저자: Investor Center · 외국인
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now when somebody reports earnings it's telecast all over the world they have an investor presentation they show a balance sheet so information is much better so theoretically the individuals edge has improved in the last 23 years versus the professional in the stock market the most important organ is the stomach it's not the brain there's always on the way to work the amount of bad news you can hear is almost infinite now so the question is can you take that i mean do you really have faith that 10 years 20 years 30 years from now common stocks a place to be if you believe in that you should have some money in equity funds i mean it's a question what's your taunts for paying i mean the stock market's a very good place to be but i can toss a coin now it's gonna be lower two years from now higher i don't know more people lost money waiting for corrections and anticipating corrections than the actual corrections well you ought to look in the mirror every day and say what am i going to do if the mark goes down ten percent let me do if it goes down 20.
am i going to sell am i going to get out if that's your answer you should be reducing it today well i had this perfect record i think the 13 years i ran magellan the market went down nine times 10 or more i had a perfect record i went down more than the market every time i went down i went down more so i i just didn't worry about it the point is you would you say to yourself do i need this money in a year do i need this money in two years do i need this money in three years so my longer term stock market's been the best place to be last 10 years last 30 years last 130 years but if you need the money in one or two years you shouldn't be buying stocks you should be in a money market fund well i think emerging markets that's not my expertise but i mean these markets have been really hammered you know and they're a lot of countries are doing a lot better you know i mean so i think there's potential there that's not my expertise but i think emerging markets could be a place to research i i never looked at the economy i want to find out the only thing i look at what's happening right now you know what's going to happen a year from now what's going to happen interest rates i'd love to get next year's wall street journal i pay an extra dollar for it that'd be very helpful i don't know what's going on in the future but i want to find right now well i think anybody that's investing in the stock market that's not saying you buy a company these are not lottery tickets he's behind every stock there's a company if the company does well over time the stocks do well and vice versa you have to look at the company that's what you're researching that's what you do at valley that's what i do you could be an interventional cardiologist and you're putting in abu med's impella you say wow this really is an incredible breakthrough preventing shock preventing you know hemodynamic support it's amazing it's it's it's a breakthrough it's great it works but you you're actually using it i mean or you're you're assisting you're in the operating room seeing this breakthrough that's you know you start way ahead of most people that's an edge you need an edge on something well the data now is so good i remember when nike we own nike we had to wait for the mail to come to our library now when somebody reports earnings it's telecast all over the world they have an investor presentation they show a balance sheet so information is much better so theoretically the individual's edge has improved in the last 20 30 years versus the professional the data is there it's free but i think a lot of people that promise they have so many prejudices so many biases they won't look at a railroad they won't look at an oil company they won't look at a steel company you know they they're only going to look at companies growing 40 a year they won't look at turnaround so one thing you just don't have so many pressures and biases i bought companies with unions you have to really be agnostic
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