TD股價突破100加元 (二）- 20200105

"I have never met a rich man who hasn't lost a lot of money,

but I have met a lot of poor men who have never lost a dime"

- Rich Dad and Poor Dad

在巴菲特的整個投資生涯中，大多數的投資標的選擇是平庸的，隻有極少數是比較成功的（不是極其優異），他的錯誤選擇數量要大於他的成功選擇的數量。

“I don’t want to buy into any business that I’m not terribly sure of. So if I’m terribly sure of it, it probably isn’t going to offer incredible returns. Why should something that is essentially a cinch to do well offer you 40% a year or something like that? So we don’t have huge returns in mind. But we do have in mind never losing anything.” －　Warren Buffett 1998 Talk at University of Florida

投資過程中遇到各種各樣的挑戰和挫折是非常正常的。

巴菲特買入可口可樂之後，股價跌了20%，華爾街發文嘲笑老巴不行了。

巴菲特買入蘋果之後，股價跌了20%，華爾街發文嘲笑老巴來晚了。

芒格買入阿裏巴巴之後，股價跌了50%，大家都在嘲笑芒格不懂中國政治。

巴菲特知道可口可樂，蘋果一定會成功嗎？他不知道。

芒格知道阿裏巴巴一定會成功嗎？他不知道。

他們隻是在重複幹一件幹了一輩子的事情，有時候會成功，有時候會失敗，他們不知道這一次會不會成功，但是他們非常確信堅持不停的去做，最終成功的概率大於失敗的概率。

“Games are won by players who focus on the field, not the ones looking at the scoreboard.”- 巴菲特