market. on.wsj.com/2s1Xn2I - The U.S. Department of Agriculture suspended imports of fresh beef from Brazil, citing recurring safety concerns. The USDA's move came after Brazil earlier Thursday suspended beef exports from five slaughterhouses to the U.S. on.wsj.com/2s1WZRN - Samsung Electronics Co is in late-stage discussions to invest about $300 million to expand its U.S. production facilities at a factory soon to be vacated by Caterpillar Inc according to people familiar with the matter, with an announcement expected as early as next week. on.wsj.com/2s1XoUj   FT Prime Minister Theresa May offered to allow EU citizens who had lived in Britain for five years to continue staying after Brexit, as she tried to regain the initiative on exit negotiations at a European summit in Brussels on Thursday. The UK's deal with EDF SA to build the Hinkley Point C nuclear plant could cost British electricity consumers 30 billion pounds ($38.03 billion) above market prices, the National Audit Office said in a report. Bank of England policymaker Kristin Forbes, whose three-year term on the bank's Monetary Policy Committee ends next week, said on Thursday that senior staff were too busy to take monetary policy decisions sufficiently seriously and worried too much about bad press and their public profiles.   NYT - Tesla Inc is in discussions to establish a factory in Shanghai, its first in China, a move that could bolster its efforts in one of its major markets even as it further lifts China's position as a builder of electric cars. nyti.ms/2swu9wo - The largest U.S. banks breezed through the first phase of their annual Federal Reserve stress tests, demonstrating that they have enough capital to withstand the type of financial shock that nearly ruined the industry and the world economy in 2008. nyti.ms/2sx12ZR - Berkshire Hathaway Inc, run by Warren Buffett, agreed to buy a stake in Home Capital Group Inc, which has struggled amid accusations of fraud. nyti.ms/2swtnzu - Akbar al-Baker, the chief executive of Qatar Airways, recently approached his counterpart at American Airlines Group Inc, a bitter rival, with some news: His state-owned company wanted to buy a 10 percent stake in American. nyti.ms/2sx3kZa - Martin Shkreli, former hedge fund manager, "pharma bro" and self-styled bad boy, sat in federal court for a hearing before his fraud trial begins next week. nyti.ms/2swFb4B   Britain The Times * A state-backed Chinese operator is among the companies shortlisted to run the new HS2 railway, the first bidder for a rail franchise from mainland China. bit.ly/2rXiuYL * Central banking may have become too political and policymakers too overstretched to manage interest rates properly, a leading Bank of England ratesetter, Kristin Forbes, suggested yesterday. bit.ly/2rWrxcJ The Guardian * Britain's vote to leave the EU has squeezed living standards, hit consumer spending and dampened the country's growth prospects, according to an analysis by Guardian of economic news over the year since the referendum shows. bit.ly/2rWSg8R * The price of British strawberries could rise by more than a third if the UK cannot ensure access to European workers after Brexit, The National Farmers' Union said. bit.ly/2rX92EJ The Telegraph * Peter Hambro has lost his bid to stop a major Russian investor from filleting the board of Petropavlovsk, the gold mining company he co-founded more than 20 years ago. bit.ly/2rXhHHv * Fears of a clampdown on China's swashbuckling corporate empire builders are mounting after authorities in Beijing began gathering financial intelligence on big-spending conglomerates. bit.ly/2rWDwqt Sky News * The new chief executive of GlaxoSmithKline, Emma Walmsley, is pursuing a sale of MaxiNutrition, which was bought in 2010 for 162 million pounds ($205.38 million) , according to Sky News. bit.ly/2rWRW9Y * Malcolm Barr, who works for JP Morgan, one of the world's largest banking institutions, said of the Brexit negotiations: "I'm not convinced that (the UK is) really very well prepared at all, to be perfectly blunt." bit.ly/2rX2VR0 The Independent * The reckless rise of artificial intelligence is going to be much more disruptive for the London technology scene in the longer run than Britain's departure from the EU, according to musician, will.i.am. ind.pn/2rX1KB1 * McDonald's has launched its long-awaited home delivery trial in the UK after teaming up with Uber's takeaway service across parts of London, Nottingham and Leeds. ind.pn/2rWHRtZ  

23 июня, 10:12

American Airlines против сделки с Qatar Airways

Всего через несколько недель после того, как президент США Дональд Трамп обвинил Катар в финансировании терроризма, флагманская авиакомпания Катара сделала неожиданное предложение о приобретении крупной доли в American Airlines, сообщает Bloomberg.

23 июня, 10:12

American Airlines против сделки с Qatar Airways

Всего через несколько недель после того, как президент США Дональд Трамп обвинил Катар в финансировании терроризма, флагманская авиакомпания Катара сделала неожиданное предложение о приобретении крупной доли в American Airlines, сообщает Bloomberg.

