Xie Baisan: Specializes In Making Money Without Losing Equity, And Finally Up To Seven Hundred Million.

About Buffett's book and legend, we have found many versions in the bookstore.

Many investors paid hundreds of dollars to buy them all and read them one by one. (my good friend Qian Wei also organized the Peking University and Tsinghua students to plate the English version of Buffett's annual speech at the shareholders' meeting into Chinese and make a booklet to send them to friends.

He lay down under the umbrella of the Sanya beach and read it carefully.

Buffett wrote the letter to the shareholders carefully, often writing for a month, with high gold content.

But, as economist Li Yining said, "read books should be divided into intensive reading and extensive reading.

The number of books to be read is very small. A large number of books are extensive reading. Some only look at the contents.

To speed up reading is to save time.

(from Li Yining: the order of the campus in mind.

)

So what is Buffett's millions of words, letters, and most important, classical experiences? In fact, there is only one.

Buffett's most important and classic experience is actually only one sentence: "the first rule of investment and financing is not to lose money. The second rule is to remember the first rule."

For a long time, after reading all the books and letters of Buffett, he found that these two rules are what he told us.

Absolutely not.

Big ones, for example, large and large financial derivatives, such as Internet stocks and so on, people laugh at him for being old.

But when President Clinton left office and the high-tech industry was not valued, the Nasdaq market was avalanche. At the same time, Buffett showed the character and respect of gold.

I often ask friends and Fudan classmates: let the driver of the car decide that there is not a big accident in his life, he will not crush a person in his life, or be hit by someone's car. Is that possible?

Well, that's the crux of the problem.

Why in the long run is the 85% loss of ordinary shareholders in China? One is that China's stock market is very bad. It's the worst in the world.

One of.

China's economy is the best economy in the world, but the stock market is not a barometer of the macro economy.

Two, many people in China do not understand the most important point of Buffett's massive experience and lessons. They must not lose money or lose money.

They also dare to fight for stocks with the possibility of 40-50% losses, and once they are caught, they will not stop.

At the very least, 95% of Buffett won the money to invest in this breed.

And my good friends: Liu Ming, Qian Wei, Huang Hong, Shi Kai, Yang Hui Ding, Jin Mai, Ren Yong and so on. They all pay great attention to this. They try every means to find the securities that 95-99% will not lose, and invest exclusively in making profits. As a result, they are successful and will not gamble.

On one trip to an island, I met a master with a computer and opened it. I was stuck. The securities he had noticed were exactly the same as those of Mr. X and Mr. Liu Ming in Shanghai. They were all warrants, warrants, and security arbitrage opportunities.

If the design of risk in this area is completely successful, Panzhihua Iron and steel company can make free use of 4 years' huge amount of money by investors.

In this regard, legends, successful people have been very earnest, solid research, the results are different.

First of all, Mr. Liu Ming told me and reminded me that he and his team made a positive and correct judgement on the initial stage of the stock market, especially the first warrant, and took an active part in it.

But for the second selling agreement, that is, the guarantee of the stock price up to 10.55 yuan by the week before April 25, 2011, they are highly skeptical and do not think it can be done at all. It will eventually fall to 3-5 yuan.

But Mr X's hero is once again showing his true character. His greatest feature is that the company announcements, listing reports, year-end, mid year and quarterly reports for a large number of huge investments will be carefully read and analyzed between the lines.

Delete the dross and extract its essence.

He told me that the company's warrant agreement is a big deal, and it's not very deceptive.

First: Panzhihua Iron and steel company and its major shareholder Anshan Iron and steel company are two of the four central enterprises in China's iron and steel industry (the other two are Wuhan Iron and steel and Baosteel).

The central enterprises will not dare to cheat others, otherwise, the credit market will be swept away.

Second, they all belong to Li Rongrong, the SASAC.

Such a powerful SASAC can not afford several good assets to help Panzhihua Iron and Steel Group and Anshan Iron and steel company.

Look at them spend 27 billion yuan to buy old stock and withdraw from the market? Impossible.

This possibility hardly exists.

Mr. X looked at the details at the crucial point. He analyzed the announcement of the SFC and asked them to "coordinate the relationship with investors". He believed that the selling agreement would be implemented. Even the Pangang vanadium warrants could be invested in large quantities, and it was also very safe.

(he invested heavily).

Qian Wei, a teacher in Beijing, is a connoisseur of both Mr. X and me. He is younger than us. He is the champion of the college entrance examination.

Occasionally, he was invited to lecture at Fudan University and stayed at the Crowne Plaza Hotel next to the school.

Mr. X and I went to see him.

Qian Wei was very intelligent and sunny, and warmly received us. Mr. X was respected from his heart and respected from his heart. He sat on his chair half a half, bent half and bent over to ask Qian Wei for advice.

Qian Wei thinks: this stock will rise to 10.55 yuan is 100%, but the possibility of going up to 12-14 yuan is only 85%. Mr. X humbly talked about it. I think the possibility of the latter is also 99-100%. Otherwise, 10.55 yuan will not stop. Tens of thousands of shareholders are facing up and throwing it up. Then, Panzhihua Iron and Steel Co., and Angang and SASAC will fall short.

After hearing their discussion, I raided second days to buy Pangang steel and vanadium with 8.25-8.30.

And Mr. X was strongly committed to the varieties he identified. He bought the steel and vanadium of Panzhihua Iron and steel group with 60% of hundreds of millions of funds.

Later, as Mr. X expected, the SASAC and Angang in Panzhihua Iron and steel company, known as the injection of high-quality iron ore, Australia, rich iron ore and so on.

In addition, with the efforts of securities companies, the stock price of the company increased by more than 14 yuan before April 25, 2011 and lasted for nearly a month.

Mr. X won the battle, and his money rose to seven hundred million.

Afterwards, he said cheerfully, "thank you, I bought 60% of the fund!" I was stuck. I remember he said at the time, invest 16%, ha, business secret!