저자: Paul · 외국인
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결론: 워런 버핏 방식의 가치투자 원칙을 설명하며, 특정 종목의 단기 가격 예측은 하지 않는 교육성 영상이다. 버핏 인용 비판: 유튜브에서 버핏 발언을 인용하면서 실제 행동은 정반대로 하는 사람들을 비판하고, 본인은 버크셔 주식을 보유했지만 연례총회는 가지 않는다고 말한다. 버핏 포트폴리오 해설: 애플 비중(약 47%), 베라이즌 등 보유 종목을 언급하며 왜 보유하는지 자신도 모르는 부분이 있다고 인정한다. 해자(moat) 개념을 설명하면서 가격을 지불하는 것이 해자보다 중요하다고 말한다. 해자 사례: 애플 기기 생태계(개발자들이 맥북 사용), 뱅크오브아메리카, 아메리칸익스프레스, 코카콜라(레시피로 대체 불가), 크래프트하인즈(케첩), 무디스(신용평가), 베라이즌(통신 1위) 등을 예로 든다. 투자 철학: 이해할 수 없는 사업은 투자하지 않고, 5~20년 뒤 사업 방향을 합리적으로 볼 수 있어야 한다고 강조한다. 남들이 잘못 가격을 매기는 지점, 인식(perception)과 현실(reality)의 괴리를 찾는 것이 핵심이라고 말한다. 탐욕과 공포: 버핏의 '남들이 탐욕스러울 때 두려워하라' 문구를 해석하며, 15% 수익에 불만인 상태는 탐욕이고 진짜 공포는 투자자들이 주식을 완전히 외면하는 상태라고 설명한다. 마무리: 저평가된 우량주를 찾아 싸게 사고 비싸게 파는 과정을 강조하며 시청을 권한다. 특정 자산의 향후 1~3개월 방향에 대한 발언은 없다.
다듬은 글
let's get into warren buffett's portfolio and paul's thoughts on go ahead paul so guys other youtube channels will sit there and pull up this nice cute portfolio of warren buffett yeah and they'll repeat warren buffett statements till they're blue in the face sounds good sounds awesome i was once in a panel of a real estate conference and one of the panelists there kept saying quoting warren buffett and i was livid because literally he said go where no one else goes we invest in real estate where no one else is his top three holdings miami new york city atlanta georgia there's people there not only people there if i told you to pick the three hottest real estate mark the 10 hottest real estate markets all three of those are in the 10 hot real estate markets i do see these tubes people quote warren buffett and then act in in a exact opposite manner this is why even though i've owned berkshire hathaway stock and had tickets to berkshire hathaway's annual event i never go because i don't want to be around people who are faking it they're going to sit here and go oh look at apple it's 47 of the portfolio it's so great it's wonderful he sees a moat okay but what's that moat he talks about mode all the time people talk about moat everywhere oh i have a moat what's your moat i'm not going to sit here and bs you about this guys i have no idea why he owns verizon does that mean he's wrong no does that mean we should turn up the channel no what it means is i have found a process that works for me that will do very well for me and that process speaks well for you i invite you to watch more videos this process is an extension of warren buffett's process correct but like all value investors we all look at things differently but fundamentally we have the same beliefs so perhaps the viewers should be asking yourself what did warren buffett see in these companies when he bought them paul so warren buffett looks for a few things he looks for a moat what does a moat mean now i actually don't believe that the moat is as big a deal as the price you pay but remember i don't have warren buffett's money warren buffett has so much money that for him to invest in companies the long run he needs to see some sort of competitive advantage that keeps them separate from everybody else if you look at all these companies hey does anybody know who apple is how many of you people are not using an apple device even people who have androids use apple devices yeah all the developers i know who hate apple phones all have macbook pros right they all use macs to develop that's a moat that's a moat bank of america oh my lordy bank of america incredible i i do banking with bank of america they don't have branches in my city they don't even have branches here and i still use bank of america me too right american express guys merry express is like the creme de la creme of all credit cards moe makes fun of me for not having american express i used to but i don't have one anymore american express boom coke guys there's only one person in the world there's nobody in this role who drinks more diet cokes yeah nobody in this world drinks more cokes and warren buffett says that the amount of coca-cola that's poured on a daily basis and the money they get off it is just it's astounding and as he says nobody's replacing coca-cola i don't care if you even have coke secret recipe you ain't beaten coca-cola they could give you a factory and say here's a factory and here's our recipe you ain't beating them you're not gonna do it craft heinz guys every effing day how many craft times products do you use paul you put ketchup on your steaks by the way he isn't kidding i put ketchup my steaks and my chicken and people are like are you a 12 year old yes i am now pass the ketchup that's what i do i love ketchup ketchup's the best and i only drink i don't drink i only eat yellow mustard i don't do any of the other hippie mustards it's only yellow for me moody's guys this one is a um moody's does ratings