[{"data":1,"prerenderedAt":1764},["ShallowReactive",2],{"library-ba-fei-te-2017nian-dui-hua-bei-jing-da-xue-xue-sheng-zui-hao-de-tou-zi-shi-tou-zi-zi-ji":3,"library-sidebar-buffett":227,"library-sidebar-dao":1230,"library-sidebar-models":1532},{"id":4,"title":5,"body":6,"category":213,"date":214,"description":215,"extension":216,"meta":217,"navigation":218,"order":219,"path":220,"seo":221,"seoDescription":215,"seoTitle":222,"slug":223,"stem":224,"__hash__":225,"_collection":226},"buffett\u002Fbuffett\u002Finterview\u002Fba-fei-te-2017nian-dui-hua-bei-jing-da-xue-xue-sheng-zui-hao-de-tou-zi-shi-tou-zi-zi-ji.md","巴菲特：2017年对话北京大学学生：最好的投资是投资自己",{"type":7,"value":8,"toc":210},"minimark",[9,13,17,20,27,30,36,39,44,47,50,55,58,63,66,69,75,80,83,88,91,96,99,104,110,115,120,123,126,129,134,141,146,152,157,160,163,168,174,179,182,187,190,196,201,204,207],[10,11,5],"h1",{"id":12},"巴菲特2017年对话北京大学学生最好的投资是投资自己",[14,15,16],"p",{},"2017年2月17日",[14,18,19],{},"美国中部时间 2 月 17 日，全球知名的“巴菲特午餐”访问活动在沃伦巴菲特的家乡奥马哈举行，这顿“免费”的午餐正是该访问活动中的一个环节。北京大学是中国大陆第一家受巴菲特办公室邀请参加该活动的大学。来自北京大学光华管理学院的 20 名学生代表参加了此次访问活动，并向巴菲特提问。",[14,21,22],{},[23,24],"img",{"alt":25,"src":26},"","\u002Fcontent\u002Fbuffett\u002Finterview\u002Fimages\u002Fimage_5186959125811745089.png",[14,28,29],{},"在长达 4 小时的午餐中，巴菲特和青年学子交流了很多精彩的话题。据了解，每年申请参与“巴菲特午餐”访问活动的全球知名商学院不少于 200 所。此次，共计 8 所大学受邀，包括加州大学伯克利分校、芝加哥大学、威斯康星大学等。北京大学光华管理学院依托北京大学深厚的历史底蕴和文化积淀，作为北大工商管理教育的主体，是亚太地区最优秀的商学院之一，在众多商学院中脱颖而出，是此次中国唯一一家受邀全程参与 2017 年“巴菲特午餐”访问活动的商学院。",[14,31,32],{},[33,34,35],"strong",{},"Q1：您对在中国投资有兴趣吗？如果在中国投资的话，最看好哪个行业？",[14,37,38],{},"**巴菲特：**中国是一个很大的市场，具有非常多的可能性。我和我的合作伙伴查理芒格有很多关于中国的讨论和研究，我们注重公司的价值而非股票价格，希望购买下整个企业以进行运营。在过去的 50 年，中国人口飞速发展，人口红利巨大。一些波折并不会影响中国发展的脚步。中、美将来会是两大经济强国。如果在中国能找到合适的行业、合适的时间、合适的管理团队，我们会毫不犹豫的投资。",[14,40,41],{},[33,42,43],{},"Q2：您既是世界上最富有的人之一，也是最慷慨的人之一。您是如何看待财富的？这种观念是一开始就有的，还是逐渐建立起来的？",[14,45,46],{},"**巴菲特：**这是个好问题，我们来谈谈金钱。金钱很有用，但它买不到两样东西：时间和爱。我有一样东西可以算作奢侈品——私人飞机，其他东西都和你们一样。在超过某个特定节点之后，金钱就失去它的效用了。慈善可以改变很多人的生活，我和我太太都认为我们应该把金钱用在解决社会问题上。比如美国的大学有很多资金，而非洲的疾病治疗资金却很短缺。",[14,48,49],{},"金钱可以带来很多有趣的体验，我享受投资。