Buffett since many years admitted he did change some of the “rules” he learned from Graham, and, most of all, he added new principles and concepts to investing, or better, to finding super-wonderful businesses. But you can’t really understand easily Buffett or Munger without having in mind the lessons of Graham before. Without studying and…
I was born september 15th 1976, 6 days later Ben Graham died, age 82. Graham still is, as he was, modern and old-fashioned at the same time. He reminds me of an italian quote :”Torniamo al passato, sarà un progresso”! that is “Let’s go back to the past, it will be a progress”! Especially when…
Many investors are acting on the stock market basing their decisions upon looking or thinking about what the others will do. And so it goes the same old story. “Let’s sell before they sell” they say.. Mr. Market is repeating himself, as the human nature always does historically, being what it is. Driven too much…
Non c’è nulla di sbagliato nel pensare in grande e nel credere in se’ stessi. Ho imparato cosi’ tanto da Buffett e ho lasciato che molti suoi consigli siano parte di me, che non ricordo nemmeno piu’ dove e quando ho sentito da lui per la prima volta frasi che sono diventate parte della mia…
The world doesn’t belong to the pessimistic. There’s nothing wrong in thinking big and there’s nothing wrong in being confident. I learned so much from Buffett and I let be part of me some of this simple knowledge, that I can’t even recall exactly from where and when I heard him saying the things that…
Terza e ultima puntata su come e se si puo’ copiare i grandi maestri come Buffett. E’ chiaro: si deve , non si puo’. Non si deve pretendere di fare le identiche cose o paragonarsi a lui. Come non si deve pretendere di essere Bill Gates, o Steve Jobs, o Bach se si studia musica.…
I apologize to my american friends for this week i promised to write something about Buffett in Italy, and it’ll be in italian, language of which i’m not a native speaker either because my first language was the strange dialect of the southern town in Italy in which I was born. But, is what it…
Non pretendo averli letti tutti. Ma non ne consiglio nessuno. L’unico libro che consiglio su Buffett è “the Snowball” che è l’unica biografia autorizzata e “narrata” da lui stesso. E scritta benissimo ed in un magnifico stile dalla brava Alice Schroeder. Voluminosa e dettagliata e ovviamente non tradotta in italiano. E qui direi inizia un…
1.How much money this investment will produce in the future? 2. When ? 3.And at what risk? The first question must be intended like “the cash flow streaming or streams of cash flow that I can reasonably predict to collect in the future”. And immediately after this, I want to know when is this…
So, if Value has to be found, what does price is there to say? For stocks price will not tell you that much about the company, the business, the going-on concern value. (That is the value we try to calculate or find for something that produces an inflow (and outflow) of cash. The “numbers” (accounting…