"When the gatekeeper is asleep, you turn around with the storm and embrace the rose of aging time." This is a poem by North Island.
However, Mr. Bin knows the risks and rewards of investment, and uses value investment as a metaphor for the rose of time, and writes an investment experience called "The Rose of Time".
He advocates the correct investment method, insists on value investment and makes friends with time. The rose of money will bloom with time.
China Buffett Zhang Lei is also a value investor. He is the founder of Gaochun Capital. From 0 to 500 billion, from 0 to 800 companies, from an unknown small private placement to the largest private placement in Asia, from only investing in the secondary market to an institution covering VC, PE and the whole chain investment in the secondary market, it only took 15 years and achieved impressive results.
The rose of time says that time is only a valuable rose, not a ripe strawberry. "Crossing the long river of history and growing together with great enterprises" is the basis of lasting success and the compound interest of a long-term activist.
The author spent a lot of time in the book to describe the value of holding Maotai for a long time. He started to buy Maotai from 23 yuan, and experienced some dark moments, such as plasticizer, eight regulations, 20 15 stock market crash, etc. Until now, he has made amazing profits.
However, recently (news from Securities Times E Company), some media reported that the unit net value of more than 50 private equity products owned by Shan Bin, a private equity tycoon, has fallen below the traditional warning line of 0.8 yuan, and the net value of six products has fallen below the traditional stop-loss line of 0.7 yuan.
In this regard, Shan Bin responded with his real name in Weibo: "At present, our products are well controlled and the net value is relatively stable. The trading department and I have been very cautious. At present, there are more market panic in the turbulent market ... Oriental Harbor has experienced the financial crisis in 2008, liquor crisis, 20 15 and other bad stock markets, and the company has developed better every time. "
The phrase "the stock market is risky, so be cautious when entering the market" will only scare people who don't understand investment, and real investors will continue to think and solve problems in it.
Investment is not only as simple as making money and snowballing, but also a life practice. Many investment methods look simple, but they are very difficult to operate in practice.
Buffett often emphasizes the safety margin of investment: the first is to keep the principal, the second is to keep the principal, and the third is to remember the first two.
Zhang Lei adheres to three investment philosophies: protecting rights and using strangeness; Weak water 3 thousand, but take a ladle; Peaches and plums say nothing, but they go their own way.
After reading this book, I read Zhang Lei's Value and Li Xiaolai's Getting Rich Slowly. The inner ups and downs are somewhat Buddhist, because they have been doing the right thing with the right way of thinking, and they will definitely make a positive breakthrough and interpret "Riding the wind and waves, starting from my Yun Fan and crossing the deep sea under the bridge".
Although I did my best in the fund, one medical fund fell badly, but I didn't feel miserable, because the rose of time gave me a lot of strength.
Second, control the way of thinking, adjust the investment strategy and be a long-term devotee.
One morning in 2000, Jeff Bezos called Buffett and asked him, "Your investment system is so simple. Why are you the second richest man in the world, but others don't do the same thing with you? "
We compare investment to a race between a tortoise and a hare, and 80% of people want to get the result as quickly as a rabbit, not a rose that waits for time as slowly as a tortoise. But I didn't expect rabbits to run fast and die fast, and turtles to walk slowly and live long. Time will produce compound interest, and when the two are compared, competition will naturally occur.
We might as well think backwards, go against human nature and genetic lock, and slowly realize our ultimate wish with the rose of time. Buffett is a winning general because he has always followed the tortoise rule, adhered to the margin of safety, and gained compound interest in his study.
But one of Bin's most successful investments is his long-term persistence in Maotai. He said that life must be adhered to. You can't always wander.
As for another trait-patience, people who can trudge here have basically filtered out 99% of "value" investors in this market.
Behind everyone who reaches the peak, there must be an ultimate desire. In order to reach the highest point, they overcame the weakness of human nature, gained the rose of time in suffering, and provided more value for the latecomers in the "smile with compound interest".
People need not only correct investment theory and direction, but also indomitable spiritual support and soul guidance, especially in the darkest moment of life. But Mr. Bing did it. He kept practicing and trying again and again, and today's time rose.
Everyone's wealth is the realization of their own cognition. But Mr. Bin said: Without the support of correct ideas, we become dependent on news and insider, thinking about the "fish" sent every day and losing the ability to "fish". This is a big no-no for investment. If you want to make money by fate, you must be prepared for fate to take your money away.
As ordinary people, we are afraid of the life of "but not as poor as those who know it" and hope to get rich overnight, but we always move slowly like snails ... Instead, we should learn slowly and practice slowly to make up for our knowledge, and then wait for the opportunity to turn the rose of time into a tree of wealth.
If a person wants to challenge the peak of his life, he naturally needs to suffer hardships. You must go through a dark forest alone. Just as seeds take root and sprout in the soil alone, in this dark time, you have to endure all kinds of loneliness and wind and rain, and concentrate on catching big fish with time.
Third, investment is actually very simple, but the rose that sticks to time is the most difficult.
Investment is actually very simple. Just think about the company, make a good plan and hold it.
Most investors don't have this determination. As soon as they saw that there was trouble in the company, they quickly retreated and regretted it when the value rose sharply. So he bought at a high level, waited for a while, encountered shocks, and quickly sold. No matter how good the fish is, it won't grow up in this way.
"Inversion of investment psychology" will stifle long-term investment: the pain of loss =2.5 times the happiness of profit, and the pain of profit reduction = 1.5 times the happiness of continuous profit.
Who can overcome psychological weakness, who can persevere. Investment means seeing farther than anyone, being more accurate than anyone, who dares to hold a heavy position and who can persist.
So what is the hardest part of investing? The author tells us with experience that it is to stick to the right direction at the most difficult moment!
Buffett's greatness lies not in his wealth of $45 billion at the age of 75, but in his understanding of many things when he was young, and then he persisted all his life. He also experienced the darkest moment in his life, but he faced the difficulties directly, did not become a deserter, and ushered in the highlight moment, which was also a generous gift from God.
But Bin said: The real persistence is that no one gives you any promises. Just like value investment, it is probably a hopeless wait in the desolation, and the only thing that maintains the will is the indomitable heart.
Persistence is as difficult as widowhood. We just need to do the right thing and leave the rest to time.
This extreme concentration makes Dan Bin a very smart person, which can be seen by many investors. For example, sticking to the Blue Moon 10, Zhu Shaoxing stuck to a fund for 26 years, while Bin has been buying Maotai from 23 yuan. ...
Without persistence, there will be no miracle of these investments. I believe that the current crisis, but Bin can also actively respond.
As an ordinary investor, no one wants to be a leek, but at least 80% people inadvertently become a leek. If we want to improve the cultivation of leek, we should learn from smart investors, practice actively, resume in high dimensions, try to break the circle and realize wealth freedom as soon as possible.
The road to wealth can be copied. The key is whether you are willing to copy the thinking path and code of conduct of investors.
On the way to investment, everyone is a practitioner and wants to "go on and on", but the "short-termist" just screwed up and quit. It's not that they don't believe in the power of faith. In many cases, economic pressure and market turmoil play a key role. But investment is a psychological game. Whoever sees clearly and is willing to be a turtle will win the final competition.
The photovoltaic I took last year went up a little at first, but it has been falling since then. Every time I see the income, I think: how did you fall back to me and how did you rise back to me? First, I take less; Second, I firmly believe in the rose of time; Third, I watched the company's performance go up ... Gradually, I became a small Buddhist investor.
If you stumble on the investment road, it's normal. As long as you can do the right thing in the right way of thinking and firmly believe in the rose of time, the future result will not be too bad.