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  • Hi this is Tutor Nick P and this is Quotes 265. The quotes today are by Warren Buffet.

  • Okay. We have several quotes and on top we have two quotes that kind of go

  • together. So let's look at the quotes here. Of course remember this is the very

  • famous Warren Buffett , the one that's on the you know, the Forbes list. He's usually

  • second I think he's actually third supposedly , the richest person in the

  • world. But anyway, let's continue. So here's the first one. Risk comes from not

  • knowing what you are doing. Okay. The next quote that goes together

  • with this is "Never invest in a business you cannot understand. " All right. So let's

  • look at these two quotes first. Let's look at the note here. What Buffett is

  • telling you is that if you buy what you know, your chances of making mistakes are

  • greatly reduced. They greatly are lower. You'll have less. You'll have less risk

  • and hopefully you should do better. Okay let's continue, let's continue here. When

  • we say by what you know, we mean did you have experience in that industry ? In that

  • field of the companies or the commodities you want to invest in ? Did

  • you major in this area ? Did you do any actual study in this area ? Did you have a

  • job that somehow connected to this industry ? And finally did you do any

  • serious homework, what we sometimes call research ? You know, did you check

  • on you know what the current prices are ? What the prices were in the past ? Or were

  • the actions over the last few years of it going up and down ?

  • What makes this stock you know, rise and what kind of what kind of situations in

  • the economy would make this this you know, stock possibly fall ? If it's a

  • product, if they sell products or something did you actually buy them ? How

  • do you feel comparing them to others ? So you have to look at the competition.

  • Things like that. So he says you know, only buy what you know. Only buy what you

  • think you can actually understand. Well and that's basically what he means by

  • that. All right. Here's another little note. Warren Buffett claimed to avoid

  • tech stocks because he says he did not understand the tech industry. So he was

  • trying to ... I guess he's saying he practices what he preaches. So he's

  • telling you don't buy what you don't understand and he himself says that he

  • never really understood tech or he couldn't understand all of it. You know,

  • what mean you know , what factors may make this go up and down. So he avoided it.

  • All right and let's look at the second part down here. Here's another quote.

  • Forecasts may tell you a good deal about the forecaster or the forecasters the

  • people that are giving you the forecast, They tell you nothing about the future.

  • Okay. Let's look at the note here. He is basically telling you to beware of

  • forecasters, especially those that appear on business stations. Some of them may

  • have ... may simply have been paid to promote a stock. You know, so . so you don't

  • know. that could be one thing that you kind of learn about them or possibly

  • learn about them. Or you're looking about you know, their logic that they're using

  • or their explanation. So you can learn a lot about them. But I guess he's saying

  • don't actually trust their forecasts. Often they disclose if they own the

  • stock or not and then that's kind of important. But there's two ways of

  • thinking about it. So I don't know if this really helps. So let's continue here.

  • Although I'm not sure this tells you much because some think if he does own

  • the stock. Maybe he's just trying to encourage you to buy the stock. So you

  • pump up the price or at least all the people out there pump up the price and

  • then he may sell at that point. And that would be actually like taking advantage

  • of the people and if he doesn't own the stock. Like what we say here. And, and if

  • he doesn't own the stock then, then why is he encouraging you to buy it ? If he's

  • not practicing what he preaches. So , so this is what he's saying be careful

  • about you know what forecaster's you take advice from. There are some other sites

  • out there you know, that, that's all they do. If you do want to listen to them

  • check out their track record. See if they if their forecasts have really come true

  • or not. That might be part of it too. If you want to listen to their advice at

  • all. Anyway hope you got it. I hope you found it informative. I hope you found it

  • enjoyable. Thank you for your time. Bye- bye.

Hi this is Tutor Nick P and this is Quotes 265. The quotes today are by Warren Buffet.


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A2 初級 美國腔

英語外教Nick P語錄(265)巴菲特--三語錄 (English Tutor Nick P Quotes (265) Warren Buffett - Three Quotes)

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