저자: 화마드자크 · 한국인
요약 보기
워런 버핏의 복리 철학과 원칙을 소개하는 영상. 복리는 시간과 인내의 곱이며 성공은 꾸준함에서 온다고 강조. 버핏의 첫 투자(GEICO 지분 확대), 이해할 수 없는 사업에는 투자하지 않는 원칙, 단기 타이밍 예측 대신 구조적 준비와 본질 가치 중시를 설명. 특정 종목이나 자산의 가격 방향에 대한 예측은 없음.
다듬은 글
Success may seem like a miracle, but in reality, it works like mathematics. The formula of compound interest that works only when you build up little by little and continue silently, multiplying the variable of time by the constant of patience . That is the true principle of success. You will succeed.
It is because you wanted that. hello. This is Hwama Dejak. Have you ever heard a saying like this ? If you are not willing to hold a stock for 10 years, you should not hold it for even 10 minutes. What I mean is... It contains the core investment principles that Warren Buffett, known as the investment genius, has adhered to in the stock market for decades .
Maybe this means. It seems that beyond simple investment principles, it embodies the life attitude and philosophy that Buffett has stubbornly upheld throughout his life. So today. I am taking the insights contained in Guavara Teruya's Wall and Buffett's Life Principles. I would like to share some thoughts with you, adding my own reflections to a range of topics from Wallon Beoppit's perspective, ranging from investment philosophy to lifestyle .
I have had a very strong desire to earn money since childhood . That aspiration was very specific: to become a millionaire by the age of 35 . However, when I graduated from Columbia Business School and returned to my hometown of Omaha, I had just over 20 million won in my possession . Making a million dollars with that money seemed absurd to anyone, but I thought differently.
This is because he already knew how to earn a million dollars and believed in that method . There is only one way. It was precisely the high interest rate and compound interest. Compound interest is not a simple financial concept. This is because it is the most powerful law of redefinition discovered by humankind and the formula for the miracles created by time.
Einstein said. Compound interest is the greatest mathematical discovery created by humankind. This was the very weapon that would turn the dream I had set into reality. Above all, I had already decided where to invest, and that was the insurance company, Geico. It was a company I had been keeping an eye on since I was a student, and I was convinced it was an investment worth placing my hopes on.
I started working as a stock broker at my father's securities company, and from then on, I began recommending and selling stocks that I judged to be valuable to people. The first customer was my aunt. My aunt trusted my words and bought me 100 shares of Kaiko stock. I thought that if no one else bought them for her, I could just buy them myself, so whenever that happened, I consistently bought her five shares of Kaiko stock .
The goal was simple. Owning 0.1% of Geico stock. At the time, it was to own 0.1% of the total issued shares of 175,000 . In that case, when GEICO's market capitalization reaches $1 billion, 0.1% of the 1% of shares will become $1 million, and eventually, I will have $1 million. It was a precisely calculated future.
And finally, as time passed, the value of my Geico stock grew enormously, and my goal was realized much sooner than planned . That's right. Compound interest is a reward for persistence. I believed that I had to have patience with the belief that growth was happening, even if it wasn't immediately visible today .
And I was convinced that this flow of compound interest would grow larger and gain momentum like a snowball rolling down a mountain, putting my life on a massive trajectory . That is what Mongri is. At first, nothing happens. It gathers little by little and grows little by little, but outwardly, there is no significant change.
It's even boring. What am I doing right now? Does this really work? This thought keeps creeping in. However, if you keep pushing forward silently without giving up, at some point, noticeable changes will gradually begin to appear. That change does not take the form of a straight line that grows steadily little by little every day.
At first, it seems to grow slowly, but it gradually picks up speed, and the acceleration of that speed increases. Even the seemingly slow pace of growth can actually be seen as a time to warm up. And from a certain point, it begins to grow rapidly at a speed that was truly unimaginable. The true power of compound interest lies precisely in this moment of explosion.
It doesn't come simply because you've waited a long time . It is a moment granted only to those who have steadily kept moving forward without giving up or wavering. People ask me this. How did you succeed so suddenly? They think I suddenly became rich one day . Believing there must be a miraculous investment secret that changed one's life in a single stroke, I am trying to uncover what that single stroke was.
Of course, there are things in the world that suddenly become visible. However, if you look even a little closer, you can see that it is the result of quiet accumulation over a very long period of time in unseen places. Have you ever heard of Chinese Moso bamboo ? In the case of Moso bamboo, it does not grow even 1 cm during the first four years, no matter how much you water it .
On the surface, there is no change. Then, surprisingly, in the fifth year, the bamboo grows to over 15 meters in just 6 weeks . That remarkable growth, too, is not the result of something that happened suddenly, is it? For a long period of four years, the bamboo had been growing underground rather than above ground .
