[Reprint] "Buffett investment 36 meter" of ten: catch a thief caught King _meen

Original address: "Buffett investment 36 meter" of ten: catch a thief caught King author: Liu Jwrongful death attorneys floridaian __ Buffy "Buffett investment 36 meter" of ten: catch Thief caught 2011-01-24 Wang from: Shanghai Help Desk Tracking SoftwareSecurities News author: �� Liu Jian http://Fuapplication business card creditnd.cnstock.com/JJB/201101/1120788.htm originally: destroy it, claiming their internal transcribed spacers to alleviate it. Dragon wars in the wild, its poor. observation of the ancients said: attack to win the profits be taken. Min left, death benefits, and will be tired of, victims, and smart work. Wide meaning, when troubleshooting a problem, it is necessary to miss the crucial, grasp the main aspects of the conflict. Du Fu's poetry is to describe the most straightforward: draw a bow when a strong pull, with arrows when using long, shot people get shot, catch a thief caught King. 1, draw a bow when the pull strength: looking for superstar company with strong sustainable competitive advantage. Buffett on November 22, 1999 by Fortune magazine as the author pointed out: "for investment, the key is not to determine how big is the influence of an industry on the community, or the industry will grow, but to determine the competitive advantages of an enterprise of any choice, but, more importantly, determine the sustainability of this advantage. " Warren Buffett in 2000 compared to competitive moat on the general meeting of shareholders:" we like holding such castles: there is a wide moat, swim in the River is full of lots of sharks and crocodile, enough to resist external invaders. We believe that these enterprises is impossible leap Castle moat, and each year we have to further widening the moat of the Enterprise Manager, even if this does not increase the profit of the year. We believe that our company has a big and wide moat. " 2, when used with arrow length: seeking competitive advantage of the long-term sustainability of ten to 20 years of the company. in 1996 letter to shareholders, Warren Buffett said, "when our past investments in subsidiaries and shares, you will see major changes in our preference for those who are unlikely to companies and industries. We choose the reason is simple: affiliates and when any kind of investment in the shares of both, we are looking for we believe that in ten years from now or 20 years in fact certainly has a huge competitive enterprise. For those environments rapidly changing industry, although there may be huge success, but it excludes certainty we are looking for. " Buffett says he is eager to be" doomed "long-term competitive advantages of the enterprise:" in negotiable securities, we are looking for similar predictability sth Companies like Coca-Cola and Gillette are likely to be labelled ' doomed ' (TheInevitables) label sth Over the past 10 years, the two companies have significantly expanded their already very large market share, but all signs indicate that in the next 10 years they'll succeed. " " we focused on trying to find that under normal circumstances the next 10 years, or 15, or 20 years of business enterprises are predictable. " 3, shooting people get shot: first look at the business and management. management with business than business is fundamental. Businesses such as racing, management team rider. Horse racing can not, even the best riders in vain he craves. Buffett have a profound understanding: "excellent rider rode well with lightning speed immediately, while riding in declining old no matter how good the rider can do about it right away. Berkshire textiles business huoshicaierde Kong Han both run by able and honest managers to manage. Same managers if you manage a company with good economic prospects, will certainly achieve very good results. But they run a very poor prospects of the company, as in the sand, run, and how hard it was still difficult to half a step forward. As I have said many times, when one is known as a capable management team encounters a company that is known to deal in bad, ultimately is often available only to enterprise reputation intact. " will be implemented at that time if you have ACE, ACE riders match will certainly be invincible. Buffett's favorite company is the leading business and first-class management: "in the holdings to buy and when to buy stocks, we want to buy the target company not only to business excellence, also have extraordinary outstanding, clever Manager of competent, respected by others. " 4, catch a thief caught King: choose people who are unable to beat industry leading enterprises. Buffett discovered economic concessions (economicfranchise) is the key to continuing excess profit the enterprise: "the formation of an economic franchise, comes from a product or service with the following characteristics: (1) it is the needs of the customer or if you want to be, and (2) customers were identified as very similar alternatives cannot be found, and (3) are not subject to price control. These features exist, will translate into a company's ability to provide products and services for active to raise prices, so as to earn a higher Return on investment. " Buffett's testing economic concessions to very harsh:" economic concession to a company's true test method is: If you have an outstanding master of business administration, and that he has sufficient funds, then by him as a rival, he was able to bring to the business economic concessions what harm? " if you tried by all means do not lose, that's the real ACE enterprises, also tend to be leader in the industry, accounting for the largest market share. Must be capable of being. Buffett, 1993Annual letter to shareholders that Coca-Cola and Gillette is a model: "over the long term, Coca-Cola and Gillette to industry risk, or communications companies is much smaller than any computer company, Coca Cola 44% per cent of world beverage sales, Gillette has 60% 's razor market shares (in sales figures), in addition to the hegemony of Wrigley chewing gum company in the world, I fail to see how any company can be as long as they have members of global competitiveness. ��