#个人底层投资原则分享

This episode is where several regular guests will share their underlying investment principles and accept questions and inquiries from other guests.

Zhen Dong Twitter @zhendong2020

My definition of principle is to start from the beginning and end with the goal of keeping things unchanged for a long time and being valuable to you in the long run.

Buffett's investment principle is to buy companies with industrial advantages, competitive advantages, and managed by honest and talented people at a reasonable price. After reading Buffett, I think principles can be roughly divided into two categories: one is what you should do; the other is what you don't do.

There are several differences between Gorilla Games and Buffett:

Buffett talks about the need to value companies and to choose companies whose cash flow is easy to understand. Gorilla Assets has the characteristics of high-tech companies such as paradigm shift or crossing the chasm, without good cash flow, and its valuation is high and growing at a high speed, which will continue to change, so it is difficult to define what a good price is.