저자: 미상 · 외국인
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워런 버핏의 투자 방식을 소개하는 교육 영상으로, 특정 종목이나 자산의 단기 가격 예측은 없다. 핵심 주장 1: 투자는 자신의 역량 범위(circle of competence) 안의 사업에만 해야 한다. 잘 모르는 산업은 도박에 가깝다. 핵심 주장 2: 주가가 아닌 사업 자체를 보라. 일간 등락에 흔들리지 말고 사업 성장, 직원 성과, 월간·연간 이익 등 펀더멘털에 집중한다. 핵심 주장 3: 주가수익비율(PER)이 시장 평균(S&P500 약 17배)보다 낮은 기업을 선호한다. 예시로 주가 100달러, 주당순이익 10달러면 PER 10배. 핵심 주장 4: 재무상태표가 튼튼해야 한다. 자산 대 부채 비율 최소 2:1을 기준으로 보며, 현금 보유가 장기부채 대비 충분해야 한다. 현금이 적고 부채가 많으면 이익 악화 시 파산 우려로 주가가 크게 흔들릴 수 있다. 핵심 주장 5: 신뢰할 수 있는 경영진을 중시한다. 다만 나쁜 CEO가 와도 버틸 만큼 사업이 강해야 한다는 철학을 강조한다. 조건·리스크: 버핏이 대형주 위주로 투자하게 된 것은 자금 규모가 커져 소형주는 영향이 미미하기 때문이라고 설명한다. 과거 연 20% 수익률 같은 수치를 언급하나 특정 미래 수익 전망은 없다. 출연자 전망: 버핏의 방식을 기본 틀로 삼고 있으나 기업 평가 방식 등 일부는 다를 수 있다고 밝힌다. 다른 투자자의 견해도 공부하라고 권한다. 종목·자산 방향 예측: 대상 자산에 대한 1~3개월 가격 방향 발언은 없음.
다듬은 글
Good afternoon customers. Thank You. Damn it. Have you ever wondered what Warren Buffett does to make his billions of dollars? How did he become the richest man in the world? Well, today I'm going to show you the kind of strategies he uses, the way he thinks, and the ratios he pays attention to in order to make successful investments.
I can't wait to share this with you guys today. This is probably my favorite video I've ever made because it discusses one of my business idols, Warren Buffett, and how he thinks about investing and the things he decides to invest in. I studied it early on when I first started investing, and its fundamentals and core structure still form the basis of my investing today.
Of course, he and I may disagree on some things. The way he views companies may not be exactly the same as the way I do, and we may differ on the types of companies we should invest in. Things like that. But in the end, the main foundation is still what I use today, six or seven years later, who knows how long, and I'll probably use the same strategy forever.
So, let's get started and discuss the five main things he looks for in an investment. The first two points are more about mindset than looking at ratios or anything like that. These first two steps are really about your mindset. The circle of competence is the first. Second, think about business and not just stocks.
So, first, the circle of competence. I've already discussed this a bit in my video titled the key to investing. This means staying within your circle of competence, meaning investing in businesses that you truly understand. You can understand it and it's not an industry that's confusing to you, or that you don't understand so you're just gambling, just thinking, "Oh, maybe it'll be the next big thing." You are just gambling in it.
You must stay within your circle of competence . Choose an industry that you truly master. So, maybe you know a lot about technology, you can see which companies will make innovative products and make a lot of money from them. So invest in the technology sector. And maybe you don't really understand retail because you've never worked in retail.
You don't actually know much about retail. You don't know if Walmart will be a great company in the future. You don't know if Amazon will take all the market share from retailers. You don't have a strong opinion about it. So stay away from the retail sector and vice versa. So stay in an industry that you feel comfortable in and where you can really see the future and know whether an investment will be successful.
Second point, think about the business and not the stock price. And what that means is that if you buy a stock, you can see the price of that stock every minute, every second, every day, and you can think, okay, my business is worth this much or that much. If you buy a farm or a McDonald's franchise or something, you don't get to see how much it's worth every day.
You don't know if you're selling it to someone else and you don't think about it within those boundaries. You think about the business and how it is growing, how the employees are performing, how much profit is coming in each month and each year, and things like that. So, think about it when you're investing, if you want to invest in Apple, think of Apple as a business, not as a stock price.