22 июня, 18:31

Buffett rescues teetering Canadian subprime mortgage lender

Berkshire Hathaway provides C$2.4bn financing package for Home Capital Group

22 июня, 18:31

Buffett rescues teetering Canadian subprime mortgage lender

Berkshire Hathaway provides C$2.4bn financing package for Home Capital Group

22 июня, 14:42

Frontrunning: June 22

European stock markets stumble as oil languishes near lows (Reuters) Some Trump Aides Want a New Leader at the Fed (BBG) Goal of Saudi Shake-Up: Drag Country Into the Modern Era (WSJ) Under fire in Washington, Trump back in campaign mode in Iowa (Reuters) Revenue Slides at Some Trump Businesses, but Vegas Tower Brings Windfall (WSJ) Trump, new Saudi crown prince share hardline views on Iran but risks abound (Reuters) Canada’s Plan for Managing Trump: Go Around Him (NYT) Democrats Take Stock: ‘Our Brand Is Worse Than Trump’ (NYT) Apple Scraps Like an Underdog in India’s Huge Mobile Market (WSJ) Norway's central bank keeps rates on hold, removes easing bias (Reuters) Tesla Reaches Pact With Shanghai for China Production (BBG) South Korea president calls on China's Xi to do more on North Korea nuclear program (Reuters) Airbus concedes defeat to Boeing in Paris order race (Reuters) Migrants Return to France’s ‘Jungle’ in Calais (WSJ) Amid Tumult at Uber, Bill Gurley Is Said to Be Leaving Board (NYT) How Uber Investors Engineered the Ousting of Kalanick (WSJ) Kalanick’s Ouster Shows Founder Control Doesn’t Mean Job Security  (BBG) Philippines says Islamist fighters trapped in corner of besieged town (Reuters) Canadian Charged in US Airport Attack Investigated as Terror (BBG) Foxconn in Talks With U.S. States Over New Plant (WSJ) Imagination Tech up for sale after bruising Apple fight (Reuters) UK factories have best month for orders since 1988 (Reuters)   Overnight Media Digest WSJ - Oracle Corp reported earnings that topped Wall Street's modest forecasts, sending the stock up more than 10 percent in after-hours trading. on.wsj.com/2ssIUQF - Nike Inc has agreed to sell some of its products directly to Amazon.com Inc, a person familiar with the matter said, a concession by the sneaker giant that it can no longer afford to ignore the online retailing behemoth. on.wsj.com/2ssXYOu - Diageo PLC agreed to buy actor George Clooney's upscale tequila brand Casamigos for $700 million, part of a larger push by the spirits giant to increase its exposure to the tequila market. on.wsj.com/2ssKBxQ - Sears Canada Inc, which operates more than 200 stores, has hired advisers and is preparing to file for bankruptcy protection in Canada, according to people familiar with the matter. on.wsj.com/2st5xEA   FT Prime Minister Theresa May ditched a series of promises from the Conservative manifesto, illustrating her weakness after the disappointment of this month's election, as she set out a Brexit-focused government programme on Wednesday. The City of London Corporation is buying 68 flats in the Kensington Row development on Kensington High Street to house some of the families made homeless in the deadly fire at London's Grenfell Tower last week. Bank of England's chief economist, Andy Haldane, said on Wednesday that he was likely to vote for an interest rate hike in 2017, putting himself at odds with Mark Carney the day after the governor said "now is not the time" to do so. Phoenix Asset Management said it has acquired a majority stake in Hornby Plc after buying the entire stake of activist investor New Pistoia which succeeded in seeing the removal of Roger Canham as chairman of the loss-making British toymaker.   NYT - Travis Kalanick stepped down as chief executive of Uber Technologies Inc, the ride-hailing service that he helped found in 2009 and built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company. nyti.ms/2st1OH6 - Magazine publisher Wenner Media has agreed to sell its men's lifestyle title to American Media to focus on expanding its remaining brand, Rolling Stone. nyti.ms/2st1iJl - An appeals court is set to rule on whether premium, subscriber-based news organizations should have the same protection as a traditional media company. nyti.ms/2st2vk4   Canada THE GLOBE AND MAIL ** Struggling Sears Canada Inc plans to file for court protection from its creditors soon with the goal of closing about one-third of its 94 department stores and keeping the rest running, industry sources say. (tgam.ca/2twNzQo) ** Export Development of Canada has committed $72 million in financing for Canadian Solar Inc's participation in Dubai's massive Solar City project. (tgam.ca/2twlTef) NATIONAL POST ** Berkshire Hathaway Inc said late Wednesday evening it has agreed to indirectly acquire C$400 million of Home Capital Group's common shares on a private placement basis, providing a new C$2 billion line of credit to its subsidiary, Home Trust. (bit.ly/2twW65G) ** AIMCo Realty Investors LP, a unit of AIMCo, launched its initial debt offering in Canada, hoping to raise C$400 million. (bit.ly/2twCgY8)   Britain The Times * Business groups applauded a more pro-business tone from the government in the Queen's Speech yesterday, but warned that they were still in the dark over future trading arrangements. bit.ly/2sCpIyn * Hornby Plc's Roger Canham, fresh from seeing off a challenge to his position, resigned as executive chairman with immediate effect. bit.ly/2sCtk3v The Guardian * Just 24 hours after Bank of England governor Mark Carney said the state of the economy and the uncertainty caused by Brexit meant borrowing costs should stay on hold, the bank's chief economist, Andy Haldane said it would be prudent to tighten policy before the end of the year. bit.ly/2sCjWNg * Tesco is to close a call centre in Cardiff, putting 1,100 jobs at risk. bit.ly/2sCk6Em The Telegraph * Drinks giant Diageo has agreed to pay up to $1 billion to buy George Clooney's tequila company, Casamigos. bit.ly/2sCsl3f * The Serious Fraud Office appears to have been granted a reprieve from plans to abolish it in a U-turn that came just a day after the organisation targeted Barclays with the first criminal charges ever brought against a bank over the financial crisis. bit.ly/2sCF7yS Sky News * AS Watson Group, which is part of the vast Asian conglomerate CK Hutchison Holdings, has tabled an indicative offer for Holland and Barrett, whose owner has kicked off an auction of the business, according to Sky News. bit.ly/2sCCm0r * Uber's troubled chief executive, Travis Kalanick, has quit following a revolt by major shareholders. bit.ly/2sCmefu The Independent * Starbucks will hire 2,500 refugees across Europe by 2022 as part of a wider plan that sparked a social media backlash when it was announced in January. ind.pn/2sCHdP2 * The co-founder of Cobra beer, Karan Bilimoria, has said that he does not think that Britain will end up leaving the EU, once people become aware of the full impact a split will have on business and the economy. ind.pn/2sCplUN  

22 июня, 13:48

Warren Buffett Rides To The Rescue In Canada With $1.8 Billion Investment In Lender Home Capital

Berkshire Hathaway has agreed to make a $1.5 billion loan to a unit of Home Capital Group and indirectly purchase $300 million of the company’s stock at a steep discount.

22 июня, 13:40

10 самых богатых американцев

Forbes в очередной раз опубликовал список самых богатых людей мира. Публикуем топ-10 самых богатых людей Америки.

22 июня, 13:40

10 самых богатых американцев

Forbes в очередной раз опубликовал список самых богатых людей мира. Публикуем топ-10 самых богатых людей Америки.

Выбор редакции
22 июня, 12:56

Buffett Stuns Market After Berkshire Acquires 38.4% Of Home Capital Group, Provides C$2 Billion Loan

