Buffett doesn't understand blockchain
The former richest man in the United States and the world, Warren Buffett, recently expressed his views on cryptocurrency at a general meeting of shareholders
"not everything is called investment. You pay attention to the investment itself and the value it proces, such as a house, an enterprise or even a farm. These are called investments because they generate added value. But digital currency and bitcoin are not. They don't proce any additional things. They are also virtual. Rather than investing in them, you hope that the next order will come soon. It's speculation, that's gambling. "
" I started buying stocks at the age of 11, stock market crash, technology bubble, bear market and financial crisis, all of which I have experienced. I don't know when and why the bad results will happen, but what I know is that I won't invest in bitcoin. In the future, bitcoin may become a situation that all investors do not want to see. "
Warren Buffett really has his own unique view. When American blue chip companies and IBM began to accept blockchain and develop it, multi gold Warren Buffett still didn't buy this encryption technology. Of course, he has been singing down bitcoin more than once. On many public occasions, Buffett has been expressing his idea of not looking at bitcoin
in fact, considering the short position explosion of 460000 bitcoin by a well-known trading platform before, what Buffett said is not unreasonable
the biggest slogan of bitcoin is nothing more than" decentralization ", but in the end, it still has to rely on the [centralized] currency exchange. As a result, it has been teased and become leeks to be cut
I think blockchain may change the world, but it is definitely not used in cryptocurrency such as bitcoin
there should be key settings over there
but one of the chain mining presets I know seems to press v
In an interview with Yahoo Finance in Nebraska, Buffett once again despised digital currency investment, saying that "buying bitcoin is not an investment"
According to Buffett, people usually buy two kinds of things, one is a real investment, the other is not. Bitcoin belongs to the latterBuffett believes that when buying cryptocurrency, it is not investment but speculation“ There's nothing wrong with that. If you want to gamble, someone will come tomorrow and be willing to pay more. This is a kind of gambling. It's not an investment. "
this is not the first time that Buffett has lashed out at bitcoin and the virtual money market. In January 2018, Buffett predicted that cryptocurrency would definitely have a "bad ending"< At that time, Buffett said in an interview: "I don't know when and how the bad results will happen, but what I know is that if I am asked to buy long-term put options, I will buy five-year put options for each cryptocurrency. I'll be happy to do that, but I won't invest a dime in it. "< In the end, Buffett concluded that cryptocurrency is a decent business, but what is happening will eventually become a bad ending that everyone can see
from: surging news
agree with Buffett's point of view
because Warren Buffett's money is also used for charity, or because he has something to do.
When the enthusiasm of the market subsides, you will know which are good stocks and which are junk stocks
when the short-term irrational market factors (too optimistic or too pessimistic) recede, investors will see what companies are really worthy of investment and what companies are just some market speculation
the investment behavior is that only when the market falls sharply do you know who is speculating and who is investing; You can also reflect people. Don't look at so many voices in the market. After the market is confirmed, you will know who are cheating and who are actually telling the truth
extended materials
anecdote of Warren Buffet:
< P >
many people believe that French wine is the best in the world. Mr. Buffett is skeptical. At a dinner party, the host took out a bottle of red wine and said: This is the most expensive wine in France. The price is very expensive. Mr. buffet was specially invited to taste it
Buffett put his hand on the glass and said, "thank you. You don't need to pour me wine. You'd better give me money." Warren Buffett is soberly aware that the main reason for the high price of these rare wines is to rely on the intangible things of brand reputation
In his investment, Buffett has graally realized that the key to those companies with high profitability is not the tangible assets they own, but the intangible assetsyou go to buy Liu Jianwei's & lt; Buffett's stock investment strategy & gt; Let's see, there are some cases of Buffett buying stocks, among which there is a question about the calculation of discounted cash flow. I should be able to find the answer to the first question you mentioned.
I'm constantly thinking about the calculation of discounted cash flow, and there are still many places I can't figure out. Maybe my level hasn't reached yet
the second problem is that you don't have a thorough and comprehensive understanding of things. First of all, you don't have to make profits through the price difference when you invest in stocks. The annual dividend is a very good income. Secondly, the insurance company owned by Warren Buffett has a large amount of premium income, which is under his unified command, It's the main source of the huge amount of cash he holds in his hands. In fact, if you think about Ping An of China, the money from Ping An of China goes to buy a 50% stake in Fortis asset management, which is the same reason.
the third problem is that Warren Buffett didn't take the path of value investment at the beginning, but he has drawn a K-line chart for ten years, In the end, I think this kind of thing is not my own good and give up.
about how to calculate the intrinsic value of stocks, I found an excerpt. After reading it, you will understand that you can't know the result by asking questions on the Internet instead of your own study and thinking. The contents are as follows:
at the 2007 Berkshire general meeting, An investor from Munich asked Warren Buffett in the second question area, "can you enlighten us how we determine the intrinsic value when we invest? What kind of quantitative method do you use? " Buffett humorously replied: "I understand your question, but pretend I don't understand. Charlie will answer it." Munger replied: "there is no simple way to try to determine intrinsic value, safety margin, etc. you need a multiple method, I don't think you can become a good investor faster than you can become a bird expert. "
when I understand that there are no answers to such questions, from a year to a generation or more, The philosophical system of thinking is totally different... Everyone's answer completely depends on his own talent and the limit of his thought...
the above passage is taken from Dan Bin's & lt; Rose of time & gt; Page 91, if you are interested, you can take a closer look.
for some of my friends' opinions and opinions, I also talk about my own views. First of all, it is not that he understands that Warren Buffett does not invest in high-tech stocks. On the contrary, he does not invest in high-tech stocks because he does not understand it. This is also a proof that he has always stressed that investors should only make decisions in their own ability circle.
also, In fact, it is not appropriate to say that China is not suitable for value investment. There are also investors like Warren Buffet in China. The most famous one is Liu Yuansheng, the shareholder of Vanke, who spent 17 years to increase the value of more than 4 million yuan's investment to more than 1.6 billion yuan. I'm afraid no one can believe this, but it's a fact.
also, some people think that if you buy stocks, just put them aside and ignore them, This is value investment. In fact, it is also a misunderstanding. If someone holds Vanke and Shenzhen Development Co., Ltd. at the same time in 1991, the income is very different, let alone if the holding company withdraws from the market, it will be a waste of money.
in fact, Buffett's investment philosophy is very rich in connotation, which can not be explained in a few words. I didn't want to answer this question originally, Because I can't answer the landlord's question about the calculation of cash flow discount accurately, but I feel uncomfortable after reading some friends' answers. Let's just say a few sentences.
one of the above friends is quite right, and Warren Buffett's theory is not suitable for everyone.
therefore, there is only one stock god.
the long-term rule of profit and loss of the stock market is that 70% of people lose money, 20% keep their capital and 10% make profits; Because truth is always in the hands of only a few people.
if you are interested, you can buy Dan Bin's & lt; Rose of time & gt; Look, there are also some different views on Buffett, including the question of whether China is suitable for value investment. Work hard!