Category: Money Tips Date: 2006-10-17
Buffett recently released a letter to shareholders, Berkshire summed up in the past in 2005 the investment success and failure. In which there is a loss of up to 404 million U.S. dollars worth to investors.
Years ago, Buffett bought Gen Re reinsurance companies, Buffett knows its derivatives trading business is a big trouble. But Buffett want to sell may not hurt to lose, to get away, resulting ultimately ended in failure, but more deals during this period lead to greater losses, so Buffett's bitter to admit a serious mistake on their own indecision, when the When a problem occurs, either in life or business, the action is to get the best time to stop.
I did side with the operation of futures investors have thousands of people, and now most of them to change jobs, and some go to liquor, and some went to the spot to do, and some to sell insurance, and some time ago also met together in one big room friends an auction house to work in an investment only a few are still around.
In my first four years of operation of the futures time, and the ups and downs, like many investors enjoy a number of huge profits, two weeks 60% of profits, a profit of more than 300 million later, the same position has also experienced several storms in one month loss by 90%, or even two weeks storm positions. Has also borrowed money from friends, a few Shigekura transaction, in addition to their own my money, but also owe a debt, from car and home to more than 90 square meters of three hall, moved to 10 square wooden room, the father's birthday is no money to buy him a gift the elderly.
In my most difficult time to be elegant guidance, learning of his 30 years of investment experience, and understanding of the futures market first is to go through the control of a good risk, low-risk species first choice operation, when you can stabilize the profit, the form Profit models and tools only after the gradual increase in funding. Since then I have become a very cautious investors in the high-risk species such as coffee, copper, rubber varieties to try not to operate, but stable operation of soybeans, wheat, gradually grasp the characteristics of the futures market, testing a variety of successful profit model and eventually became the winner in the futures market.
Successful people in the futures market is only 3%, I have studied dozens of futures, stocks top master's success stories, they all have one common, that is, with particular attention to risk control. Commonality that all successful people must abide by the principle, so you want to become a successful investor will definitely follow the "risk control" principle.
"Speculative God," Soros short-selling in 1992 when the 10 billion U.S. dollars of pounds a week after the pound plunged, Soros a profit two billion U.S. dollars a week. Quantum fund of funds at that time only 10 billion dollars. Soros was sitting in a building located in Manhattan, his 38th floor office overlooking Central Park. He's convinced that Britain will soon be out of exchange rate mechanism. Many investors see that George Soros to take the risk of financing such a large short-selling pounds 10 times, but investors do not know that Soros is doing the transaction, has been measured in this exchange to take the biggest risks, Soros said: "In the worst-case scenario, I am the same interest rate to repay my loan, then I only lost 4 percent, the size of this risk." According to the linked exchange rate pounds in Europe, the provisions of the mark and other currencies must maintain a fixed exchange rate can not open up, meaning to say, George Soros, once operational errors, at most 4% of the fixed exchange rate to take the risk of upper limit, that claim Ross, a total investment of pounds short of this limit the risk of 4%.
I invested in futures 10 years, found that 80% of investors are due to a loss of control in the absence of a good risk for this. The main reason is that the transaction had not set the risk management's bottom line. I am 97 years of trading in the futures company to manage my staff, I do training for investors, I suggest that each transaction in addition to doing a good job before the profit objectives, expected plans, as well as a loss how to deal with plans to do a good job. At that time listening to one investor said: "I just want to make money to invest in futures, and Why the old thinking to stop, to lose money do ah?" The reason why, when the market trend did not follow the direction of their vision go, they become helpless, the greater the loss of more care, the last storm warehouse appearance.
In the October 19, 1987 the day before the stock market collapse, Soros Quantum Fund, Stanley, chief fund manager德拉肯米勒incredible mistake committed by the total shares short to do more than 130% of the total stock, But in the end of the month, when he earned, and why? When he realized his mistake, he is on October 19 the first hour after the market opened decisively long positions in all levels of the warehouse, and the backhand short. If the Stanley德拉肯米勒was some small-minded, in order to retain their face, the face of the evidence and has remained unfavorable to their original positions, or delay the wait, hoping to see whether the market would recover, he will suffered huge losses. I own a computer disk close to the manipulator George Soros, and德拉肯米勒portraits, in my face over non-Jew must Quotes reminded me of the time. In the May 13, 2005 copper as I?【train rail system, 29.94 thousand yuan / ton issued a sell signal, but the June 3 again increased to 30.32 thousand yuan / ton issued a stop-loss buy signal. Many investors would like to bronze had already risen more than 8,000 points, and will not rise about the bar!
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I look at the portraits of George Soros and德拉肯米勒think: In the only receptive to the truth of suffering, and without hesitation, the ability to respond resolutely, this is a great sign of investors. I flat-out determined in accordance with all the short track?【train signal system after the backhand stop buying, take profits after the rise in the back of copper, or copper to take a look now 60,000 yuan / ton, the futures market is anything could happen Local ah.
