저자: Jeremy—워런버핏CNBC인터뷰리캡 · 외국인
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버핏의 2017년 CNBC 인터뷰 요약 리캡이며, 시장은 버블도 저평가도 아닌 적정가치 구간이라는 진행자의 해석이 중심이다. [시장·경제 전망] 버핏 발언: 시장은 과열(버블)도 저평가도 아니고 적정가치 구간. 미국 경제는 연 1~2% 성장으로 무난하며 특별히 좋지도 나쁘지도 않다. 장기적으로 미국과 선진국 경제는 계속 성장한다는 입장. [버크셔 투자 행보] 트럼프 당선 이후 약 200억 달러 이상 주식 매수, 현금 약 800억 달러 보유. 정치 성향과 투자 판단은 분리해야 한다는 메시지. [애플] 버핏이 애플 1억 3,300만 주 매수(주가 약 136~137달러 기준 엄청난 규모). 추가 매수는 안 하지만 매도도 하지 않는다고 함. 애플을 기술기업보다 반복 매출이 있는 소비재 기업으로 재해석. 실적은 '괜찮았다' 수준이라는 평가. 진행자는 자사주 매입과 버핏 매수로 유통 주식이 줄어 주가를 떠받친다고 해석. [항공주] 여러 항공사 지분 5~9% 보유, 적극 매수. 향후 신규 항공기 주문이 많지 않아 과잉 경쟁 가능성이 낮다고 판단. 과거 항공주 투자 손실 경험이 있음. [리테일·아마존] 월마트 지분 대부분 매도. 리테일 환경을 예측하기 어렵고 아마존의 지배력이 커서 불확실성이 높다고 봄. 아마존은 PE가 너무 높아 매수하지 않음. [투자 조언] 전문 투자 자문·펀드매니저의 수수료(2% 운용보수, 20% 성과보수) 문제를 지적하고, 열정과 능력이 없다면 인덱스펀드 투자가 낫다는 메시지. 진행자도 동의하며 자신의 견해와 일치한다고 강조. [기타] 진행자는 필립 피셔의 『Common Stocks and Uncommon Profits』 추천을 언급하고, 별도로 종목 추천 영상 예고.
다듬은 글
good day subscribers thank you so much for joining me today I am Jeremy this is the financial education Channel and today we're talking about Warren Buffett in the CNBC interview that happened yesterday he talked for three hours I watch it every single year this is the 10th year they've done it he usually does about two guest appearances per year one he talks for maybe about an hour they interview maybe an hour and a half and the other one which is the main one that happened yesterday they always do like right after after his um I guess investment letter comes out and he talks for like three hours I watched every single minute of this guys and basically I'm going to take you through the seven biggest things that that came out of his mouth and I think it's extremely important to pay attention to what he says about whatever he's talking about because one we got to acknowledge that he's the most successful investor of all time two we got to acknowledge that he's like my investing God I look up to and three we must acknowledge that he's got insight into so many different businesses from all over the world and I mean birkshire halfway owns dozens and dozens of businesses guys directly and they also own stock in in dozens and dozens of businesses so this is a guy that has an insight to literally entire world literally the entire economy guys so that's why I pay so much close attention that's why I watch a three hour interview with them that's why it's worth it for me to even do this video to you guys to tell you the seven biggest things that came out of it so let's get into this guys I hope you enjoy it hit a thumbs up if you do so one the first biggest thing they talked about was uh the stock market are we in a bubble right now is it getting Bubblicious and his answer was no we're definitely not in a bubble that's the same thing I preach and he also preached the same thing I've been preaching which is um we're fairly valued right now are we undervalued absolutely not are are we in a bubble absolutely not we're somewhere in between right now we're in a we're in a fair value market right now as far as the stock market goes stock Market valuations guys it's exactly what I tell you guys is exactly how I feel personally the market is right now he they also ask him about the overall economy he said it it's it's decent it's nothing amazing but at the same time it's nothing bad it's just a decent economy right now we're growing one to one to 2% and you know he preached like he usually does about if we can just grow 2% GDP for the Next Generation that's $199,000 per capita income you know for everybody so that's a massive amount more money guys so and he talked about Pro USA and why the United States system works and how nobody can really duplicated and all the type of things he usually talks about those kind of regular things the second biggest thing is that he his company he and his company have bought over $20 billion worth of stocks since around the election time so since you know Trump got elected around then he's bought over 2020 billion do so this is this is why I preach to you guys don't mix your investing with money and he actually preached that in the video he mentioned something very similar to that just in a different W choice or whatever don't mix you know a political feeling because remember he was a proponent for Hillary Clinton he was absolutely totally for Hillary Clinton he even did a speech or maybe multiple speeches for Hillary Clinton guys and then who's elected Donald Trump and he even said not some nasty things necessarily about Trump but he was definitely you know against Trump and definitely for Hillary but he doesn't let that clout his judgment in making an investment in making money guys so he's put over $20 billion to work in stocks S I mean that's just a ridiculous number out there guys $20 billion and they still have over $80 billion in cash to actually invest if they want to so he's put a massive amount of money to work he's not scared about the economy at all