American Fortune Life

Warren Buffett, Omaha, Nebraska, is watching live interviews on television.

When he heard Andy Smith say, "He would prefer to publish that article a few months later," he was not surprised, but had to shake a layer of ripples, and his expression grew more and more condensed and his eyebrows wrinkled.

Twice his fingers trembled, picking up the phone on the desk and dialing out, "Old man, are you watching Andy Smith's interview? ”

“ I just want to tell everyone not to let your spirit go bankrupt! ”

At this time, in the Oval Office of the White House, O'Guanhai sat on his desk, his economic advisors sat on the couch on both sides, watching Andy Smith's serious expression on TV, and the phrase appeared slightly at this point.

“If you declare a mental bankruptcy, you will lose everything.” It was the words of the son of the oil tycoon Rockefeller, who encouraged investment failure, and a famous quote well known to all Americans as encouragement.

On March 8th, this Sunday morning, viewers across the United States watching the NBC Today Show interview sat quietly in front of the television and listened to the economic views of the youngest super-rich man to create 10 billion dollars in the shortest time of the century.

“ As I said, for stock investors, every time they plummet, firm investment information and overcoming fear seem to be a pair of twins, tormenting us forever.

But, yes, it's very simple to say, "Well, the next time the stock market goes down, I'm going to ignore all that pessimistic news, and I'm going to take the opportunity to buy some really bad stock. ”

But it's not easy, because every crisis seems more serious than the last one, and it's getting harder and harder to ignore the pessimistic news.

So, firm confidence is more important than anything!

You may be the world's most powerful financial analyst or stock valuation expert, but if you're not confident, you'll easily believe the pessimistic predictions of those news stories and throw them in panic in the stock market... ”

In the face of chatter, the boss who controlled the rhythm of the interview, as the Ace host Matt Raul was helpless, although he didn't dare to grab the lead, he couldn't keep the boss talking to himself, which was really a waste of seconds.

“Mr. Smith, what do you say about confidence? After all, in front of the current stock market, no confidence can counteract the downward panic.” Andy was interrupted, not unhappy, but very appreciative of Matt Raul's reaction and timing, which was an interview after all, not his Andy Smith speech.

“This confidence has always been that the United States will continue to exist, that people will continue to live normally and, as usual, wear one leg before the other in the morning when they start wearing trousers, and that the trousers companies will continue to make money for their shareholders. ”

When Andy said those words, his ten fingers crossed his hands, his eyebrows picked out slightly, and in a slightly toned tone, not only made Matt Raul laugh softly when he heard the conversation, but the staff in attendance also smiled slightly.

And all the viewers in front of the TV were laughing at Andy's humorous words, and they couldn't help but relax.

Andy saw that the effect had been achieved, and he couldn't help but slightly raise his voice and continue to say... Believing that old businesses will eventually lose their vitality and be eliminated, dynamic businesses like Wal-Mart, FedEx, Apple, etc. will be replaced.

Believe that the American people are a hard-working and creative people!

It is even believed that even for those apprentices, who have well-paid professional work and wealthy material lifestyles, if they are lazy and do not work hard, will be severely criticized. “

“I have no doubt about that!” Matt Raul was also bewitched by Andy's words, not to mention the American people in front of the television, and how many families applauded the inspiring words, just like the one in the Oval Office of the White House at this time.

“Oh, as for what you said about confidence not being able to counteract the panic caused by the successive falls in the stock market, it doesn't seem to me a big deal!” Andy's indifferent look, coupled with a relaxed handshake, made everyone feel irresistible. After all, America's plummeting makes it hard to sleep every day.

“I'm not kidding. There's nothing to be surprised about the stock market falling.” Andy slightly stretched his hand, shrugging his shoulders up in the corner of his mouth, and said softly, "Because this always happens again and again, just like the winter in Minnesota is coming again and again, isn't it normal?

If you lived in cold climates, you'd be used to predicting in advance that temperatures would drop to freeze, then when outdoor temperatures dropped below zero, you wouldn't be panicking about the next ice age, would you?

And by then, you'll be wearing a leather coat, sprinkling salt on the sidewalk, preventing ice frozen... soeasy, and you'll be so comforted, and winter will come, and spring will be far away? The weather will warm up again! ”

Andy's shallow, easy-to-understand metaphor caught the people who watched the interview all over the United States in contemplation, but when there was still some confusion in their minds, TV host Matt Raul asked their voices.

“Mr. Smith, seasonal change is regular, and the panic about the stock market stems precisely from its unpredictability... ”

When I asked that, Matt Raul realised violently that he screwed up, Nima, not one of the previous questions, the damn occupational disease, used to asking guests...

At this moment, other staff also realized that there had been an accident, and one of them looked very nervous and still smiled at the big boss.

Andy was suddenly pressed into questioning by Matt Raul, and he was stunned, but only momentarily recovered, and with the answers, he gave Matt Raul a reassuring look of panic.

“OK, we can't predict the future of the stock market, but some of the laws are still on track. Let's not talk about the rules, but I want to start by telling you about some data. In the 70 years that stock investment returns have beaten other types of investment, there have been 40 major falls in U.S. stocks of over 10 percent.

Thirteen of these 40 major falls were horrific, falling even more than 33 per cent, one of the largest ever, and the stock market collapsed between 1929 and 1933. ”Here, Andy paused slightly, and in order to increase his persuasiveness, he directly applied PR techniques that he had learned by surprise when attending a hearing, slowing down his speech, spewing clearly, and leaving a pause for reflection.

“I believe that the painful memories of the 1929 stock market crash were devastating and far outweighed the effects of other factors, even ultimately shifting millions of investors away from the stock market to the bond and currency markets.

Even after 60 years, this supermassive catastrophe has raised fears about the stock market, even among those of our generation who could only learn about it through books in 1929.

Far away from the stock market, if investors suffer from a post-stock market trauma syndrome, the economic costs are too high.

Worse still, after the famous stock market crash in 1929, the Great Depression ensued, and people linked stock market crashes to economic collapses. It is still believed that a stock market crash will trigger an economic collapse.

This misconception has been deeply ingrained in the eyes of the public, although it has since proved otherwise.

For example, the sharp fall in the stock market in 1972, quite comparable to the sharp collapse of the stock market in 1929, was very serious, but did not trigger an economic collapse. There was also a sharp fall in the stock market in 1987 and no economic collapse. ”

When Andy said this, he suddenly paused, and changed his previous comfortable posture, sat upright, looked sharply and brightly at the camera lens, and said seriously, "Maybe there will be a bigger stock market plunge in the future, but since I can't predict when the stock market will plunge at all, and as far as I know, no investment specialist in the world dares to guarantee that they can predict, how can we imagine that each of us can be prepared in advance from the plunge?

Imagine if, of the 40 stock market crashes that have occurred in the past 70 years or more, 39 of them were predicted in advance and all stocks were sold before the crash? You know, even in the biggest stock disaster, the stock price eventually came back up and even higher! And you left the stock market out of fear...

This plunge is only the 14th time in history, and there's nothing to be surprised about.

So, if this kind of stock market recovery is inevitable, it always happens in a while, why panic?

Don't you think?

Failure is a learning experience, and you can turn it into a headstone, or you can turn it into a stepping stone. It's up to you to decide how to choose! ”