The drowning of private equity manager Takasugi has caused a great impact on my psychology, although I have never met with Takasugi, but through the first financial, often listen to his views, he is one

The drowning of private equity manager Gao Shan, has caused a great impact on my psychology, although I have never met with Gao Shan, but through the first finance, often listen to his views, he is a unique thinking, sharp point of view of the guest, the management scale of 4 billion ,,, such an excellent talent, how suddenly ??? ... I can't calm my heart for a long time!

This incident shows what a cruel industry the private fund industry is! Only to see thieves eat meat and not to see thieves beaten! Behind the glamorous and beautiful is a lonely figure... About his drowning, there are various reasons for circulation, nothing more than investment failures and so on... I had a lot of thoughts about the following ideas, which I have been adhering to for more than a decade, but this incident has strengthened the following ideas:

First of all, risk control comes first! I think the essence of finance is two words ~ "leverage"! So the money comes very quickly, but if you don't pay attention to risk control, go faster! Therefore, the secret of making money in the financial field is also two words ~ "risk control"! This risk control is not only the risk control in the investment field, but also the risk control at the company's operational level! Be sure to be compliant and legal! Most businesses don't die because they walk too slowly, but because they walk too fast! I remembered Li Ka-shing's business secret ~ "conservative"!

Second, leverage is the source of all evil! You can do it 100 times, but one failure can turn you into a negative asset! It's like parkour sports! Does it make sense? Does bare-handed rock climbing make sense? Conquering 100 mountains, a small negligence to ruin the whole life, is it worth it?! It's a model without accumulation! Not to mention the steady and far-reaching line! Therefore, investing in stocks must not be leveraged, do not take the money to invest, do not listen to the fools of those middlemen brokers!

Again, can you end well without leverage? Not yet! More importantly, be in awe of the market! Acknowledge the unpredictability of the market! With humility, admit your weakness! Weakness and ignorance are not obstacles to survival, arrogance is! In this zero-sum game market, a large number of top smart people always think that they are smarter than others, play with each other, always want to put the money in other people's pockets into their own pockets, why are you so smart?! There is no winner in the casino, and if you gamble for a long time, you must lose! These proverbs have long been summed up very thoroughly, but these intelligent people are still self-righteous and always want to jump out of the cyclical law of history! Zero-sum games can't get rich! Good swimmers drown, good fighters die!

Fourth, jump out of the circle of the game, enter the rationality of value, and make solid investments in order to go steady and far! Admit that the market is unpredictable, admit that we are not smarter than others, we should not be arrogant to predict the market, do not think about the money in other people's pockets to cut leeks, but seriously do a good job of company analysis, build a portfolio, earn time money, make money for listed companies! Only this model can be stable and far-reaching, and can it start and end well! Isn't that what Mr. Buffett Sr. is all about? Isn't this also the case with the Share God Forest Garden?

The final summary is as follows:

1. Casinos have no winners, long-term gambling must lose, zero-sum games can not get rich!

2. Jump out of the circle of the game and enter the rationality of value, in order to go steady and far!

3. Do not make money from market fluctuations, build a portfolio, make investments in a down-to-earth manner, use time to make money, and make money from listed companies!

4. Value investing earns the money created by wealth, the builder of wealth, not the redistribution of wealth!