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ข้อคิดจากหนังสือ How to Pick Stocks Like Warrent Buffet
1 The real power of berkshire derives from its use of financial leverage, that is, the ability to invest amounts wall in excess of the company's capital base.
2 The forces that link price to value are inevitable and immutable. Over long time periods, earnings for Standard & Poor's (S&P) 500 companies cannot grow much faster than these companies's sales.
3 It is wrong -- and prequently risky -- to link past returns to the future.
4 Diversification is the bane of high returns. Great value-oriented investors such as Warren Buffet have no use for diversification. They are keenly aware that diversification poses no long-tern benefit to a portfolio and drags down potential returns.
5 The trick is to obtain the float as cheaply as possible, and no insurer has done that better than Berkshire Hathaway.
6 Unless an investment (a company or a stock) can be justified by mathematics, it should be ignored until the right combination of price and value exists.
7 Buffet tells investors that it's possible to obtain returns far in excess of the market -- whether the market rises 10% a year, 2% or 20%
8 If you can obtain even minor improvements over the market's return, you will generate staggering long-term results due to compounding.
9 Mathematics lies at the heart of virtually every evdeavor in which Warren Buffet engages.
10 Buffet detests rapid trading. To him, it is a money-wasting activity that usually leads to inferior returns for investors
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