Warren Buffett's Approach To Investing In Election Years
Warren Buffett's Approach To Investing In Election Years
Warren Buffett, known as the "Oracle of Omaha," is regarded as one of the best American investors of all time. Still running the Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) at 93 years old, Buffett has navigated his portfolio through various bull markets, downturns and election cycles.
沃伦•巴菲特被誉为“奥马哈贤仙”，被认为是有史以来最好的美国投资者之一。在93岁高龄仍在运营Berkshire Hathaway（纽交所：BRK）的同时，巴菲特已经在各种牛市、下跌和选举周期中导航他的投资组合。
What Are Buffett's Politics?
Buffett has declared himself a Democrat, but not a "card-carrying Democrat." In 2020, Buffett said he would have no problem voting for Mike Bloomberg, who was running for the Democratic presidential nomination at the time, according to Reuters.
巴菲特的政治立场是什么？
巴菲特曾自居为民主党人，但不具有党派证明。2020年，据路透社报道，巴菲特表示他不会有任何问题投票支持当时参选民主党总统候选人的迈克·布隆伯格。当时，巴菲特还表示他同意伯尼·桑德斯的某些政策。在2016年的总统选举中，巴菲特支持希拉里·克林顿竞选总统，但在特朗普赢得选举后，并未因此惊慌失措地改变自己的投资策略。
At the time, Buffett also said he agreed with some of the policies of Bernie Sanders. Buffett supported Hillary Clinton in her run against Donald Trump in 2016, but did not get spooked and alter his investment strategies when Trump won the election.
当时，巴菲特还表示他同意伯尼·桑德斯的某些政策。巴菲特在2016年支持希拉里·克林顿竞选总统，但在特朗普赢得选举后，并未因此惊慌失措地改变自己的投资策略。
How Does Buffett Manage His Portfolio During Election Years?
巴菲特在选举年份如何管理自己的投资组合？
Buffett is a big believer of adding to his winners and cutting losers. He doesn't shy away from that strategy during election years, regardless of who is leading in the polls or the favorite to win.
巴菲特非常信奉增加赢家和削减失败者的策略。他在选举年份也不会回避这一策略，无论谁在民调中领先或是赢面最大。
In 2016, ahead of the election between Clinton and Trump, Buffett significantly trimmed his position in Walmart Inc (NYSE:WMT) and Deere & Co (NYSE:DE). At the time, he added to his positions in Apple Inc (NASDAQ:AAPL), which he has recently trimmed, as well as adding to his positions in airline companies like Southwest Airlines (NYSE:LUV), Delta Airlines (NYSE:DAL) and others, according to ValueSider, a site that tracks funds' 13-Fs and other filings.
2016年，在克林顿和特朗普之间进行总统选举之际，巴菲特在华尔街日报的一次采访中表示，他大幅减持了沃尔玛和迪尔股份的持仓，而同时加入了苹果公司等航空公司股票，如西南航空公司（纽交所：LUV）、达美航空公司股份等。此外，还根据ValueSider网站，巴菲特加大了投资基金13-F和其他备案的仓位。
In 2020, Buffett appeared to be a little cautious with his buys, adding predominantly energy stocks as well as different 'COVID plays' during the pandemic. In the lead up to the 2020 election, Buffett bought shares of Bank of America (NYSE:BAC), Pfizer Inc (NYSE:PFE), AbbVie Inc (NYSE:ABBV) while trimming his position in financial stocks like JPMorgan (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC).
2020年，巴菲特在购买股票时显得有些谨慎，在疫情期间，他主要购买了能源股票和其他各种‘COVID项目’。在2020年大选前，巴菲特购买了美国银行、辉瑞公司和AbbVie公司的股票，同时减少了摩根大通和富国银行等金融领域的持仓。
In Conclusion: Throughout various turbulent times, Buffett has preached to his followers to never bet against America. In 2018, Buffett told investors that while a lot of people worry about political division in the country, things tend to work out.
总结而言：在各种动荡时期，巴菲特一直对追随他的人说，千万不要押注美国。2018年，巴菲特告诉投资者，虽然许多人担心美国的政治分歧，但事实证明这种担心是多余的。
"Multiple times in my life, people have felt the country was more divided than ever," he said in 2018, at Berkshire Hathaway's annual shareholders meeting. "After every election you'll have people feeling the world is coming to an end and, you know, 'How could this happen? Through it all, you know, America — in fits and starts — but America really, really moves ahead."
他在2018年伯克希尔哈撒韦公司的股东大会上说：“我一生中有几次，人们都觉得我们国家比以往任何时候都更加分裂。在每一次选举之后，你都会有人感觉到世界末日正在到来，你知道，‘这怎么会发生？’尽管如此，你知道，美国——虽然经历了停滞和起伏——但美国真的真的在朝着前方迈进。”
So, while some investors may switch up their strategies during election years, Buffett mostly stays true to the investing strategies that he's developed throughout the last 50+ years, and doesn't get caught up in the volatility during election years.
因此，虽然一些投资者可能会在选举年份改变其策略，但巴菲特大多数情况下会忠实于他在过去50多年中发展起来的投资策略，并不会在选举年份受到市场波动的影响而改变投资决策。
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图像由Midjourney通过人工智能创建。