Te Mōhio ki ngā Mātāpono Pūtea a Warren Buffett
E mōhiotia ana a Warren Buffett hei tētahi o ngā kaipupuri moni angitu rawa atu o te hītori. Mā roto i tana kamupene haumi, a Berkshire Hathaway, kua whakamātauhia e ia he rautaki whai whakaaro, ngāwari, me te pumau ka taea te whakaputa i te mahi roa whakamiharo. He tokomaha e kī ana ko tana angitu nā ngā "tinihanga" uaua, nā te kaha rānei ki te matapae i te mākete, engari ko te mea nui a Buffett ko te ritenga kē: kia mārama ki te pakihi, hoko i te utu tika (iti rānei), me te manawanui.
E matapakihia ana i roto i tēnei tuhinga ngā mātāpono haumitanga tino nui a Warren Buffett, me pēhea hoki te mārama ki aua mātāpono kia whai pānga ai ki ngā kaipupuri moni tīmata me ngā kaipupuri moni mātau.
1. Te haumi hei mana pakihi, kaua ko te hoko hea anake
Ki a Buffett, ko te hoko hea he rite tonu ki te hoko i tētahi wāhanga o te mana pakihi. Nō reira, ehara tana arotahi matua i ngā nekehanga utu o ia rā, engari ko te kounga o te kamupene e hokona ana e ia. E hiahia ana ia ki te mōhio me pēhea te whakaputa moni a te kamupene, te pumau o te tono mō āna hua, ko wai ōna hoa whakataetae, me te mea ka noho tonu te pakihi hei mea nui mō ngā tekau tau ki muri.
Mā tēnei mātāpono ka ārai i ngā kaipupuri moni ki te whai wāhi ki ngā whanonga whakapae - hei tauira, te hoko hea nā te mea kei te rongonui. Ki te kore koe e mārama ki te mahi a tētahi kamupene, ka kī a Buffett kāore koe i te rite ki te noho hei "rangatira" o te pakihi.
2. Kia mārama ki te "Porowhita o te Pūkenga"
He rongonui a Buffett mō tana ariā porowhita pūkenga: haumi ki ngā mea e mārama ana koe. Kāore ia e hiahia ki te mōhio ki ngā rāngai ahumahi katoa. Engari, ka whiriwhiri ia ki te mātau ki ētahi wāhanga ka taea e ia te arotake pai. Ehara i te whānui o tō mōhiotanga te mea nui, engari ko te mārama o ō rohe.
I roto i te mahi, ko te tikanga o tēnei kaua e peke atu ki te waka hokohoko ka hoko hea i roto i tētahi rāngai motuhake nā te mea kei te rongonui haere. Mena kāore anō koe kia mārama ki te tauira pakihi, ki ngā mōrearea, me ngā pūtake o te hua, he pai ake te tatari, te whiriwhiri rānei i tētahi kamupene e mārama ake ana ki a koe.
3. Rapua ngā pakihi he kaha te painga whakataetae (Economic Moat)
Ko tētahi o ngā ariā rongonui a Buffett ko te arai ōhanga, he "arai" tiaki e uaua ai te whakataetae ki tētahi kamupene. Ko ngā kamupene he arai kaha tō rātou, ka taea e rātou te pupuri i te hua me te wāhi mākete mō te wā roa.
Ka puta mai ngā awaawa i:
– He waitohu kaha e pono ai ngā kaihoko.
– He ōhanga tauine, nō reira he iti ake ngā utu whakaputa i ngā utu o ngā kamupene whakataetae.
– He nui ngā utu whakawhiti, nō reira kāore e pai ngā kaihoko ki te whakawhiti.
– Te pānga o te whatunga tohatoha, te whatunga rānei.
– Ngā ture/whakaaetanga e uaua ana ki te whai i.
E pai ana a Buffett ki ngā pakihi e angitu ana i nāianei, ā, he "taiepa" anō hoki hei tū atu i ngā whakataetae mō ngā tau e haere ake nei.
4. Arotahi ki te kounga o te whakahaere kamupene
E whakaaro ana a Buffett ko te whakahaere he mea nui. E pai ana ia ki ngā kaiwhakahaere pono, mātau, ā, e aro nui ana ki ngā kaipupuri hea. Ko te whakahaere pai te tikanga:
– Te tohatoha pūtea me te whakaaro nui (te haumi, te whakawhānui, te hoko anō, ngā wehewehenga).
– Kia mārama te tuku pūrongo me te whakawhitiwhiti kōrero.
– Kaua e whai i te tipu hei āhua pai, engari ko te uara tūturu mō te wā roa.
He maha ngā wā, ka hinga ngā kamupene he pai ā rātou hua mēnā kāore i te pai te whakahaere. I tetahi atu taha, ka taea e ngā kamupene he pai ā rātou whakahaere te tipu pumau.
5. Hokona i te utu whaitake: te ariā o te uara ā-roto
Ahakoa e pai ana a Buffett ki ngā kamupene kounga teitei, e aro tonu ana ia ki te utu. Kāore ia e hoko "i tētahi" hea nā te mea he pai. Ka whakataurite ia i te utu mākete ki te uara tūturu—te uara tika o te kamupene i runga i tōna kaha ki te whakaputa moni ā muri ake nei.
Koinei te rerekētanga i waenga i te haumi me te whakaaroaro. Ko ngā kaipupuri moni uara pērā i a Buffett e rapu ana i ngā whai wāhitanga ina iti iho te utu o te mākete, i te iti rawa rānei, i te kounga o te hea. Kāore ia e whai ana ki te hoko i te utu iti rawa, engari ka hoko ina pai te whai wāhitanga mō te mōrearea-utu.