for bonds and other things like that and he has a very intricate knowledge in that whole business i don't know i couldn't begin to understand it verizon guys first off the reason i don't like verizon is because of debt but he obviously sees some sort of high return on invested capital and big gross margins that allows the debt to be manageable right me i draw the line of debt on that level it was like some i was like okay it's not work for me but verizon would we now not agree that verizon is the number one provider of telephone services in this country come on it is but one thing these all have in common guys is they sold for less than he thought they were worth now if you agree with him or not it's a totally different story and warren buffett's gonna miss a lot of investments he always said he wishes he invested more in in microsoft and in in apple and all the other companies but he's okay with errors of omission which means he's okay if he misses a company that skyrockets but he's not okay if these ones collapse that's what he's not okay with and they rarely do does he make bad investments absolutely but across an entire portfolio of companies he will do very very well and that's the warren buffett way i've watched speeches of him where he just keeps his eyes on companies for so long and he just waits which waits for the right time to strike and buy whether he's buying out a whole company whether he's buying hpq and not only that you know what else he does that i love people i i can't stand this when people make me pitches and they have these third excel sheets with 30 sheets on them he's like listen if you can't understand a piece of paper or a napkin then you're then it's not under you can't understand it a business you mean he's very big on understanding businesses in a very simple way the simpler the better if i don't understand the business i don't buy it done if i can't see where it's going to be if i can't reasonably see where it's going to be in five 10 20 years i'm out and he's okay with that and in all these companies he feels or somebody in the staff feels they can see where these companies are going to be in five 10 20 years and that's his goal how do you implement warren buffett's thought processes when you're buying businesses real estate stocks for our viewers out there how have you been doing it for 20 years it's all about understanding something that somebody else doesn't what are they overlooking what are they mispricing the mispricing could be they think something has a worse future than you think it does they could not be especially in stocks people look at financial statements this company is dying we're dying why is their revenue and profit going up every single year it's not well yeah it is because they reported every single year that's the warren buffett way it's tripping apart what perception is versus reality and you want to focus on reality you want to use perception other people's perception to find the mispricings of reality that's what he thinks he found in all of these and this is this is portfolio so don't go buy into the youtube bs when somebody keeps sitting there saying i want to be fearful when others are greedy and greedy another fearful that's the dumbest thing because they think that last month was fearful that isn't even close to fearful fearful to me is you've got billy next door saying i ain't touching any of this stuff anymore you've got people sitting there saying stocks are the worst investment ever that's fear not oh i'm a little scared of snowflake now even though warm above it own snowflake that's fear that's where you need to be greedy when others are fearful and when it happens now or people sit there and say yeah you just buy stocks that go up a ton when people are upset over 15 returns and not saying because they didn't get 30 that's greed that's when you should be fearful that's the investing way that's the warren buffett way so we're providing you an outlet if you've been out there investing just watching and getting interested in companies on youtube or hearing them in the news you might be shocked to learn that some of the most famous value investors that have done it the best over the past century they don't quite do it like that they want to find these undervalued companies paul that warren buffett falls in love with and so we want to be an outlet for you to help you find some of these underliers we want to find the disconnect between a really great company and a really low stock price so we can buy low and sell high one day not the opposite wouldn't you agree paul absolutely and this is it takes patience but it takes a process and that's what we're here to teach guys keep watching our videos
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