viernes, 30 de noviembre de 2018

SKEW: indicador que alerta de periodos bajistas


The SKEW index is a measure of potential risk in financial markets. The Skew Index measures perceived tail-risk in the S&P 500. Tail-risk is a change in the price of the S&P 500 or a stock that would place it on either of the tail ends, or the far edges of the normal distribution curve.

viernes, 16 de noviembre de 2018

Cartera de Corporación Alba


El Valor Neto de los Activos (NAV) se situó en 4.422,3 millones de euros a 30 de septiembre de 2018, equivalente a 75,93 € por acción. La cotización de la acción de Alba a esa misma fecha, 47,95 €, supone un descuento del 36,8% respecto al NAV por acción. “El NAV, tanto en términos absolutos como por acción, ha aumentado un 9,2% y un 7,9% respecto a la misma fecha del año anterior”, explica el holding en su nota de resultados.

www.finect.com/blogs/insiders/articulos/apuestas-corporacion-financiera-alba-caidas-octubre


Cartera de W. Buffett a 30 de septiembre


Fuente: Zerohedge.com

Buffett added 2 new banks to his portfolio, JPMorgan and PNC Financial, adding some 35.7 million shares of the former and 6.1 million shares of the latter, amounting to $4 billion and $829 million as of Sept. 30, respectively.

Why the bank additions? Buffett may be hoping that a stronger U.S. economy and rising interest rates will benefit the nation’s biggest banks. In fact, Berkshire is now a major shareholder in four of the five biggest U.S. banks - only Citi is not on the list - and he boosted his investments in Bank of America Corp. by 29 percent and Goldman Sachs Group Inc. by 38 percent (more below).
Berkshire entered new stakes in Oracle in the third quarter (41.4 million shares, or $2.1BN as of Sept 30) and put on a new bet on insurer Travelers (3.5 million shares, amounting to $460MM), which is somewhat surprising as it competes with Berkshire's own Geico unit. These new positions were offset by exits in his smallish positions in Walmart and Sanofi.
Buffett also boosted his stakes in Apple by 523K shares, bringing his total to 252.5MM shares, amounting to $57 billion as of Sept. 30, a number which is about 20% lower today, when the world's most valuable entered a bear market. Berkshire also added to its stakes in Bank of America, US Bancorp, Goldman, Bank of New York Mellon - in fact his 77.8 million stake makes him BoNY's top shareholder with a 7.9% stake in the custody bank - as well as Delta, and General Motors.
With these latest additions, Buffett is now the biggest shareholder in Bank of America, Bank of New York, Wells Fargo and US Bancorp.
Buffett also unexpectedly cut stakes in what was formerly his favorite bank, Wells Fargo, which is now his 3rd most valuable position at $23.2BN as of Sept 30, after top holding Apple and dropping behind Bank of America, his 2nd largest holding at the end of Q3 at $25.8BN as of Sept 30. Berkshire also cut stakes in Phillips 66, as well as several airlines including American Airlines, United Continental, and Southwest.

Warren Buffett - Berkshire Hathaway
Period: Q3 2018
Portfolio date: 30 Sep 2018
No. of stocks: 46
Portfolio value: $221,020,177,000
HistoryStock% of portfolioSharesRecent activityReported Price*Value
AAPL - Apple Inc.25.79252,478,779Add 0.21%$225.74$56,994,561,000
BAC - Bank of America Corp.11.69877,248,600Add 29.20%$29.46$25,843,745,000
WFC - Wells Fargo10.52442,361,700Reduce 2.14%$52.56$23,250,531,000
KO - Coca Cola Co.8.36400,000,000$46.19$18,476,000,000
KHC - Kraft Heinz Co.8.12325,634,818$55.11$17,945,735,000
AXP - American Express7.30151,610,700$106.49$16,145,025,000
USB - U.S. Bancorp2.98124,923,092Add 24.06%$52.81$6,597,189,000
MCO - Moody's Corp.1.8724,669,778$167.20$4,124,787,000
GS - Goldman Sachs Group1.8618,353,635Add 38.47%$224.24$4,115,619,000
JPM - JPMorgan Chase & Co.1.8235,664,767Buy$112.84$4,024,412,000
BK - Bank of New York1.8077,849,476Add 20.14%$50.99$3,969,546,000
DAL - Delta Air Lines Inc.1.7165,535,000Add 2.94%$57.83$3,789,889,000
LUV - Southwest Airlines1.5856,047,399Reduce 0.88%$62.45$3,500,160,000
DVA - DaVita HealthCare Partners1.2538,565,570$71.63$2,762,452,000
CHTR - Charter Communications1.087,340,985Reduce 2.17%$325.88$2,392,280,000
UAL - United Continental Holdings1.0525,984,542Reduce 2.62%$89.06$2,314,183,000
ORCL - Oracle Corp.0.9741,404,791Buy$51.56$2,134,832,000
VRSN - Verisign Inc.0.9412,952,745$160.12$2,073,994,000
AAL - American Airlines Group Inc.0.8243,700,000Reduce 2.24%$41.33$1,806,121,000
GM - General Motors0.8052,461,411Add 2.08%$33.67$1,766,376,000
PSX - Phillips 660.7915,433,024Reduce 55.56%$112.72$1,739,611,000
USG - USG Corp.0.7639,002,016$43.31$1,689,178,000
V - Visa Inc.0.7210,562,460$150.09$1,585,320,000
LSXMK - Liberty SiriusXM Series C0.6131,090,985$43.45$1,350,903,000
MA - Mastercard Inc.0.504,934,756$222.61$1,098,526,000
COST - Costco Co.0.464,333,363$234.88$1,017,820,000
TEVA - Teva Pharmaceutical Industries Ltd.0.4243,249,295$21.54$931,589,000
MTB - M&T Bank Corp.0.405,382,040$164.54$885,561,000
SIRI - Sirius XM Holdings Inc.0.39137,915,729$6.32$871,627,000
PNC - PNC Financial Services0.386,087,319Buy$136.19$829,032,000
AXTA - Axalta Coating Systems Ltd.0.3224,264,000$29.16$707,538,000
LSXMA - Liberty Sirius XM Series A0.2914,860,360$43.44$645,535,000
SYF - Synchrony Financial0.2920,803,000$31.08$646,557,000
LBTYA - Liberty Global Inc.0.2619,791,000$28.93$572,553,000
TMK - Torchmark Corp.0.256,353,727$86.69$550,804,000
QSR - Restaurant Brands International0.238,438,225$59.28$500,218,000
STOR - STORE Capital Corp.0.2318,621,674$27.79$517,496,000
TRV - Travelers Companies Inc.0.213,543,688Buy$129.71$459,652,000
LBTYK - Liberty Global Inc. C0.097,346,968$28.16$206,891,000
LILA - Liberty LiLAC Group A0.032,714,854$20.84$56,578,000
JNJ - Johnson & Johnson0.02327,100$138.17$45,195,000
MDLZ - Mondelez International0.01578,000$42.96$24,831,000
PG - Procter & Gamble0.01315,400$83.23$26,251,000
LILAK - Liberty LiLAC Group C0.011,284,020$20.63$26,489,000
UPS - United Parcel Service0.0059,400$116.75$6,935,000
VZ - Verizon Communications0.00928$53.88$50,000