The Study Of Warren.E.Buffet's Great Investments History

I've been exploring and analyzing the development of the internal equity investment for a long time.In internal capital market, most investors chase after pop topics and make sensitive to macro-control policies,easy to ignore the intrinsic value of investment object and the rationality of asset prices.Compare with the mature foreign market, there are more short-term,blindfold and speculative. According to the essential meaning of value and investment, I proposed an investment concept-long-term equity investment.The long-term equity investment is an investment philosophy that pursues greater certainty of longer term.In this article, I presents a business model for controlled and investment entities.The operational entities in this model invest using the concept and strategies of long-term equity investments,using long-term fund-usually their own funds or the remaining cash of holding companies,not the short-term interest funds.The strategic investment object is the enterprise or its partial interest with long-term competitive advantage.Enterprises with a long-term competitive advantage have a high level of shareholder's equity rate of return for a long period.Usually, outstanding businesses are in traditional industries which have a relatively stable pattern of competition,its business model and product features easy to understand.These features not only help enterprises to achieve a continuous high level of performance for decades,but also make the highest certainty prediction of its future performance compared with other types of companies.By using the theoretical and empirical analysis methods,I attempt to analyze the internal essential and external refletion for long-term competitive advantage of investment objects in the view of strategic management and marketing through innovative manner, and evaluate investment objects through further analyzing its financial targets.The paper is divided into five chapters, presents the discussion of the key elements of the long-term equity investment from several aspects.The first chapter briefly describes the status of the internal equity investment, proposes the long-term equity investment philosophy, which has a higher valuation certainty and a higher success rate.The second chapter discusses the core features of the long-term equity investment object,including the internal essential and the external refletion for long-term competitive advantage,the brand value and pricing power. Chapter III expatiates the analyse method for the financial targets of the investment objects, quantitatively analyzes the operational quality and effectiveness of investment targets.The fourth chapter focused on the profit distribution decision-making of investment targets,and describes the business model of long-term interests and its virtuous cycle of continuous growth.The fifth chapter discusses how the entities choose the assets that meet the investment criteria of long-term equity investmentin the right way and timely.