Exploring the investment secrets behind the "investor"

After 5 years of talking with Warren Buffett for nearly 2000 hours, after browsing through his large number of personal letters, Allis Schroeder with a "snowball" book to lead the readers approached that full of legendary, mysterious "Warren" Buffett.　　Reporters recently interviewed Schroeder about the topic of investor concern.　　If Buffett as the benchmark of investors and model, in the view of Schroeder, Mr. Buffett has four characteristics of all successful investors must have. First, Buffett is a very focused person. Second, Buffett has a very strong ability to grasp the numbers and super memory. Third, Buffett is very good at making judgments about people. And this kind of human judgment, not by intuition, nor innate, but in the acquired learning and training.　　Finally, Buffett stressed the study, every day to read more than five newspapers, to understand the situation of thousands of enterprises. As a successful investor in a mature market, will Buffett's investment experience and value-investing rules also apply to emerging markets such as China?　　Schroeder gave a positive answer to the question without hesitation. Schroeder pointed out that the current situation of Chinese enterprises and China's capital market development, similar to the United States in the 50 's.　　The presence of a large number of small companies makes it possible for investors to become "expert" investors in a particular company and find investment opportunities that others have not found. "Now many people say that the Chinese market in the stock is more expensive, the market has experienced a sustained sharp rise." But Schroeder believes that there will still be some relatively cheap stocks in the market, "Investors must buy stocks when investing, rather than buying the city." When it comes to Buffett's prized idea of value investing, Schroeder tells reporters that value investing is not a truth that all investors are allowed to put. There are three types of investors who are not suitable for value investing: fund managers of public funds, retired or retired seniors, and people who borrow money to invest.