저자: PhilTown · 외국인
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워런 버핏의 투자 원칙 10가지를 소개하는 교육 영상으로, 구체적인 종목 가격 예측이나 목표가 발언은 없다. 핵심 원칙 1: 이해할 수 없는 사업에는 투자하지 말 것. 자신의 능력 범위(circle of confidence) 안에서만 투자해야 한다는 주장. 핵심 원칙 2: 공정한 가격의 훌륭한 기업이 훌륭한 가격의 공정한 기업보다 낫다는 주장(찰리 멍거의 말로 소개). 버핏의 전략 전환 계기로 언급. 핵심 원칙 3: 10년 보유할 생각이 없으면 10분도 보유하지 말라는 '10:10 규칙'. 투자는 장기적으로 돈을 버는 확신을 갖는 것이고, 트레이딩은 단기적 위험을 감수하는 것이라는 구분. 핵심 원칙 4: 주식시장은 능동적인 사람에게서 인내심 있는 사람에게로 돈을 옮기는 장치라는 주장. 시장은 조울증 환자 같은 '미스터 마켓'이므로 감정에 휘둘리지 말 것. 핵심 원칙 5: 투자는 단순하지만 쉽지 않으며 철저한 실사(due diligence)가 필요하다는 주장. 가격은 지불하는 것, 가치는 얻는 것이라는 구분(포르쉐 비유). 핵심 원칙 6: 지루하지만 꾸준히 성장하는 기업에 투자하라는 주장(애플, 아멕스, GM, 존슨앤존슨, 월마트 등 버핏의 투자 사례 언급). 핵심 원칙 7: 경영진의 인센티브가 투자자와 정렬되어 있어야 하며 경영진도 같은 조건으로 투자해야 한다는 주장. 핵심 원칙 8: 월가 조언자와 애널리스트 의견은 경계하고 신뢰할 수 있는 사람과 일해야 한다는 주장. 핵심 원칙 9: 부채는 아껴 쓰고, 빌리더라도 장기 고정금리로 구조화해야 한다는 주장. 과도한 레버리지는 투자 실적을 파괴한다고 경고. 마무리: 시청자에게 가장 좋아하는 투자 조언을 댓글로 공유해 달라고 요청하며, 채널 구독과 공유를 독려.
다듬은 글
how you guys I'm fill town from real one investigative today I've really got a wonderful video for you guys I want to give you some investing advice from Warren Buffett the man himself Warren Buffett's investing philosophies are central to rule one investing foundational beyond just rule number one which is never lose money his ideas all center around a very sober thoughtful and diligent approach to very low risk very high return investing first Warren Buffett says never invest in a business you cannot understand the advice here is obvious but it's often forgotten particularly after investors have had some success the temptation to believe that success in one area you know well allows you to easily analyze another area is much greater once you've had some good returns but you've got to resist this with a big R you need to hold back that line because really the critical key to investing is to make sure you don't step out of your circle of confidence Buffett himself has kept out of technology for a long long time until just recently given its lack of knowledge of the sector next it is far better to buy a wonderful company at a fair price than a fair company at a wonderful price this quote is very interesting because hmm it actually comes from Charlie Munger who's Buffett's partner and is instrumental this quote in changing Buffett's strategy back in the early 1960s and probably is as much responsible for the incredible success of Berkshire Hathaway as anything else so let's still back over that again one more time it's far better to buy a wonderful company at a fair price than a fair company at a wonderful price alright so this is really important very frequently value investors will pass on anything they cannot get for a deeply discounted price that's a big mistake which is why Buffett has been asked many times if he's a value investor and said not really okay Berkshire Hathaway has taken the completely opposite approach and instead is focused on investing in the best companies this was one of Buffett's early lessons as a value investor famously told as his turn away from cigar but investing switch was the essence of Ben Graham's way to go about investing third Buffett says if you aren't thinking about owning a stock for ten years don't even think about owning it for ten minutes we call this the 10:10 rule and rule on investing investing is not trading investing is going out with certainty knowing you're gonna make money in the long run trading we expect some losses so investing is not trading and it has a vastly different goal trading when done well is about taking measured risk for discrete periods of time at a kind of sufficient volume to generate profits and by the way typically involves some pretty wild swings and profitability when we lose money trading it can be pretty big-time investing is about minimizing risk to generate wealth over the long term and when we say minimizing risk Buffett's word for this are certainty we're gonna be certain we're gonna make money oftentimes when he's asked about why did he invest in this company or that one he basically answers like this because I think it'll be worth more in ten years so we're interested about the long-term not the short-term profits another great Buffett quote in this vein the stock market is designed to transfer money from the active to the patient that's why we say over and over again that this this basic style of investing that we do what we call real one investing is simply laziness bordering on sloth now here's another great quote from Buffett about the stock market remember that the stock market is manic-depressive he talks about the stock market as mr.
