No fear of global earthquakes, and A shares have risen again, how to grasp it?The latest voice of the stock god: investing "wonderful hand" is "hand"!Just understand it ...

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Invest in Xiaohongshu — Issue 96

In the past 30 years, the investment master, Ses Caraman, who has exceeded 20%, said in the early days of the 2008 sub -loan crisis.

"Ben, wonderful hand, and vulgar hands" are the three sayings of Go, but with the release of the college entrance examination Chinese volume this year, these three words have stirred the entire investment community, and even the stock god section Yongping also answered.

This week's strong rise of A shares, although facing unfavorable factors such as international situation disturbances, the Federal Reserve's sharp interest rate hike, and the heavy decline in the European and American stock markets, A shares have not disappointed investors and rose against the trend. Refers to an increase of 2.46%, and the GEM refers to an increase of 3.94%.

Faced with the strong return of A shares, investors can't help worrying how to participate in this round of market or achieve long -term profit in A shares, just as the three sayings of "hand, wonderful hands, and vulgar hands", how can they understand?

Duan Yongping's answer is "Actually wonderful hand is a hand, so there is no wonderful hand." Although the answers between the two sides are affirmation of "hand", the subtle difference reveals the difference in the inner pattern. In Duan Yongping, the "hand" itself has the trend of wind and thunder. The "hand" itself has endless power, so "wonderful hands" is "hand", "this hand" is "wonderful hand".

Since human began investing, people have pursued the secrets of Shishi Jinjin and seeking "wonderful hands" to win thousands of miles, but the most successful investor's practice shows that the "hand" of investment is "wonderful hand". The most important thing is to understand the power of "hand -in -hand", always adhere to the principle of "book", avoid great loss of investment, and advance in the correct direction. Snowball.

Investment "Ben Hand"

What is the "hand" of investment? When Buffett first read "Smart Investor" at the age of 19, he felt like he was illuminated by lightning. It turned out that this was the real way of investment. This is the absolute great investment book. Since the publication of the first edition of "Smart Investor" in 1949, the basic principles of this book have experienced the 70 -year wind and rain test of the stock market. These principles are the "hand" in investment:

The first is to buy stocks. Stocks are not a transaction code, but a part of the company's ownership, which is the theoretical cornerstone of the entire value investment building. If this concept is established, investors will not be anxious because of the sharp fluctuations in stock prices or macroeconomics. "We hope you can see yourself as a person who really has some assets of the company for a long time, just like you and your family have farms or apartments." Buffett said in the letter of shareholders.

Two theory treats the market. Graham's anthropomorphic anthropomorphic is the partner of your investment company, and he has an irreparable mental illness. When he feels happy, he will only see the favorable factors of the company. He is afraid that you will grab his interests and will report a high sale price; when he is low emotionally, he will only see the company and the world’s Negative factor, he will report a very low price because he is afraid that you will throw your equity to him.

Mr. Marketing serves you there, not to guide you. You will find that his money bags are more useful, not wisdom. If he has a particularly stupid emotion someday, your choice is to turn a blind eye or use such opportunities. However, if you are affected by his emotions, it will be a disaster.

The third is the margin of safety. Graham said, "In ancient legends, a wise man condensed all things in the world into a sentence '" This will soon pass', facing the same challenge, I boldly refine the secrets of successful investment into 4 words. Motto: Safety margin. "Value investment is to purchase things worth $ 1 in 50 cents. Safety margins are left to leave fault tolerance for unpredictable factors such as judgment errors and poor luck.

The fourth is the rule of ability. On the three pillars of Graham, Buffett has refined the rules of capacity and the rules of corporate moats. This is the cornerstone of centralized investment and long -term holding. Buffett believes that every investor will make mistakes, but if investors invest in a company that can be understood by their own understanding, with outstanding economic characteristics, with excellent management and reasonable valuation within their own ability circle, You can reduce the probability of making mistakes, so that you can buy and hold it heavy, and play the "home run".

Despite the bustling investors in the stock market, most investors are anxious to achieve success and will not study the basic principles of investment. Instead, let the K -line diagram of the market be directed to himself. This is the manifestation of investment flowing in "vulgar". There are many people with large value investment, but there are very few investors who rely on the game to achieve success. Investors regardless of the company's fundamentals, the investment results of the investment based on the stock price game are. Slowly may stand in a high hill and become the last takeover.

"Wonderful Hand" is "Ben Hand"

How to understand "this hand" is "wonderful hand"? After a long -term adherence to these principles, Buffett created a 57 -year investment miracle in 57 years. Buffett's mentor- "Smart Investor" author Graham, although he was very indifferent to wealth, also achieved a 17%annualized performance from 1929 to 1956, and left a huge amount behind him. wealth,

Back to A -share investors, the "hand" is still a "wonderful hand". Although the A -share value investment big Zhang Yao has achieved 2000 times investment income in the past 20 years, he has used the most source of investment, that is, the return of heavy warehouses is enough to be attractive. People are satisfied with the combination of investment results. "This hand" brings a replicable success. The stock god Duan Yongping has obtained more than a hundred times the income of NetEase's investment. It has obtained 10 times the investment income in the investment income of companies such as Moutai and Apple in Guizhou, all of which come from insistence on the "hand".

"This hand" is "wonderful hand". This is because on the one hand, the investment strategy of "this hand" avoids defeat investment and avoiding losses is an important part of investment games. In the end, the principal of the investment will eventually achieve explosive investment results.

First of all, the "buying stocks is buying a company", the margin of security, and the capacity circle emphasized by the "hand -in -hand", so that rational investors will be exempted from the foam temptation of the hottest company day after day. Bubble is a destruction of wealth. What is important to invest is not to do, but not doing anything.

The memory of finance is so short that the bubbles have happened many times in the history of the stock, but unfortunately, every time the bubble rises, there are always people who embrace the bubble regardless of their body. When the bubble ruptured, the property of a group of investors turned into ashes. Don't dance with the bubble, because the big collapse caused by the burst of the bubble will never gradually come gentlely, but it collapses. People desperately want to escape but basically fail. Just as when the Internet bubble ruptured in 2000, individual stocks will be cut in just a few weeks, and even some stocks have fallen by more than 90 % in a short period of time.

As a successful investor said: "We can achieve such results for decades, mainly because we do not hold certain stocks. In the late 1980s, we did not hold Japanese stocks, and did not hold scientific network stocks in the late 1990s. From 2000-2008, we do not hold any financial stocks. "Only by avoiding the big disaster, investment will not go out.

Secondly, if you do not make mistakes, then the victory will come naturally. Fu profit is the eighth largest miracle (Einstein) in the world, and compound profit itself is "wonderful hand". A -share value investment big Zhang Yao's 2000 -fold investment income in 20 years is not based on what "wonderful hand", but is based on the expected return of 15%of the annualized 15%. Inside, adhere to "buying stocks is to buy a company", do not understand, do not do, safe margin, and treat market fluctuations rationally.

Buffett and Munger have obtained 36,000 times investment income in 57 years, because they have not committed too many catastrophic mistakes for decades. Most of the hundreds of billions of dollars of wealth accumulated by Berkshire Hathaway are brought by more than a dozen best investment opportunities such as Coca -Cola, Washington Post, and Apple. This is the power of compound interest.

In the long run, the four major value investment pillars built by outstanding investors such as Graham and Buffett, "Buying stocks, buying a company, a rational treatment of the market, and a safe margin and capacity circle". Investment "wonderful hand".

Bleak

Responsible editor: tactics

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