저자: 미상 · 외국인
요약 보기
워런 버핏의 투자 원칙 3가지를 소개하는 교육형 영상이다. 결론: 감정에 휘둘리지 말고 남들이 공포에 빠졌을 때 욕심을 내라는 것이 핵심 메시지다. 첫째 원칙(감정 통제): 많은 사람들이 돈 문제에서 감정에 끌려 투자 전략을 버리고 충동적으로 행동한다. 버핏은 '남들이 두려워할 때 탐욕스러워라'고 조언한다. 과열기에 사고 침체기에 파는 일반적 행태는 반대로 해야 한다는 주장이다. 둘째 원칙(신중한 선택): 테드 윌리엄스의 '스트라이크 존' 비유를 든다. 야구와 달리 투자는 기회를 기다릴 수 있다. 평생 20번만 투자할 수 있는 펀치카드를 가진 것처럼 생각하라는 버핏의 조언을 소개한다. 셋째 원칙(리스크 관리): 수익 가능성과 손실 위험을 함께 따져야 한다. 벤저민 그레이엄의 안전마진 개념을 설명한다. 예시로 주가 80유로, 내재가치 120유로일 때 50% 안전마진을 적용하면 60유로가 되어 저평가가 아니라는 식으로 계산한다. 또한 자신의 역량 범위(competence circle)를 알고 그 안에서만 투자하라고 강조한다. 영상은 원칙들이 소액 투자자에게도 적용 가능하다고 말하며, 더 깊은 학습을 위한 도서를 소개한다. 개별 종목·자산에 대한 가격 전망은 없다.
다듬은 글
With a fortune of around 83 billion US dollars, Warren Buffett is currently considered the third richest person in the world. He is a role model for many when it comes to investing and growing capital. Over the years, Buffett has established certain rules that help him invest his money successfully, and we have summarized the three most important ones for you in this video.
By the way, these rules are principles of investing, meaning you do n't need millions to apply them. But I'll tell you more about that at the end of the video. And now, the top three principles of investing from Warren Buffett : Many people let their emotions guide them when it comes to money. They throw their investment strategy overboard and act rashly.
In emergency situations, their emotions take over. They can no longer think clearly and make dramatic mistakes. Buffett has the following tip: Be greedy when others are fearful. What does he mean by that? Imagine Before you go to the supermarket and it's an obviously overpriced product, in that case you'd probably leave it alone.
But as soon as there's a sale, yes, then you'd buy it. That's how it should normally be. The irony is that people in the capital markets think exactly the opposite. In a boom, when stocks are massively overvalued and the euphoria is at its peak, they buy. However, during a recession, when stocks are undervalued, they leave them alone.
It seems like so much fear of losses, even though during a downturn the probability of finding good investments is highest. Warren Buffett uses Ted Williams' book "The Softening" as a template to illustrate this principle. Ted Williams is a former professional baseball player, and in his book he explains, using a diagram, that the right opportunity for him is to take a swing with his bat.
He only takes a swing when the ball lands in the hitting zone. The only difference between baseball and investment is that in baseball. The player has to make a move within three strokes, and we can invest. You can take your time until you find the right opportunity for yourself, and that's the advantage.
You don't have to invest in the first three companies. Here are some recommendations from Buffett: Imagine you have a punch card where you only have space for 20 investments spread throughout your entire life. In this case, you think much more carefully before each investment and don't act too hastily.
With every investment, you should weigh your chances of profit against the risks of loss. This means you should ask yourself: Is there a possibility of long-term success with this investment, or is the competition in this industry so strong that the probability of loss is too high? One of the tools for reducing risk is the so-called margin of safety, developed by Benjamin Graham.
He was a mentor of Warren Buffett. The margin of safety is the discount, expressed as a percentage of the intrinsic value of the investment, to reduce the risk. And now a short example... The security situation in a given year: If you have a share price of 80 euros, and after calculations, reading key figures, the annual report, and so on, arrive at an intrinsic value of 120, you probably think this share is undervalued.
However, if we subtract a 0.50% margin of safety, we arrive at a value of 60 euros. Now you see that the share is not undervalued. Then you might think, " What's the point of subtracting the security situation?" Well, the point is to eliminate your errors in assessing the intrinsic value. If the intrinsic value is perhaps 70 or 75, with a 60 euro entry, you still have the possibility of a 10 to 15 euro profit.
Another way to minimize risk is to know your competence circle. In other words, you should be clear about which companies you are capable of evaluating and which you are not. You must not exceed the limits of your competence. Know your strengths and weaknesses. For example, wouldn't it be wise to invest in...
Investing in the construction industry after years of working in the pharmaceutical industry, as mentioned at the beginning of the video, is just a general overview of the principles of investing. Of course, the topic is much more extensive and complex in detail, but if you want to delve deeper, we have book recommendations for you in the description.
I personally have read all of them and can highly recommend them. If you have any further questions, write them in the comments or message us on Instagram. And don't forget, the most important investment is the investment in yourself. With that in mind, I'll say nothing more until next time.
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