So, don't worry about what happens on a daily basis with stock prices and such. Just focus on the business, focus on the fundamentals, focus on the products the company makes, things like that. And that goes for all companies. And don't be influenced by what the stock price does from day to day, whether it's up 5% or down 5%.
Don't be influenced by it. The only thing you want to influence regarding the stock price is if the price drops drastically after you invest, then you want to keep buying more shares. as long as the company's fundamentals are strong and you believe in its future. And if the stock rises sharply in a short period of time and in your opinion is no longer undervalued, then you may want to sell some or even all of the shares .
So that's the only thing you want to pay attention to when it comes to stock prices in the short term. Point number three, now we start talking about ratios and things like that. low PE ratio . For those of you who are new to looking at investments and such, the PE ratio stands for price to, um, price to earnings.
Sorry, I almost forgot what PE ratio is. Price to earnings. So that means stock price compared to earnings. So let's say the stock price is $100 per share and the profit they make is $10 per year. So $ 10, not $10 total, but $10 per share. So you divide the $100 share price by the $10 earnings per share and you get a PE ratio of 10.
Warren Buffett loves investing in companies that have PE ratios below the market trading price. So below the trading price of the S&P 500. So if the S&P 500 is trading at an average PE ratio of around 17, he might like to invest in companies that are trading at 15, 13, 12, or something like that. because it generally means the company is undervalued compared to the rest of the market.
So that's what he's looking at regarding the PE ratio. Number four, I hope you guys can see this down here. Number four, a strong balance sheet . Strong financial balance . Very important. And what he looks at is basically short-term assets, short-term liabilities, as well as long-term assets and long-term liabilities.
And he really looks for a ratio of at least 2: 1 in most of the investments he makes. So that means if the company has assets worth $80 billion, he wants the company to have liabilities of 40 billion or less. So, at least $2 in assets per $1 liability. So, keep that in mind. And that's something that really is a benchmark of a strong balance sheet.
Additionally, look at cash and cash available on hand compared to the company's long-term debt. That's very important. You don't want a company, and he generally doesn't want a company, that has a lot of debt on its balance sheet and very little cash. Because when that company, if that company is having problems on the profit side, and they don't have a lot of cash on hand and they have a lot of debt to pay, you're really going to face a couple of scenarios there.
You could face the company's stock price taking a huge hit as many people will start questioning bankruptcy and things like that. So that's why you always want to have a strong balance sheet and he always looks for a strong balance sheet generally in most companies. Number five, the final point, trusted management.
So he wanted a management team that he could trust, that he could feel through his normal human instincts, that he could make decisions by listening to them talk and things like that, and he trusted them to make the right decisions for the company. Well, one final point I'd like to make regarding management.
He also believes in the philosophy of investing in companies that even a fool can run, because someday a fool will run them. So, he wants trustworthy management, but at the same time, he wants a business that is strong enough that if a bad CEO ever takes over, the company will still be strong. It's similar to the United States.
You know, sometimes we have idiots running the country, but somehow we still come out on top. Truly extraordinary. So, that's how to invest like Buffett. Those are the five main points. And there are other things we could discuss and we could talk for days about various philosophies and so on. And over time, there's something to understand about Warren Buffett, over time, he has changed his investment approach a little bit because his funds are now so large.
He has so much money under management. There are billions coming in, so he can just focus on the biggest companies in the world . So sometimes people wonder, wow, Warren Buffett, he's not getting the percentages he used to. He used to get 20% a year for decades and now he just gets, well, blah blah blah.
Yes, of course, because he can only choose from some of the largest companies in the world and has to decide which one might be the best among them. And the reason is because he has so much money. If he invests in a company with a market capitalization of one billion dollars or even ten billion dollars, it doesn't make a difference to him because the amount is too small, it won't even be noticeable.
So, he should choose these big companies to invest in because they have abundant free cash flow every month. So, I hope this explains the simplest process of how Warren Buffett makes his investments and maybe you guys should learn it. Besides that , learn from other people too. Study, you know, the short sellers and some other famous people .
You shouldn't just listen to what Buffett says , even though you know, he's the guy I rely on. But anyway, thanks for watching, guys. Dear customers, thank you as always. If you haven't subscribed yet, you might want to discuss more about personal finance, investing, and other interesting things. And have a nice day. Good afternoon, dear customers. Thank You. Wow.
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