回复@babygirl: 投资其实不需要啥理论的。买股票就是买公司其实属于定义，因为股票就是公司的一部分。//@babygirl:回复@大道无形我有型:格雷厄姆

回复@babygirl: 投资其实不需要啥理论的。买股票就是买公司其实属于定义，因为股票就是公司的一部分。//@babygirl:回复@大道无形我有型:格雷厄姆给价值投资理论的四大基石贡献了其中的三个，分别是买股票就是买公司的一部分、安全边际和市场先生。格雷厄姆讲究量化烟蒂投资，要求以低于三分之一的...收起@大道无形我有型：If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you'd need. If you're driving a truck across a bridge that says it holds 10,000 pounds and you've got a 9,800 pound vehicle, if the bridge is 6 inches above the crevice it covers, you may feel okay, but if it's over the Grand Canyon, you may feel you want a little larger margin of safety... 1997 Berkshire Hathaway Annual Meeting, quoted in Andrew Kilpatrick, Of Permanent Value: The Story of Warren Buffett (Vol. 2), p. 1615If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you'd need. If you're driv...2024-01-20 13:59 · 转发 240 · 讨论 16 · 赞 659