投資經典 - “The Gorilla Game”（讀後感1）

Ten rules for playing the gorilla game

 

1) If the category is application software,begin buying in the bowling alley

那要看有沒有那魄力- 搞不好會破產

 

2) If the category is enabling hardware orsoftware, begin buying after the tornado has formed

價格是不是已經太高？

 

3) buy a basket comprising all the gorillacandidates - usually at least two, sometimes three, and normally no more thanfour companies.

我覺得這樣的Risk也不小

 

4) hold gorilla stocks for the long term. Sellonly on proven substitution threat

道理都懂，問題是怎麽知道the threat is proven substitution. 對業界要有相當的了解。

 

5) hold application software chimp stocksas long as they exhibit potential for further market expansion. Do not holdenabling-technology chimps

理由是ApplicationSoftware很難被Replace。 Switching Cost很高

 

6) hold kings and princes lightly, sellingindividual stocks on a marketplace stumble and the category upon decelerationof hyper growth

都deceleration，當然要賣啊

 

7) once it becomes clear to you that acompany will never become a gorilla, sell its stock

這個好懂，主要是心理上的問題 – 頭腦清醒，承認錯誤的意思吧。

 

8) money taken out of non-gorilla stocksshould immediately be reinvested in the remaining gorilla candidates

集中投資的意思吧

 

9) in a gorilla collision, hold yourgorilla candidates until there has been a definitive outcome

 

要Long-Term投資。

 

10) most news has nothing to do with thegorilla game, learn to ignore it.

 

好比Oracle進入Linux，Virtualization等News