저자: TerrySmith · 외국인
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결론: 테리 스미스의 10가지 투자 황금률 강연으로, 기업 이해·장기 보유·저비용 인덱스 투자 등 일반 원칙을 설명하며 특정 종목의 가격 방향 예측은 없음. [기본 원칙] 이해 못 하는 기업에는 투자하지 말 것. 사업 구조·수익 창출 방식·고객을 이해해야 시장이 40~50% 빠져도 5~10년 보유 가능. [타이밍과 거래] 시장 타이밍은 불가능하다는 주장. 강한 기업을 사서 오래 보유하고, 잦은 매매는 수수료와 함께 수익을 훼손하며 승자 종목을 너무 일찍 팔게 된다고 설명. [비용과 분산] 펀드의 연 3% 수준 수수료와 성과보수는 복리 수익을 갉아먹으니 최소화할 것. 저비용 S&P500 인덱스 적립식 투자를 대안으로 제시. [종목 수] 분산투자는 과도하지 말아야 하며 약 10~15개 종목이 적정, 그 이상은 지수 투자가 낫다는 견해. [세금과 기업 품질] 세금 회피만을 목적으로 투자하지 말 것. 부채가 많고 품질이 낮은 기업은 피하고, 경쟁우위와 좋은 경영진을 갖춘 기업을 선택. [사업 단순성] '바보도 운영할 수 있는' 사업 구조의 기업(예: 애플, 아마존 언급)을 선호. 경영진의 특별한 노력에 의존하지 않는 기업이 안전하다는 논리. [더 큰 바보 이론] 고평가 종목을 더 비싸게 사줄 사람이 나타날 것이라는 기대는 위험하다고 경고. 적정 가치의 강한 기업을 보유할 것. [단기 변동 무시] 주가 등락은 사업 펀더멘털과 무관할 수 있으므로, 사업이 여전히 강하다면 화면을 끄고 무시하라는 조언. [언급 종목] 구체적 종목 가격 방향 예측 없음. 애플·아마존은 사업 구조 예시로만 언급되고 S&P500은 저비용 투자 대안으로 언급됨. [출연자 전망] 대상 자산에 대한 1~3개월 방향 예측 발언 없음. 장기 원칙 중심의 교육 콘텐츠.
다듬은 글
erry smith he's a fun manager to average around 18 to 19 over 11 years span he just came out with a bug called investing for growth and this is an amazing book in this book he talks about 10 golden rules for investing and these rules are so key and so important that i want to talk about it today and it's important because it allows people to avoid the pitfalls of investing that kills your returns listen to these 10 golden rules if you want to be able to beat the market avoid pitfalls these rules are super key in your investment journey if you don't fully understand it don't invest and this rule is super key because if you don't understand the company what it does how it makes money how are you gonna understand the risk involved what happens if this company gets in trouble and you don't know if it's going to recover from that because you really don't understand the company what happens if the market drops 40 50 percent are you gonna be worried about your company you're gonna be worried if you don't understand what the company does how it makes money how is its customers like like those are the fundamentals of understanding the company and knowing if you can invest in it so make sure you understand the company so you're able to hold for five to ten years without sweating being able to sleep at night it's important that you understand the company number two don't time the market do you really think you're going to be able to call the top of a market cycle sell out perfectly and then soon as it goes down get right back in how likely is that the important thing to do is just buy strong companies and just hold on you can't time the market no one's able to time the market because if you were able to time the market you would be rich right now so don't think you can do it and if you can't do it it's just important just to buy really solid companies and hold on number three minimize fees this is key especially if you have like a mutual fund or you have any of those type of funds that actually take like three percent of your fees or any kind of performance fees you don't want any of this because that's gonna hurt your gangs overall down the line those three percent fees are just gonna add up and kill your investment gain so if you don't understand the market just invest in the s p 500 and just set it aside dollar cost average number four deal as infrequently as possible and this is super important because when you're getting in and out of stocks it goes back to thinking you can market time which you cannot do if you could you would be rich it's gonna hurt your overall gangs because all those commission fees are just gonna pile on longer you go investing throughout five ten years those are gonna hurt your gangs and on top of that i guaranteed if you just deal in and out of stocks you're gonna sell a winner you're gonna sell a company that's got a 20x because you thought you could just go in and out of stocks perfectly so don't trade frequently it's gonna hurt your overall gangs number five do not over diversify this is important because charlie always says that there's not a lot of ideas in investing why are you gonna miss the opportunity to invest more in your first stock than trying to invest in your 10th your 15th why are you gonna put more money in those stocks where you can put more money on your first best idea it doesn't make sense right i feel like you should have a portfolio of like 10 stocks maybe 15 maximum because we understand that even if we have one best idea it doesn't mean that's the one that's going to take off it might be the fifth one it might be the sixth one or the seventh one one that we don't think that's going to do it might do it so i feel like it's good to have like an average of 10 maybe 15 is too much but i say 10 to 15 the ma like 15 maximum anything over that might as well just buy the market might as well just get into the s p and get the averages number six never invest just to avoid tax this is just a stupid thing to do why would you put your earned money just to avoid taxation what if that what if that stock actually does bad like don't do that it just doesn't make sense don't invest just to avoid taxes number seven don't invest in poor quality companies this is super key because if you invest in poor quality companies and the market goes down 50 you are going to wish that you never invested in that company because those companies that have a lot of debt bad quality companies what if they don't recover from that it's super important to invest in companies with competitive advantages with good management that you understand so you can be able to hold those companies for five to ten years and don't have to worry about them and you can sleep good at night number eight buy shares in a business that an idiot can run this is super key and it goes back and buying companies that are basically a cinch companies where you can just have your feet up on the desk you don't really have to worry about it think about companies like apple like amazon because one day you never know what's gonna happen you never know five ten years down the line that an idiot might actually have to run your company and the company's gonna be so strong it's gonna actually overcome those things because we don't wanna always rely on a company that the management has to do some extravagant things to make this company go good because that means a lot of things can go bad and really influence that company number nine do not engage in the greater full theory and this is so important not to do a lot of people think they can just buy overpriced companies and hope to sell it to a greater fool not worrying about the downside but i'm telling you now just buy strong companies that you actually want to own at good evaluations that you understand and you can hold for another five to ten years don't rely on a greater fool to buy those shares of a company you really don't like and that it's overpriced because what happens if the market turns on you when is that company to get to that price that you feel like a greater fool will buy don't rely on that in this market at this time number 10 if you do not like what's happening with your shares turn off the screen a lot of people understand that your shares the stock is going to go up and down for various amount of reasons it might have nothing to do with the fundamental business we understand that companies take a long time to actually change so just the up and down of the shares may have nothing to do with the fundamental of the business so if you don't like that you have to turn off your screen and you have to realize that the price on the stock market has nothing to do with the value of the actual business because every stock has a real business underlying it so make sure you put that in your head so if you don't like what's happening with your company with your shares and you know the fundamental business is still strong just turn off your screen ignore it it can just be all chatter and talk ese 10 golden rules by terry smith if you liked the video can you please
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