Ideas
I.H.113.Right Business.Warren Buffett.Insurance and Gambling
互联网技术正在推动保险、预测、博彩行业朝着统一的方向变化，行业本来的界限开始变的模糊。 1、《2005-04-30 Berkshire Hathaway Annual Meeting》 WARREN BUFFETT: But, of course, insurance is a way to reduce volatility, and a perfectly proper way. I mean, if you pay $1,000 a year on your auto premiums ...
I.H.112.Right Business.Warren Buffett.Competition
很少有企业因为更多的竞争而变得更好，更值得关注的是什么招致大量的竞争。 1、《2006-05-06 Berkshire Hathaway Annual Meeting》 36. “Media businesses do not have a great outlook” “媒体行业的前景不太乐观” WARREN BUFFETT: Number 1. 沃伦·巴菲特：第一名。 AUDIENCE MEMBER: OK. First, my name is Egil Dahl. I’m a ...
I.H.401.Warren Buffett.How to read annual reports
重点关注两件事：业务的质量和管理的质量。 1、随时间积累有用信息的优势，而且，你只需要在某个时间点添加一些增量信息。 2、我们首先会看那些我们认为可以理解的公司报告（以我们能够理解的语言交流时，这确实会增强我们对投资该业务的信心），如果我们读到的是一堆公关套话，充满了图片却没有事实，这会对我们对该业务的态度产生一些影响。 ...
I.H.218.Right People.Warren Buffett.A lot of cash and the guts
有钱有胆量。 1、《2007-05-05 Berkshire Hathaway Annual Meeting》 24. Easy decision: stocks over bonds 简单的决定：股票优于债券 WARREN BUFFETT: Number 6. 沃伦·巴菲特：第六位。 AUDIENCE MEMBER: Good morning, Warren and Charlie. My name is Frank Martin from Elkhart, Indiana. I’m a ...
I.H.111.Right Business.Warren Buffett.Private Equity
不是这个行业的人不想做好，而是所面对的客户自己不想做好，乌央央的白痴不想思考，这跟电视肥皂剧很像，不是导演、编剧不想做出好的产品，而是观众打心里想看烂片，大众在面对金钱和现实时下意识的想要关闭自己的大脑。 1、《1964-07-08 Warren Buffett's Letters to Limited Partners》 These figures continue to show that the most highly paid and respected investment ...
I.H.109.Right Business.Warren Buffett.Cyclical Businesses
1、《2011-04-30 Berkshire Hathaway Annual Meeting》 But those are good businesses. And as I mentioned in the annual report, we bought the largest brick operation in Alabama. And I think Alabama uses more brick per capita than any state in the union, but ...
I.H.108.Right Business.Steve Jobs.App Store
Apple recently marked the 10th anniversary of the App Store—its online vehicle for distributing iPhone and iPad applications—with a retrospective on its website, noting that developers have earned more than $100 billion through the store over its ...
I.H.304.Right Price.Warren Buffett.Think about worst cases
1、《2012-05-05 Berkshire Hathaway Annual Meeting》 55. No magic formula for calculating risk 计算风险没有魔法公式 WARREN BUFFETT: Becky? 沃伦·巴菲特：贝基？ BECKY QUICK: This question comes from Scott Bondurant who is from Chicago, Illinois, and he’s a shareholder. ...
I.H.107.Right Business.George Mecherle.State Farm
1、《The Founder from Merna》 一、Warren Buffett And yet in his 2000 letter to shareholders, he lamented that it was lagging behind a juggernaut of American capitalism: State Farm, now a $131bn company. In Buffett’s words: 然而，在他 2000 ...
I.H.207.Right People.Warren Buffett.Circle Of Competence
如果你对某件事是否属于你的能力圈感到怀疑，那么它就不属于。 1、《2002-05-04 Berkshire Hathaway Annual Meeting》 48. How to stay in your “circle of competence” 如何保持在自己的“能力圈”内 WARREN BUFFETT: What was the first question again that — 沃伦·巴菲特：第一个问题是什么来着—— AUDIENCE MEMBER: It was how a ...
I.H.105.Right Business.Warren Buffett.Real Estate Agent
1、《1992 Steve Jobs.MIT Distinguished Speaker Series》 A software-only company could never afford to field a direct sales force. With average selling prices of $500 a software package, you could never afford 130 professionals in the field. With an ...
