Buffett's "quietness" is not lifeless loneliness and indifference, but "to be empty and quiet" in oriental wisdom. Unlike Wall Street and Nasdaq who lashed out at Fang Qiu, he didn't allocate funds to go on the rampage in the stock market, chasing up and down, but went back and walked to the place where life originated, to the point where time began, and watched the endless cycle of everything when "everything was in cahoots". Buffett's quietness is a great realization of returning to the source. We are willing to hold a stock indefinitely, so the market is by no means necessary: the securities we hold are not traded and will not make us uneasy. Our ultimate economic fate will depend on the fate of the company we own, whether we own all or part of it. Only by understanding the truth that the world is constantly changing can we cultivate the calmness and calmness that should be constantly changing.
First of all, governing by doing nothing.
Do what you have to do and teach you what you shouldn't say.
Vernacular writing: Treat the world with a "inaction" attitude and practice the teaching of "no words".
1? Doing nothing and doing something.
There is a strange man of enterprise management who is well known by China business elite. He's Jack? Welch. In June 2004, Jack, who had retired from the position of chairman of General Electric Company for four years? Welch made an exchange in China, and Chinese godfather business leaders, led by Liu Chuanzhi and Zhang Ruimin, fell in love at first sight. Welch, who is hot, manages General Electric Company with thunderous actions. 1998 and 1999, Welch was named "the most respected entrepreneur in the world" by the Financial Times for two consecutive years, and was also known as "the greatest professional manager in the United States in the 20th century" and "the first CEO in the world". Under the great aura of idol CEO, Autobiography of Welch became the best-selling business management bible in the world, earning him $7,654,380+. The book has a circulation of over 6,543.8 million copies in China alone. As the leader of a great enterprise, Welch's achievements really deserve people to give him such a lofty honor.
Compared with Welch, Buffett's reputation as a business manager is obviously far behind. Measures at the operational level are even more lacking. He himself once said, "Berkshire? Hathaway hasn't signed any contract with them (the management team) ... I use the word' them' because they are fully responsible for these undertakings, and they don't need to go to Omaha to make a presentation, nor do they need to prepare a budget and send it to the headquarters for approval. There are no complicated rules for any fees. We just want them to run for a hundred years like their own business. "
Accordingly, Welch's annual salary is as high as $654.38+0.62 million, while Buffett's annual salary is only $654.38+0.000. In other words, Welch's salary for one day is equivalent to Buffett's salary for half a year.
What are the management achievements of the two managers? During Welch's 20 years as CEO, GE made 993 mergers and acquisitions, and its market value increased by 36 times. At Welch's peak, GE set a record of growth of 65,438+00% for nine consecutive years. What about Berkshire? In the past 42 years, Hathaway's net assets have increased by 265,438+0 every year. 4%, a cumulative increase of 36 1 1 times; In terms of enterprise quality, rating agency Moody's gave GE and Berkshire? It is also the AAA of Hathaway.
On this interesting phenomenon, Li Shimin of Emperor Taizong had an incisive summary a long time ago: Five emperors do things with the same sky, Huang San does nothing with the same sky, and Huang San does nothing with the same sky.
This sentence comes from "Emperor Fan? "Jun Ti Shou" and "Di Fan" later became the required textbooks for emperors of past dynasties, which were written by Li Shimin himself. This is the last words of the genius emperor to govern the country for future generations.
In the prosperous times of China's few dynasties, the achievements of Zhenguan rule may be the most brilliant. According to Zi Tong Zhi Jian (volume 193), Zhenguan lived for four years, and only 29 people were sentenced to death at the end of the year. How did Li Shimin make the world so peaceful? The answer is to govern by doing nothing.
In the process of managing his huge wealth empire, Buffett only used the wisdom of inaction in the ancient East. "Charlie and I actually only have two jobs, one is to allocate assets, and the other is to attract and retain talented managers to manage our various businesses, which is not difficult.
"Usually, the managers of the companies we acquired have proved their talents in their careers. They were management stars before they met us. What we have to do is to get out of their way. The point is: if my job is to manage a golf team, what about Jack? JackNicklaus (an American professional golfer, considered to be the most accomplished golfer in the world) is willing to play for me-then he won't get instructions from me on how to swing. Many of our managers are already rich, but this does not prevent them from continuing to create wealth. They work because they love what they do and taste the joy of success. They always think like owners (this is the highest evaluation we can give a manager) and find all aspects of the company fascinating. "
2? Governing by doing nothing in the history of China
Governing by doing nothing, of course, does not mean that corrupt scholars shake their fans and do nothing all day. Li Shimin himself is not an armchair strategist. His ability to act is beyond people's imagination. In 699 AD, 18-year-old teenagers rose from Jinyang to compete for the world. Over the past six years, he has fought many battles, personally killed countless enemies, finally destroyed the world, laid the country, and put his father on the throne of the emperor. At the age of 27, in a bloody court coup, he killed his brothers Li and Li Yuanji, and forced his father to abdicate, becoming the supreme ruler of the world's largest empire at that time. Running the country for 23 years not only realized his "chastity rule" before his death, but also laid an ideological, political and economic foundation for the prosperous Tang Dynasty.
