本文根據(jù)即將于今年11月份出版的《鄰家巴菲特：你從未曾聽說過而可向他們學(xué)習(xí)借鑒的世界上最偉大的投資者》（約翰威立國際出版公司，TheWarren Buffetts Next Door: The World's Greatest Investors You'veNever Heard Of）改寫而成。開發(fā)你巴菲特式的投資潛能
作者：Matthew Schifrin 發(fā)布于：2010-09-26
近年來的數(shù)字化技術(shù)發(fā)展，意味著你不需要商學(xué)院的MBA文憑或在對沖基金的工作經(jīng)歷，就能成為一名超級投資巨星。
http://www.forbeschina.com/review/201009/0004105.shtml來源于：福布斯中文網(wǎng)
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麥道夫背后的神秘人巴菲特的中國投資盛宴工程師麥克·寇扎（Mike Koza）在投資方面最重要的激發(fā)因素仍然是他的妻子瑪麗亞（Maria）。
2000年2月，正值網(wǎng)絡(luò)股票泡沫的高峰期，我在《福布斯》雜志上寫了一篇文章，提出了如下問題：“互聯(lián)網(wǎng)會產(chǎn)生下一個巴菲特嗎？”那篇報道描述了在股市瘋狂飆升到最高峰時因跟風(fēng)投資科技股而發(fā)了點(diǎn)小財?shù)囊恍I(yè)余投資者。其中一些人早已辭去了日常工作。可一個多月后，網(wǎng)絡(luò)泡沫破滅了，科技股一路暴跌。那些牛市英雄的盛會結(jié)束了。是這樣嗎？
當(dāng)我寫那篇報道的時候，網(wǎng)上的投資者數(shù)量為500萬，而目前的網(wǎng)上投資者數(shù)量估計已達(dá)5,000萬了。那些曾依靠投資網(wǎng)絡(luò)公司而迅速致富的人雖如曇花一現(xiàn)，但他們不過是日益壯大的自主投資者大軍中的早期成員罷了。
今天，對普通投資者來說，投資的競爭環(huán)境已趨公平。曾經(jīng)只向?qū)I(yè)人員提供的即時信息的獲取以及優(yōu)質(zhì)的投資分析及工具，如今普通投資者只需點(diǎn)擊幾下便可在網(wǎng)上輕松獲得。我們沉陷于數(shù)字技術(shù)之中——從筆記本電腦和黑莓手機(jī)到iPad平板電腦和Droid手機(jī)，這在零售金融服務(wù)方面連續(xù)迅速地催生了許多創(chuàng)新。史考特證券交易公司（Scottrade）的網(wǎng)絡(luò)交易費(fèi)用為每次七美元，富達(dá)證券交易公司（Fidelity.com）的網(wǎng)絡(luò)交易費(fèi)用為每次八美元。需要對沖基金式的資產(chǎn)分析嗎？免費(fèi)網(wǎng)站RiskGrades.com會使用先進(jìn)的計量經(jīng)濟(jì)模型，對你投資組合中的所有資產(chǎn)進(jìn)行一次診斷，告訴你其中每項持有資產(chǎn)是否值得承擔(dān)相應(yīng)風(fēng)險。期望向頂級投資經(jīng)理和分析人士學(xué)習(xí)借鑒嗎？請試試ValueInvestorsClub.com、Alphaclone.com或 SumZero.com網(wǎng)站。
切勿懷疑網(wǎng)絡(luò)工具的威力。2001年，在加州薩克拉門托縣廢物管理部任職的土木工程師邁克爾·寇扎（MikeKoza）決定解雇他的摩根士丹利股票經(jīng)紀(jì)人，因為他投資在高費(fèi)率的共同基金中的10萬美元積蓄收益欠佳?！拔疫^去雇傭了一個提供全方位服務(wù)的股票經(jīng)紀(jì)人，我原以為那是我們應(yīng)該采取的一種投資方式?！爆F(xiàn)年51歲的寇扎說道。
