追随巴菲特脚步 发现航空股ETF的投资价值

(原标题：Like Buffett, Why You Should Find Value in Airline ETF)

出品|华尔街情报局

Who doesn't want to invest likethe Oracle of Omaha or Warren Buffett?

谁不想像奥马哈先知或沃伦?巴菲特那样投资呢?

After all, this Wall Street guru has successfully put his money in the right place and continues to reap huge returns.

毕竟,这位华尔街大师成功地把钱投入了正确的地方,并持续获得了巨大回报。

Buffett's Berkshire Hathaway Inc.BRK.B is up about 19% so far this year (as of November 16, 2016) and added over 115% in the last five years compared to the S&P 500's 6.5% gains this year and an 87.9% five-year return.

截至2016年11月16日，巴菲特的伯克希尔哈撒韦公司B股股价在过去5年内累计涨幅超过了115%,5年的回报率达到了87.9%，而今年标普500指数仅上涨了6.5%。

Following an investor of this aptitude will surely be anybody's dream.

任何人想必都梦想追随拥有高收益能力的投资者。

Normally, Buffett takes interest in companies trading below what he believes is their intrinsic value.

通常情况下,巴菲特对那些交易价值低于其内在价值的公司感兴趣。

He aims long-term outperformance and apparently ignores short-term downturns.

他关注的是股票长期的出众表现,似乎并不关注其短期的下降趋势。

Probably this is why this investment veteran recently picked up some airlines stocks that are currently overlooked by investors.

或许这就是为什么这位投资大亨最近买入了一些目前被投资者忽视的航空公司股票。

The sector is in the bottom 39% of the Zacks Industry Rank at the time of this writing.

目前，航空行业的排名处于Zacks行业评级的下区39%。(注：Zacks行业评级是将265个行业分为上、下两区，排名靠前的132个行业为“上区50%”，排名靠后的133个行业处于“下区50%”)

The stocks that Buffett bought are American Airlines AAL , Delta Airlines DAL and United Continental Holdings Inc.UAL .

巴菲特最近买入的股票是美国航空公司(AAL)、达美航空公司(DAL)和美国联合航空公司(UAL)。

As per sources, Buffett also bought Southwest Airlines Co.(LUV)recently.

据报道,巴菲特近期还买入了西南航空公司股票(LUV)。

Why Buffett Catches Airlines?

为什么巴菲特会买入航空股?

This shows a tectonic shift in preference as Buffet has stayed away from airline stocks for long.

这是他投资喜好的“结构性转变”,因为长期以来,巴菲特一直远离航空股。

But the latest surge in interest can be credited to a decent level of share buybacks by airlines, as per Market Watch .

但是,据Market Watch报道，他最近对航空股的兴趣增加，归功于航空公司的股票回购举措。

The industry's profitability and efficiency ratios have also improved in recent times, barring some exceptions.

除了个别情况外,航空行业的盈利能力和效率比最近也有所改善。

In the latest reporting cycle too, the beat ratios show that the corporate strength in the airlines industry is not as bleak as the stock trend.

在最新的财报季，航空公司财报超出预期,这表明航空业的企业实力并不像其股票走势那样低迷。

Plus, most of the airlines are restraining capacity growth , which should improve unit revenues.

另外,多数航空公司都在控制产能增长,希望能提高单位客运收入。

Investors should also note that UAL, AAL and DAL carry a Zacks Rank #3 (Hold) each with a VGM score of A, which is a combination of value, growth and momentum characteristics.

投资者还应注意到，美国航空公司(AAL)、达美航空公司(DAL)和美国联合航空公司(UAL)都获得了Zacks Rank #3(持有)，并在VGM中分数得到了A(VGM是通过评估价值、增长和动能生成的一个组合)。

The trio especially has a Value score of 'A' .

特别要说明的是，这三家公司的价值分数都达到了A。

Though LUV is not in our favored list with a Zacks Rank #5 (Strong Sell), it still has a VGM score of B with the same value score.

虽然西南航空公司股票(LUV)不在我们青睐的名单上，且拥有Zacks Rank #5(强烈卖出)，但它在VGM评分中仍然达到了B，且在价值这一项也达到了A。

Since Buffet is a fan of value investing, his sudden interest in airline stocks is self-explanatory.

由于巴菲特是一位价值投资者,那么他对航空公司股票突然感兴趣就不言自明了。

Below we elucidate how cheap these four stocks are compared to the air transportation industry and the S&P 500 using various valuation metrics:

下面我们用多种评估指标来解释，这四只股票相较航空运输业和标准普尔500指数有多便宜：

If these were not enough, airlines expect a 2.5% surge in travelers in the thanksgiving weekend and accordingly beefed up the number of flights and seats.

如果这些还不够的话，航空公司预计，感恩节周末的旅客人数将激增2.5%，相应的增加了航班和座位数量。

All in all, investors intending to follow Buffett's latest move on airlines stocks and having faith in the industry fundamentals may find U.S. Global JetsETF JETS an intriguing choice.

总而言之，投资者想要追随巴菲特对航空公司股票的最新动向，并对行业基本面有信心，可能会发现U.S. Global Jets ETF(JETS)是一个不错的选择。

The $49.7 million-fund holds over 34 stocks in its portfolio and is concentrated on a few individual securities.

JETS基金规模高达4970万美元,其投资组合包括34只股票,并且主要集中在少数股票上。

United Continental (13.26%), Delta Airlines (13.11%), Southwest Airlines (12.78%) and American Airlines (12.61%) are the top four elements in the basket.

该基金的投资篮子中，排名前四位的航空公司分别是联合大陆航空(13.26%)、达美航空(13.11%)、西南航空(12.78%)和美国航空(12.61%)。

The fund gained about 5.2% in the last five trading sessions (as of November 17, 2016).

在最近的5个交易日(截至2016年11月17日),该基金上涨了约5.2%。

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