{"nodeType":"document","data":{},"content":[{"nodeType":"paragraph","data":{},"content":[{"nodeType":"text","value":"Als ","marks":[],"data":{}},{"nodeType":"text","value":"Warren Buffett ","marks":[{"type":"bold"}],"data":{}},{"nodeType":"text","value":"vor wenigen Wochen den Rücktritt von der Spitze seines Unternehmens ","marks":[],"data":{}},{"nodeType":"text","value":"Berkshire Hathaway ","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":"verkündete, zog der Investor Bilanz. Er müsse zugeben, sagte er, und dafür schäme er sich fast schon, dass er mit einer einzigen Firma mehr Geld gemacht habe als mit allen anderen Investments früherer Jahrzehnte: Wenn er nicht in den US-Smartphonehersteller ","marks":[],"data":{}},{"nodeType":"text","value":"Apple","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":" investiert hätte, hätte er eine schwache Bilanz vorzuweisen. ","marks":[],"data":{}}]},{"nodeType":"paragraph","data":{},"content":[{"nodeType":"text","value":"Ausgerechnet ","marks":[],"data":{}},{"nodeType":"text","value":"Apple","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":". Von Techkonzernen hatte sich Buffett, der fünftreichste Mensch der Welt, stets fern gehalten, weil er sie nicht verstehe, wie er sagte. Dennoch rückte er 2016 von seinen eigenen Grundsätzen ab und investierte in jenem Jahr fast sieben Milliarden US-Dollar in ","marks":[],"data":{}},{"nodeType":"text","value":"Apple","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":". Heute ist ","marks":[],"data":{}},{"nodeType":"text","value":"Apple","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":" noch immer die größte Einzelposition im Portfolio von ","marks":[],"data":{}},{"nodeType":"text","value":"Berkshire Hathaway","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":". ","marks":[],"data":{}}]},{"nodeType":"paragraph","data":{},"content":[{"nodeType":"text","value":"Mit der Anekdote zu ","marks":[],"data":{}},{"nodeType":"text","value":"Apple","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":" habe Buffett, so könnte man meinen, sein Können am Karriereende selbst relativiert. Er habe auch viel Glück gehabt. Doch das wäre zu einfach. Seit Buffetts Übernahme von ","marks":[],"data":{}},{"nodeType":"text","value":"Berkshire Hathaway","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":" 1967 stieg die Aktie um 5,5 Millionen Prozent. Er erzielte eine jährliche Durchschnittsrendite von 20 Prozent. Der US-Aktienmarkt erreichte gemessen am Index S&P 500 nur eine jährliche Steigerung um 10,4 Prozent. Das ist mehr als eine glückliche Investorenhand.","marks":[],"data":{}}]},{"nodeType":"embedded-entry-block","data":{"target":{"metadata":{"tags":[],"concepts":[]},"sys":{"id":"4h5DfYFpgw0Vmr5LptaC4Q","type":"Entry","createdAt":"2025-06-13T11:53:05.757Z","updatedAt":"2025-06-13T11:53:50.672Z","publishedVersion":9,"revision":2,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"infoGraphic"}},"locale":"de"},"fields":{"title":"Der Dauerläufer","description":"Entwicklung der Aktie von Berkshire Hathaway (A-Klasse) seit 1985, Werte in US-Dollar und Tausenden","media":{"sys":{"type":"Link","linkType":"Entry","id":"6s5qgYd0I924aXAOA4MeNf"},"fields":{"id":"SW1hZ2VXaXRoTWV0YS02czVxZ1lkMEk5MjRhWEFPQTRNZU5mX19fMzIzMjE3ZjY0M2MzZTNmMWZlNzUzMmU3MmFjMDFiYjA3NDhjOTdiZQ","url":"//image-service.thepioneer.de/show/mj324dykhxwi/6FCl3a6Flb4b3hlEoSQn9a/5b84041e353551b417382ceb1cd34ad0/Der_Dauerl_ufer-no-header.png","preview":"","width":1320,"height":1551,"assetId":"6FCl3a6Flb4b3hlEoSQn9a","link":null,"title":"Infrografik