In a stunning development involving Canada's largest alternative lender which as recently as a month ago was facing virtually certain insolvency after a furious depositor run drained it of liquidity, overnight Home Capital Group announced that billionaire Warren Buffett's Berkshire Hathaway will indirectly acquire C$400 million ($300 million) of the firm’s shares in a private placement through its Columbia Insurance unit, for about a 38.4% stake, and will aso provide a new C$2 billion ($1.50 billion) line of credit to its unit Home Trust Co, ending the Canadian lender's strategic review process. "Home Capital's strong assets, its ability to originate and underwrite well-performing mortgages, and its leading position in a growing market sector make this a very attractive investment," said Warren Buffett, Berkshire chairman and CEO, failing to comment on the lender's numerous regulatory problems. Aside from the rescue loan, Berkshire will make an initial investment of C$153.2 million to buy 16 million common shares and an additional investment of C$246.8 million to purchase 24 million shares through a private placement.  In total, Berkshire will hold an about 38.39% equity stake in Home Capital after buying 40 million shares at an average price of about C$10.00 per common share, a 33% discount compared with yesterday’s closing price of C$14.94. "Berkshire's investment is a strong vote of confidence,” in the long-term value of the business, Brenda Eprile, Home Capital’s chairwoman. Canada's biggest non-bank lender also said it will continue to explore further asset sales and financing deals over the next year, but has concluded its strategic review process that began in April. Many market watchers were stunned by this news, and were scratching their heads at why Berkshire would take the reputation risk of having exposure to a company which as recently as a month ago was in the regulator's crosshairs for peddling "liar loans." As a reminder, last week, Home Capital reached a C$30.5 million settlement with the Ontario Securities Commission, settled a class action lawsuit and accepted responsibility for misleading investors about problems with its mortgage underwriting procedures. Once upon a time, Buffett would run from companies such as this; now he is actively drawn to them. In any case, the move will likely assure an interim turnaround in the 30-year-old lender after a regulator in April accused it of misleading shareholders on mortgage fraud, which sent its shares tumbling, sparked withdrawals and threatened to disrupt Canada’s real estate sector. Earlier this week, Home Capital agreed to sell a clutch of commercial mortgages to affiliates of KingSett Capital Inc. for C$1.16 billion in cash. "This investment from Berkshire not only addresses Home Capital's near-term requirements for additional liquidity and a lower-cost credit agreement, but also facilitates what the Board feels is the best available path to long-term success," Home Capital's Chair Brenda Eprile said. According to Bloomberg, the deal replaces an existing emergency credit facility on better terms, Home Capital said. The share purchase will be done in two parts: an initial investment of C$153 million for about a 20 percent equity stake, then an additional investment of C$247 million taking the stake to about 38 percent. The second phase requires extra approvals. Berkshire will not be granted any rights to nominate directors and has agreed to only vote shares representing 25 percent of the company’s stock, Home Capital said. Home Capital shares have more than doubled since bottoming in April when its troubles began to accelerate but remain about 73 percent down from their peak in 2014. The company last week took full responsibility over allegations the lender misled shareholders about mortgage fraud and agreed with three former executives to pay more than C$30 million to reach settlements with regulators and investors. So why is the octogenarian taking on the credibility risk through this particular investment? For the same reason as explained two months ago in "Warren Buffett Now Selling US Houses To Chinese Oligarchs" - Berkshire is seeking offshore housing markets, and after seeking access to the "desirable" Chinese homebuyer universe  with its HomeServices unit, it now is hoping to access Canada. He may find a cool reception: Buffett’s Berkshire Hathaway is wading into a tense Canadian housing market, with Toronto house prices cooling after being hit with a 15 percent tax on foreign buyers and tighter mortgage regulations, and confidence shake by the Home Capital drama. Meanwhile, prices are surging in Vancouver again after being sideswiped by similar policy moves.

22 июня, 12:53

Secret Of Buffett's Success - Berkshire Hathaway Bails Out Canada's Home Capital Group

Thus the secret of Buffett's success at Berkshire Hathaway. He's borrowing money cheaper than the US government can then lending it, against full security, to Home Capital Group at 9%.

22 июня, 12:44

Forbes назвал самых богатых жителей каждого из штатов США

Лидеры по числу миллиардеров — Калифорния, Нью-Йорк и Техас

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22 июня, 12:21

Berkshire Hathaway купила долю в Home Capital

Американская инвестиционная компания Berkshire Hathaway заявила о заключении соглашения по косвенному приобретению 38,39%-ной доли в проблемном канадском ипотечном кредиторе Home Capital Group в рамках программы финансовой поддержки, включающей в себя предоставление займа в размере 2 млрд канадских долларов ($1,5 млрд). По условиям соглашения, Berkshire приобретет долю через свое подразделение Columbia Insurance за 400 млн канадских долларов посредством двух размещений акций путем закрытой подписки. Сообщается, что из приобретаемой 38,39%-ной доли в Home Capital, голосующими будут лишь 25% акций в соответствии с канадскими регулятивными нормами.

Выбор редакции
22 июня, 10:38

Berkshire Hathaway купила долю в Home Capital

Американская инвестиционная компания Berkshire Hathaway заявила о заключении соглашения по косвенному приобретению 38,39%-ной доли в проблемном канадском ипотечном кредиторе Home Capital Group в рамках программы финансовой поддержки, включающей в себя предоставление займа в размере 2 млрд канадских долларов ($1,5 млрд). По условиям соглашения, Berkshire приобретет долю через свое подразделение Columbia Insurance за 400 млн канадских долларов посредством двух размещений акций путем закрытой подписки. Сообщается, что из приобретаемой 38,39%-ной доли в Home Capital, голосующими будут лишь 25% акций в соответствии с канадскими регулятивными нормами.