right now and plus he has a philosophy kind of like I do which is in invest no matter what there's always going to be things that are scare you there's always going to be the doomday sers there's always going to be the people saying oh well this is this is this is this is this and it happen for generations and generations and generations guys there's always going to be those people and what happens we move along we move along do we have a hiccup every once in a while yes we do we have a recession here and there we have a you know stock market crash every once in a while these things happen but over the long term United States of America and most countries worldwide that are developed they're going to truck along just fine guys number three the biggest thing apple he is they have bought $133 Million worth of shares if you want to know what type of dollar amount that is times 133 million times whatever Apple stock pric is right now $136 $137 a share absolutely insane they have made a monstrous investment over the last few months now he also said he's not buying any more apple he didn't say he was selling apple he actually said he wasn't selling Apple he's just not buying anymore and I can understand that sometimes I get in a stock and and you know goes up a certain amount and then I'm just like okay I'm good like I'm just holding my shares at this point or holding my options contracts whatever I I bought into so that's what he's doing with apple and they asked him you know why why Apple why Apple now because he's never really invested in many tech companies especially not a company like apple they've asked them in the past you know I've been watching these interviews since I started investing 9 10 years ago or whatever and you know he's always said oh I don't quite understand Apple's business model quite good enough well now he all of a sudden does and now he views apple as not just like a tech company but a consumer Products company that has a recurring Revenue stream from things like Services things like um people just if they have an iPhone now they're just going to get another iPhone and another iPhone in a few more years and things like that so he can he use it as a consumer Products company which in my opinion kind of is correct in in apple you know uh it doesn't mean they can't lose some market share here and there but for the most part they're a consumer Products Company it's not really so much about tech for them anymore at this point it's about just keeping the customers they have and and not necessarily they don't have to really expand they can expand in new markets and some of those kinds of things guys his philosophy on Apple also was that earnings were just okay which is exactly what I said about Apple's earnings they I mean Apple's earnings they beat yes but they wasn't like some kind of great beat that the stock was flying up like it did which did so you know that was his opinion on it and that's kind of my opinion on Apple's earnings you know were they okay absolutely did they meet expectations absolutely were they outstanding absolutely not so that's his view on Apple and that's kind of that's exactly my view on Apple so we'll have to see what happens there but I can guarantee you he's helped push up that Apple stock price because you can't just buy 133 million shares and take those off the market and now that he's holding those shares now there lot less shares on the market to even buy guys and mind you apple right now is doing a huge share buyback so you got Apple buying all these shares you got Buffett buying all these shares a ton of shares came off the market for Apple which means the price that other people have to pay is generally going to be higher because there's less shares to buy at this point for newer investors who want to get in guys so you can see some things there four he kept preaching this book called Common Stocks uncommon profits he kept preaching this book and it's a book I haven't really heard him preach that much um I'm going to leave the the link in the in the description I'll also leave the link in the comment section if you guys even want to buy that book he like praise this book so much and he's like you know if I had one he's always preached the Ben Graham book which is the uh the intelligent investor which is my favorite investing book but he preached this book called Common Stocks and uncommon profits by Phil fiser he preached it like he brought it up at least three or four times in the interview it was insane it's a book that was written like back in the 60s or 70s but he thinks it's like The Golden Book you know all of a sudden so I'm going to leave that in the description in case you guys want to check it out or look into it or whatnot just in case but he mentioned it several times it was it was strange number five he's been buying the airlines like crazy he's he owns I think three or four Air airlines right now and almost all those positions are