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Excerpts from the May 11 issue of the current "old Xie Kai speak" column) annual Polkia shareholders meeting, is always the focus of the global investment community pilgrimage, we all want to hear the Warren Buffett in the new year what new Investment point of view.

This year is the 52nd anniversary of Polk's shareholders' meeting. On May 6, the eighty-year-old Buffett and 99-year-old vice chairman Charles Munger attended the meeting in Nebraska Omaha City shareholders meeting, and answer shareholders questions, and Polkia also chose to announce the first quarter of the quarterly report on the eve of the shareholders' meeting.

US stock market experienced the longest bull market in history, if starting from 2008, this year is the ninth year. US stocks in the Chuan Pu election, the first quarter of the Dow Jones index rose to 21169 points, but Polk's first quarter results reported that it appears to be unsatisfactory.

Polk's net profit for the first quarter of this year is forty. 600 million US dollars, A shares EPS (net profit per share after tax) to 2469 US dollars, compared to the same period last year after the net profit of fifty-five. $ 900 million, A shares of $ 320,400, are not good. If deducted this year's investment and derivative goods trading profit five. $ 400 million to Buffett has always preferred to deduct investment profits profits thirty-five. $ 600 million to calculate, that is, A shares of EPS for the $ 263 million, the same period last year is also reduced by four. Eighty-eight percent.

Polkia only issued 16,400 shares, like the big vertical light has been maintained at one. Three hundred million shares in general, because the number of shares issued, the stock is always high, Buffett rely on the precise investment vision, hold up the high price of Polk. Polkia A shares five years of EPS up to 14645 dollars, if the seven on July 8 closing price of twenty-four. $ 70,000 to calculate, the market value is 4046. $ 600 million in the global list of large enterprises, ranked Apple, Alphabet, Microsoft, Amazon, Facebook, is the world's sixth largest market value of the enterprise.

** Bokshi dragged down by the life insurance business, poor earnings **

Compared to the top five technology companies, Polkia purely return on investment income investors, and let the market value of the snowball as much as roll, which is Buffett's life most respected investors. An investment company experienced half a century, and enduring, Buffett's investment vision and perseverance perseverance.

But the technology stocks in the years, Mercedes-Benz, Buffett has struggled, the Polk's shareholders meeting, Polk's financial statements revealed the most powerful signal is Berkshire was life insurance business trip. Polk's core investment in General Re, due to a hurricane in Australia to increase costs and fall into a loss, the other car insurance company GEICO profit recession 34%, the overall loss of insurance business two. $ 67 billion, the other in the railway and energy remained stable growth.


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