Aktie Berkshire","description":"","fileSize":966253,"contentType":"image/png"}},"slug":"der-dauerlaeufer","download":{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"5jq19ULQVnCVAj6SBgUAvt","type":"Asset","createdAt":"2025-06-13T11:52:52.045Z","updatedAt":"2025-06-13T16:09:42.339Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":5,"revision":2,"locale":"de"},"fields":{"title":"Der Dauerläufer","description":"","file":{"url":"//images.ctfassets.net/mj324dykhxwi/5jq19ULQVnCVAj6SBgUAvt/0330790e761b020cd2ab84bf2d09647f/Der_Dauerl_ufer.png","details":{"size":1040963,"image":{"width":1437,"height":1905}},"fileName":"Der_Dauerl_ufer.png","contentType":"image/png"}}},"tags":[{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"3uWXw0fslSpnIbGvP6Zw5r","type":"Entry","createdAt":"2025-06-13T11:53:49.380Z","updatedAt":"2025-06-13T11:53:49.380Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"1985"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"1dzfpjXIwI2V8CSFN4QKyB","type":"Entry","createdAt":"2025-06-13T11:53:46.373Z","updatedAt":"2025-06-13T11:53:46.373Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"A-Klasse"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"rI7xg2xhJRLt4B5mBDHp3","type":"Entry","createdAt":"2023-12-18T16:08:30.268Z","updatedAt":"2023-12-18T16:08:30.268Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"Aktie"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"5Ql8hU3n5HodXkv46WSK5b","type":"Entry","createdAt":"2023-12-18T16:06:11.373Z","updatedAt":"2023-12-18T16:06:11.373Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"Entwicklung"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"6GoPOmgKZ77Z2NAFmoWnto","type":"Entry","createdAt":"2023-12-15T16:19:31.113Z","updatedAt":"2023-12-15T16:19:31.113Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"US-Dollar"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"1cQnYWoVsNktPEHpkpRf93","type":"Entry","createdAt":"2022-08-08T03:16:06.797Z","updatedAt":"2022-08-08T03:16:06.797Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":2,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"Berkshire Hathaway"}}],"publishingDate":"2025-06-15T02:00","id":"SW5mb0dyYXBoaWMtNGg1RGZZRnBndzBWbXI1THB0YUM0UQ"}}},"content":[]},{"nodeType":"paragraph","data":{},"content":[{"nodeType":"text","value":"Mit dem nun verkündeten Wechsel an der Spitze von ","marks":[],"data":{}},{"nodeType":"text","value":"Berkshire Hathaway","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":" kommen Fragen auf: Wird sein Nachfolger ","marks":[],"data":{}},{"nodeType":"text","value":"Greg Abel","marks":[{"type":"bold"}],"data":{}},{"nodeType":"text","value":" das Unternehmen ebenso erfolgreich führen? Wie sehr hängt der Erfolg von den Investmentgrundsätzen des Altmeisters ab? Ist die Buffett-Strategie überhaupt noch zeitgemäß? ","marks":[],"data":{}}]},{"nodeType":"paragraph","data":{},"content":[{"nodeType":"text","value":"Gemeinhin könnte man Buffetts Investmentphilosophie auf folgende Kurzformel bringen: eine handverlesene Auswahl an starken US-Werten zum günstigen Zeitpunkt kaufen und Jahrzehnte liegen lassen. Doch das ist nur ein Teil der Wahrheit.","marks":[],"data":{}}]},{"nodeType":"paragraph","data":{},"content":[{"nodeType":"text","value":"The Pioneer","marks":[{"type":"italic"}],"data":{}},{"nodeType":"text","value":" hat sich mit den Investmentstrategien Buffetts und seinem Portfolio auseinandergesetzt. Sein Investmenterfolg lässt sich in sechs Grundsätze zerlegen: ","marks":[],"data":{}}]}]}

Autoren