20 июня, 00:49

Insurers Talk A Lot About Climate Change, But Most Still Do Business In Coal

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video['package']){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video['package'];a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); The insurance industry’s annual confab last week was supposed to be a dry, stoic affair. Instead, anti-coal protesters stormed the 44th Geneva Association conference at a ritzy hotel in San Francisco, plastered the bathrooms with slogan stickers and slipped fliers under the doors to executives’ rooms. A plane toting a banner reading “unfriend coal” circled the high-rise where the executives held their closing dinner and cocktail party.   The activists’ demands were twofold: Insurance companies should divest from coal projects and stop underwriting the fossil fuel. Insurers have raised the alarm on the risk posed by climate change in recent years, forming international coalitions aimed at preparing for the increased floods, storms and heatwaves that come with a warming planet. But of the 16 companies on the board of the Geneva Association ― the insurance industry’s think tank ― just one told HuffPost it cut off both funding and insurance for coal companies. AXA Group, France’s largest insurer, in 2015 announced plans to divest from companies most exposed to coal activities. This April, the firm said it would no longer offer property or casualty insurance to mining companies or utilities deriving 50 percent of their sales from coal. “Coal is often a low-cost form of energy, and is widely available to a large proportion of the world’s population,” the company said at its annual shareholder meeting on April 26. “However, coal is also the most carbon-intensive energy source. AXA, like many investors, believes coal both poses the biggest threat to the climate and its business is the most likely to be constrained.” On the opposite end of the spectrum is XL Group, whose chief executive, Mike McGavick, is the Geneva Association’s current chairman. His Ireland-based firm has refused to divest from coal companies and continues to cover them with casualty and property insurance, calling such moves “nonsense.” Other firms have followed his lead, including Japan’s Tokio Marine, the United Kingdom’s Lloyd’s, Brazil’s SulAmérica Seguros, Canada’s Intact, Switzerland’s Zurich Insurance Group and the People’s Insurance Company of China, known as PICC. (Berkshire Hathaway, the U.S. insurance behemoth led by billionaire Warren Buffett, underwrites and invests in coal, though the firm is not on the Geneva Association’s board.) Italy’s biggest insurance company, Assicurazioni Generali Group, has yet to divest or curtail coverage for coal, but a spokesman told HuffPost it was completing an internal audit to determine the scope of its exposure to the fuel. “Generali is currently performing an in-depth analysis of its exposure to coal infrastructure both from an investment and underwriting perspective,” Matthew Newton said by email. He did not respond to questions about when the audit would be complete, but suggested it could be a first step toward the company divesting and ending insurance policies for coal. Coal divestment campaigns have gained steam in recent years as hundreds of cities and universities pull their pension funds and endowments out of the industry. The fuel faces fierce competition from natural gas and renewable energy, and its use is on pace to peak in the next decade. But scientists warn that a business-as-usual approach to the industry that’s disproportionately responsible for planet-heating emissions rapidly causing Earth’s climate to change jeopardizes any hope of averting the worst effects of global warming.  Peter Bosshard, who coordinated last week’s protest for the activist group Unfriend Coal, said convincing insurers to abandon coal would hasten the industry’s demise. “It’s the one critical fact that’s been left off the hook,” Bosshard, who works for the global warming advocacy group the Sunrise Project, told HuffPost on Monday. “Insurance is a precondition for any major project to go ahead. It’s one thing to divest, but more important is to stop insuring coal.” Some companies don’t offer any insurance for coal projects. These include New Jersey-based giant Prudential, Canada’s Manulife Financial, the United Kingdom’s Aviva and the Netherlands’ Aegon. Aviva and Aegon also have moved to pull money they manage out of coal companies. Germany’s Allianz, France’s SCOR and Switzerland’s Swiss Re similarly have committed to divest, but have stopped short of cutting off insurance coverage for coal-heavy clients. None of these firms responded to HuffPost’s request for comment on Friday. “Given the clean energy transition underway, all insurers should assess their risk exposure to carbon-intensive fossil fuel industries ― including oil, gas and coal ―- and disclose this information, along with their plans to reduce their fossil-fuel risk exposures, to industry regulators and other stakeholders,” Cynthia McHale, insurance director at the sustainability shareholder advocate Ceres, told HuffPost. “Coal rapidly is being replaced and eclipsed by clean, renewable energy. The market growth opportunities are with renewables, not coal.” type=type=RelatedArticlesblockTitle=Related... + articlesList=56d36cade4b03260bf773563,59441b0ae4b01eab7a2d6f48,58da777ae4b018c4606b99f9,58c993d9e4b0be71dcf104b1,59089118e4b05c397682ce92,58dad105e4b054637062e61d -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

20 июня, 00:49

Insurers Talk A Lot About Climate Change, But Most Still Do Business In Coal

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video['package']){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video['package'];a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); The insurance industry’s annual confab last week was supposed to be a dry, stoic affair. Instead, anti-coal protesters stormed the 44th Geneva Association conference at a ritzy hotel in San Francisco, plastered the bathrooms with slogan stickers and slipped fliers under the doors to executives’ rooms. A plane toting a banner reading “unfriend coal” circled the high-rise where the executives held their closing dinner and cocktail party.   The activists’ demands were twofold: Insurance companies should divest from coal projects and stop underwriting the fossil fuel. Insurers have raised the alarm on the risk posed by climate change in recent years, forming international coalitions aimed at preparing for the increased floods, storms and heatwaves that come with a warming planet. But of the 16 companies on the board of the Geneva Association ― the insurance industry’s think tank ― just one told HuffPost it cut off both funding and insurance for coal companies. AXA Group, France’s largest insurer, in 2015 announced plans to divest from companies most exposed to coal activities. This April, the firm said it would no longer offer property or casualty insurance to mining companies or utilities deriving 50 percent of their sales from coal. “Coal is often a low-cost form of energy, and is widely available to a large proportion of the world’s population,” the company said at its annual shareholder meeting on April 26. “However, coal is also the most carbon-intensive energy source. AXA, like many investors, believes coal both poses the biggest threat to the climate and its business is the most likely to be constrained.” On the opposite end of the spectrum is XL Group, whose chief executive, Mike McGavick, is the Geneva Association’s current chairman. His Ireland-based firm has refused to divest from coal companies and continues to cover them with casualty and property insurance, calling such moves “nonsense.” “It’s too large a part of the economy,” he said two years ago at an insurance industry forum. “It’s too many of the investible opportunities out there and the reality is that we would be failing our shareholders if we weren’t investing in a prudent way.” Other firms have followed McGavick’s lead, including Japan’s Tokio Marine, the United Kingdom’s Lloyd’s, Brazil’s SulAmérica Seguros, Canada’s Intact, Switzerland’s Zurich Insurance Group and the People’s Insurance Company of China, known as PICC. (Berkshire Hathaway, the U.S. insurance behemoth led by billionaire Warren Buffett, underwrites and invests in coal, though the firm is not on the Geneva Association’s board.) Italy’s biggest insurance company, Assicurazioni Generali Group, has yet to divest or curtail coverage for coal, but a spokesman told HuffPost it was completing an internal audit to determine the scope of its exposure to the fuel. “Generali is currently performing an in-depth analysis of its exposure to coal infrastructure both from an investment and underwriting perspective,” Matthew Newton said by email. He did not respond to questions about when the audit would be complete, but suggested it could be a first step toward the company divesting and ending insurance policies for coal. Coal divestment campaigns have gained steam in recent years as hundreds of cities and universities pull their pension funds and endowments out of the industry. The fuel faces fierce competition from natural gas and renewable energy, and its use is on pace to peak in the next decade. But scientists warn that a business-as-usual approach to the industry that’s disproportionately responsible for planet-heating emissions rapidly causing Earth’s climate to change jeopardizes any hope of averting the worst effects of global warming.  Peter Bosshard, who coordinated last week’s protest for the activist group Unfriend Coal, said convincing insurers to abandon coal would hasten the industry’s demise. “It’s the one critical fact that’s been left off the hook,” Bosshard, who works for the global warming advocacy group the Sunrise Project, told HuffPost on Monday. “Insurance is a precondition for any major project to go ahead. It’s one thing to divest, but more important is to stop insuring coal.” Some companies don’t offer any insurance for coal projects. These include New Jersey-based giant Prudential, Canada’s Manulife Financial, the United Kingdom’s Aviva and the Netherlands’ Aegon. Aviva and Aegon also have moved to pull money they manage out of coal companies. “We decided last year to strike coal mining off our investment list,” Dick Schiethart, an Aegon spokesman, told HuffPost by email. “We have added companies that derive more than 30% of their revenues from thermal coal mining to our exclusion list.”  Germany’s Allianz, France’s SCOR and Switzerland’s Swiss Re similarly have committed to divest, but have stopped short of cutting off insurance coverage for coal-heavy clients. In 2015, Munich-based Allianz imposed stricter environmental standards on insurance for industrial firms. “Allianz sees itself as a partner supporting our customers on a journey to a low-carbon economy, for example by providing them with our technical expertise,” Anja Rechenberg, an Allianz spokeswoman, told HuffPost by email. “That’s why we will continue to insure utilities and mining companies when they show an adequate sustainability performance or suitable risk mitigation strategies.” None of the other firms responded to HuffPost’s request for comment on Friday. “Given the clean energy transition underway, all insurers should assess their risk exposure to carbon-intensive fossil fuel industries ― including oil, gas and coal ― and disclose this information, along with their plans to reduce their fossil-fuel risk exposures, to industry regulators and other stakeholders,” Cynthia McHale, insurance director at the sustainability shareholder advocate Ceres, told HuffPost. “Coal rapidly is being replaced and eclipsed by clean, renewable energy. The market growth opportunities are with renewables, not coal.” This article has been updated with comments from McGavick, Aegon, Allianz and XL Group. type=type=RelatedArticlesblockTitle=Related Coverage + articlesList=56d36cade4b03260bf773563,59441b0ae4b01eab7a2d6f48,58da777ae4b018c4606b99f9,58c993d9e4b0be71dcf104b1,59089118e4b05c397682ce92,58dad105e4b054637062e61d -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