I.H.301.Right Price.Warren Buffett.Mr.Market
市场波动在数学上是幂律分布，很难预测，只能根据每个当下判断价格和价值的关系。 1、《1999-05-03 Berkshire Hathaway Annual Meeting》 42. Japan’s economic slump doesn’t affect Berkshire 日本的经济低迷不会影响伯克希尔 WARREN BUFFETT: Zone 5. (Laughter) 沃伦·巴菲特： 第五区域。（笑声） AUDIENCE MEMBER: Good morning. My name is ...
I.H.104.Right Business.Eric Schmidt.TikTok as Television
关闭大脑的注意力市场是个充满戏剧性的领域，没有人能获得长期的成功。 一、Eric Schmidt 1、《2024-08-14 Eric Schmidt.The Age of AI》 Eric：And my conclusion is the CEOs in general are maximizing revenue. Eric：我的结论是，总的来说，CEO们都在努力最大化收入。 To maximize revenue, you maximize engagement. ...
I.H.103.Right Business.Warren Buffett.FDIC
Refer To：《2020-05-02 Berkshire Hathaway Annual Meeting》。 10. FDIC: “A very, very, very good thing” FDIC：“非常非常非常好的事情” WARREN BUFFETT: One of the things, as I look back on that period is — and I don’t think economists, generally, like to give it that ...
I.H.102.Right Business.Warren Buffett.Consumer Products
有些消费品包含潜藏在大众心智中的资产。 1、《1997-05-05 Berkshire Hathaway Annual Meeting》 51. “It’s not share of market. It’s share of mind that counts” “重要的不是市场份额，而是心智份额” WARREN BUFFETT: Zone 1 again. 沃伦·巴菲特： 再次到第一区。 AUDIENCE MEMBER: Mike Assail (PH) from New York City. ...
I.H.303.Right Price.Warren Buffett.Cost Of Capital
1、《2014-05-03 Berkshire Hathaway Annual Meeting》 14. Everyone else is wrong on cost of capital 其他人对资本成本的看法都是错误的 WARREN BUFFETT: OK. Gregg Warren of Morningstar. Gregg, welcome. 沃伦·巴菲特：好的。晨星的格雷格·沃伦。格雷格，欢迎。 GREGG WARREN: Thank you. Warren and Charlie, ...
I.H.205.Right People.Warren Buffett.Wrong Incentives
错误激励是噪音的一种。 1、《2015-05-02 Berkshire Hathaway Annual Meeting》 31. Lessons on hidden incentives from Teledyne’s Henry Singleton 来自Teledyne的亨利·辛格尔顿的隐性激励课程 WARREN BUFFETT: OK. Station 7. 沃伦·巴菲特：好的。第七站。 AUDIENCE MEMBER: Hi. My name is Dan Hutner from ...
I.H.101.Right Business.Warren Buffett.Pattern Recognition
投资决策中90%的定性分析（约等于模式识别：pattern recognition），很多事物都有相同的本质，以及相同的发展轨迹。 1、《1997-05-05 Berkshire Hathaway Annual Meeting》 32. Just takes 5 minutes to know if we’re interested in a company 只需 5 分钟即可知道我们是否对一家公司感兴趣 WARREN BUFFETT: The five minute test is a — ...
I.H.208.Right People.Warren Buffett.Quality Decision
为什么对某件事感兴趣的大前提应该占到 80% 左右，我们没有能力追逐每一个想法，所以应该事先要有一个强有力的假设。 1、《1962-01-24 Warren Buffett's Letters to Limited Partners》 The Question of Conservatism 关于保守 The above description of our various areas of operation may provide some clues as to how ...
I.H.138.Right Business.Warren Buffett.Floats
Refer To：《Flirting with Floats》。 Posted on July 9, 2012 by fundooprofessor There is a company which has the world’s strangest bond outstanding. Strange, because this bond has no maturity date. Stranger, because the bond issuer pays no interest on it. ...
I.H.146.Right Business.Warren Buffett.Blue Chip Stamps
1、《Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger》 I've accused Father of being negative. He has a buoyant, cheerful upside, but also a negative side. He said, "No, no, I'm not negative. I jump like a little trout ...
I.H.215.Right People.Warren Buffett.A Word About Par and Feedback Mechanism
尽可能早的形成记录。 1、《1962-01-24 Warren Buffett's Letters to Limited Partners》 A Word About Par 关于衡量标准 The outstanding item of importance in my selection of partners, as well as in my subsequent relations with them, has been the determination that we use the ...