但是，拥有更多的东西不见得会更快乐。金钱无法买来爱，当人们试图通过金钱去控制自己的孩子时，可能会带来灾难性的结果。我认为照顾好家人是很重要的。",[14,51,52],{},[33,53,54],{},"Q3：比尔盖茨曾说您是他认识的最乐观的人。您认为自己是乐观的人吗？乐观是与生俱来还是后天培养的？",[14,56,57],{},"**巴菲特：**乐观对于一个好投资者来说是至关重要的品质。现在与三个世纪前的杰斐逊时期相比，人口、交通、经济制度、政府、法治等各个方面都发生了巨大的变化和进步。人们并没有更聪明，或更努力，而是学会更好地利用自己的潜能。现在这个房间里的任何一个人都比过去最富有的人生活得好，享受着更好的医疗、更好的娱乐……变好的趋势还会延续下去，我们的孩子会生活得比我们更好。面对这种社会的进步，我怎能不乐观呢？乐观的就是现实的。",[14,59,60],{},[33,61,62],{},"Q4：如果您成为了总统，会如何制定移民政策？",[14,64,65],{},"**巴菲特：**美国一直对移民抱有开放欢迎的态度，这也是美国能走到今天的重要原因。谷歌等美国企业的成功离不开移民的贡献。",[14,67,68],{},"1930 年代，有两位犹太裔移民为了躲避德国纳粹来到美国，成为美国公民。他们就是阿尔伯特•爱因斯坦和利奥•西拉德。1939 年，他们向时任美国总统的罗斯福写了一封信，提及德国正在研究核武器，建议美国尽早进行相应研究，这封信拯救了美国。如果往近了说，史蒂夫•乔布斯也是移民的儿子。要知道，人气愈旺，市场愈旺。",[14,70,71,72],{},"有些人担忧移民带来的潜在危险。特朗普总统的移民政策对当下这些潜在威胁做出了反应。然而，",[33,73,74],{},"移民们是出于对美国的热爱而选择这个国家。如果美国保持对移民的开放态度，50 年后的美国会更加美好。",[14,76,77],{},[33,78,79],{},"Q5：您过去发现了许多成功的公司。您的投资成为整个市场的风向标，这对您的投资带来怎样的影响？",[14,81,82],{},"**巴菲特：**我与证监会签署了一些保密合约，但公司的投资组合依然遵循证监会信息披露的标准。每一个季度我们都需要公开公司的投资组合。然而我认为，交易决定本身其实也是知识产权。这些公告会推高成本。我尽量不公开我们的交易，减少对市场的影响。",[14,84,85],{},[33,86,87],{},"Q6：你怎么看待报纸行业的发展？",[14,89,90],{},"**巴菲特：**在过去，报纸上的广告是重要的信息来源。而今天，这个行业在走下坡路，分类广告不再那么重要，报纸的发行量在下降，广告收入不断流失。网络的发展加速了报纸的改变。报纸的发行量下降。纽约时报、华尔街日报的在线部分使得他们可以继续发展纸质发行（成本共享），华盛顿邮报也在几年前开始了线上部分。其它大部分报纸还没找到可行的电子收费模式。",[14,92,93],{},[33,94,95],{},"Q7：有哪些事情对您的投资产生了重要的影响？",[14,97,98],{},"巴菲特：本杰明•格林汉姆（Benjamin Graham）的《聪明的投资者》(The intelligent investor)对我的影响很大。我刚开始投资的时候一直侧重技术分析，而这本书彻底改变了我的投资思路，教会我如何理解股票市场。在我看来，商学院教投资只需要两门课：一是如何思考股票。二是如何对股票进行估值。投资策略的准则就在于安全边际(margin of safety)。",[14,100,101],{},[33,102,103],{},"投资的秘诀从未改变。你可以问问自己，首先，你对这笔投资有多肯定？其次，你需要多久达到预想的目标？第三，具体要怎样做？",[14,105,106,107],{},"投资就是买一盘生意。一百万美金可以让你在奥马哈投资三个项目，你会投资什么？你可能会投资快餐店，因为奥马哈的人们每天都需要吃饭。如此种种，你会有一个思路。这也是投资的乐趣所在——你只需要做出决定，而不需要自己亲手去做生意。同时，由于市场价格每天都在改变，也就意味着每一天投资都有不同的机会。",[33,108,109],{},"你要利用市场先生（Mr.Market）的疯狂或愚蠢，而不是被他所影响。",[14,111,112],{},[33,113,114],{},"Q8：您最喜欢的投资是什么？",[14,116,117],{},[33,118,119],{},"巴菲特：有两笔投资是我认为最值得的。",[14,121,122],{},"首先是对自己的投资。任何可以提高你能力的投资都是值得的。