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Said that in what was originally considered to be the world's smartest place inside there are graduates of the fund, with the name of the next name, but there is one person he proved one thing, almost can be said to be a kind of bow to these professionals , doing ordinary salvation living an ordinary life actually has a really really gained advantage, can pass these experts, this person is released to become the best performance in the world of fund trousers in the year King delivered an average annual return of about 29 from 1977 to 1990, turning an $18 million fund into $14 billion, but here comes the point .
His strongest ideas are not from the research department of the home , but from the mall supermarket, and the central idea of his too's wardrobe is very simple and very revolutionary. Invest in what you know, large organizations tend to ignore the information laid out in front of your eyes, the products you use, you go to open a shop , the services you rely on, your daily life is a research lab, and most professionals never answer out in .
That’s your advantage, says before you buy anything that you must know clearly, which category of stocks you are buying into strategic companies, and it divides each and every one of the stocks into the big strategic class of companies They are completely different, let us explain, because this classification is the basis of the whole book, the first category is slow growth stocks , these are large mature companies, only grow 120 to 4 a year such as large utilities or old industrial heads, you buy them not for quick sound value, but for dividends and stability, the principle is that if you want to grow faster , the second category should not be bought at the beginning Growth stocks, these are large and reliable companies, grow to about 12 a year, are some brands of mutual knowledge business even like Coca-Cola and insurance such see growth stocks, they will not be ten times the stock, but can be more than you stable once return, but also can help you keep the portfolio in bad times in the market to make big money, is the fast bundle of growth stocks you go to more than 20 to 5 Where the winners.
Lian's warning is that fast growth stocks do not have to be in fast-growing industries, and a fast-growing stock in the Chen boring industry instead is often the best discovery , because no one cares about it fourth cycle stocks These companies will follow the cycle want to fall, such as airlines, car manufacturing, lower earnings business cycle significantly The fifth category is the turnaround, these are sunk, is returning to a new company, that is, after going to the edge of the cliff, now to climb back up the enterprise, even in the stock such as the stock made a lot of money, like the street market ban is from near bankruptcy body, the most important is to judge whether the company has enough cash and plans , can survive until the turn, record assets, these companies have not used for example Real Estate Cash Subsidiaries Patents Oil Reserves Value More Than Price Reflected The classic example is that a company's land alone is already worth more than the market value of its entire company, finding these stocks before anyone else finds out is equivalent to finding free before Here is the most important point, which analogy a company belongs to How should one expect one and how to measure success A slow growth stock is already a long-term profitable, as well as a fast-growing stock is already a long-running profit, you should be a long-term profit only, as well Figure out which grid the company belongs to, before it can not be very good forbidden investment, so brings us to the most famous word of the year, 10 times stock a stock rises to ten times your original investment This is the ultimate goal, and behind that very carefree, in a portfolio a few super is enough to guarantee several books Where is the stock that changes your portfolio 10 times hidden ?
Almost never in those large famous, many people follow the stocks, they will be hidden in the quick promotion long stocks, sometimes in the turnaround stocks, world companies, looking for professionals will ignore or look down on, gold is your daily knowledge to give you an advantage, even in the east shop, private and find 10 times the stock, and not in another ten times the same thing It was five years, ten years and even the biggest mistake of investors is too early to hold the best stock, while holding some bookmakers too long, even their own advice directly, than your winners continue to run, so how do you actually go to choose one, the principle is : every stock you hold, there must be a story that is a simple draw reason why it rose, if you can not hold it in two minutes why ?
You should not have it late at all, and you have to revisit the story every few months, if the story deteriorates, if it is still intact to keep holding on , it is knowing that there is not enough in the story, you must verify it with numbers, Lianzhi's nuclear indicators include how much you pay for profit.
The company's growth rate, and making the earnings grow unreasonable How much gold and debt the company has, as well as its free cash flow, a simple tool he often uses is to compare the time earnings to the growth rate, if a fast- growing stock's P/E is lower than its growth rate, then you may find a cheap, piece For market forecasting and monarch forecasting famously so disdainful of a game of predicting ambassadors timing is a must-book for almost everyone Don't pay attention to the noise, stop thinking about where it will go Put your attention on the company in front of you, and one more thing , is to be forbidden to face your own range of abilities, you do not need to understand every stock, just need you to hold those , use your daily life to find so, but before moving gold and silver must do your homework, even to its own quotes know what you hold, and know why you should buy this signal when you should hold it The story has been broken, that is, when the fundamentals turn bad, sell you find an obvious opportunity, want to reconfigure some money when, sell Also, when the company made another type, such as a quick promote long stock become a million long stock to sell, you should not do, is pure, because the stock rose sell so is the reason for making more than 10 times the power of this book is finally said for the family , and the argument of defense, you do not need to use complicated strategies to run the execution of the mission, you need curiosity patience, and willingness to believe what you see in daily life Professionals are there you do not have the resources, but you have one thing they do not , is a daily sitting in the front row of the real world , than Delianzhi left investment success, not in doing the interview and understanding the story of the smartest person, investing Then let your people continue to runし, as long as you keep doing it, you will likely find that you yourself have already camped Hua now, thanks for watching
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