I have read both Buffett and Munger's books when I was only seventeen or eighteen, one is (The Snowball), the other is (Poor Charlie's Almanack).
One book taught me about long slopes and thick snow, the compounding of life; the other book taught me about reverse thinking and diverse models.
Power vs Capital
In the investment world, there are two types of people who can 'draw' K-lines.
One is nation-building.
In the 2025 market, with his return, global assets are dancing to the tune of his tweets and zc expectations.
The lines he draws are the 'heartbeat line', intense, direct, and full of emotional fluctuations.
With the favorable factors of zc, his media company or related assets may double in a few days, earning tens of billions of dollars.
But another type of 'drawing lines' is at a higher level; it is Buffett-style.
He never operates software, nor does he even look at intraday charts, but through a secret meeting at the Tokyo Four Seasons Hotel, he can indirectly outline the main upward wave of the Japanese stock market for the next five years.
This is not just about making money; it is about reshaping consensus.
2020: The 'miracle' of the Tokyo Four Seasons Hotel.
Going back to August 2020, the world was still shrouded in the shadow of the pandemic.
Buffett, however, made a decision that left Wall Street exclaiming 'incomprehensible': he heavily invested in Japan's five major trading companies.
At that time, executives from various trading companies gathered at the Tokyo Four Seasons Hotel, lining up to meet the Omaha elder who had come from afar.
At that time, the Japanese stock market was seen as a quagmire of the 'lost thirty years.'
Analysts presented elegant PPTs arguing Japan's aging population and economic stagnation, concluding with one message: not worth investing.
However, the reason a myth is a myth is that he saw the reconstruction of the 'underlying logic':
Extremely undervalued: At that time, the stock prices of the five major trading companies were below their book value, with extremely high dividend rates.
An endless stream of leverage: Buffett buys stocks by issuing yen bonds at extremely low interest rates in Japan, which is essentially **'playing a hand without a hand.'**
Resource monopoly: Trading companies control Japan's energy, minerals, and food, making them a true safe haven against inflation.
800% and 40 billion: The violent aesthetics of compound interest.
Four years later, those who once mocked him were completely silent.
Among the five major trading companies that Buffett invested in, the most remarkable company recorded a gain of over 800%.
Even the most mediocre performer, Itochu, had a return of 280%. What does this mean? It means that Buffett's 'idle chess' has already brought over 40 billion dollars in stock value to Berkshire Hathaway.
Comparing to Wall Street: The vast majority of hedge funds have failed to outperform even the Japanese market in the past five years.
Comparing the 'myth of compound interest': Buffett's 18% compound growth rate over decades may seem unremarkable, but when scaled to hundreds of billions, it becomes a nuclear weapon.
The operation of establishing a nation in 2025 was as fierce as a tiger, earning tens of billions in book wealth; while Buffett's nod at the Four Seasons Hotel allowed profits of billions of dollars to flow as naturally as breathing.
Berkshire's underlying logic: the bullets are always sufficient.
Buffett's confidence in being able to 'draw lines' lies not only in his vision but also in the ever-erupting cash volcano he holds.
The hundreds of billions of dollars in cash lying on Berkshire Hathaway's balance sheet is not for defense, but to have the power to 'modify the K-line' when everyone is afraid.
When he bought into Japan, he was actually giving global investors a shot of epinephrine, redirecting funds back to that forgotten market.
He didn't need to directly manipulate stock prices; he just needed to leverage his credit and cash, and the market would automatically complete the remaining gains.
The elevation of cognition.
The nation being established draws the '局' (situation), while Buffett draws the '势' (momentum).
In this era filled with volatility and noise, many people are obsessed with capturing the next 'national concept stock,' trying to find short-term profits amid drastic fluctuations.
But true top investors are learning how to, like Buffett, in quiet hotel rooms, gain profound insights into macro cycles and underlying logic to 'indirectly' draw that long bull curve spanning several years.
In this world, many can outperform Wall Street, but only one can make time his friend.
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