然而，寇扎的妻子瑪麗亞告訴他，他這樣做是很愚蠢的，并催促他成為自主投資者。寇扎于是一頭扎入互聯(lián)網(wǎng)，進(jìn)行研究，他每天在早上上班前、午餐休息時和晚上總計花費(fèi)數(shù)小時來研究股票并大量閱讀公司網(wǎng)上相關(guān)文件和資料。到了周末，他在汽車上收聽他已下載的許多公司的管理層電話會議錄音。9年后的今天，寇扎的股票投資組合已增值到300多萬美元，他和瑪麗亞購買了一幢新的住房和一些投資型物業(yè)。
邁克爾·寇扎這批新一類投資者正是我即將出版的新書——《鄰家巴菲特：你從未聽過的世上最偉大的投資者》（約翰威立國際出版公司，TheWarren Buffetts Next Door: The World's Greatest Investors You'veNever HeardOf）——所描述的對象。自2001年2月以來，寇扎投資組合的年均回報率達(dá)30%，相比之下，根據(jù)Marketocracy.com網(wǎng)站的統(tǒng)計，標(biāo)普500指數(shù)在同期的年均回報僅為0.8%。他的五年期投資表現(xiàn)勝過理柏公司（Lipper）數(shù)據(jù)庫中所有單個股票基金?？茉耐顿Y方式是逆向價值投資結(jié)合困境投資方式——這與億萬富豪大衛(wèi)·泰珀（DavidTepper）和安德魯·比伊爾（Andrew Beal）沒什么不同。
克里斯托弗·里斯（ChristopherRees）是另一位自學(xué)而成的價值投資者，但他持有的股票投資組合只集中于十個股票上：過去十年，他的平均投資回報率為24%。出生于英國的里斯從未上過大學(xué)，成年后大部分時間作為嬉皮流浪者在世界各地到處閑逛，收入僅夠勉強(qiáng)維持生活。如今，他居住在多米尼加共和國的北部海岸，全職從事個人投資。
幾年前，內(nèi)華達(dá)州里諾市（Reno）的杰克·韋蘭德（JackWeyland）發(fā)現(xiàn)，他在選擇生物科技股票方面具有特殊能力。自2002年7月以來，他的股票投資組合的年平均回報率高達(dá)33%。現(xiàn)年33歲的韋蘭德曾是卡車司機(jī)，他曾在運(yùn)輸途中使用筆記本電腦和無線網(wǎng)卡進(jìn)行股票研究。
艾倫·希爾（Alan T.Hill）通過收益型投資，結(jié)合他對在網(wǎng)絡(luò)留言板上一點(diǎn)點(diǎn)收集到的低價格投機(jī)性股票進(jìn)行投資。6年前他聰明地選擇了一個投資股票——哥倫比亞銀行（Bancolombia,S.A.）——為他帶來了意外的豐厚回報，足以讓他在新墨西哥州的普拉西塔斯（Placitas）山區(qū)建造一個土坯風(fēng)格的夢幻住宅。但是現(xiàn)年71歲的希爾可不只是在這一只股票上獲得投資奇跡。自2005年退休以來，他在投資上賺取的錢比他在整個職業(yè)生涯期間賺取的所有收入都要多。
在如今的YouTube和Facebook時代，就讀知名商學(xué)院或者在著名對沖基金工作不再是獲得像沃倫·巴菲特和朱利安·羅伯遜（JulianRobertson）等偉大投資家投資智慧的唯一途徑。如果你知道去哪里尋找，互聯(lián)網(wǎng)到處都有富有傳奇色彩的投資者培訓(xùn)網(wǎng)站。
要成為一名優(yōu)秀的投資者，唯一真正的要求就是要多花時間。向自己投資——開發(fā)你巴菲特式的投資潛能。與以往相比，你更有可能實(shí)現(xiàn)卓越的投資回報，并實(shí)現(xiàn)你的財務(wù)目標(biāo)。
The Forbes 400
Tap Your Inner Buffett
MatthewSchifrin, 09.24.10, 02:40 PMEDT
Forbes Magazine dated October11, 2010
http://www.forbes.com/forbes/2010/1011/rich-list-10-investing-digital-innovation-tap-inner-warren-buffett.htmlYears of digital innovation means you don't need an M.B.A. or hedgefund job to become a superstar investor.
