{"id":2391,"date":"2025-11-19T06:32:50","date_gmt":"2025-11-19T06:32:50","guid":{"rendered":"https:\/\/www.karongrilli.fi\/?p=2391"},"modified":"2025-11-19T06:32:51","modified_gmt":"2025-11-19T06:32:51","slug":"kuinka-sijoitat-bjorn-wahlroos","status":"publish","type":"post","link":"http:\/\/www.karongrilli.fi\/?p=2391","title":{"rendered":"Kuinka sijoitat, Bj\u00f6rn Wahlroos?"},"content":{"rendered":"\n<p><strong>Bj\u00f6rn Wahlroosin<\/strong> perheen sijoitussalkusta selv\u00e4sti alle puolet on p\u00f6rssilistattuja osakkeita. Private equityn, private debtin, venture capitalin ja hedgesijoitusten osuus on merkitt\u00e4v\u00e4.<\/p>\n\n\n\n<p>Se ei ole ollut viime vuosina voittava allokaatio.<\/p>\n\n\n\n<p>\u201dT\u00e4ss\u00e4h\u00e4n on monta ihmeellisyytt\u00e4. Hedgerahastot tuottavat suunnilleen nollaa. Venturessa listautumiset ovat olleet j\u00e4iss\u00e4 eik\u00e4 innostus ole ollut j\u00e4rin suurta\u201d, Wahlroos sanoo.<\/p>\n\n\n\n<p>Suomalaisista p\u00f6rssiyhti\u00f6ist\u00e4 Wahlroos omistaa isommin <em>UPM-Kymmene\u00e4<\/em> ja <em>Mandatumia<\/em>, joista j\u00e4lkimm\u00e4inen kantaa h\u00e4nen aikoinaan perustamansa investointipankin nime\u00e4. <em>Nordea<\/em>&#8211; ja <em>Sampo<\/em>-omistuksensa Wahlroos kertoo p\u00e4\u00e4osin myyneens\u00e4.<\/p>\n\n\n\n<p>&#8221;Jos edellinen vuosikymmen oli ennen kaikkea listaamattomien assettien suurta kulta-aikaa, niin kaikkiahan on yll\u00e4tt\u00e4nyt se tosiasia, ett\u00e4 maailmassa on [viime vuosina] ollut yksi yksinkertainen sijoitus ylitse l\u00e4hes kaiken, ja se on ollut S&amp;P 500 -indeksi.&#8221;<\/p>\n\n\n\n<p>S&amp;P 500:n menestyst\u00e4 ovat siivitt\u00e4neet ennen muuta muutamat teknologiayhti\u00f6t. Samalla niiden markkina-arvot ovat paisuneet melkoisiksi. Viisi suurinta p\u00f6rssiyhti\u00f6t\u00e4 muodostaa noin 30 prosenttia S&amp;P 500:sta. Paitsi niiden painot my\u00f6s niiden markkina-arvot ovat nousseet melkoisiksi.<\/p>\n\n\n\n<p>\u201dMe itse asiassa olimme sijoittajana <em>NVIDIAssa<\/em> ajan, joka antoi varsin hyv\u00e4n tuoton, mutta l\u00e4hdimme liian aikaisin pois, aika l\u00e4hell\u00e4 n\u00e4it\u00e4 nykyisi\u00e4 tasoja mutta selv\u00e4sti alempana. Argumentti [<em>NVIDIAsta<\/em> luopumiseen] oli se, ett\u00e4 kasvu, joka on sis\u00e4llytetty nykyiseen tuottoennusteeseen, tuntui niin k\u00e4sitt\u00e4m\u00e4tt\u00f6m\u00e4lt\u00e4 ottaen huomioon, ett\u00e4 niiden asema maailmassa on jo nyt niin keskeinen.&#8221;<\/p>\n\n\n\n<p>Jaksossa Wahlroos kertoo my\u00f6s n\u00e4kemyksens\u00e4 siit\u00e4, milt\u00e4 ikuisuussijoittajan allokaation pit\u00e4isi n\u00e4ytt\u00e4\u00e4. Ent\u00e4 j\u00e4ik\u00f6 harmittamaan, kun <strong>Warren Buffettin<\/strong> <em>Berkshire Hathaway<\/em> ei tehnytk\u00e4\u00e4n vastatarjousta Sammosta yhti\u00f6t\u00e4 Omahaan kaupanneille Wahlroosille ja <strong>Kari Stadighille<\/strong>?