我从达尔文那里学到的投资知识 What I Learned About Investing from Darwin

基本信息

Format:Hardback 328 pages, 18 figures, 15 tables

Publisher:Columbia University Press

Imprint:Columbia University Press

ISBN:9780231203487

Published:23 May 2023

Weight:698g

Dimensions:242 x 167 x 29 (mm)

页面参数仅供参考，具体以实物为准

书籍简介

投资行业正处于一种危机状态。绝大多数股票基金经理都无法长期战胜市场，这导致大量资金从主动基金流出，转向被动基金。投资者应该到哪里去寻找新的方法？

普拉克-普拉萨德提供了一种基于意外来源的耐心长期投资哲学：进化生物学。他从达尔文的核心概念中吸取了关键的教训，将自然界的生动例子与令人信服的好的和坏的投资决定的故事混合在一起--包括他自己。大黄蜂的生存策略如何帮助我们接受我们可能错过特斯拉的事实？培育驯服狐狸的实验对成功企业的特征有什么启示？为什么一只小青蛙模仿一个大对手的呱呱叫声可以揭示出企业不诚实的迹象？

在成功的进化战略的启发下，普拉萨德概述了他的反直觉的长期收益原则。他提供了三条投资箴言： 避免大的风险；以合理的价格购买高质量的产品；不要懒惰--要非常懒惰。普拉萨德提出了一个有说服力的理由，即排除绝大多数的投资机会，主张拥有高质量的企业。

《我从达尔文那里学到的投资知识》结合了生动的散文和实用的洞察力，揭示了为什么进化生物学可以帮助基金经理在他们的技艺方面变得更好。

The investment profession is in a state of crisis. The vast majority of equity fund managers are unable to beat the market over the long term, which has led to massive outflows from active funds to passive funds. Where should investors turn in search of a new approach?

Pulak Prasad offers a philosophy of patient long-term investing based on an unexpected source: evolutionary biology. He draws key lessons from core Darwinian concepts, mixing vivid examples from the natural world with compelling stories of good and bad investing decisions―including his own. How can bumblebees’ survival strategies help us accept that we might miss out on Tesla? What does an experiment in breeding tame foxes reveal about the traits of successful businesses? Why might a small frog’s mimicry of the croak of a larger rival shed light on the signs of corporate dishonesty?

Informed by successful evolutionary strategies, Prasad outlines his counterintuitive principles for long-term gain. He provides three mantras of investing: Avoid big risks; buy high quality at a fair price; and don’t be lazy―be very lazy. Prasad makes a persuasive case for a strategy that rules out the vast majority of investment opportunities and advocates permanently owning high-quality businesses.

Combining punchy prose and practical insight, What I Learned About Investing from Darwin reveals why evolutionary biology can help fund managers become better at their craft.

作者简介

普拉克-普拉萨德是纳兰达资本的创始人，这是一家总部设在新加坡的公司，投资于印度的上市股票，管理着大约50亿美元。他曾是全球私募股权公司华平的印度区联合主管，并在管理咨询公司麦肯锡工作过几年。

Pulak Prasad is the founder of Nalanda Capital, a Singapore-based firm that invests in listed Indian equities and manages about $5 billion. He was previously the cohead of India for Warburg Pincus, a global private equity firm, and worked at the management consulting firm McKinsey for several years.