Para Warren Buffett, dinheiro na mão não tem preço
Lógico que não é pra guardar embaixo do colchão, mas para ficar atento e, quando a oportunidade aparecer, agir com agressividade.
“This is one of the most important things I learned from him: the optionality of cash. He thinks of cash as a call option with no expiration date, an option on every asset class, with no strike price.”
Suddenly, an investor’s asset allocation decisions are not simply between earning nothing in cash and earning something in bonds or stocks. The key question becomes: How much can the cash earn if I have it when I need it to buy other assets that are cheap, versus the upfront cost of holding it?
Vale a pena ler a íntegra:
Nenhum comentário:
Postar um comentário