Engineer Mike Koza's most important investing catalyst is still hiswife, Maria.
In February 2000, at the peak of the bubble in dot-com stocks, Iwrote an article in FORBES that posed the question: "Will the Webproduce the next Warren Buffett?" The story profiled amateurinvestors who had made small fortunes in tech stocks during thatcrazy ride to the top of the market. Some had already quit theirday jobs. A little more than a month later the bubble popped, andtech stocks crashed. The party was over for these bull marketheroes. Or was it?
When I wrote that story there were 5 million online investors.Currently there are an estimated 50 million. Those fleetingdot-com-stock millionaires were merely an early wave in thegathering army of self-directed investors.
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EMAILPRINTREPRINTNEWSLETTERCOMMENTSSHAREYAHOO!BUZZToday the playing field has been leveled for ordinary investors.Instantaneous access to information, as well as quality tools andanalytics, once available only to professionals, are a few clicksaway. Our digital immersion--from laptops and BlackBerrys to iPadsand Droids--has spawned rapid-fire innovation in retail financialservices. Trades cost $7 at Scottrade, $8 at Fidelity.com. Wanthedge-fund-style analytics? The free site RiskGrades.com will run adiagnostic on all the assets in your portfolio using sophisticatedeconometric modeling to tell you if each holding is worth the risk.Looking to learn from the topflight managers and analysts? TryValueInvestorsClub.com, Alphaclone.com or SumZero.com.
Don't doubt the power of Web tools. In 2001 Michael Koza, a civilengineer working in the waste management department in SacramentoCounty, Calif., decided to fire his
MorganStanley(
MS -
news -
people )stockbroker because his $100,000 nest egg was languishing inhigh-fee mutual funds. "I had a full-service broker because Ithought that was the way you were supposed to do it," says Koza,now 51.
But Koza's wife, Maria, had told him he was crazy and urged him tobecome a do-it-yourselfer. Koza immersed himself in Web research,spending hours each morning before work, during lunch breaks andevenings looking into stocks and devouring company documentsonline. On the weekends he listened to downloaded recordings ofmanagement conference calls in his car. Nine years later the Kozas'stock portfolio has grown to more than $3 million, and Michael andMaria have purchased a new home and several investmentproperties.
Michael Koza is one of a new breed of investors I write about in aforthcoming book, The Warren Buffetts NextDoor: The World's Greatest Investors You've Never HeardOf (John Wiley & Sons). SinceFebruary 2001 his average annual portfolio return has been 30%,compared with 0.8% for the S&P 500, according toMarketocracy.com. His five-year performance trumps every singlestock fund in Lipper's database. Koza's approach is a mix ofcontrarian value and distressed investing--not unlike that ofbillionaires David Tepper and Andrew Beal.
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Christopher Rees is another self-taught value investor but runs aconcentrated portfolio of only ten stocks; his average annualreturn for the last decade is 24%. British-born Rees never attendedcollege and spent most of his adult life as a hippie vagabond,traveling around the globe earning just enough to get by. Today heinvests full-time from the north coast of the DominicanRepublic.
Several years ago Jack Weyland of Reno found he had a knack forpicking biotech stocks. He's logged an average annual return of 33%on his stock portfolio since July 2002. Weyland, now 33, is aformer trucker who used his laptop and a wireless card while on theroad to research stocks.
Alan T. Hill thrives on a mix of yield investments and low-pricedspeculative stocks he gleans from messageboards (see
"Peer-to-PeerProfits"). Six years ago a single smartstock pick--Bancolombia, S.A.--created enough of a windfall for himto build an adobe-style dream home in the hills of Placitas, N.M.But Hill, 71, is no one-stock wonder. Since retiring in 2005 he ismaking more money investing than he ever did during his career.
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