Jesse. Livermore’s opinion on investment vs speculation is really to the point: speculators want possibilities, while investors want value.
Category: Investing Guru
The Charlie Munger Way-Key points from Munger Daily Journal’s 10 years of shareholder meetings
I spent several days and finished my reading of book The Charlie Munger Way, it’s a collection of all the transcripts of the Q&A of Munger Daily Journal (ticker: DJCO)’s sessions at shareholder meetings during his 10 years (2014-2023) Summarized my personal thoughts and ideas in the article you are reading now.
In the crowd, it’s impossible to think independently or keep sane
The crowd, groups of people, when clustered together, have a collective unconsciousness
Buffett’s 2025 Berkshire Shareholder Letter
The following is the internet link of Buffett’s 2025 Berkshire Shareholder Letter, including English version and Chinese version
Statistics can be deceiving
The most serious and most capable of changing statistical results is preconceived ideas “Shoot before set target”────because statistics and market surveys belong to more fields of non-science, and the mathematics and statistics involved in the middle are just tools . It is people who report and interpret in the end; as long as there are people, there will be prejudice.
Identify good companies with corporate culture, how to do in overheated market?
If the company you are tracking “seems” to be similar to a well-known listed company’s corporate culture that can bring huge benefits to investors, you should at least give it an extra point in your mind.
The crowd tend to lose their judgment and get lost
People get lost in market: Seeing is believing NOT exist in market, Markets are not rational, Academic hypothesis not refect the fact.
The larger the portfolio, the lower the return on investment will possibly be over decads
If you have a good memory, investors, have you ever thought about this: Why are most of the so-called investment celebrities who were once so glorious, had amazing return on investment, and were all over major print and electronic media, disappearing later? The reasons are here.
Complicated math is not a prerequisite in stock investing
Most people has a myth, complicated math play a key role to invest successful. Peter Lynch said “All the math you need in the stock market you get in the fourth grade.”
Apple repurchase, Buffett sold most of Apple stake,Nvidia capital operation, Tesla, AI bubble, Willow quantum chip
Peter read my post of Apple repurchase two days ago, inspired to write me a letter, raised several great questions and his concerns, I wrap up the feedback to him as this post.