這裏有一個公開秘密，一個關於中國房地產遊戲中的你知我知天知地知的暗語。那就是銀行於房地產業是一手托兩家：一邊給房地產開發商貸款，讓他們蓋房多多地蓋房，另一方面又給購房者按揭，讓他們買房買了再買。它們成為了供給的創造者，同時又是需求的創造者。那末，整個房地產的供給與需求大抵都由商業銀行出錢打造的，房地產市場就是它們自己導演的一場鬧劇。最近，有網友將中國特色的這種現象稱之為“狗咬自己尾巴”遊戲，算是入木三分。
No 1. "The key to investing is ..... determining the competitive advantage of any given company and, above all, the durability of that advantage. The products or services that have wide, sustainable moats around them are the ones that deliver rewards to investors."
No 2. "We believe this margin-of-safety principle, so strongly emphasized by Ben Graham, to be the cornerstone of investment success."
No 2. "We believe this margin-of-safety principle, so strongly emphasized by Ben Graham, to be the cornerstone of investment success."
看不懂英文？Can't Read Chinese?
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我的簡介 My Profile
- 小林同志 aka Comrade Littlewood
- 香港, Hong Kong
- 我叫小林。完成香港科技大學商學院碩士課程。主要興趣包括：向巴菲特，連治，費雪學習投資，並且向Murray Rothbard學習有關貨幣的歷史。
Thought of the Day
"When hamburgers go down in price, we sing the "Hallelujah Chorus" in the Buffett household. When hamburgers go up, we weep. For most people, it's the same way with everything in life, they will be buying--except stocks. When stocks go down and you can get more for your money, people don't like them anymore."
By Warren Buffett
當漢堡包的價格下跌，我們都頌唱哈利路亞。當漢堡包的價格上漲，我們就哭了。對於大部分人，生活裏的每件事都是在下跌時買---除了股票。當股價下跌代表你可以更少的金錢得到更多時，人們反而不再喜歡股票了！
---巴菲特
By Warren Buffett
當漢堡包的價格下跌，我們都頌唱哈利路亞。當漢堡包的價格上漲，我們就哭了。對於大部分人，生活裏的每件事都是在下跌時買---除了股票。當股價下跌代表你可以更少的金錢得到更多時，人們反而不再喜歡股票了！
---巴菲特
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2007
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- Greatest Quote of the Day
- 當心美國“資產毒垃圾”
- Carry Trade and a New Form of Financial Turbulence
- 今日佳句
- 房地產遊戲的公開秘密：銀行一手托買賣兩家
- 投資六部曲
- 下單前沉思兩分鐘
- 你具備股票投資成功所必需的個人素質嗎？Are You Equipped With the Perso...
- 2007巴非特致股東的信
- How to Detect Financial Defects
- The Hedge Fund Subprime Credit Crunch Explained
- Making Money the Warren Buffett Way
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