저자: 미상 · 외국인
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Druckenmiller 인터뷰를 정리한 영상으로, 트렌드 초기 진입(엔비디아, 비만약 사례), 먼저 매수 후 조사, 현재보다 18~24개월 후를 보고 투자, 감정 배제한 빠른 손절, 자산군 전환, 확신 있을 때 과감한 포지션 사이징 등 투자 전략을 설명함. 특정 종목의 향후 가격 방향 예측은 없음.
다듬은 글
Stanley John Miller just had an interview with Nikolai talking about the market, talking about how to become a better investor. So, I'm going to go through this interview because you have to become a better investor and it's always good to just learn new strategies on how to do this. So, I'm going to go through the strategies that I took in in this interview because John Miller was able to do 20% returns in the market and he learned from Soros and Soros no matter if you hate him or love him, he was doing 20% as well.
So, we're going to go through this interview. We're going to go through the strategies that you can learn to become a better investor. Let's get into this video. So, one of the strategies that Stanley uses is actually getting on trends before they become popular. So, in this interview, he talks about how he got actually into the AI before it actually became popular.
So, he actually bought Nvidia before Nvidia had this deal with Open AI and doing all these GPUs and giving out all that nice compute. He found that out because he had people going to colleges, going into programs that study AI. So getting into market trends actually can be a good thing. You don't want to invest in a business that is just declining because the market, the economy is not going that way anymore because you're going to see revenues and net income decline.
So he got on the AI wave and he played Nvidia before it even became popular. He also got into the weight loss drugs before it became popular. So he rode that wave as well. So if you can kind of get into these trends or these waves before it becomes very popular, that's a good searching ground to look for stocks or just get into these kind of trendy areas before they take off and boom.
Especially because drunken Miller is only looking at two to three years out instead of these long holding periods like Warren Buffett. He said he's not like Warren Buffett. He doesn't hold forever. So if you can think like Warren Buffett and get on a nice trend, that's like double dipping. So getting into like the AI wave plus thinking about holding longterm.
I think that's like a good way to play both areas if you want to do that. The second strategy that Stanley and George Soros use when they're at their peak and investing very hard in the market was called buy now, investigate later. Because a lot of the times when you're investing in the stock market, you can get these huge moves right away before you even get to analyze the stock.
Because as investors, you know, it takes time to analyze a stock. Forest called it invest and investigate. Cards can move fast before you get the two to three months to analyze it. Especially in today's market where info is fast and he doesn't want to miss big part of the move and it will paralyze you to buy if you see this huge runup.
You don't like the stock you can sell it if you made a mistake after you researched it. And we see this a lot in stock market like Nvidia can make these huge 50 60% runs so quickly. A lot of these stocks that we want to wait to own and research and like kind of do our due diligence which is really good man these stocks can move really fast especially in today's market with algorithms with a lot of option plays and a lot of option buyers.
So sometimes you can just put a little position in a stock just kind of investigate and research before you do a huge deep dive because it's going to be easier to buy after you actually put some money in. Because if you see a 40% run and then you realize it's a really good stock, you're probably not going to buy it.
But if you already have a position in it and then you see the run, you're more likely to average up knowing that you have a position and the stock is good. So that's a very good strategy in my opinion to use. The third strategy that Stanley talks about is never investing in the present. You always got to envision where the company's going to be in the 18 to 24 months in the future because the stuff that already happened now already happened.
So that's not what you're buying when you're buying the company. You're trying to envision the growth going out into the future. So he says that's one of the biggest mistakes investors make today. That's probably the biggest mistake mistake investors make is they invest in the present rather than forward looking and looking where the puck's going instead of where the puck is.
Because when a company doesn't have a strong future, you can be buying a value trap thinking you're buying this company at this price and it's going to continue growing. But if it doesn't have that future in lock or there's no certainty there, you're just buying a value trap. So that's a very big mistake you can make in the market.
The fourth strategy Stanley talks about is actually becoming not emotional with your stocks. He's actually talked about actually quickly selling and actually buying higher. even after he's sold the stock and maybe he likes it again. He'll buy it higher. He doesn't care. He has no emotions when it comes to the stocks.
He bought a stock at 60 and then it goes to 40 or 50 and it's a mistake. He's able to sell it right away. He doesn't care if it gets back to the original price of 60. So, take the loss. It doesn't matter cuz he doesn't have he's not attached to the stock. He doesn't have this emotional connection that a lot of people have towards their stocks like Tesla holders or maybe even me like a Baba holder.
He has no emotions. If he made a mistake on his thesis, he's quick to sell. I have no emotion whatsoever. Soros was the same way. I didn't really learn from him, but it was certainly reinforced. Like, after a while, you develop enough confidence that you're not afraid to clean the slate and start over cuz you have the confidence that you'll be successful again, and you're not going to sit there in a lazy position that you're not winning.
Another tip that helped Stanley during his career was actually being able to go into other asset classes when they weren't working out. So say the equity market wasn't working out, he was able to go into the bond market. He was able to do like currency. So different strategies in different cases because sometimes the equity market is on a downturn for like 2 to 3 years and you don't know where to go and you know that you can't win that market.
He was able to pivot into different markets. So I'm not saying you should be able to do that. A lot of us are straight stock market investors. Maybe you can get into crypto, maybe you can do options, but be careful with that because you don't want to lose in both sectors because this is how Stanley was able to actually keep his like perfect record of never having a down year.
If the equity markets wasn't doing good, he was able to pivot and go into different markets. So, this is a sound strategy for Stanley, not for everyone. And the last crucial tip that Stanley learned from George Soros was actually position sizing and having the courage in your position sizing when you know the bet is right.
Stanley goes on to talk about Soros hit home runs. Stan had a better batting average. I think the major thing I learned with him is not whether you're right or wrong. It's how much you make when you're right and how much you lose when you're wrong. And you have conviction you should bet really big. So Stanley goes through a story where there was a bet to be made and Stanley just wanted to put 100% of his position in it.
George Soros was actually willing to put 200% 300% into this one position because he was had so much courage in his conviction and that's why George Soros actually did better than Stanley and his returns were better because when he made a bet when he had a when he had a home run idea and he knew this bet was going to work out he would just offer he would just put everything into it.
Stanley was more careful in his position sizing and when he knew he had an advantage, he wouldn't put he would put big amounts of money into it, but not as much as George Soros. But George Soros would just copy Stanley's positions. But the reason why he didn't do as well because Stanley was just kind of creeping into positions and not as confident in the position.
And George Soros would go bam, put everything into the position when he knew he was right. I'm not saying do exactly what George Soros did, but man, that's a good way to think about it if you just have so much courage, but that can be very risky as well. So, you got to be careful with that because Warren Buffett and Charlie Munger was kind of the same way.
Warren Buffett talks about he would bet like 50 60% in Coca-Cola if he could, but he has people to kind of rely on so he wouldn't go that far. Charlie Mer talks about positions that he would bet 40 50 60% actually like leveraging up to buy into positions that he knew he couldn't lose in. So be careful with that.
But it just shows you kind of the strategies and how these investors think. So guys, what do you think about this video? Like and subscribe to my channel. Peace.
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