저자: BillAckman · 외국인
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빌 애크먼은 투자자가 피해야 할 실수를 정리한다. 실패와 역경을 어떻게 다루는지가 성공을 좌우하며, 투자 지식은 책으로도 얻지만 기업을 이해하려면 스타트업 등에서 직접 일해보는 것이 가장 실용적이라고 강조한다. 초보 투자자는 불확실한 신생 기업을 피하고, 상장되어 거래가 활발한 기업과 공개 증권에 투자하는 것이 좋다고 조언한다. 이유는 상장 기업은 더 많은 검증을 거치고 주식은 원할 때 매도할 수 있는 유동성이 있기 때문이다. 연 10~15% 수익률을 장기간 꾸준히 얻으면 자산이 크게 불어난다고 본다. 확신과 자만은 다르며, 남들과 다르게 생각하고 확신을 가질 때 좋은 투자가 가능하다고 말한다. 다만 그 과정에서 비판과 조롱을 견딜 두꺼운 피부가 필요하다고 밝힌다. 과거 금융위기 때 파산 직전 소매업체 지분을 사들여 큰 수익을 낸 사례를 언급한다. 투자 전에는 반드시 철저히 조사(due diligence)해야 한다는 원칙을 강조하며, 본인이 하버드 경영대학원 재학 중 자체 학습으로 투자를 익힌 경험을 소개한다. 아버지의 조언대로 유명 투자자 밑에서 배우지 않고 독자적 방식을 택했던 점도 덧붙인다. 개인적으로 사회에 기여하는 방식을 고민하며, 공적 영역보다 민간 참여자로서 더 큰 영향력을 가질 수 있다고 본다. 이 영상은 특정 자산에 대한 가격 전망이나 매매 권유를 담고 있지 않다.
다듬은 글
today we are learning from bill ackman who is the ceo and founder of pershing square bill ackman caused a steer with his large short position in the corporate deb market last year when he was able to turn 20 million into 2.5 billion and only a few short weeks ackman has been investing for nearly 20 years and has experienced many ups and downs throughout his career something novus investors may not be aware of he has taught us from his experience i hope you guys enjoy it bill ackman 7 mistakes every investor makes overcoming adversity if you look at the most successful people in the world there are probably very few of them i know very few of them who haven't suffered a significant setback if you browse through the forbes billionaire list and read their biographies you'll discover that they aren't the richest people in the world they've lost everything due to failed businesses and they've clung to the brink so tightly that they almost perished you're aware of his name the k the red stone-related character on cbs's summer fire there are many instances of people who faced extreme hardship i believe that your ultimate success is more likely to be determined by how you handle hardship then by how you handle victory learning from mistakes you can learn about the investing industry by reading for example all of warren buffett's published works or watching each and every one of his youtube appearances however investment is more than just a means of understanding to understand an enterprise is to invest just simply knowing the difference between a great business a good business a fair business and a bad business is one of the most crucial abilities you need as an investor this is the best time in history to work for a startup because so many entirely interesting firms are being founded and the only way to understand the quality of a business is to work for one as a result the advice i give to those graduating from business schools today is to do just that you'll learn a lot about how the business operates how to make payroll how to sell your product and how to develop something if you can be one of the first employees and i believe those abilities are priceless first of all even if the business fails you learn a ton from it since you might have joined the next facebook which is incredibly exciting i believe that is the most practical experience you can have to become a solid fundamental investor learn to invest right how can an investor be successful i'm presuming right now that you won't pursue a career in investment instead i'm thinking that you'll become a doctor or a lawyer and follow your passion however you will eventually have some money that they will save i'm going to offer you some advice on the subject i won't necessarily be conclusive but it's one of the pieces of advice my sister's grandma would receive from me if she were in your shoes i would stay away from making investments in new companies whose prospects are unclear again you don't need to earn 100 of your income each year to be wealthy all you need to do is to invest at an appealing return of 10 to 15 over an extended period of time and your money will increase dramatically how can you steer clear of the riskiest investments then my recommendation is to invest in listed firms and public securities organizations that have stock market trading why because those companies are more frequently found because going public they must clear a number of obstacles the stocks are liquid so you can sell them if you change your mind be confident the best investments are those where we are convinced that we are correct and that everyone else is mistaken you've recently among other things been accused of being arrogant so you have to you know no no pompous i don't think i'm pompous but i've certainly been accused of being arrogant and there's a difference between arrogance and confidence i'm going to genuinely ask you that it was termed it was pompous but that's okay yes you will perish if you conceded an investor okay if you're not sure you'll ever invest that's fine therefore you must put in enough effort to gain the self-assurance necessary to act with conviction in an contrarian manner we acquired the equity of a retailer that would soon file for bankruptcy a shopping center company during the financial crisis i'm sorry you have to be willing to look a foolish when you do something like that when shares are only cents generally rising stocks have returned 90 times our initial investment you know back when we were confident in our ability to turn things around perhaps some people thought it was conceited of us to think so contribute more if you invested how would you act that is a good question i mean even if i weren't paid for what i do i would continue to do it because i believe it will allow me to contribute the most that i possibly can i imagine myself influencing government in the same manner that i impact the private sector but i believe that i have more power as a private participant than a public participant deal with criticism seven years ago i met bob chapman a money manager at a panel discussion we shared a panel at an event but i haven't spoken to him or exchanged emails with him since and i've never seen him however he has been making the rounds on talk shows for the past 90 days claiming that i am either incorrect foolish or arrogant given quotations to vanity fair you know it's regrettable i don't mind criticism but i don't appreciate reading things that are challenging for someone who is unfamiliar with me to understand especially when they are making personal observations about me but as you well know in order to work in this industry you must have a thick skin additionally you should anticipate having both supporters and detractors if you find yourself in a very public circumstance i just try to concentrate on doing my work and our goal is to make money for our investors i live my life too always do your due diligence i attended business school to develop my skills as an investor i also discovered the first investment rule which is to conduct your research before writing any money and when i initially opened the course catalog at hbs i discovered that there wasn't a class on investment now that there were accounting now that there were accounting and finance programs i made a decision that i would have to create my own small self-study course and i wanted to open a brokerage account with fidelity i stated that this was my tuition for the investing business and that i had some money for my real estate brokerage business and the cost of tuition was approximately a year i reasoned that it wasn't the opposite of the oxford oneplus program because if i lost it was the same as paying for three years of business school but only attending for two however my initial stock purchase instead so i approved i've discovered what i want to do however inquire after my father who came with us as is standing there in the corner any questions you have after that are yours to ask he advised me that starting an investment fund right out of business school is a particularly bad idea and he advised me to go to work for michael steinhardt george soros and another well-known investor at that time but i believed i already knew enough the answer is that i was an entrepreneur and believed that i wanted to tackle investment my own way rather than learn from someone else this is a hazard to youth additionally it's one of the rare things you can truly learn on your own in contrast to many other businesses that require much more learning how to invest may be done by reading books yearly reports building a portfolio and investing 100 from our discussion what have you learned please let me know by leaving a comment below and if you enjoyed this video please press the like button turn on the notification bell and subscribe to wealthology for more videos like this thank you for stopping by to watch see you 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