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<blockquote>There seems to be some perverse human characteristic that likes to make easy things difficult.<ref name=":0">[https://www8.gsb.columbia.edu/articles/columbia-business/superinvestors Superinvestors of Graham- and Doddsville], auch hier lokal vorhanden unter [[Superinvestors of Graham-and-Doddsville]]</ref></blockquote><blockquote>This is truly Alice in Wonderland. I have never been able to figure out why it’s riskier to buy $400 million worth of properties for $40 million than $80 million. And, as a matter of fact, if you buy a group of such securities and you know anything at all about business valuation, there is essentially no risk in buying $400 million for $80 million<ref name=":0" /></blockquote><blockquote>It is extraordinary to me that the idea of buying dollar bills for 40 cents takes immediately to people or it doesn’t take at all. It’s like an inoculation. If it doesn’t grab a person right away, I find that you can talk to him for years and show him records, and it doesn’t make any difference. They just don’t seem able to grasp the concept, simple as it is. A fellow like Rick Guerin, who had no formal education in business, understands immediately the value approach to investing and he’s applying it five minutes later. I’ve never seen anyone who became a gradual convert over a ten-year period to this approach. It doesn’t seem to be a matter of IQ or academic training. It’s instant recognition, or it is nothing.<ref name=":0" /></blockquote> | <blockquote>There seems to be some perverse human characteristic that likes to make easy things difficult.<ref name=":0">[https://www8.gsb.columbia.edu/articles/columbia-business/superinvestors Superinvestors of Graham- and Doddsville], auch hier lokal vorhanden unter [[Superinvestors of Graham-and-Doddsville]]</ref></blockquote><blockquote>This is truly Alice in Wonderland. I have never been able to figure out why it’s riskier to buy $400 million worth of properties for $40 million than $80 million. And, as a matter of fact, if you buy a group of such securities and you know anything at all about business valuation, there is essentially no risk in buying $400 million for $80 million<ref name=":0" /></blockquote><blockquote>It is extraordinary to me that the idea of buying dollar bills for 40 cents takes immediately to people or it doesn’t take at all. It’s like an inoculation. If it doesn’t grab a person right away, I find that you can talk to him for years and show him records, and it doesn’t make any difference. They just don’t seem able to grasp the concept, simple as it is. A fellow like Rick Guerin, who had no formal education in business, understands immediately the value approach to investing and he’s applying it five minutes later. I’ve never seen anyone who became a gradual convert over a ten-year period to this approach. It doesn’t seem to be a matter of IQ or academic training. It’s instant recognition, or it is nothing.<ref name=":0" /></blockquote> | ||
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Version vom 18. Februar 2022, 18:51 Uhr
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Warren Buffett
There seems to be some perverse human characteristic that likes to make easy things difficult.[1]
This is truly Alice in Wonderland. I have never been able to figure out why it’s riskier to buy $400 million worth of properties for $40 million than $80 million. And, as a matter of fact, if you buy a group of such securities and you know anything at all about business valuation, there is essentially no risk in buying $400 million for $80 million[1]
It is extraordinary to me that the idea of buying dollar bills for 40 cents takes immediately to people or it doesn’t take at all. It’s like an inoculation. If it doesn’t grab a person right away, I find that you can talk to him for years and show him records, and it doesn’t make any difference. They just don’t seem able to grasp the concept, simple as it is. A fellow like Rick Guerin, who had no formal education in business, understands immediately the value approach to investing and he’s applying it five minutes later. I’ve never seen anyone who became a gradual convert over a ten-year period to this approach. It doesn’t seem to be a matter of IQ or academic training. It’s instant recognition, or it is nothing.[1]
Quellen
- ↑ 1,0 1,1 1,2 Superinvestors of Graham- and Doddsville, auch hier lokal vorhanden unter Superinvestors of Graham-and-Doddsville