Source: Securities Times Network

Sun Tzu's Art of War is the earliest existing military book in China and the earliest military work in the world, and it is known as the "sacred book of military science". It is not only a splendid treasure in China's ancient military cultural heritage, but also has great enlightenment for investment.

There is a passage in the fourth chapter of Sun Tzu's Art of War and Military Form: "Sun Tzu said: Those who were good at fighting in the past were invincible first and won after waiting for the enemy." You can't beat yourself, but you can beat the enemy. Therefore, a good soldier can be invincible, but the enemy cannot be defeated. Therefore: the victory lies in knowing, not doing. "

Sun Wu said: In the past, people who were good at leading troops to fight always created their invincible conditions first and waited for the opportunity to defeat the enemy. Make yourself invincible and take the initiative in your own hands; Whether we can defeat the enemy depends on whether the enemy gives us a chance. Therefore, a good fighter can only keep himself from being defeated, but not let the enemy be defeated by our army. So victory is foreseeable, but it can't be forced. "

Sun Wu clearly divided two things: his own business and God's business. It is your own business to create conditions to make yourself invincible; It is God's business for the enemy to give us a chance. He also stressed that the first thing to do is to do your own thing, that is, you can't be defeated; Then what we expect from God is to give us a chance to defeat the enemy. He also set a psychological expectation for everyone, that is, after doing his own thing well, victory can be met but not sought.

The same is true of investment. The transaction you make must first make your principal not lose money, and then wait for the arrival of high-yield opportunities. Can you do it? In my opinion, this effect can be achieved if diversified investments are done well. This is a convertible bond.

Convertible bond is a kind of bond issued by listed companies, which pays interest every year and repays the principal and interest at maturity or premium. Investors also have the right to exchange convertible bonds for shares of listed companies at the agreed price. If the stock price of a listed company is higher than the agreed conversion price in a certain period of time, investors can get the income equivalent to the increase of the stock above the conversion price. In addition, when the share price is lower than the conversion price in a certain period of time, the conversion price can be lowered with the approval of the shareholders' meeting, thus laying the foundation for future profits.

In addition, there is a passage in the military form of Sun Tzu's Art of War: "The so-called good fighter in ancient times is better than the easy one." Therefore, those who are good at fighting will win, without wisdom and anonymity, without courage and without plan. Therefore, if they beat people who are not special, their measures will win, and those who have failed will win. So a good soldier is in an invincible position without losing to the enemy's failure. "

It means: "In ancient times, people who were good at fighting only defeated those enemies who were easy to be defeated. Therefore, a real warrior, without the reputation of wise SHEN WOO and heroic feats, can win the battle without any mistakes, because his plans and measures can ensure that he defeated the doomed enemy. Therefore, people who are good at fighting will not only make themselves invincible, but will never miss any opportunity to defeat the enemy. "

What makes people stunned is that the good soldiers admired by Sun Wu are not those brave generals who kill the enemy and seize the city, but those who do impeccably and look for people who can crush the enemy with a blow like tofu. Think carefully, why not a successful investor?

Warren Buffett has said more than once that one of the secrets of his investment is to find easy deals. He always said, "I'm not going over a seven-foot railing." What I'm looking for everywhere is a foot-high railing that I can cross. "Does this sentence of contemporary stock gods have the same effect as that of soldiers thousands of years ago?