19 июня, 09:45

The World's Top 100 Companies: Revenue Versus Profits

Just over a month ago, Visual Capitalist published a very tidy data visualization that summed up the top 50 companies in the world by revenue, based on data from Forbes. But, as Jeff Desjardins notes, just looking at revenue numbers doesn’t give a full picture on how these companies compare – and many investors care much more about a different performance metric: profit. Roday’s data visualization from Ishtyaq Habib shows the top 100 biggest companies by market value, but uses circles to represent both the revenue and profit for each company. There’s also an interactive version of the same chart here as well, which highlights the specific numbers for each company highlighted.   Courtesy of: Visual Capitalist   APPLE = A MONEY-MAKING MACHINE The first noticeable difference in this version? It’s that Apple is unparalleled in its ability to make money. In fact, Apple’s 2016 profit of $45 billion is far bigger than any other company, including Berkshire Hathaway ($24 billion), JPMorgan Chase ($24 billion), Wells Fargo ($22 billion), Alphabet ($19 billion), Samsung ($19 billion), Toyota ($17 billion), Johnson & Johnson ($16 billion), or Walmart ($14 billion). The only companies that can compare with Apple were Chinese banks like ICBC, Agricultural Bank of China, or China Construction Bank, but in many ways these state-owned enterprises are on an entirely different playing field, anyways. Also impressive: Apple’s profits are bigger than the revenues of massive companies like Coca-Cola ($41.5 billion) or Facebook ($27.6 billion). MARGINS, SCHMARGINS Unfortunately, not every company can make a 21% profit margin on $217 billion of revenue like Apple. Other organizations need to rely on razor-thin margins and volume to make things work. Walmart only brought in $14 billion of profit off of a whopping $485 billion of revenue – a margin of just 2.8%. Meanwhile, fast-growing Amazon was in a similar boat with margins of 1.7%, largely provided by its wildly successful AWS service. Lastly, it is also worth noting that some on the list did not make a margin at all. These are mostly companies that are suffering from the challenges of down cycles in natural resources. Chevron and mining giant Glencore, for example, were two of the Top 100 Companies that both lost money in 2016, while BP essentially broke even.

19 июня, 03:17

Amazon: Everything From A To Z Now Includes Whole Foods

Many were surprised when Amazon recently announced its purchase of Whole Foods for $13.7 billion. Those that love Amazon applauded the move while those that fear, or dislike, Amazon are using it to confirm their prediction of its “big-brother” takeover of the world. Competitors to prevent a complete takeover Of course, those that fear Amazon should take notice that Amazon has some formidable rivals – Apple, Facebook, and Google, which have their own growing eco-systems that are enveloping bigger and bigger chunks of commerce. Based on its recent resurgence under Satya Nadella, many would include Microsoft to this group. And if you include international players, Chinese Internet giant, Alibaba, should be added to the list of dominant competitors. Going back to the pre-digital world, people had similar concerns about General Motors and big Oil companies, such as Exxon Mobil. The writing has been on the wall Anyone that has been surprised by Amazon’s move to buy Whole Foods has not been noticing the writing on the wall for some time. Amazon started out as an online bookstore. The name was a curious choice for a bookstore. Many didn’t notice this because the company started in the “dot.com bubble” days when “interesting” names, such as Yahoo!, were in vogue. If you think about the branding more deeply, however, you might notice that the name “Amazon” relates to a lot of things – mostly big and powerful. In Greek Mythology, the Amazons were women warriors that were warlike and aggressive. The Amazon River and rainforest are vast and powerful. If you look at Amazon’s logo, it has an arrow pointing from the “a” to the “z” – not-so-subtly implying Amazon wants to sell you everything. From online bookstore to world’s biggest retailer Most think of Amazon as an online retailer since the company branded itself that way and lots of us buy products from Amazon on their e-Commerce Web site. Amazon recently passed Walmart as the world’s biggest retailer (note: some dispute this claim when Alibaba in included). Unless you need to touch, feel, and try on the merchandise, Amazon is perhaps the most convenient place to find and buy products ever invented. Marketers know that the primary added-value function of distribution is convenience. That’s not all. Buyers can use the site to read reviews, receive suggestions, and comparison shop for better prices. With increasing disincentives to go to physical stores - traffic, parking, wasted time, and opportunity costs, Amazon has gained the upper hand as more and more people feel comfortable buying online. However, since Amazon offers ultra competitive prices on small margins, it typically loses money on small orders. Offering Prime pre-paid membership is an attempt to dampen these losses. Generating sales is not the same as making money Because of its miniscule margins, Amazon went a very long time - over 20 years without making real money. Jeff Bezos, and his shareholders, were amongst the most patient people in the world. That patience has paid off since Amazon surpassed Berkshire Hathaway and Exxon Mobile as the 4th most valuable company in the world after Apple, Alphabet (Google), and Microsoft. How did Amazon do it? Much more than e-commerce Widening out its original focus, Amazon has expanded into many other businesses. A partial list is summarized below: Artificial Intelligence: Amazon created the Alexa artificial intelligence platform and Dot digital assistant. Banking: Prime members receive discounts if they use Amazon Prime branded debit and credit cards. Cloud computing: While continuing to grow its other businesses, what seems to be contributing the most to its profits is Amazon Web Services, or AWS. Started in 2006, this part of Amazon has consistently grown to capture a dominant 45% share of the cloud computing infrastructure market – greater than Microsoft, Google, and IBM combined. Using a rule of thumb devised by the Boston Consulting Group (companies that have ≥ 20% market share are almost always profitable), it seems that Amazon’s initiatives in cloud computing and its other B2B activities are likely to continue to pay off handsomely. Entertainment: Amazon has created award-winning original TV and movie content, sells digital music and video, and offers a streaming music service. Prime members receive free or discounted content. Logistics: Amazon has developed a Prime Air drone delivery service, which it is testing. In addition to delivering goods ordered from Amazon, Prime Air will deliver people and goods to and from Airborne Fulfillment Centers (AFCs), which are flying warehouses for which Amazon has filed a patent. It is also talking about delivering goods via autonomous trucks once they are allowed. Manufacturing: To facilitate purchases of books and other products on its Web site, Amazon introduced the Kindle e-Book reader. It has since added products such as the Echo high quality table-top speaker and the Tap portable bluetooth speaker. Retail: Amazon has opened bricks and mortar bookstores and checkout-free grocery stores branded as Amazon Go. While many are confused as to why the e-Commerce giant would open physical stores, it makes a lot of sense if you understand the a-to-z branding and possible distribution economies. Moreover, nothing replaces a physical store for seeing, feeling, and “trying on” the merchandise. With physical stores, Amazon has widened out its distribution channels, and will give online rivals, such as Alibaba, a run for their money. Technology: Amazon has received a patent for a technology to identify and counter in-store price comparisons via mobile devices. This should provide a disincentive for people to leave an Amazon store to buy products at lower prices elsewhere. Getting back to Whole Foods Adding the Whole Foods chain to its Go grocery stores and Fresh delivery service enables Amazon to create greater buyer convenience options and grocery distribution economies. It also allows Amazon to proliferate its “Go” convenience concept to other retail outlets. Just as Uber eliminated some of the inefficiencies with summoning cabs, Amazon is taking away the inconvenience of waiting in line and paying for groceries and retail goods. By giving buyers online, bricks and mortar, and delivery options along with discounts and other benefits associated with Prime membership, Amazon is doing its best to become the one-stop for virtually everything. It’s creating a scalable ecosystem that gives consumers convenience and choice. Will it be a “big brother” takeover of the universe? Not likely if Apple, Alibaba, Facebook, Google, Microsoft, and possible future competitors have anything to say about it. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