年轻时我不擅公众演讲，于是我报了一个 Dale Carnegie（卡内基）课程，提高自己的演讲能力。这让我受用一生。",[14,124,125],{},"另外就是对朋友的投资。一个人交往的朋友会塑造他的人生，如我的合伙人芒格。1951 年我 21 岁，想投资保险公司。可那时我对保险行业一无所知。我在哥伦比亚大学的老师、本杰明•格林汉姆当时在政府员工保险公司(GEICO)任职董事，所以我坐火车去华盛顿找他。可惜我忘记了那是周六，他不上班。公司的一个管理员为我开了门，把我介绍给 Lorimer Davidson。他当时是公司的副总裁。他知道我是格林汉姆的学生，于是与我聊了四个小时，为我讲解了整个保险行业，这改变了我的一生，他成为我一辈子的良师益友。",[14,127,128],{},"曾经我想投资煤矿行业，我会问煤矿公司的朋友，你会买你们公司哪个竞争对手的股票？如果你要沽空某竞争对手的股票，你会沽空谁？为什么？当问一圈后，你对这个行业就基本了解了。这个方法在做市场研究的时候非常有用，因为人们往往更愿意谈论竞争对手。",[14,130,131],{},[33,132,133],{},"Q9：您最近与比尔盖茨先生有一场对人工智能的讨论。您是如何看待人工智能对投资领域以及股票市场的影响的？",[14,135,136,137,140],{},"**巴菲特：**人工智能毫无疑问是会到来的，并将在很大程度上引发一些行业的变革。然而对于投资领域，我不认为人工智能将会对投资决策会有变革式的影响。",[33,138,139],{},"首先，我几年前就开始与一些 AI 领域的专家深入探讨，AI 在某些领域的发展状况还处于瓶颈期，目前尚不足以支持替代人脑思维的功能。当然，最重要的是","，投资并不仅仅是围绕计算。我们了解一家公司及其行业的运营和价值是需要复杂思维和判断的。对于短期投资而言，人工智能可以帮助高效完成很多交易；但对于长期投资，我不认为人工智能会有很大影响。回顾 1987 年，股票市场在一天之内下跌 22%，主要是受程序化主导发生的。我还是坚持认为电脑技术以及人工智能不会对投资界有很大的影响。",[14,142,143],{},[33,144,145],{},"Q10：您如何看待关于企业管理与领导的问题？",[14,147,148,151],{},[33,149,150],{},"巴菲特","：当我们进行企业运营时，不要去模仿别人的做法，要考虑我们自己需要做什么。一个成功的领导者能够把正确的人安排在正确的位置上，并且适时进行管理和跟踪。当然，还要说到做到，只有这样员工才会信任你。",[14,153,154],{},[33,155,156],{},"Q11：信息传播速度的加快，使得市场有效性提升，被错误定价的证券数量减少。这对您的投资有什么影响？",[14,158,159],{},"**巴菲特：**今天相比于 50 年前，市场竞争激烈了很多，但是人们也拥有更快更简单的途径来获取信息。1957 年，我还在学校的时候，主要通过读公司的年报来获取信息。那个时候的年报只包含公司非常基本的财务信息。我有一本 50 年前的信用评级公司穆迪（Moody）的年报（编者注：巴菲特拿出一般很厚的书）读到第 1433 页，是国家西方人寿保险公司（NWLI）的公年报。据报告所述，1950 年，NWLI 每股收益 21.66 美元，一年之后是每股 29.09 美元。此前 12 个月，这只个股的交易价在 3 到 13 美元。公司股票交易额非常小，不过那个时候我也只是一个很小的投资者。以前买股票是很麻烦的事情。",[14,161,162],{},"几年前，有人告诉我应该留意韩国。我得到一本花旗的册子，上面每页介绍了一只韩国个股，韩国所有的公开上市公司都列入其中。把这本册子从头读到尾，了解它提供的面值、每股收益等。一般来说股票价格不会告诉你任何事。我可以找出同行业等大概 15-20 家公司，一个下午就找到大约 20 家公司。",[14,164,165],{},[33,166,167],{},"Q12：您认为，一家公司董事会所面临的三个最大的挑战是什么？",[14,169,170,173],{},[33,171,172],{},"巴菲特：我认为他们可能面临的一个挑战是收购","。通常情况下，在一次收购中，CEO 会听取单方面的演示，解释这次收购为什么以及如何发生。我见证了一百多个收购演示，多数收购是不可能发生的。**我的建议是，董事会应该听取两组投资银行家的演示，一组解释为什么交易应该继续，另一组指出为什么交易不应该继续。这可以确保获取的推理是合理的。如果收购不该继续，投资银行家和律师就应该离开并停止交易。这种终止情况不会经常发生，但应该要发生更多。