저자: WarrenBuffett · 외국인
요약 보기
버핏이 벤저민 그레이엄과의 인연과 인품을 회고하며, 『현명한 투자자』 8장의 핵심인 '미스터 마켓' 개념을 소개한다. 시장의 감정적 변동을 투자 기회로 활용하고, 내재가치에 집중하며 장기적 규율을 유지하라는 메시지다. 영상에는 특정 자산의 가격 방향에 대한 예측 발언이 없다.
다듬은 글
it's really a pleasure for me to be able to uh talk to you about Ben Graham and uh I've had some lucky days in my life but uh one of the luckiest was in 1949 when I was 19 years old in Lincoln Nebraska and I picked up a copy of the intelligent investor it not only uh changed my investment philosophy it it really changed my whole life I i' I'd be a different person at a different place if if I hadn't have uh uh first seen that book uh uh I got a Bedrock of uh uh investment philosophy that really hasn't changed ever since I read the book I may embellish on it a little here and there but it was Ben's ideas that sent me down the right right path and uh then a year or so later uh I very belatedly applied to Columbia University and Dave do let me in and uh I got to know Ben personally uh when he was my professor uh in the second semester there and when I finished up of course I I said I'd go to work for him for nothing and he said I was overpriced and he probably was right but a few years later I got a letter from him and he uh he said next time you're in New York I'd like to I'd like to talk to you and I made a point of being there about 24 hours later and he offered me a job and I didn't ask the salary but fortunately when I the end of the first month I found out he had not taken me or maybe he' forgotten about the fact that I'd do it for nothing uh uh and I I got inspired working for him uh just being around him every day uh and then we developed this friendship which uh which lasted until he died about 25 years uh later so uh I I I really had a quarter of a century of experience with a a marvelous man and and you all know about about his mind and his ideas and uh uh the influence they've had on the the profession of security analysis uh uh the influence they probably had on you and your own portfolios and certainly um but the human side was just as as impressive he was a generous man um when my first son was born shortly after uh I went back to take the job in December of 1954 my son was born and I uh gave him the middle name of Graham I named him after my dad Howard and then after Ben Graham with the middle name of Graham and Ben came over to our apartment of White Plains and uh uh gave me a uh camera and uh a movie projector was a lot different doing that sort of thing in those days and uh so I could record what was happening with Howard Graham Buffett from virtually the moment he was born uh a little later he he I think my wife had said something to him about my lack of uh dancing ability or something which well Justified and uh Ben gave me a u a certificate for some free lessons at the Arthur Murray Dance Studio in White Plains that may have been the worst investment he ever made uh it was he he did not get his money's worth when he uh when he did that uh um he moved out to California 1956 and uh um my family uh visited him time after time and he was always encouraging the one thing about it is that you never could balance the books with Ben he was he would do things for me uh or for other members of the family and you never could think of anything to do for him so it's it's a it's a real pleasure for me in a small way to be able to attempt to balance the books by just telling uh you and the rest of the world what a wonderful human being he was and and that's what really counts I mean he couldn't help but be smart I mean he was born wired in a way where he was going to be able to accomplish things intellectually that very very few people uh could do uh and when you think about particularly in the light of today's Markus think what a remarkable achievement it was to be writing a book in 1934 security analysis probably was writing it in 1932 and 3 and here was a man that had been devastated by the depression and the stock market crash uh you know many of you manage money he was managing money for people and they were disappointed with what had happened but he could see far enough out in the future that that he still uh turned out this marvelous book in a dispassionate very rational way uh and not overwhelmed by the uh the events of the previous couple years but he he wrote a book where 75 or so years later we're still reading it to learn new things every day so it was a marvelous intellectual achievement but but again that he couldn't help that he he was he was he was born with that brain he didn't have to be the wonderful human being he was I mean he could have behaved in an arrogant manner or or or had a had a tone of superiority because he he had to know he was smarter than 99.99% of the people around him but he wasn't that kind of a person at all he he he he treated all of us students came up to Columbia on a Thursday U for 20 or 25 years for just to help out a bunch of students that he might never see again that weren't going to do anything for him he was sharing knowledge that in effect was going to make them competitors I bought some of the same stocks that Graham Newman was buying his investment company later on I didn't buy him in very big quantities because they didn't have that kind of money but uh he was creating he was creating competitors he it didn't bother him he he used current examples uh uh we would say there in class and he would tell us about things that that uh we never would have found on our own but uh he was just a generous man he in in in every way and uh uh I was lucky to know him and I hope you've gotten to know him a little bit through these comments in this video we'll explore chapter eight of Benjamin Grahams the intelligent investor a chapter that Warren Buffett frequently emphasizes for its profound insights into handling Market fluctuations Graham introduces us to Mr Market an imaginary figure who represents the stock market's erratic and emotional Behavior he illustrates how Mr Market's mood swings can offer both opportunities and risks instead of being swayed by daily Market ups and downs Graham advises investors to focus on the underlying value of their Investments by treating Market fluctuations as chances to buy low or sell High rather than reacting with fear or greed investors can make more rational decisions this this chapter teaches the importance of maintaining a disciplined long-term approach and not letting short-term volatility dictate your strategy understanding and applying these principles can help you avoid costly mistakes and capitalize on Market opportunities dive into this video to learn how adopting Grahams mindset can enhance your investment approach and improve your financial outcomes
Comments 0