r/valueinvesting
过去几周建仓了这些标的
作者详细分享了建仓 ADBE、CRM、NOW、SAP、RELX、WKL、PEGA、MSFT、PYPL、NKE、ADYEN、NVO 和 ABT 的价值投资逻辑。
- 多家高质量公司交易估值具有吸引力或低于历史倍数。
- 企业软件中的 AI 整合正推动实际收入增长并降低流失率，而非造成颠覆。
- 强大的竞争护城河、定价权和嵌入式工作流提供了下行保护和长期稳定性。
过去几周一直在不同板块悄悄建仓。
ADBE：认为AI会摧毁Adobe的说法忽视了一个事实，即Adobe正积极将AI整合进其产品中。目前该股交易价格低于历史估值倍数，同时AI收入增长强劲，这看起来更像是暂时的市场错配。
CRM：Agentforce尚处早期，但确有实效。Salesforce拥有企业关系网络和分销渠道，足以让AI代理真正落地。
NOW：ServiceNow具备定价权，企业合同粘性强，且AI整合反而降低了客户流失率，而非带来风险。
SAP：虽然不如美国同行受关注，但业务转型真实存在，估值也更为宽容。
RELX：客户很难轻易离开这些平台。高盛最近将其加入买入名单，公司也启动了股票回购计划。
WKL：与RELX类似。深度嵌入会计、法律和合规工作流程中。
PEGA：在我看来，股价远低于内在价值。
MSFT：从第一天起就是我最青睐的持股。看到当前价位真是令人欣喜。
PYPL：品牌化结账功能趋于稳定，利润率改善，而你只需支付一个极低的倍数，就能获得一个拥有超过4亿活跃账户的网络。
NKE：我知道耐克确实曾面临执行问题，但品牌基本面依然稳固，新任CEO在直营渠道方面正采取正确的举措。
ADYEN：欧洲最优质的金融科技企业之一。交易量增长已重回正轨，长期在企业支付领域的布局依然坚如磐石。
NVO：是的，GLP-1的竞争确实存在，估值也相应调整。但诺和诺德的研发管线、制造规模优势以及在肥胖症/糖尿病领域的品牌影响力，使其风险收益特征与市场定价完全不同。
ABT：一家稳健且多元化的医疗健康企业，却常被忽视。
我很想知道大家对这些选股的看法，尤其想听听对软件公司面临AI颠覆的反驳意见。
How much are you down ytd?
Everthing below 50% is a win i guess
Yeah its crazy i own wkl Adyen and now aswell the only thing keeping my ytd up is the ia trade lol
Haha, yeah, same for me. Overall I’m up YTD thanks to all the AI picks and Big Data and AI focused ETFs
Bagholders Anonmyous should be the name of this sub lol
I highly doubt you have a deep understanding of every company you bought. Who has time to follow and research all of them? Many hedge funds don't even have as many positions and you have over a dozen that only accounts for small portion of your portfolio.
Seriously what's the point?
Why buy stocks that are going up, when you can buy stuff that keeps going down!
That’s 13 companies….. you seriously couldn’t pick between those 13? There have to be one or 2 that have better numbers or you like better. 13 is a full portfolio, there’s no way you like them equally. And if it is your whole portfolio then it’s horribly diversified .
Of the list there are about 3-4 I don’t know about, 2 I like (Abbt and now) 3 I’ve looked at and I wouldn’t touch (nke, pypl, nvo )…. And the rest are “fine” at best
Look it’s your money and I may be completely wrong, so do what you think is best, but that feels like a real ugly portfolio
I get your point, though I’m not really giving any context about my portfolio allocation. The vast majority (\~80%) of my money is in ETFs/index funds. But I also like buying individual stocks when I think the market is wrong. So the stocks mentioned in this post are part of that portion of my portfolio, among others ofcourse.