许多 CEO 对于收购知之甚少，但很好地了解收购对他们很重要。",[14,175,176],{},[33,177,178],{},"Q13：您最困难的一次投资经历是什么？",[14,180,181],{},"**巴菲特：**当初我开始投资公司购买股票时，我喜欢购买非常低估值的股票，但是这些公司都不是好公司。我花了 20 年才走出 “捡烟蒂”式投资。估值便宜的公司就像一艘漏水的船。查理告诉我去寻找和投资伟大的企业。US Arrow Air Inc.（航空货运公司）在 1987 年出售价格达到 3000 万美金，而公司却破产过两次。在投资的世界中，不需要担心投资的过错。1922 年 4 月，股市跌去了 27 点，后又反弹 39 点。我把我的所有持仓在反弹时卖掉了，然后市场后来上升了 200 多点。",[14,183,184],{},[33,185,186],{},"Q14：这个问题是关于银行业监管的，银行希望监管放松，然而如何去平衡监管与行业的增长？",[14,188,189],{},"**巴菲特：**有一篇文章详细的回答了您的问题，在 Tim Geithner 发表关于风险的担忧。1.银行是否遵从他们应符合的行为。2.联邦存款保险公司（FDIC）是一家政府公司，为储户提供存款保险。当银行破产后，仍然是纳税人为这些费用买单。",[14,191,192,193],{},"我们现在可能比过去更容易受到金融冲击。在 2008 年 9 月，大于 35 亿美金的市值蒸发。现在我们必须懂得如何处理市场恐慌。国会现在拥有更大的权利。唯一的办法就是委任一位有公信力的人。例如，美联储主席。35 亿美金的货币市场基金可以让整个市场瘫痪。当人们害怕时，每个人都涌向出口。然而当人们的信心恢复时，却需要一个一个的恢复。从某种意义上来说，我们需要监管当最坏情况的发生，我们需要联邦存款保险公司来支持和稳定银行系统。",[33,194,195],{},"我们的市场没有美联储是无法运转的。",[14,197,198],{},[33,199,200],{},"Q15：如果您在 2017 年毕业，您会如何从零开始建立职业生涯？",[14,202,203],{},"**巴菲特：**当我感到有信心时，我选择了两位基金经理来到伯克希尔·哈撒韦，他们现在每人管理 100 亿美金。这两位基金经理有一些特质是非常稀有的。他们没有过去的成绩记录。当我毕业后，我总是会选择一个职业，是当我不需要工作时也会去做的职业。我不希望我梦游般的上班，而我也不会太在意我的起薪。我会选择那些我喜爱的，让我有激情的工作。如果不是这样的话，我只会不断地看着时钟等待下班。对于 MBA 学生，我建议大家毕业前着重培养商业思维，以及掌握如何评估公司价值。",[14,205,206],{},"备注：美国中部时间 2 月 17 日，全球知名的“巴菲特午餐”访问活动在沃伦巴菲特的家乡奥马哈举行，这顿“免费”的午餐正是该访问活动中的一个环节。此次，共计 8 所大学受邀，包括加州大学伯克利分校、芝加哥大学、威斯康星大学等。北京大学是中国大陆第一家受巴菲特办公室邀请参加该活动的大学。",[14,208,209],{},"（全文完）",{"title":25,"searchDepth":211,"depth":211,"links":212},2,[],"访谈与文章",null,"巴菲特接待北京大学学生访问，强调最好的投资是投资自己，培养技能与品格比追逐短期财富更重要。","md",{},true,121,"\u002Fbuffett\u002Finterview\u002Fba-fei-te-2017nian-dui-hua-bei-jing-da-xue-xue-sheng-zui-hao-de-tou-zi-shi-tou-zi-zi-ji",{"title":5,"description":215},"巴菲特：2017年对话北京大学学生：最好的投资是投资自己｜巴菲特","ba-fei-te-2017nian-dui-hua-bei-jing-da-xue-xue-sheng-zui-hao-de-tou-zi-shi-tou-zi-zi-ji","buffett\u002Finterview\u002Fba-fei-te-2017nian-dui-hua-bei-jing-da-xue-xue-sheng-zui-hao-de-tou-zi-shi-tou-zi-zi-ji","_E0mptPe6rZ5aRBn9o7UjdPDglRuz1g3INur5frUNlc","buffett",[228,233,236,240,243,246,249,253,256,259,263,266,269,273,276,279,283,286,289,293,296,299,303,306,309,313,316,319,323,326,329,333,336,339,343,346,349,