Recently I see a lot of people who think that since you are a value investing type, you don’t need to invest full time at all, they think value investing is simply buying, and then it seems like you don’t need to do anything else. It sounds really good, but in fact, is investing really that simple? If value investing is so simple, Buffett doesn’t need to read corporate annual reports and industry-related knowledge all year round.
Here I will tell you an old story. When Bian Que met Wei Wenhou, Wei Wenhou asked Bian Que, who of your three brothers has the best medical skills, and Bian Que said, my elder brother’s medical skills are the highest, because usually people can see diseases in advance from their demeanor. will happen, so the disease is cured before it happens.
I’ve always really liked this story, and this story illustrates. Real investment masters must have extraordinary cognitive ability to the industry, not like many big Vs, they belong to hindsight. Take the real estate industry as an example. I remember that a few years ago, there were a lot of people who were very optimistic about the real estate industry. Today, there are actually big problems in the real estate industry. If you are a hindsight investor, you The investment losses will be very large. But you can, like Big Brother Bian Que, anticipate this kind of change in the industry early, and you will make some arrangements in advance. Of course, this requires strong business insight. Investors who can cross this level are really rare. Poor, I have been emphasizing that this is where value investing is really difficult.
Have you seen that a real investment master also needs to have this ability. Why Buffett needs to read various data every day is because through a lot of reading, the stock god can maintain a keen investment insight. As a result, when the market appears in his circle of competence, Buffett can seize this big opportunity for the first time. I think Coca-Cola in 1988 was the perfect interpretation of this. On the contrary, you don’t spend too much time every day on such industry changes, business exploration, or even long-term fundamental tracking of individual stocks. I dare say that even if there is a big opportunity in front of you, you can’t grasp it, why, because you don’t know it is an opportunity at all. I personally don’t like this sentence very much. Investing is very simple. After buying, let the company make money for us, and I am only responsible for enjoying life. I think under this premise, you have to think about whether you are worthy of it, which requires you to spend time and study, otherwise it is very likely that after the purchase, the company will lose money to you, and you will be responsible for the painful life.
Therefore, a lot of reading in addition to holding shares must be experienced by every real investment master, because in the process, they accumulate a lot of business knowledge in their minds, allowing them to see investment opportunities that ordinary people cannot see. This acuity is something that requires constant repetition, because even geniuses can become the biggest idiots if they don’t keep learning. $Vanke A(SZ000002)$ $Gree Electric Appliances(SZ000651)$ $Sunac China(01918)$ @Today’s topic @snowball talent show
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