18 июня, 19:01

Luxury home buyers pause on Gatsby’s North Shore

AMONG the sprawling colonial homes and well-tended lawns on the north shore of New York’s Long Island, there are signs that Chinese policies crafted 11,000 kilometers away are taking a toll. In the past

16 июня, 17:37

Tech Rout Shifts Spotlight from Growth to Value: 5 Top Picks

Steer clear of tech behemoths that constitute the bulk of growth stocks on overvaluation concerns, while value stocks, led by financials and consumer staples, look enticing

30 сентября 2016, 17:09

Топ-10 самых инновационных университетов мира

Считается, что американская университетская система – это двигатель инноваций и прогресса, и это подтверждает рейтинг инновационных университетов мира от Reuters.

10 августа 2015, 11:37

Уоррен Баффетт наметил рекордную высоту // Berkshire Hathaway готовит крупнейшую сделку в аэрокосмической отрасли

Berkshire Hathaway близок к подписанию соглашения о покупке американской металлургической корпорации Precision Castparts, главными клиентами которой являются Airbus и Boeing. Сумма сделки оценивается в $30 млрд, что будет крупнейшим поглощением не только для холдинга Уоррена Баффетта, но и для всей аэрокосмической отрасли.

02 сентября 2014, 04:21

10 компаний контролирующих мировую пищевую индустрию

  В сельском хозяйстве и пищевой промышленности занято более одного миллиарда человек в мире или треть всей рабочей силы. И хоть данный сектор играет ключевую роль в жизни человечества, как это ни парадоксально, его контролируют крайне небольшое число транснациональных компаний. Согласно докладу компании Oxfam International, 10 компаний, специализирующихся на производстве продуктов питания и напитков, могут формировать продуктовую корзину большей части населения планеты, влиять на их условия труда, а также окружающую среду.  Associated British Foods Выручка: $21,1 млрд Расходы на рекламу: неизвестно Прибыль: $837 млн Сотрудники: 112,6 тыс. Штаб-квартира: Лондон, Великобритания  Associated British Foods – это британская компания-производитель продуктов питания, которой удалось выстроить глобальную сеть с помощью приобретений. В результате постоянного прироста за счет покупки новых компаний, Associated British Foods производит практически все виды продовольствия, начиная от сахара, заканчивая кукурузным маслом и чаем. ABF один из основных поставщиков важных пищевых ингредиентов, в том числе эмульгаторов, ферментов и лактозы.   Coca-Cola Сo. Выручка: $46,9 млрд Расходы на рекламу: $3,0 млрд Прибыль: $8,6 млрд Сотрудники: 130,6 тыс. Штаб-квартира: тланта, Джорджия, США  Coca-Cola является одним из самых дорогих брендов в мире. Совокупный объем продаж в 2013 финансовом году в стоимостном выражении превысил отметку $47 млрд. Coca-Cola Сo. крупнейший мировой производитель и поставщик концентратов, сиропов и безалкогольных напитков. Крупнейшим акционером этой компании является фонд Berkshire Hathaway Inc. (8,61%), контролируемый легендарным инвестором Уорреном Баффетом.   Groupe Danone Выручка: $29,3 млрд Расходы на рекламу: $1,2 млрд Прибыль: $2,0 млрд Сотрудники: 104,6 тыс. Штаб-квартира: Париж, Франция  Французская компания Groupe Danone имеет обладает колоссальным присутствием в во всем мире. Его крупнейшим рынком, по объемам продаж, является Россия, далее следуют Франция, США, Китай и Индонезия. Компания является крупнейшим в мире продавцом свежих молочных продуктов, больше половины от всего объема продаж данной продукции в мире в 2013 году пришлось на Groupe Danone.   General Mills Выручка: $17,9 млрд Расходы на рекламу: $1,1 млрд Прибыль: $1,8 млрд Сотрудники: 43 тыс./LI] Штаб-квартира: Голден-Вэлли, Миннесота, США  Компания General Mills владеет рядом одних из наиболее известных американских брендов, таких как Pillsbury, Colombo Yogurt, Betty Crocker, «Зеленный великан». Производственные мощности компании размещены в 15 странах, однако, продукция реализуется более чем в 100. Полоска продукции компании невероятно широкая : хлопья для завтрака, йогурт, замороженное тесто, консервированные супы, пицца, мороженое, соевые продукты, овощи, мука и др.   Kellogg Выручка: $14,8 млрд Расходы на рекламу: $1,1 млрд Прибыль: $1,8 млрд Сотрудники: 30,2 тысячи Штаб-квартира: Батл-Крик, Мичиган, США  Американская компания Kellogg зарабатывает меньше всех среди пищевых гигантов, по итогам 2013 года объем выручки составил лишь $15 млрд. Kellogg является одним из крупнейших в мире хлебообработчиков и производителей печенья. Компания специализируется на производстве сухих завтраков и продуктов питания быстрого приготовления.   Mars Выручка: $33,0 млрд Расходы на рекламу: $2,2 млрд Прибыль: нет данных Сотрудники: 75 тыс. Штаб-квартира: Маклин, Виргиния, США  Из всех компаний, представленных в данном списке, Mars –единственная, которая находится в частной собственности. Mars владеет такими "шоколадными" брендами, как M&Ms, Milky Way, Snickers и Twix. Компания владеет продовольственными брендами, такими как Uncle Ben's, а также производителем жевательных резинок и конфет Wrigley.   Mondelez Выручка: $35,3 млрд Расходы на рекламу: $1,9 млрд Прибыль: $3,9 млрд Сотрудники: 107 тысяч Штаб-квартира: Дирфилд, Иллинойс, США  Компания Mondelez появилась в результате разделения пищевого гиганта Kraft Foods. Во время разделения мировые бренды (Oreo, TUC, Cadbury, Milka, Alpen Gold, Jacobs) достались Mondelez, вто время как американские - Kraft Foods Group. По итогам прошлого года, выручка компании составила $35 млрд выручки при капитализации более чем $72 млрд.   Nestle Выручка: $103,5 млрд Расходы на рекламу: $3,0 млрд Прибыль: $11,2 млрд Сотрудники: 333 тыс. Штаб-квартира: Веве, Швейцария  Nestle по всем показателям является крупнейшей пищевой компанией в мире. Выручка компании за прошлый год составила 92 млрд швейцарских франков. Компания производит растворимый кофе, минеральную воду, шоколад, мороженое, бульоны, молочные продукты, детское питание, корм для домашних животных, фармацевтическую продукцию и косметику. Более 2000 товарных знаков на 461 фабрике в 83 странах мира.   PepsiCo Выручка: $66,4 млрд Расходы на рекламу: $2,5 млрд Прибыль: $6,7 млрд Сотрудники: 274 тыс. Штаб-квартира: Пёрчейз, Нью-Йорк, США  Помимо известных "содовых" брендов, PepsiCo владеет рядом продуктовых торговых марок, таких как Tostitos, Doritos, Quaker. Более того, компания является крупнейшим рекламодателем в мире, расходы компании в этой области в 2012 году превысили $2,5 млрд.   История вопроса Выручка: $68,5 млрд Расходы на рекламу: $7,4 млрд Прибыль: $6,7 млрд Сотрудники: 174,3 тысячи Штаб-квартира: Лондон, Великобритания и Роттердам, Голландия  Unilever трудно назвать пищевой компанией, так как большую часть ее прдуктовой линейки представляют средства личной гигиены и бытовая химия. Однако, на еду и напитки проходится более трети выручки. По итогом прошлого года выручка компании составила 50 млрд евро. Компания владеет такими брендами, как Lipton, Brooke Bond, Calve, Rama, Creme Bonjour и другие.

