原则是什么意思|什么是原则?( 二 )


1960年,股票市场很繁荣,很多人参与其中,特别是我做球童时服务的那些人,我开始投资,我买的第一支股票是东北航空这家公司,这是我当时知道的唯一一家每股小于5元钱的公司,所以我能买更多数量的股票,我相信这是好事 。它涨了很多,这家公司即将破产,被另一家公司收购,从而涨了三倍,很幸运,我赚到了钱,但赚钱没有相继发生,我开始觉得这个游戏很容易,有成百上千的公司被列在报纸上,找到一支上涨的股票很困难吗?通过比较,我觉得还是这种赚钱方式有趣、容易,有利可图 。当然,没过多久我就亏钱了,选对股票很困难,选错了的代价就更高了 。
So what I really wanted to do now was beat the market. I just had to figure out how to do it.
所以,现在我真的想去做的是打败市场,我必须搞明白怎样去做 。

【原则是什么意思|什么是原则?】

The pursuit of this goal taught me:
对目标的渴望教会了我一些事情:
1) It isn't easy for me to be confident that my opinions are right. In the markets, you can do ahuge amount of work and still be wrong.
1)坚持认为自己观点正确很不容易,在股市里,你可能做了很多但依然错误 。
2) Bad opinions can be very costly. Most people come up with opinions and there’s no cost to them. Not so in the market. This is why I have learned to be cautious. No matter how hard I work, I really can’t be sure.
糟糕的意见成本很高,大多数给意见的人,其实不承担任何成本 。股市不是这样,我学会了谨慎,无论我工作多么努力,我都无法确定市场走向 。
3) The consensus is often wrong, so I have to be an independent thinker. To make any money,you have to be right when they’re wrong.
共识通常是错的,所以我必须变成一个独立思考者,为了赚钱,你必须做到,当别人错误时,你正确 。
3.1) I worked for what I wanted, not for what others wanted me to do. For that reason, I never feltthat I had to do anything. All the work I ever did was just what I needed to do to get what I wanted. Since I always had the prerogative to strive for what I wanted, I never felt forced to do anything.
我做我想要的工作,而不是其他人要我做的工作,因为这个理由,我做事情从没有必须做的,我曾做的所有工作都是我需要做的和得到我想要的 。我总是有特权为了我想要的而努力 。我从不被强迫做任何事 。
3.2) I came up with the best independent opinions I could muster to get what I wanted.For example, when I wanted to make money in the markets, I knew that I had to learn about companies to assess the attractiveness of their stocks. At the time, Fortune magazine had a little tear- out coupon that you could mail in to get the annual reports of any companies on the Fortune 500, for free. So 百思特网I ordered all the annual reports and worked my way through the most interesting ones and formed opinions about which companies were exciting.
我把能得到的最好的、最独立的观点汇总到一起,当我想在股市中赚钱,我必须了解这家公司,然后评估这家公司股票的吸引力 。那时,财富杂志有一些优惠券,你能通过邮件免费得到任何财富500强公司年报 。所以,我订阅了所有的年报,找到最有趣的公司,提出自己的观点,找到有吸引力的公司 。
The way I learn is to immerse myself in something, which prompts questions, which I answer, prompting more questions, until I reach a conclusion.
我学习的一种方式是沉浸在自己的事情中,提出问题,自己回答,进而提出更多问题,直到得出结论 。
3.3) I stress-tested my opinions by having the smartest people I could find challenge them so I could find out where I was wrong. I never cared much about others’ conclusions—only forthe reasoning that led to these conclusions. That reasoning had to make sense to me. Through this process, I improved my chances of being right, and I learned a lot from a lot of great people.
我找到那些最聪明的人,把我的观点给他们,进行压力测试,以便我能知道我哪错了,我百思特网从不理会别人给的结论,而是观察这些结论的推理过程,这些推理过程对我有意义,通过这一过程,我让自己变得更好,我从很多伟大的人身上学到了很多 。
This included my retail stockbroker, the people I was caddying for, even my local barber, who was equally engrossed in the stock market. (It wasn’t as precocious as it sounds. At the time, instead of talking about the Yankees, everyone was talking about stocks. That was the world I grew up in.)