1. Value investing cannot guarantee our profits, but value investing provides us with the only opportunity to achieve real success.
2. Wall Street makes money by constantly trading, but you make money by not buying or selling. Everyone in this room trades the stocks you own against each other every day, and eventually everyone will go bankrupt and all the money will go into the pockets of the brokerage firm. On the contrary, if you are like ordinary companies and remain unchanged for 50 years, in the end you will make a lot of money and your brokerage company will have to go bankrupt.
3. It’s hard to recover after overturning the situation: The first step in getting back on track is to stop doing the things that have been done wrong.
4. In the 35 years I have been engaged in investment work, I have found no signs that people are moving closer to value investing. It seems that there are some negative factors in human nature that complicate simple problems.
5. The so-called turnaround companies rarely have successful cases in the end. Instead of spending time and energy on buying cheap bad companies, it is better to invest in some high-quality companies at fair prices.
6. There is no formula to determine the true value of a stock. The only way is to thoroughly understand the company.
7. For most people engaged in investment, the important thing is not how much they know, but how to correctly deal with what they don’t understand. As long as an investor avoids making mistakes, he or she doesn't have to do much.
8. The so-called "turnaround" companies rarely have successful cases in the end. Instead of spending time and energy on buying cheap bad companies, it is better to invest in some high-quality ones at fair prices. enterprise.
9. If you can't control the situation, it's not a bad thing to miss an opportunity.
10. The existence of the market provides us with a reference to help us discover whether someone has done something stupid. Investing in stocks is actually investing in a company. You have to behave in a reasonable way and not just follow the trend.