People usually believe that it is difficult to run a small business into a large one, but it is easy to choose the future GM from 2,000 small car companies. Investors obviously conclude that it is easier to make money by investing than by running. However, in fact, selection is as difficult as operation, but the same difficulty is covered up by easy processes and methods. What is mentioned here is making money through selection (stock investment). Munger once said a brilliant statement: You have to remember that most small businesses never become big businesses, and likewise, most big businesses become medium or worse. So it's a tough race, and all the competitors die. We only caught one small business opportunity that became big, and that was the reinsurance business. Most of our money was made in undervalued big businesses. It is a low-probability event for a small business to become a big business. This is a question that investors chasing growth and hot spots should think about calmly. Seth Klarman Quote: Investment booms are not business trends. September 25, 2010: Therefore, growth investment methods are not very useful in the secondary market! Even in the primary market, the VC PE model also adopts a broad-based approach! Suitable for PE, filmmaking, and sports, most of which belong to the field of positive black swans. As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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