Chapter 173

“。。。 Since July 7 last year, Starbucks shares fell to a 52 week low, after trading at $14.95 a share. Howard Schultz, founder of Starbucks, took the post of CEO again and started a series of stable and powerful reforms. Finally, it achieved the first profit growth since the first quarter of 2008 in the third quarter of this year.

Since then, the share price of Starbucks has risen steadily. At present, the total stock value of Starbucks is about 13.14 million, and the return rate is more than 31%. The total stock value of Apple company is 54.32 million, and the yield is more than 34%

Arthur leaned back in the boss's chair, hands crossed in front of him, listening quietly to the report to Smith JAMA, whose eyes were full of curiosity and admiration.

For Smith JAMA's admiration, Arthur naturally knew why. The stocks of these companies that he insisted on buying were rising steadily. In such a short period of time, the yield had reached 30% or 40%.

He has invested a total of $100 million in the US stock market, and now the total assets in the US stock account have become more than $138 million!

This high rate of return, if known by the outside world, will definitely usher in a burst of hype, giving Arthur a new investment genius aura.

You know, in the world's investment community, 20% is a magic rate of return, whether it is the older generation of investors, Warren Buffet, Walt Schloss, Soros, or the new generation of investment backbones, Einhorn, Ackerman, Karaman, the best investors' return is always close to 20%.

After all, diversified investment, long-term holding. After the capital scale is large, there will be few choices. Therefore, everyone's income seems to be the same.

Arthur didn't feel proud of it. He knew better than anyone what he depended on. If he could not succeed in such an encounter, he could really die again.

"Well, this not only reminds me of Charlie Munger's saying," if you buy an undervalued stock, you have to wait until the price reaches your calculated intrinsic value, which is very difficult to calculate. But if you buy a great company, you just sit there. "

It seems that I just need to lie down and wait for them to appreciate. " Arthur couldn't help laughing and joking.

This made Angela and Smith JAMA, the chief advisers sitting opposite him, chuckled together. Angela's eyes twinkled and his face was full of smile. "During this period, I have also been analyzing the characteristics of the rebound and recovery of the US stock market. Based on the data analysis and comparison of the stocks with the highest growth ranking, I summed up a little prediction.

In the future, if we grasp the two main lines of the rise of new technology, covering the innovation of most technological elements and the recovery of the old economy, and covering the real estate and infrastructure cycle, we can basically find some big bull stocks. And a large number of white horse stocks can also be found.

Therefore, there are many good stocks to choose from. The most important thing in investment is not to be able to hold it. The core of investment is risk control, and the best investment is to obtain the return after divestiture risk. "

From Arthur's ridicule, angel heard his young boss's decision to hold his shares for a long time. However, he had just experienced a hellish 2008 financial crisis, and everyone believed that the US stock market would experience a general depression in 1929. America's top five investment banks face the risk of bankruptcy one by one, and the end of the world is just around the corner.

Although the U.S. stock market began to rebound in March this year, everyone was still shrouded in fear. No one knows whether the rally will be long-term or temporary. The future is full of uncertainties.

And this kind of uncertainty is risk. After all, everyone in the investment is facing a world full of uncertainty. In line with the attitude of being responsible for the investment and financial management guidance of her new boss, Angela has to remind her that it is not suitable for long-term heavy position holding at present, and the best way is to take profits when it exceeds the profit line.

On the other hand, Smith JAMA gave Angela a a deep look in his eyes, then looked at his boss with the same look of deep thought, and nodded to show his approval of Angela's point of view.

Unfortunately, Arthur couldn't listen to their suggestions, because he was the only one who didn't have to wait until everything was over and regretted what had happened in the first place from the rearview mirror. What he saw was what would happen in the future, not what might happen. The risk uncertainty among everyone was high certainty.

In the face of high certainty, he is bound to hold heavy positions or even leverage.

Just like last year's investor, Warren Buffett, bought preferred shares. Arthur also studied and pondered over why he chose to take a stake in Goldman Sachs when it was like the end of the world if he didn't cross it?

At that time, Arthur had a long time to guess whether Goldman would go bankrupt or not. As long as Goldman doesn't go bankrupt, he can get 9% of the dividend. At the same time, if the stock price rises, it can be converted into common stock.

From this, let Arthur understand a truth, investment, is not mining bull stocks, but to identify risks."Ha ha, I want to ask you, what is the most important for investors?"

Arthur, with a faint smile on his face, relaxed in the boss's chair, asked a question, but he didn't want to hear the answers from his two subordinates. Instead, he immediately said, "my understanding is that the Bo rate is more important than the apparent increase. Can let the person make money, must be the long-term Bo movement is not big, the best asset is constantly upward.

An asset or stock, if it doesn't have a pullback every year, steadily goes up 20%, and you'll hold it all the time and get the full yield. This is the most valuable.

Of course, I also know that in the world of investment, some people will win the lottery and some will buy stocks with a yield of more than 100 times. But that person may not be me. But what I want to say is that when it comes to investment, what I value is not explosive power, but who lives longer.

Apple Corp, I will not say much. Look at Amazon, when the Internet bubble burst, Amazon's share price fell by 99% for 10 years, and now slowly watched the company's share price climb out of the ruins. There was also a financial crisis in the middle, and it continued to rise steadily.

In my opinion, after a long period of torment, the future is just when the Amazon share price takes off, and I don't want to miss the opportunity to taste Gan Lu. "

Feeling the boss's persistent attitude, Angela and Smith JAMA looked at each other and saw a trace of helplessness in each other's eyes. However, they also felt that their boss, at such an age, could have such an investment insight.

After all, if you can hold it for a long time, you can really get the overall return on the assets. And those who do not have a firm mind, chasing up and down, more than 70% of them will lose money.

At least they don't have to worry that their boss is the kind of person who has no persistence, is capricious, and is eager for success.

Angela's eyes twinkled, and her expression suddenly became serious and serious. She said, "all along, my investment philosophy is that the proportion of financial investment must not exceed 30% of the total personal assets.

Boss, your financing ratio has been seriously unbalanced. Almost all of your funds have been invested in the financial market. No matter how big the rise is, gold and stocks can not exclude their own risk investment attributes.

I have been thinking about a problem. In the future, when people look back, they will find that the scene of financial investment in front of us is just a large-scale transfer of wealth. Now, the investors of various trades and professions may feel that they have made a lot of money. This is the same thing as the legend of Xiao. The first group of people who participated in it made a lot of money, but in fact they did not create wealth at all. Add in the cost of friction, and wealth is even reduced.

, which big bubble didn't burst? As long as there are enough people involved and enough funds involved, a speculative game can be played for a long time. Therefore, I think that only real business can really create wealth! '

"ha ha..." For Angela's solemn advice, Arthur could not help laughing, shaking his head and saying: "I very much agree with your view that only real business can really create wealth. Don't worry, this imbalance of investment asset ratio is only temporary. As you said, this is a large-scale transfer of wealth. What we need to do now is to make good use of this opportunity and let these things go Wealth has been transferred into our pockets, providing enough funds for me to build an industrial kingdom! "

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