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巴菲特10条投资金句,错过再等一年!
Sou Hu Cai Jing·2025-06-17 10:38

Investment Core Principles - Invest in companies with high returns on new capital, as past performance does not guarantee future growth potential [3] - Volatility is not synonymous with risk; true risk arises from a lack of understanding of the investment and the company's characteristics [3] Valuation and Investment Guidelines - Intrinsic value is determined by the total future cash flows a company can generate, discounted at an appropriate rate [4] - Maintain a margin of safety by understanding the company, its competitive advantages, and ensuring reasonable valuation [4] - Avoid over-diversification; focus on quality investments rather than spreading capital too thinly [4] Timing and Strategy - Do not wait for market crashes to invest; act decisively when identifying companies with sustainable competitive advantages and reasonable pricing [5] - Small investors should consider investing in smaller companies, as they often have greater price discrepancies and potential for significant growth [5] - Stock buybacks should only occur when the stock is undervalued and there are no better uses for capital [5] - Long-term holding of excellent companies is advisable unless there are significant changes in valuation or company fundamentals [5] Conclusion - Understanding and applying Buffett's investment principles can guide investors in their wealth accumulation journey [6]