只投资少数你真正理解的公司,而不是凑满你的第三十或第五十个选择。
It just seems logical that sticking to investing in only a small number of companies that you understand well, rather than moving down the list to your thirtieth or fiftieth favorite pick...
只投资少数你真正理解的公司,而不是凑满你的第三十或第五十个选择。
It just seems logical that sticking to investing in only a small number of companies that you understand well, rather than moving down the list to your thirtieth or fiftieth favorite pick...
这句话究竟在说什么
格林布拉特反对'为了分散而分散':当你把清单越往下翻、买越不熟的公司,风险反而上升。宁可重仓少数真正懂的'前几名',也不要用不懂的第50名凑数。集中+理解,胜过分散+无知。
给普通投资者的可执行清单
一个真实故事 / 场景化情节
格林布拉特在哥大授课时反复强调:他早期就是因为只做自己能吃透的特殊事件(spin-off、并购套利),才实现高回报。那些为'凑够分散'而买的第30名以后的标的,往往是最容易踩雷的。
这句话在该大师思想体系里的位置
格林布拉特:'**只投资少数你真正理解的公司,而非凑满第五十个选择。**' 巴菲特:'**风险来自于你不知道自己在做什么。**'
不熟不做,知道自己不懂什么比懂什么更值钱。
Don't do what you don't know; knowing what you don't understand is worth more than what you do.
赌徒确实会焦虑,所以他们需要学心理学,需要找到安慰自己的办法。你买自己懂的未来会赚很多钱的公司,你是不需要懂心理学的,你懂公司就足够了。
Gamblers do get anxious, which is why they need psychology and ways to comfort themselves. When you buy companies you understand that will make a lot of money in the future, you don't need psychology — understanding the company is enough.
多学科思维模型比单一模型好十倍——不是因为它更聪明而是因为它更不容易被一门学科的理论骗到。
A multidisciplinary mental model is ten times better than a single model — not because it's smarter, but because it's harder to be fooled by one discipline's theory.
散户最稳的赚钱路径:看不懂个股就买标普500,长期必赚。