market this manic-depressive character who some days is like extremely euphoric and some days is incredibly depressed for any consumer of daily financial news this will ring true equity markets bounced around from day to day on the smallest kind of new like whoever's the most emotional seller or buyer they rally and crash on emotions and sentiment and they celebrate or vilify some of the most inane data points like watching CNBC is hilarious it's important not to get caught up in the madness it's very important you stick to your homework and here's the critical word always stay rational it's not supposed to be easy anyone who finds it easy is stupid this quote is actually from Buffett's longtime partner Charlie Munger but it really does say it all Buffett's himself is made basically the same point that you don't have to be a genius to be a good investor but there is a lot of hard work and there's due diligence involved in fact what Charlie Munger says is it's really simple he basically talks about it like if they were teaching this in college the professor would say you know one hours worth of stuff and then what we have to do for the rest of the semester because it's all out there but simple is not easy there is work to do and so what we do when we learn to invest is to narrow down the work to the critical kinds of things we have to do and doing things simple things like just coat tailing great investors can save you an enormous amount of work sixth price is what you pay values what you get this is one of my favorite things that Buffett ever said in other words you don't focus on short-term swings in price you focus instead on the underlying value of the investment if you want to think about what that means it's imagine you go buy a beautiful brand-new Porsche and what you get is the Porsche and what you paid could have a huge variation right you could pay 50 thousand too much you might get it for fifty thousand off if you have some kind of special deal this this dealership has to go out of business or whatever what you got was the value you got the Porsche what you paid could be all over the map and the same thing is true in the stock market be where the investment activity that produces applause the great moves are usually greeted by yawns now from a man who has made a fortune on companies like Apple American Express General Motors ups Johnson & Johnson MasterCard Walmart this is sage advice this is not like Tesla your back in the great battery and the great this and the great new that and now great investing is usually about buying something boring that's very very likely to continue doing what it's done in the past all the way out for many many years in the future I got to tell you this is really sage advice hope that all your investing is low risk and boring next we eat our own cooking certainly you should never invest in a transaction where management incentives are not properly aligned with your own if they make money you should be making money this does not happen all the time on Wall Street be very careful if the guys who are running this company are not eating the same food you are ix Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway this is a great quote it's so true your eyes your average financial adviser is just a guy slaving away trying to make 11 to get his whoo get us kids through college in other words just be careful who you trust okay much financial advice is offered by equity analysts by a range of advisers and in the media should be taken with a grain of salt absolutely true Buffett and Charlie have long worked with the same people with whom they have long histories of trust and experience and any good investor should do the same lastly we use debt sparingly and when we do borrow we attempt to structure our loans on a long-term fixed-rate basis what Buffett's talking about here really warns against over leveraging your investments the truth of the matter is it's over leveraging your investments by borrowing money to invest and also buying over leveraged companies so whether it's too much personal debt that you have your to over leveraged or you're investing in a company whose return depend on being you know borrowing a lot of debt too much or too costly debt can destroy your track record I know this from firsthand experience and it's very painful to watch a management team take advantage of the debt they've got in the company to completely wipe out the shareholders I try to steer away from companies with debt now I'd love to hear from you guys what is your favorite piece of investing advice whether it be from Warren Buffett or anybody else let's hear it and let's talk about it leave a comment below with your answer and I'll be sure to follow up with you and I really want to tell you thanks for watching now go play if you enjoyed this video and you feel it was valuable in teaching you more about Warren Buffett style 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