05 марта 2014, 15:10

23 лучшие цитаты Уоррена Баффетта об инвестировании

  Американский предприниматель Уоррен Баффетт – один из наиболее известных инвесторов в мире. Согласно ежегодному рейтингу миллиардеров журнала Forbes личное состояние главы компании Berkshire Hathaway в 2013 г. составило $58,2 млрд, что делает его четвертым богатейшим человеком на планете.  О том, как добиться успеха на финансовом рынке, Баффетт регулярно рассказывает в своих интервью, книгах и регулярных письмах акционерам Berkshire Hathaway.  Покупка акций – это не просто вопрос цены "Намного лучше купить отличную компанию за неплохую цену, чем неплохую компанию за отличную цену".   Вам не нужно быть гением, чтобы успешно инвестировать "Вы не должны быть ученым ракет. Инвестирование не игра, где человек с высоким уровнем коэффициента интеллектуальности побеждает того, у кого он ниже".   Хорошо знайте азы "Для успешного инвестирования не надо понимать, что такое эффективный рынок, современная портфельная теория, опционная цена или развивающиеся рынки. Возможно, будет лучше, если вы об этом ничего не знаете. С нашей точки зрения, те, кто хочет понимать инвестирование, должны хорошо изучить следующие вопросы: как оценивать бизнес и что такое рыночный курс".   Не покупайте акцию только потому, что ее все ненавидят "Совсем не следует покупать бизнес или акцию только потому, что акция или бизнес сегодня не популярны; стратегия игры против толпы также глупа, как и стратегия следования за толпой. Необходим аналитический подход. К сожалению, общее наблюдение Бертрана Рассела можно отнести и к финансам: "Большинство людей скорее умрут, чем начнут думать".   Плохие вещи не очень заметны в хорошие времена "Вы узнаете, кто плавает голым, лишь после отлива".   Всегда имейте деньги "Я поклялся – вам, рейтинговым агентствам и себе – всегда управлять Berkshire не просто с достаточной суммой наличных денег. Мы не хотим рассчитывать на доброту незнакомых людей, для того чтобы выполнять свои обязательства. Если выбирать, то я никогда не обменяю спокойный сон на возможность получить дополнительную прибыль".   Лучшее время для покупки компании тогда, когда она переживает трудные времена "Самое лучшее для нас случается тогда, когда отличная компания испытывает временные трудности. Мы хотим купить их, когда они на "хирургическом столе".   Акции всегда выходят из кризиса "В долгосрочной перспективе новости с фондового рынка рано или поздно будут положительными. В XX веке США пережили две мировых войны и другие ужасные и дорогие военные конфликты, депрессию, дюжину рецессий и финансовых паник, нефтяной шок, эпидемию гриппа и отставку опозоренного президента. Но Dow вырос с 66 до 11 497 пунктов".   Не поддавайтесь эйфории от неожиданно большой прибыли "Грань между инвестированием и спекуляцией очень трудно различить. Особенно она размыта, когда участники рынка получают большую прибыль. Ничто так не убивает бдительность, как большая сумма легких денег. Как правило, в этот период чувствительный человек начинает вести себя, как Золушка на королевском балу. Он знает, что праздник давно закончился, но продолжает спекулировать с компанией, которая, скорее всего, не принесет прибыль, и в итоге он теряет все".   Оценивайте с долгосрочной перспективой "Ваша цель как инвестора проста – покупать по разумной цене акции компании, которую легко понять и бизнес которой будет сохраниться через пять, десять или двадцать лет. Через какое-то время вы поймете, что таких компаний не так много. Так что когда вы встречаете подобную компанию, то покупайте их акции. Если вы не хотите владеть акцией ближайшие десять лет, то даже не покупаете ее".   Всегда – хороший период времени для владения акцией "Когда мы имеем часть отличного бизнеса с отличным менеджментом, всегда - наш любимый период для владения акцией".   Покупайте бизнес, которым может управлять даже идиот "Я стараюсь покупать акции бизнеса, который так хорош, что им может управлять идиот. Потому что рано или поздно так и происходит".   Вам не следует использовать каждую возможность "Фондовый рынок – это не игра, где необходимо отвечать на каждую подачу. Вы можете пропустить мяч и подождать подходящего момента для удара".   Игнорируйте политику и макроэкономику при выборе акций "Мы продолжим игнорировать политический и экономический прогнозы, которые отвлекают внимание инвесторов и бизнесменов. Тридцать лет назад никто не мог предсказать длительность Вьетнамской войны, ограничение зарплат и цен, два нефтяных потрясения, развал Советского Союза и однодневный обвал Dow на 508 пунктов. Но все эти события не изменили инвестиционные принципы Бенджамина Грэма".   Чем больше вы торгуете, тем ниже ваш результат "Исаак Ньютон открыл три закона динамики. Но существует четвертый закон, для инвесторов: прибыль снижается, по мере того как увеличивается движение".   Цена и стоимость не одно и то же "Очень давно Бенджамин Грэм научил меня, что "цена – это то, что ты платишь; стоимость – это то, что ты получаешь". Говорим ли мы о носках или акциях, я люблю покупать качественный товар, цены на который упали".   Слишком сложные инвестиции не проносят прибыли "По-настоящему стоящая инвестиционная идея может быть объяснена в одном предложении".   Из хорошего бизнесмена получается хороший инвестор "Я лучше как инвестор, потому что я бизнесмен, и лучше как бизнесмен, потому что я не инвестор".   Высокие налоги не являются помехой для сделки "Представьте, что инвестор, которому вы доверяете, предлагает вам присоединиться к отличной инвестиционной идее. Скажете ли вы ему, что ваше решение будет зависеть от размера налогов? Если вы боитесь налогов, то тогда лучше положить деньги на сберегательный счет под 1% годовых". Компании, которые не меняются, лучше всего подходят для инвестиций "Наш подход заключается в том, что мы получаем прибыль от отсутствия изменений. Так, например, мне очень нравится, что жевательная резинка Wrigley не меняется. Такой бизнес мне нравится".   Время покажет "Время – друг отличного бизнеса, но враг посредственности".   Это самая главная вещь "Правило №1: никогда не упускайте деньги. Правило №2: не забывайте правило №1".