353,356,359,363,366,369,373,376,379,383,386,389,393,396,399,403,406,409,414,417,420,424,427,430,434,437,440,444,447,450,454,457,460,464,467,470,474,477,480,484,487,490,494,497,500,504,507,510,514,517,520,524,527,530,534,537,540,544,547,550,554,557,560,564,567,571,574,578,581,585,588,592,595,599,602,606,609,613,616,620,623,627,630,634,637,641,644,648,651,655,658,662,665,669,672,676,679,683,686,690,693,697,700,704,707,711,714,718,721,725,728,732,735,739,742,746,749,753,756,760,763,767,770,774,777,781,784,788,791,795,798,802,805,809,812,816,819,823,826,830,833,837,840,844,847,851,854,858,861,865,868,872,875,879,882,886,889,893,896,900,903,907,910,914,917,921,924,928,931,935,938,942,945,949,952,956,959,963,966,970,973,977,980,984,987,991,994,998,1001,1005,1008,1012,1015,1019,1022,1026,1029,1033,1037,1041,1045,1049,1053,1057,1061,1065,1069,1073,1077,1081,1085,1089,1093,1097,1101,1105,1109,1110,1114,1118,1122,1126,1130,1134,1138,1142,1146,1150,1154,1158,1162,1166,1170,1174,1178,1182,1186,1190,1194,1198,1202,1206,1210,1214,1218,1222,1226],{"title":229,"slug":230,"category":231,"order":232},"1956 有限合伙协议","1956-you-xian-he-huo-xie-yi","致合伙人信",1,{"title":234,"slug":235,"category":213,"order":232},"巴菲特：1951年最看好的股票：GEICO 保险","ba-fei-te-1951nian-zui-kan-hao-de-gu-piao-geico-bao-xian",{"title":237,"slug":238,"category":239,"order":232},"1994年伯克希尔股东大会","1994nian-bo-ke-xi-er-gu-dong-da-hui","股东大会",{"title":241,"slug":242,"category":231,"order":211},"1957 巴菲特致合伙人信","1957-ba-fei-te-zhi-he-huo-ren-xin",{"title":244,"slug":245,"category":213,"order":211},"巴菲特：1953年我最看好的股票：西部保险","ba-fei-te-1953nian-wo-zui-kan-hao-de-gu-piao-xi-bu-bao-xian",{"title":247,"slug":248,"category":239,"order":211},"1995年伯克希尔股东大会","1995nian-bo-ke-xi-er-gu-dong-da-hui",{"title":250,"slug":251,"category":231,"order":252},"1958 巴菲特致合伙人信","1958-ba-fei-te-zhi-he-huo-ren-xin",3,{"title":254,"slug":255,"category":213,"order":252},"巴菲特：1957年我最看好的股票：人寿保险","ba-fei-te-1957nian-wo-zui-kan-hao-de-gu-piao-ren-shou-bao-xian",{"title":257,"slug":258,"category":239,"order":252},"1996年伯克希尔股东大会","1996nian-bo-ke-xi-er-gu-dong-da-hui",{"title":260,"slug":261,"category":231,"order":262},"1959 