第八讲 证 券投资基本分析.pptVIP

巴菲特的投资哲学 ——The philosophy of value-based investing 1.Economic reality, not accounting reality. 2.The cost of the lost opportunity. 3.Value creation: time is money. 4.Measure performance by gain in intrinsic value, not accounting profit. 5.On diversification. Buffett disagreed with conventional wisdom that investors should hold a broad portfolio of stocks in order to shed company-specific risk. 6. Investing behavior should be driven by information, analysis, and self-discipline, not by emotion or “hunch”. “We simply attempt to be fearful when others are greedy and to be greedy o