Warren Buffett befektetési tanácsai 2. rész [Előadás]

Az alábbiakban Warren Buffett legfontosabb befektetési tanácsait tekintjük át.  Előadásunk második részében a következő idézetek lényegét, értelmezését tekintjük át:
12. "The three most important words in investing are margin of safety.”
13. “On the margin of safety, which means, don’t try and drive a 9,800-pound truck over a bridge that says it’s, you know, capacity: 10,000 pounds. But go down the road a little bit and find one that says, capacity: 15,000 pounds.”
14. “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.”
15. “If a business does well, the stock eventually follows.”
16. “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
17. “I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.”
18. “All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.”
19. “It is a terrible mistake for investors with long-term horizons — among them pension funds, college endowments, and savings-minded individuals — to measure their investment ‘risk’ by their portfolio’s ratio of bonds to stocks.”
20. “Successful investing takes time, discipline, and patience. No matter how great the talent or effort, some things just take time: You can’t produce a baby in one month by getting nine women pregnant.”
 21.   “Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.”
 22.   “The stock market is designed to transfer money from the active to the patient.”
23. “If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.”
24. “Our favorite holding period is forever.”
25. An investor should act as though he had a lifetime decision card with just twenty punches on it.”
26. “Do not take yearly results too seriously. Instead, focus on four or five-year averages.”
27. “The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.”
28. “There seems to be some perverse human characteristic that likes to make easy things difficult.”
29. “Success in investing doesn’t correlate with IQ.
30. “You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.”
31. “There is nothing wrong with a ‘know nothing’ investor who realizes it. The problem is when you are a ‘know nothing’ investor but you think you know something.”
32. “Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.”