Deep underground, unseen, it had been spreading and expanding its roots, silently preparing for the moment when it would eventually burst forth . However, people do not want to look at that four-year period . Everyone is paying attention to just 6 weeks. We only talk about the results that finally emerged the moment visible growth began .
The bamboo grew 15 meters in just 6 weeks . Many people say this, but the 146 days of waiting and the patience that continued without giving up during that time are easily forgotten. Only the results are remembered, and the process is neglected. However, true growth was already beginning in that very invisible process .
The result is merely the point at which it began to appear. Success may seem like a miracle, but in reality, it works like mathematics. The formula of compound interest that works only when you build up little by little and continue silently, multiplying the variable of time by the constant of patience .
That is the true principle of success. So do n't give up easily just because you don't see immediate change. You must not forget that the very small action you take today could be the root for tomorrow's miracle . People often burst out laughing when they see my hairstyle . If you're as rich as Buffett, isn't it okay to dress a bit more stylishly ?
It’s not that I don’t understand that at all . On the surface, it may seem like I pay less attention to my appearance, but for me, it is not simply a matter of whether or not to dress up. This is because calculations far more important than appearances always run first in my head. For most people, spending is simply a natural act of opening their wallet.
However, to me, spending is like giving up future investment returns . I do not view even spending 140,000 won at a hair salon as a simple expense. This is because it could be a decision that blows away the potential to earn thousands, perhaps tens of thousands, of dollars in the future. So I always ask myself.
Is the satisfaction gained from spending money now worth sacrificing future profits? This question is not simply about saving money . It was training to constantly be aware of how spending money changes my opportunity cost . Of course, many people say this. It's a small amount of money. Isn't it okay to just use that much ?
However, the problem is not the size of the amount, but the direction of the spending habits. When I was young, I read a book called "A Thousand Secrets to Becoming a Millionaire." That book completely changed the way I approach life . The book contained the following: If you invest $1,000 at an annual interest rate of 10%, it will become $1,600 after 5 years, $2,600 after 10 years, and over $10,000 after 25 years.
At that moment, I realized one thing. Consumption is a loss, and compound interest is a weapon. Since that day, I started viewing every moment of spending money as a future loss. People often buy and drink a $10 beverage without a second thought, but I thought that those $10 could turn into an asset of $100, or perhaps even more, 20 years from now .
This is not just simple saving . It was a thought training exercise that incorporated the power of time into the calculations . You might think it's frustrating and stupid . However, this is a way of thinking that only someone with a sense of time and compound interest can adopt. This is because I considered that if I could turn even a single penny toward the future, it was not just money, but opportunity itself .
Those who spend small amounts of money lightly will eventually miss the opportunity to acquire a large sum forever. To reiterate, a person does not become rich because they have a lot of money; rather, the way they handle money makes them rich. Above all, those who understand compound interest have a different perspective on money, and those who believe in compound interest have a different way of accumulating time.
People only think about earning more to become rich . Higher salary, better job, faster return on investment. However, I believe that one must learn to handle things before earning them. I have never once taken money lightly. Even small amounts were converted into future value, and the standard of compound interest was applied to even the smallest choices.
Above all, those who know time do not move money impatiently . This is because success belongs not to those who move quickly, but to those who build. Some people work for 10 years but just live repeating the same life. On the other hand, another person gets on a completely new trajectory of life thanks to the value accumulated through compound interest over 10 years .
It is neither luck nor talent that makes the difference. It is an accumulation of attitudes and choices . So even now, I regard my spending, my time, and every single one of my actions as an investment in the future. This is because investing in the future is what redesigns my present . Even if I were to devote all my time for a year to studying technology, it would be difficult to even rank within the top 100, 1,000, or even 10,000 in that field.
This was exactly why I didn't invest in information and communications and technology stocks. You might think I sound foolish when you hear this . In fact, many people and the media said this. If only you had invested in Imtel at that point, your investment life would have been completely different.
However, I have always stuck to the principle of investing only within my means . Of course, this principle sometimes caused me to miss tremendous opportunities, but at the same time, it also served as a solid shield protecting me . In the 1960s, all investors were enthusiastic about tech stocks. Companies considered innovative for their time, such as Trenzilon, Polaroid, and Jess, gained tremendous popularity in the market.
Investors from all over the world swept up the fever, and money flocked in following them . But I just quietly watched the heat. This is because, at the time, I simply could not understand exactly what those companies did, how they made money, or how they would evolve in the future. So I established a principle.
I never invest in businesses I do not understand . There was an opportunity right in front of my eyes . However, I knew exactly that the opportunity was not mine, but belonged to someone who was better at that field. This happened when I was serving as a director and treasurer at Green College. There was an important meeting to decide whether or not to invest in a company that would later grow into Intel, and the committee ultimately approved the investment, resulting in a large profit.