between a five and 9% stake in those Airlines he's been buying the airlines like insane guys and and they asked him about that because he lost a ton of money on the airline St box it back in the 80s so they they kind of pushed him on that and without directly saying it but you know he kind of you know alluded to the fact that there's just a few bigger Airlines now uh fuel costs are down and things like that and and future the way he kind of views it is he looks at like future orders for new planes and there's not a a robust bunch of new planes that are supposed to be coming online the next few years which means some safety to them which means the chances that ticket price would come down drastically probably not that much as long as the you know the planes don't get overloaded or not overloaded but underloaded we should say and there's too many planes are trying to fill up guys so it would make the competitive landscape too scary out there guys so that's his view on the airlines he's been buying them like crazy uh number six he sold uh the majority of his Walmart because of Amazon because of Amazon he said retail's too hard for him to figure out right now and he's not buying Amazon currently they kind of pushed him on that why are you not buying Amazon he he just you know kind of was like H you know basically I know why he's not buying Amazon because he's trading at 100 and something PE I can understand why he's not buying Amazon right now but that's why he sold his Walmart which is once again another philosophy that I have that Amazon's just killing the competition right now and it's it's it's hard to find good retailers out there they're few and far between right now there's never been there's never been um this type of dominance coming into the Retail Landscape that Amazon's kind of showing right now guys Walmart absolutely in their day had their moment where they came in and really tore some stuff up but I don't think it was anything compared to what Amazon's doing to retail right now guys so that's why he's fearful of retail that's why he's not really touching anything real retail related because he's just like it's hard to see like the vision for anything maybe than other than Amazon but he doesn't want to buy Amazon because the same reason I don't because it's at a ridiculously high PE guys and the last thing they talked about was uh they talked a good deal about for at least I don't know 10 20 minutes about his philosophy on how so many people waste money on investment advice waste money on investment advice you know from investment advisors uh people that he they have uh you know running their money things like that trying to pick out a good investment manager those kinds of things how they take their two and 20% you know a lot of these investment managers they take 2% of whatever you had in your account that year regardless of whether it went up or down and they take 20% of all profits guys 20% of all profits so there's a massive amount of guys and gals out there doing that and and he's like these these people you know 90 plus perc of them are not even getting the same the same return on the market so basically what he was kind of preaching is if you're not which is exactly what I preach once again we like on the same wavelength uh if you're not really dieh hard investor just invest in index funds if you're not really into it if you don't have the Ty personality to do it if you don't have the work eth ethic to do it and whatnot to be a successful investor then just invest in index funds you don't need to necessarily go and have your your money managed by some uh fancy investment manager or something like that because it's good chance they're not going to even be able to beat the market and then they're going to when they do when they are able to beat the market they're going to take 20% of the profits a lot of these guys and gals guys so he was preaching that which is pretty much the same thing I preach guys so we're on the same wavelength a lot and that's just another reason reason why I love listening to him cuz you know like I said we're on the same wavelength so those were the seven biggest subjects I took out of of um his whole three-hour interview guys those are the seven biggest out there and I really enjoyed it you guys should watch it sometime unless you're not into that kind of thing which I can understand he's like 86 years old maybe he's not the most exciting guy in the world so whatever so anyways I hope you guys enjoyed this later today I got the three stocks I'm buying video coming out in Prime Time guys I hope you enjoy that and should I release a little secret now a stock got kicked out of the three stocks I'm buying one stock got kicked out we got new one incomer coming in I shouldn't even release that secret maybe I'll maybe I'll edit this out in post production thank you for watching guys and have a great day
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