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bj\u00f6rn Wahlroosin perheen sijoitussalkusta selv\u00e4sti alle puolet on p\u00f6rssilistattuja osakkeita. Private equityn, private debtin, venture capitalin ja hedgesijoitusten osuus on merkitt\u00e4v\u00e4. Se ei ole ollut viime vuosina voittava allokaatio. \u201dT\u00e4ss\u00e4h\u00e4n on monta ihmeellisyytt\u00e4. Hedgerahastot tuottavat suunnilleen nollaa. Venturessa listautumiset ovat olleet j\u00e4iss\u00e4 eik\u00e4 innostus ole ollut j\u00e4rin suurta\u201d, Wahlroos sanoo. Suomalaisista p\u00f6rssiyhti\u00f6ist\u00e4 Wahlroos omistaa isommin [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[36],"tags":[184,183],"class_list":["post-2391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-grillit","tag-allokaatio","tag-bjorn-wahlroos"],"uagb_featured_image_src":{"full":["http:\/\/www.karongrilli.fi\/wp-content\/uploads\/2025\/11\/251119-Bjorn-Wahlroos-still.jpg",1920,1080,false],"thumbnail":["http:\/\/www.karongrilli.fi\/wp-content\/uploads\/2025\/11\/251119-Bjorn-Wahlroos-still-150x150.jpg",150,150,true],"medium":["http:\/\/www.karongrilli.fi\/wp-content\/uploads\/2025\/11\/251119-Bjorn-Wahlroos-still-300x169.jpg",300,169,true],"medium_large":["http:\/\/www.karongrilli.fi\/wp-content\/uploads\/2025\/11\/251119-Bjorn-Wahlroos-still-768x432.jpg",768,432,true],"large":["http:\/\/www.karongrilli.fi\/wp-content\/uploads\/2025\/11\/251119-Bjorn-Wahlroos-still-1024x576.jpg",1024,576,true],"1536x1536":["http:\/\/www.karongrilli.fi\/wp-content\/uploads\/2025\/11\/251119-Bjorn-Wahlroos-still-1536x864.jpg",1536,864,true],"2048x2048":["http:\/\/www.karongrilli.fi\/wp-content\/uploads\/2025\/11\/251119-Bjorn-Wahlroos-still.jpg",1920,1080,false],"mailpoet_newsletter_max":["http:\/\/www.karongrilli.fi\/wp-content\/uploads\/2025\/11\/251119-Bjorn-Wahlroos-still-1320x743.jpg",1320,743,true]},"uagb_author_info":{"display_name":"Karo H\u00e4m\u00e4l\u00e4inen","author_link":"http:\/\/www.karongrilli.fi\/?author=2"},"uagb_comment_info":0,"uagb_excerpt":"Bj\u00f6rn Wahlroosin perheen sijoitussalkusta selv\u00e4sti alle puolet on p\u00f6rssilistattuja osakkeita. Private equityn, private debtin, venture capitalin ja hedgesijoitusten osuus on merkitt\u00e4v\u00e4. Se ei ole ollut viime vuosina voittava allokaatio. \u201dT\u00e4ss\u00e4h\u00e4n on monta ihmeellisyytt\u00e4. Hedgerahastot tuottavat suunnilleen nollaa. Venturessa listautumiset ovat olleet j\u00e4iss\u00e4 eik\u00e4 innostus ole ollut j\u00e4rin suurta\u201d, Wahlroos sanoo. Suomalaisista p\u00f6rssiyhti\u00f6ist\u00e4 Wahlroos omistaa isommin&hellip;","_links":{"self":[{"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=\/wp\/v2\/posts\/2391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2391"}],"version-history":[{"count":1,"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=\/wp\/v2\/posts\/2391\/revisions"}],"predecessor-version":[{"id":2393,"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=\/wp\/v2\/posts\/2391\/revisions\/2393"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=\/wp\/v2\/media\/2392"}],"wp:attachment":[{"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2391"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.karongrilli.fi\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}