However, I did not invest a single penny in that company . And even after watching that company later become Intel and grow rapidly right before my eyes, I never once regretted it. Why? Because it was a world I could not understand . No matter how much I studied, I was n't confident that I could become an expert in that field.
I am not a technician. I am not an IT expert, either. And I never make money in a world I don't know . Instead, I chose to invest intensively and persistently in the field I am best at . That is the real reason I was able to survive in the market for so long . This is because investing beyond one's capabilities is ultimately a gamble, no matter how appealing it may seem.
People go wild for the latest trends and bet on the next Apple and the next Google, but I walked the exact opposite path. I focused on industries that might seem boring and simple, such as groceries, insurance, steel, and newspapers. This is because I was able to understand that field . And only what can be understood becomes a truly predictable investment.
As a result, I was able to generate stable profits for a long time because I avoided where everyone else was jumping in and focused on what I could see clearly. And this is not just about investment techniques. This is also a story about one's attitude toward life. Whether it is investing or life, the key is to focus on what you know well .
Knowing accurately and deeply is far more powerful than knowing broadly and cleverly, as much as others do. People say this. The more diverse the experiences, the better. You have to know a lot to be given many opportunities. Of course, these words are not wrong. However, shallow diversity inevitably leaves behind only shallow conviction and wavering judgment.
Focusing on what I truly know well , and picking up speed on the path I can do well . That is indeed the surest way to grow steadily, for a long time, and significantly . It is not when it happens, but what happens that matters. This is one of the core principles I have learned firsthand over decades of observing the market and enduring countless crises.
People always try to time things right. When the new year comes, news, columns, and social media are completely covered with stories like this. What will happen to stock prices this year ? What will the return be by the end of the year ? Self-proclaimed experts are busy predicting the unknown future, and people are enthusiastic about those predictions, eagerly jumping into the timing game .
However, I do not enter that stadium in the first place . Even when I was running an investment partnership, my philosophy was clear. If you feel that you cannot invest without market forecasting, it is best not to join my partnership. Of course, that does n't mean I didn't make any predictions. I predict not when, but what .
This is a completely different perspective and a completely different strategy. For example, let's assume there is a period when stock prices keep rising. That is when people say. This is a completely new era, different from the past . However, my opinion is different. No matter how fast a tree grows, it cannot reach the sky.
Stock prices are bound to eventually decline, and every rise is bound to be corrected eventually. No one knows when that will happen, but one thing is certain: it will happen. The same was true for the sublime mortgage crisis that occurred in the United States in 2007. It seemed like it exploded suddenly, but the god of danger had been around for a long time .
I had already anticipated that the system of indiscriminately lending money to people with low credit ratings and selling it off as derivative products would eventually lead to a major accident. And eventually, the market collapsed. It is always like that. Real crises come without warning. So, rather than spending time trying to get the timing right, I chose to prepare in advance for that moment that was bound to come someday.
The company I am looking for is simple. A true company that can survive to the very end, no matter what happens or what shocks occur. A company that does not ride the waves of a bull market, but remains unwavering and does not lose its essence even during a recession. I have invested in such companies my whole life, and my companies have protected my assets.
That's right . Instead of trying to predict change, you must first build a structure that will not collapse no matter what changes come. This is also a story about the mindset, philosophy, and attitude toward life of an investor . If you feel like you would collapse emotionally or financially when your stocks fall by 20 to 30 percent, then you should n't invest in stocks in the first place .
This is also a sentence I wrote in a letter I sent directly to the investment partners . The market fluctuates emotionally dozens of times a day . However, investors should not do that. The more emotionally the market moves, the more investors must hold on rationally . If you are in an investment environment where you are emotionally shaken by falling stock prices and financially cornered, then you are not yet qualified to invest.
This is because investing based on emotion is no different from betting in a casino . Above all, I do not invest believing that the stock price will rise . I invest because I believe that company will inherently grow . Stock prices can fluctuate temporarily . However, in the end, it is bound to converge to value.
So, there are exactly two things you need to do before investing . The first eye for finding valuable companies. The second is the will to persevere, believing in that value. And above all, the most important thing is to invest within limits that do not interfere with your daily life. Someone who pours all their money into investments and obsesses over stock prices day by day can never survive in the long run.
This is because while you must take risks to make a profit, you can generate even greater returns when you understand and control those risks . Prediction is an illusion, and preparation is a strategy. True investment is not riding an emotional rollercoaster, but rather limiting risk to a calculated range after thorough preparation and full understanding.
That is exactly the attitude of rational investment that I speak of. Now, block out the noise of the market and focus on the essence of the business. You must look at the business, not the stock price, and at the people and philosophy, not the numbers . The more you try to predict the market, the more the market will test you .
However, those who understand value are not shaken by any test. This is the attitude of an investor who protects their life, and the essence of wealth. thank you This has been the Hawaiian mansion. no see.
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