In China's classics, the discussion about inaction is extremely vast. However, all the works of later generations are not as subtle as Lao Zi's words in Tao Te Ching, the originator of "inaction". Although he is often mistaken for a hermit and a negative thinker, Lao Tzu left many strategies for governing the country in his eternal classics: patriotism and governing the people, can we do nothing? Artifacts in the world cannot be made or forced. Those who do lose, and those who do lose. It is based on the inaction of saints, so there is no defeat; Without holding, there is no loss. Take the world by storm, it is often nothing, take the world by storm. I do nothing, but people only care about themselves.
How did Li Shimin inherit Lao Dan's legacy and govern by doing nothing? In Wei Zhi's Ten Thoughts on Advising Emperor Taizong, there is a passage that may reproduce the scene at that time: "When the civil and military contend, the monarch and the minister have nothing to do, they can enjoy traveling in Henan, relax their lives, play the piano and hang the arch, and have nothing to say. Why bother to think hard, take over, serve the eyes and ears of wisdom, and lose the tasteless road? "
How similar are the heroes in the world? If you are lucky enough to live in the heyday of the Tang Dynasty, Buffett may also be able to enter the phase. Because he knows the wisdom of the east and teaches the way without words. Buffett's way of employing people is surprisingly consistent with the exposition of "empty his heart, solid his belly, weak his will and strong his bones" in Tao Te Ching. Berkshire under management? Hathaway gives every manager a simple task, hoping that they will manage the company according to the following three assumptions: he owns the company 100% equity; The only property for yourself and your family is this company; He will not sell the company or merge with others for 100 years.
In the East, inaction is the emperor Wang Zhidao. Of course, be humble. In his years of practice, Buffett has also achieved "governing by doing nothing, doing nothing and being tasteless." How big is it? Good for evil. ""We have cancelled the ceremonies and non-commercial activities that are usually accompanied by the CEO, and managers can completely control their schedules. "
Buffett also told his managers that any decision they made should not be influenced by accounting factors. We ask managers to consider what is valuable, not how it is considered valuable. This is in line with the truth in Tao Te Ching that "the sage is not great after all, so he can become great".
Li Shimin ruled by doing nothing, because he did something in some ways. If you are thirsty, you can make full use of your talents. During the Zhenguan period, the imperial court was full of talents. It's an eternal story that Fang seeks arbitrariness and Zheng Wei admonishes directly, which is only one aspect of Li Shimin's making good use of civil servants. As we all know, the son of heaven who can "win the battle with a bow and an arrow, and conquer the world with a horse and a knife" is still the best among military commanders. Interestingly, Li Shimin was one of the few founding monarchs in history who "attached great importance to affection and loyalty". Han Xin's tragedy of a bird hiding a bow and a rabbit dying did not happen to the founding fathers of the Tang Dynasty. Li Shimin not only attached importance to talents, but also wrote an article on "Using Virtue" in the book Emperor Fan, urging future generations to remember it.
3? The essence of inaction
An important factor of inaction is trust.
Our management mode also enables us to easily expand our business activities. We have read the paper about how many subordinates a person can only manage, but it makes no sense to us. When you have a competent manager, even if you directly manage more than a dozen managers, you can still have time to take a nap in the afternoon. On the contrary, if you are faced with a hypocritical and incompetent manager, even if there is only one, you will feel powerless. Berkshire? The management style of Hathaway makes our managers in the best condition.
The chart is easier and more difficult than it, because it is more detailed than it; Nothing in the world is difficult for one who sets his mind to it. Buffett is not ignorant of the difficulties of managing enterprises. According to him, "after 25 years of buying and managing a large number of different enterprises, I still haven't learned how to solve their problems, but I have learned how to avoid them." In this sense, we are very successful. "
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This is a recent best-selling book, The Stock God has a Way, which clearly advocates the concept of value investment, but it is not a simple sermon, but a detailed collection of information on Buffett's investment practice, infiltrating the concept of rational investment into readers.
What I like better is the China wisdom of Buffett in Chapter 6, from which you can take some.
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