吊られた男の投資ブログ (インデックス投資)

I have good news for these nonprofessionals: The typical investor doesn't need this skill. In aggregate, American business has done wonderfully over time and will continue to do so (though, most assuredly, in unpredictable fits and starts). In the 20th century, the Dow Jones industrial index advanced from 66 to 11,497, paying a rising stream of dividends to boot. The 21st century will witness further gains, almost certain to be substantial. The goal of the nonprofessional should not be to pick winners -- neither he nor his "helpers" can do that -- but should rather be to own a cross section of businesses that in aggregate are bound to do well. A low-cost S&P 500 index fund will achieve this goal.

アメリカ最強

　米著名投資家ウォーレン・バフェット氏の投資会社バークシャー・ハザウェイは３日、米鉄道大手バーリントン・ノーザン・サンタフェ（ＢＮＳＦ）を買収すると発表した。77.4％の株式を260億ドル（約２兆3000億円）で取得し、既に保有している分とあわせて100％子会社にする。

"As energy prices go up, it becomes more and more important to ship by rail--that's a factor," Buffett said in an interview with The Wall Street Journal. "It's a factor in why the country has a huge interest in fostering rail." He said that rails "carry a lot of coal, but 25 years from now they won't be carrying as much."

　株式交換を円滑に行うため、バフェット氏は、株式分割に長い間反対してきた方針を転換し、バークシャーのクラスＢ株１株を５０株に分割することに合意した。

Warren Buffett owns 350,000 shares, or 33%, of Berkshire Hathaway Inc.'s (BRKA BRKB) class A and 1.5 million shares, or 10%, of class B common stock, he said Tuesday.

The shares represent 31.6% of the aggregate voting power of Berkshire's shares and 25.78% of the economic interest of the shares, he said in a Securities and Exchange Commission filing Tuesday.

If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.

Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.

Equities will almost certainly outperform cash over the next decade, probably by a substantial degree. Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring Wayne Gretzky’s advice: “I skate to where the puck is going to be, not to where it has been.”