| ǿ,
= ſ ڰ Ӵ (2001) ' ̴ 100'̶ ƴ Դϴ. ðδ öе ִ ̶ Ǵܵ ٽ ϰ մϴ. ð 귯 Ϻ ġ Ͱ ٶϴ. ڴ '¸Ͻ' ǥ̻ ġڿ õ å ϴ ϰ ʴϴ١ "ܱ ְ ϰ, ؼ Ű澲 ʴ´. ϵ ֽ Ѵ." ݱ Ⱓ 꿡 åδ ߵ å 'The Warren Buffet Way'(1994) ιƮ رƮ ڱ ó ſ ܼϴٰ Ѵ.
ڽŵ "츮 ϴ ɷ پѴ ƴϸ, Ư ɷ ʿ ƴϴ" Ѵ. 簡ġ ϰ, ݿ ŷǴ ֽ ƴ ̴. ڿĢ Ȯϰ ų ִĴ ̴.
1930 8 30 ¾ ط 71 ȴ. ״ 1993 꽺 ̱ ְ 1 ö, 2000 256 4 ߴ. 10 Ұϴ. ״ ڽ ¾ ī , 40 31,500 ÿ ִ. װ ִ ְ濵(CEO) ȸ ִ ũ ؼ ֽ 475,000ְ δ.
3 ° ״ پ, ָ . ȸ ο ģ 8 ó ֽ Թ о, ƹ ٴϴ ȸ 忡 . 11 ó ֽڸ ߴµ Ƽ ȸ ֽ 3ָ ִ 38 . ֽ ִ 27 ¿ ٽ ߰, ״ ᱹ 40 ֽ ȾҴ. Ḧ ϰ ù ֽڿ 5 . ֽ ִ 200 ߴ. ù ֽڿ Ҹ ŵ ״ " ȸ ʿ伺" ϰ ̴.
ڹ ͵ 쿬 ̾. 19 ̿ ī Ϲ Ͻ Żߴ. ̰ ʹ ٴ . ״ 1 ٽ ϶ б ұϰ, ÷ Ͻ ߴ. б 'Ǻм(The Security Analysis)'̶ å ֽڿ м Ʋ ߴٴ ް ־. ڿ ' (The Intelligent Investor)' ڹ 簡ġ ΰ, ּȭ ڼͷ ø ִٰ ƴ.
ö ڸ " ֽĿ ̸鼭 ڼ ø ִ" ̴. ״ η ֽĽ ϰ ִµ, η ٴ ֽ ȴٰ ߴ. Ųٷ ڵ ʹ θ 쿡 ְ ũٰ ô. ״ ֽİ ϰ Ƿ Ͻ ȿ Ѵٸ ڼͷ ø ִٰ ߴ.
Ѹ ʸ Ǽ(ϴ ֽĽ ̷а ǼŰ ƴϴ). ǼŴ ڹȸ縦 ϸ ڼͷ ø 췮 ãҴ. ǼŴ 췮 DZ ؼ 繫 ߿ 濵 ɷ° ߿ϸ ü غ Ѵٰ ߴ. Ǽ ݰ , ڻ ڻ갡ġ ־ ٰ ̷. Ư 簡ġ Ǵϴ ڻ ߿ϸ, ̸ ľϱ ؼ Ҽ ȸ翡 ؾ Ѵٰ ϰ ִ.
ڽ 85% ̸, 15% ǼŶ ϰ ִ. ϰ ִٴ ̴. 簡ġ Ϸ ŷǴ ֽ ϵ ֽĺٴ ش Ҽ Ʈ ϴ ̴. ϴ ֽĵ ڻ갡ġ Ǵ Ͱ 帧 簡ġ ðѾ ۰, ְ濵 ո̸ ٴ ִ. ̵ ȸ ֵ Ȱ , ܼؾ Ѵٴ ϳ.
װ 1962 ϱ ũ ؼ̴ 1889 Ѷ ױ۷ ִ ȸ翴 1965 μ ÿ ս 1,000 ߴ. װ ũ ؼ̸ μ 2⸸ 1967 ȸ Ͽ ȸ 2 ϸ鼭 ȸ ϱ ߰, ڼ ̴ ɰߴ. ũ ؼ̴ Ĩ , ĵ, ȷ , ī Ǹ, ȸ μ ȸ Ŵ ִ. Ƹĭ ͽ, īݶ, Ʈ, ABC, İ ũ, Ʈ, ʷ ̳ͽ, ֽĿ ū ڼ ÷ȴ.
ũ ؼ̸ μ 1965 1998 ʵ ̳ʽ ͷ ø ʾҴ. Ⱓ S&P500 ͷ 7̳ ̳ʽ ϸ ڿ ź ھƳ ϴ. ٸ װ ö ܸߴ ͳ ְ ֽĽ ̰߰ ޱɴ 1999 ״ ־ ߰, ᱹ ־ ͷ ߴ. 2000 ̸ ȸϰ Ÿ ö ȿ ߴ.
"ֽڸ ̱ ְ ΰ " ܵ . ũ ϶ ũ带 Ѵٵ簡 ÷̼ ϴ . ̰ ܵ ߿ ڿĢ ̾ ̴.
"ù° غ , ι° غ ƾ Ѵٴ Ģ ."
ȨǸ 鼭 ϰ ϰ ֽϴ. ŭ ִ ְ....