6. Whakamahia he "Tawhiti Haumaru"
Nā Benjamin Graham, te kaiārahi a Buffett, i whakatairanga te ariā o te tawhē haumaru. Ko tōna tikanga he hoko i te utu iti iho i te uara tūturu hei whakaiti i te tūponotanga o ngā hē tatau, ngā huihuinga ohorere rānei.
Hei tauira, ki te aromatawaihia e koe te uara tika o tētahi kamupene i te 10.000 mō ia hea, mā te hoko i te 7.000 ka āwhina i a koe. Ki te he te aromatawai, kei a koe tonu te ārai. Mā tēnei mātāpono ka āwhina i ngā kaipupuri moni ki te karo i ngā whakataunga ngoikore, "ko au-ki-au" i te wā o te piki me te heke o te uara.
7. Kaua e aro nui ki ngā nekehanga o te mākete: whakamahia ngā kare ā-roto o te mākete.
He maha ngā wā ka kōrero a Buffett mō "Mr. Market"—he kupu whakarite e whakaatu ana i ētahi wā ka tukuna e te mākete ngā utu koretake e peia ana e ngā kare ā-roto. He wā anō ka tino hihiri te mākete, ā, he wā anō ka tino pouri. Ka whakamahia e ngā kaipupuri moni mātau ēnei tikanga.
Engari ko te mataku ina heke ngā utu, ka titiro a Buffett ki te kite mēnā ka iti ake te utu o ngā kamupene pai nā te hekenga. I tetahi atu taha, kāore ia e hiahia ki te hoko i te wā e harikoa ana, nā te mea kua teitei kē ngā utu.
8. Whakaarohia te wā roa, kia manawanui hoki
Ko tētahi o ngā patu nui a Buffett ko te manawanui. E pai ana ia ki te haumi mō te wā roa nā te mea ka tipu te uara o ngā kamupene kounga i runga anō i te mahi a ā rātou pakihi. Hei tāpiri, mā te wā roa ka taea te whakanui ake i te hua o te whakakotahitanga.
I kī anō a Buffett ko tana wā pupuri tino pai ko "ake tonu atu," ahakoa i roto i te mahi ka taea tonu e ia te hoko atu mēnā ka huri ngā kaupapa matua, ka nui rawa rānei ngā utu i runga ake i te uara tika.
9. Arotahi ki ngā whakaaro pai rawa atu, kaua e nui rawa ngā hea
He rerekē ki te huarahi kanorau rawa atu, ka aro nui a Buffett ki ngā whai wāhitanga e tino mārama ana, e tino whakapono ana hoki ia. E whakapono ana ia ko te kanorau nui rawa atu he tohu pea kāore te kaipupuri moni i te tino mārama ki tā rātou tātaritanga.
Heoi, he mea nui kia mōhio: he pai ake tēnei rautaki mō ngā kaipupuri moni he kaha ō rātou pūkenga tātari. Mō ngā kaipupuri moni tīmata, he mea nui tonu te kanorau. Engari he mārama te akoranga: he pai ake te whai i ētahi haumitanga kounga e mārama ana koe i te hoko i ngā hea maha kāore he take whai take.
10. Āta karohia te nama nui rawa, kia mārama hoki ki ngā mōrearea
He maha ngā whakatūpato a Buffett kāore te mōrearea e puta mai i te piki me te heke o te utu, engari i te kore mōhio me te nui rawa o te hua. Ka taea e te nama te whakanui ake i ngā hua, engari ka taea hoki e ia te whakangaro i te putea ina neke te mākete ki waho.
Mā ngā mātāpono a Buffett ka akiaki i ngā kaipupuri moni ki te pupuri i te manawanui pūtea, ki te whiriwhiri i ngā kamupene he pai ā rātou pepa toenga, ā, kia kaua e whakaroa rawa i a rātou anō. Ko te whāinga: kia noho tonu ki te mākete mō te wā roa, nā te mea ka puta ake ngā whai wāhitanga pai mō te hunga kei a rātou tonu te pūtea ina pā mai he raruraru.
11. Te whakahaere i te ngākau, te ngāwari, me te ōritetanga
Hei whakarāpopototanga, he tino māmā te rapunga whakaaro a Buffett: hoko pakihi pai i ngā utu whaitake, kātahi ka pupuri i aua pakihi mō te wā roa. Engari kāore te ngāwari e rite ki te ngāwari. Ko te wero tūturu ko te whakahaere: te noho marino i te wā e mataku ana te mākete, te kore e apo i te wā e harikoa ana te mākete, me te piri ki te tātaritanga taketake.
He mea nui te ōritetanga, nā te mea ko ngā hua nui o te haumitanga kāore e puta mai i ngā whakatau maha, engari mai i te whakatau tika me te tuku i aua whakatau kia tipu.
Te Katinga
Ko ngā mātāpono a Warren Buffett e aro nui ana ki te mōhiotanga pakihi, te painga whakataetae, te whakahaere kounga, me te hoko me te taha haumaru. Engari i te whai i ngā hua tere, ka hangaia e ia te taonga mā te manawanui me te hua roa o te whakakotahitanga. Mō ngā kaipupuri moni, ko te whai i a Buffett ehara i te mea ko te hoko i ngā hea rite tonu ki a ia, engari ko te tango i tana whakaaro: he whakaaro nui, he whakahaere tika, he aro nui ki te uara.
Ki te hiahia koe ki te tīmata ki te whakamahi i ngā mātāpono a Buffett, ko te taahiraa tuatahi ko te whakapakari i tō māramatanga ki ngā kaupapa matua o te kamupene, te mahi i te aromatawai uara tika, me te whakawhanake i ngā tikanga haumi pumau. Mō te wā roa, he kaha ake te ātete o tēnei huarahi ki ngā ru o te mākete, ā, he nui ake te tūponotanga ki te whakaputa tipu hauora.
