投资经典 - “The Gorilla Game”（读后感1）

Ten rules for playing the gorilla game

 

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

那要看有没有那魄力- 搞不好会破产

 

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

价格是不是已经太高？

 

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

我觉得这样的Risk也不小

 

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

道理都懂，问题是怎么知道the threat is proven substitution. 对业界要有相当的了解。

 

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

理由是ApplicationSoftware很难被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，当然要卖啊

 

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

这个好懂，主要是心理上的问题 – 头脑清醒，承认错误的意思吧。

 

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

集中投资的意思吧

 

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

 

要Long-Term投资。

 

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

 

好比Oracle进入Linux，Virtualization等News