This comment by Warren Buffett gives his insight into the nature of value invest

This comment by Warren Buffett gives his insight into the nature of value investing and the propensity of investors. It can be interpreted as follows:

1. Intuitiveness of Value Investment

Buffett believes that the concept of value investing is inherently simple and intuitive. The basic principle of value investing, which is to earn long-term returns by buying stocks at a price lower than a company's intrinsic value, is not a complex theory, but a common sense concept.

2. Fundamental differences in investment propensity

This suggests that investors have fundamentally different tendencies. Some immediately understand and accept the principle of value investing, while others do not understand or accept it at all.

3. The Stickiness of Investment Philosophy

Buffett believes that investors' basic investment philosophy and approach do not change easily. It is very rare that a person who does not understand value investing gradually turns into a value investor over time.

4. the practical difficulties of value investment

The concept of value investing is simple, but practicing it is not easy. Withstanding short-term volatility and psychological pressures in the market and maintaining a long-term perspective is a challenge for many investors.

5. the limitations of investment education

This implies the limitations of value investing education or persuasion. Understanding and implementing the principles of value investing is not just a matter of knowledge, but more deeply related to the temperament and disposition of investors.

In conclusion, Buffett emphasizes that value investing is a simple and in-depth concept, and that truly understanding and implementing it is related to an investor's fundamental disposition. Additionally, because investment philosophy does not change easily, it implies that value investing requires intuitive understanding and acceptance of the concept from the outset.