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15 ноября 2013, 09:50

США: компания Berkshire Hathaway приобрела 40,1 млн акций Exxon Mobil

Согласно данным регулятивных органов США на 30 сентября текущего года, американская инвестиционная компания Berkshire Hathaway приобрела 40,1 млн акций Exxon Mobil на общую сумму $3,7 млрд. Стоит отметить, что компания Уоррена Баффета также сократила долю в ConocoPhillips на 44% до 13,5 млн акций.

04 сентября 2012, 15:38

Уоррен Баффет: лучшие цитаты Оракула из Омахи

Уоррена Баффета по праву называют одним из величайших инвесторов современности, и в свои 82 года он продолжает активно работать, не теряя ни минуты в поисках новых путей вложения средств. Баффета часто называют Оракулом из Омахи - настолько точными оказываются его экономические прогнозы. Что касается состояния главы инвестиционного гиганта Berkshire Hathaway, то Баффет остается одним из богатейших людей планеты. Каждый раз, когда Баффет начинает говорить на какую-либо тему, его выступления разбиваются на цитаты, которыми уже в следующий час пестрят заголовки СМИ. Правда, больше всего в этом смысле везет акционерам Berkshire Hathaway: каждый из них регулярно получает отчеты от Баффета, которые содержат в себе массу полезных советов и высказываний. Самые известные цитаты Уоррена Баффета: "Правило первое: никогда не теряй деньги. Правило второе: не забывай правило первое". "Я лучший инвестор, потому что я бизнесмен, и я лучший бизнесмен, потому что я инвестор". "Инвесторам нужно помнить, что возбуждение и расходы - их главные враги. И если они будут прилагать усердие к работе с ценными бумагами, то следует быть настороже, пока другими движет жадность, а также быть жадным, пока остальные стоят настороже". "Есть граница, отделяющая инвестирование от спекуляции. Эта линия никогда не была яркой и четкой, а теперь и вовсе становится расплывчатой, когда большая часть участников рынка ощутили свои триумфы. Ничто так не притупляет рациональность, как огромное количество легких денег". "Куда лучше купить замечательную компанию по честной цене, чем честную компанию по замечательной цене". "На рынке акций вам не нужно вкладываться во все подряд. Нужно дожидаться подачи именно вам. Проблема заключается в том, что ваши фанаты все время кричат: "Бей!" "Уолл-стрит - это единственное место, где люди разъезжают на Rolls-Royce в надежде выбить советы от тех, кто ездит на метро". "Давным-давно Бенджамин Грэхем научил меня, что цена - это то, что мы платим, а стоимость - это то, что получаем. Не имеет значения, о чем идет речь - акциях или не акциях. Люблю покупать активы, когда они недооценены". "Совсем необязательно быть мегаученым. Инвестирование - это не та игра, где ребята с IQ на уровне 160 побеждают тех, у кого он 130". "Давным-давно Исаак Ньютон подарил нам три закона движения, ставшие творением гения. Однако дары сэра Исаака не распространяются на инвестиции, ведь, хотя и можно рассчитать движение звезд, человеческое безумие измерить не удастся. В общем, чем большее движение наблюдается на рынке, тем меньше оказываются возвраты на инвестиции". "В конце концов, когда волна отступает, становится видно, кто плавает голым". "Когда у нас в руках оказывается доля особенного бизнеса с особенным руководством, то самый привлекательный срок хранения актива - это вечность". "Наш подход к ведению бизнеса больше обеспечивает доходы за счет нехватки перемен, чем за счет самих перемен. Лично мне, например, нравится жевательная резинка Wrigley. Не думаю, что бизнес Wrigley может как-то пострадать от того же интернета". "Время - это друг отличного бизнеса и враг для посредственного". "Для нас лучше всего, когда великая компания сталкивается с временными трудностями. Тогда мы стремимся купить такой бизнес". "Я стремлюсь покупать акции в таком бизнесе, который настолько прекрасен, что им мог бы управлять даже идиот. Потому что рано или поздно, оно так и будет". "В долгосрочном периоде фондовый рынок будет расти. Ведь в XX веке Соединенные Штаты прошли через две мировые войны, множество других затратных военных конфликтов, Великую депрессию, десяток кризисов и финансовой паники, шоки нефтяного рынка, эпидемию гриппа и отставку опального президента. А ведь индекс Dow Jones вырос с 66 п. 11,497 п.".