Daily Productive Sharing 697 - Old Books

Dr Selfie -

One helpful tip per day:)

Ted Lamade read some classical books, and pointed out:

  1. Failing to learn from others’ mistakes is one of life’s greatest mysteries.
  2. When an entire industry is in a crisis, with two or three major companies bankrupt or on the verge of it, the whole industry is ready for a bounce.
  3. Each time a new product or style of investing has arisen, the early returns for investors (and Wall Street) have typically been very strong.
  4. The biggest problem in business is ego.
  5. Anytime you find someone selling research or providing a service that generates commissions, you should think about this quote.
  6. Intense competition kills returns. It’s why the strongest and most durable returns are often made in unsexy, uncovered, and uninteresting industries.
  7. I can’t believe how many people own stocks that they couldn’t explain to an eleven year old in two minutes or less why they own it or what it is.

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Ted Lamade 回顾了很多经典书籍，指出，这些书中的很多道理至今有用：

  1. 不能从别人的错误中学习是最大的谜团之一。
  2. 当整个行业出现危机，有两三家主要公司破产或濒临破产时，整个行业都准备好反弹了。
  3. 每次出现新产品或投资方式时，投资者（和华尔街）的早期回报通常非常强劲。
  4. 商业中最大的问题是自负。
  5. 每当你发现有人在销售研究或提供会产生佣金的服务时，你应该想到这句话。
  6. 激烈的竞争会破坏回报。这就是为什么最强大和最持久的回报通常在无趣、不起眼的行业中。
  7. 有多少人拥有自己股票，却无法在两分钟内向十一岁的孩子解释为什么持有这一股票。

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