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Data:2009-12-12 2:34
Source: Beijing Youth Daily, Yu Mei-ying
More than 8000 million shareholder accounts! A new round of super-bull market with its enormous wealth effect of China's stock market in one fell swoop refresh the record of the past 16 years. So far, a perfect storm bull market, so that the domestic one can not help but to envy tone magazine praised "Everybody shares of the gods." However, it seems that we can not help but cautioned that history never repeats itself but surprisingly, instead of indulging his imagination for the bull market, you might as Chen Chin-shih, the use of 51 holiday, re-read investment classic, filter out noise on the market, to clarify their own way of thinking. In view of this, this paper specially designed for readers to organize a group of articles is designed to provide readers with a fresh look at this market, the new coordinate system, from the investment in the Master's wisdom learned the power of reason to actively prepare for this round in the history of the most powerful bull market in .
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â–?18 years, 400 changing ownership Vanke 1.05 billion
Began in 2006 and continued since the stock market for investors who appreciate the red-to-riches feeling. They earn for their shareholders a cheering pours the same time, more attention to this a bull market began the biggest winner. Vanke's largest individual shareholder of Yuan-Sheng Liu, without exception, become the subject of most investors concerned about the people.
As of April 30 closing, Yuan-Sheng Liu Vanke non-tradable shares held by the value has reached 1.05 billion, which means that 18 years stand by Yuan-Sheng Liu received 240 times the rate of return, more than Warren Buffett holds " Washington Post "128 times earnings the stock for 30 years the most remarkable achievements. As Shanghai and Shenzhen, two cities "leading real estate stocks," the momentum is still very fierce Vanke.
The most interesting is the fact that, if not in January 2005 book "question Vanke," a book "stock reform vicissitudes of life" that "An entrepreneurial veterans today in the" first reference to "the birth of Vanke attributed to the hardwork and growth "and" Vanke's largest individual shareholder of Yuan-Sheng Liu, "perhaps Yuan-Sheng Liu is still a person who is not known to outsiders, a quietly standing behind Wanke, 18 years, is self-abandoned people.
It is understood that, as early as in the Shi-create Wanke ago, Yuan-Sheng Liu had his business partner had. By the end of 1988 a formal Vanke shares issued to the society. Yuan-Sheng Liu subscription with initial offerings and secondary market to buy shares at a total cost of about 400 million, after 18 years of stick, he received 240 times the rate of return.
Investment Classics
"Growth of an American Capitalist"
Author: Luo Jieluo Ravenstein
â–?Buffett capital to invest in a small number of long-term growth of enterprises
Yuan-Sheng Liu's success stories, as early as 1997, Luo Jieluo text written by Stan Warren Buffett biography, "an American capitalist growth" already revealed.
Buffett book traces the life, from birth to 11 years of age in 1930 to purchase stocks for the first time; from Columbia University and taught by a legendary figure, securities professor Benjamin Graham to 27 years old to create their own "empire", frankly record of Buffett from scratch, by engaging in stocks and business investment had gathered huge wealth, to become the 20th century, the world's richest. Luo Jieluo Lowenstein Buffett emotion get the amazing profits in the stock market --- the net proceeds of 9.7 billion U.S. dollars, but "not Zengzaoyuguo great risk, there has never been a loss year, it is really a miracle" --- "In the postwar United States, the main stock average yield of about 10%, Buffett has reached 28.6% of the level." The Luo Jieluo Lowenstein puts more emphasis on the unique nature of this achievement: it is the traditional long-term investment results. Luo Jieluo Lowenstein pointed out that the modern Wall Street financier of public funds by controlling the rich, and its core skills are at an appropriate time to buy and sell, but Buffett circumvented this game --- as an investor, Warren Buffett avoid the use of financial leverage, futures, dynamic hedging hedge, modern portfolio analysis, and other things developed by the academic community, with a different modern portfolio managers (the idea is that traders thought) Buffett will be a small number of corporate capital investment and long-term growth.
â–?long-term investment to create enthusiasm for Warren Buffett
"Wall Street Journal," a senior financial journalists Luo Jieluo Ravenstein recognized the success of Warren Buffett Warren Buffett as a good friend of Bill Gates on Buffett's comments, like --- "His enthusiasm for long-term investment." Luo Jieluo Lowenstein in his book took 80 years of last century visited Buffett's "investment fund of genius," Peter Buffett Toryncsy feeling to write a long-term investment: "Every Lynch Excluding the loss of a few weeks on the stock, while Buffett has for several years with the same few stocks, Lynch grief, as if revisit the past. "
Buffett's other motto reflects his enthusiasm for long-term investment: "You invest in the enterprise, even in the fool's management, should also be able to operate normally. Because someday a fool will understand." Book Buffett also wrote of how to do "long-term investment": This is like baseball, to hit the ball successfully, it must be swing, which may hit a strike, it may fail. When you Shouzhi ball, do not have to consider each and every one pitch. In other words, do not have time for each stock or investment opportunities are well aware of, if not buy some stocks while the appreciation of the fast, do not have to do sighed with regret, the lifetime, as long as a few good shots hit a 20 on the be sufficient, of course, To do so, to conduct a large number of analytical studies. Warren Buffett is such a personal, and when he invest in a company, always read the full annual report can be found to understand the company's developments and strategies. Once a company or companies to buy shares, and did not lost their desire to change hands.
Yuan-Sheng Liu's story, and Buffett's these stories seem to "coincide." From the "question Wanke" "An entrepreneurial veteran today in the" a text of 400 words on the Yuan-Sheng Liu a brief description, we can see that Yuan-Sheng Liu has been able to China Vanke stubbornly persists, 18 years, in addition to, and Shi-knot before creating Wanke Under the friendship, more likely is Wang Shi, and Vanke team understanding and trust. As a Hong Kong businessman, as early as Shi-create Wanke ago, they had a business partner. Shi-VCR to do business, is by Yuan-Sheng Liu, Hong Kong International Co., Ltd. supplies Japan amda supply. And this period saw the co-operation for LIU Yuan-sheng Wang Shi was different, and also let him stick for 18 years, although this one there is an "accidental" --- Shenzhen Stock Exchange was established in 1991, his stock because there is no change in the stock market into a standard be frozen, it can not be his objective reasons for the sale of shares.
Author
Luo Jieluo Lowenstein, "The Wall Street Journal" senior financial journalists, from 1989 to 1991 in charge of the stock column, "The Wall Street heard," Buffett is also a "long-term hold" investment theory beneficiaries. Berkshire Ha Saer --- The company is a company controlled by Buffett's long-term investors, the company Buffett's management, the 32-year period, the stock value has climbed by 7.60 U.S. dollars per share to 30,000 about.
Investment Quotations
â–?at the lowest price to buy the stock, and then be patient.
â–?Our investment principles are: Do not count on big business. If the price is low, even medium-businesses can be lucrative.
â–?you are invested enterprises under the management of even a fool, but also should be able to operate normally. Because someday a fool will understand.
â–?do not have time for each stock or investment opportunities are well aware of, if not buy some stocks while the appreciation of the fast, do not have to do sighed with regret, the lifetime, as long as a few good shots hit a 20 on the be sufficient, and of course, do so, to conduct a large number of analytical studies.
