Les principes de base de the intelligent investor deutsch
Les principes de base de the intelligent investor deutsch
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This approach aims to capitalize nous-mêmes short-term market inefficiencies and enhance returns while managing risk.
To Supposé que very honest up fronton, this is not the easiest read. It is written by a 20th century economist and quite frankly it often reads just like that. Délicat to that commentaire one should not pick this book up conscience humor and entertainment as much as he should to learn. Although there will be times when you will find yourself laughing pépite smiling at some of the stories told and how they cirque true even today in our ever more sophisticated world.
Despite the success of Buffett Partnership, its founder dissolved the firm in 1969 to focus je the development of Berkshire Hathaway. He phased démodé its Filature manufacturing division, instead expanding the company by buying assets in media (
1) Your dextre goal should Supposé que to not LOSE money; so understand the diversification between 'investing' and 'speculating,' and understand that most so-called investors are actually speculators. Minimize the extent to which you are a speculator. If you go in trying to get rich quick, you'll lose.
Use historical data to establish benchmarks, noting the catégorie of values connaissance the data, and what happened to asset prices when extreme values occurred. Expérience example, if trading Coutumes stocks and monitoring US interest rates, annotation what happens to stock catalogue prices when interest rates fluctuate.
Stock market bicyclette can last several years, whereas interest rate cycles and commodity vélo can last decades. Therefore, spotting a trend early can mean that you can supériorité from that trend conscience years to come, if successful.
The postscript uses Graham's own experience with GEICO — joli anonymously — as an example of how Je investment can sometimes outperform all others in a short period of time. Joli again, Graham advises his readers that such opportunities usually only come to those with the requisite knowledge, experience and art.
The defensive investor does this, then puts new money in every month and checks nous the ratios of his/her portfolio ever quarter or six months to make sure its still balanced (hypothetically lets say 60% stocks 40% bonds) this reduces drifting and ensures longitudinal term revenue, even if it's not the absolute highest one can earn it's still consistent and certaine.
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There is no discretion here. The strategy defines exactly what to do based on the data repère provided. Such strategies are typically based je historical backtesting pépite hypothetical models/predictions.
لكم وددت أن أقص عليكم قصتي مع هذا الكتاب المستوفي لشروط العبقرية
• common stocks of "leading" pépite "prominent" Coutumes companies (blue Chip), purchased at a reasonable price based nous historical data
It's possible that he thinks Berkshire stock is expensive. It's currently trading at a fraction below its all-time high, and the company was even a member of the the intelligent investor audiobook $1 trillion groupe earlier this month before a modest pullback. Plus, Berkshire's price-to-malpropre pourcentage is currently 2.
Graham also elaborates nous the new types of manipulation taking place in the markets after those of the last generation were made illegal.