巴菲特致合伙人信","1959-ba-fei-te-zhi-he-huo-ren-xin",4,{"title":264,"slug":265,"category":213,"order":262},"巴菲特：1957年最看好的股票：油气资产管理公司","ba-fei-te-1957nian-zui-kan-hao-de-gu-piao-you-qi-zi-chan-guan-li-gong-si",{"title":267,"slug":268,"category":239,"order":262},"1997年伯克希尔股东大会","1997nian-bo-ke-xi-er-gu-dong-da-hui",{"title":270,"slug":271,"category":231,"order":272},"1960 巴菲特致合伙人信","1960-ba-fei-te-zhi-he-huo-ren-xin",5,{"title":274,"slug":275,"category":213,"order":272},"巴菲特：1972年巴菲特谈喜诗糖果","ba-fei-te-1972nian-ba-fei-te-tan-xi-shi-tang-guo",{"title":277,"slug":278,"category":239,"order":272},"1998年伯克希尔股东大会","1998nian-bo-ke-xi-er-gu-dong-da-hui",{"title":280,"slug":281,"category":231,"order":282},"1961 巴菲特致合伙人信","1961-ba-fei-te-zhi-he-huo-ren-xin",6,{"title":284,"slug":285,"category":213,"order":282},"巴菲特：1974年击球啊,你这个笨蛋","ba-fei-te-1974nian-ji-qiu-a-ni-zhe-ge-ben-dan",{"title":287,"slug":288,"category":239,"order":282},"1999年伯克希尔股东大会","1999nian-bo-ke-xi-er-gu-dong-da-hui",{"title":290,"slug":291,"category":231,"order":292},"1961年中 巴菲特致合伙人信","1961nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",7,{"title":294,"slug":295,"category":213,"order":292},"巴菲特：1976年巴菲特谈GEICO","ba-fei-te-1976nian-ba-fei-te-tan-geico",{"title":297,"slug":298,"category":239,"order":292},"2000年伯克希尔股东大会","2000nian-bo-ke-xi-er-gu-dong-da-hui",{"title":300,"slug":301,"category":231,"order":302},"1962 巴菲特致合伙人信","1962-ba-fei-te-zhi-he-huo-ren-xin",8,{"title":304,"slug":305,"category":213,"order":302},"巴菲特：1976年怀念恩师格雷厄姆","ba-fei-te-1976nian-huai-nian-en-shi-ge-lei-e-mu",{"title":307,"slug":308,"category":239,"order":302},"2001年伯克希尔股东大会","2001nian-bo-ke-xi-er-gu-dong-da-hui",{"title":310,"slug":311,"category":231,"order":312},"1962年11月 巴菲特致合伙人信","1962nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",9,{"title":314,"slug":315,"category":213,"order":312},"巴菲特：1977年谈通货膨胀","ba-fei-te-1977nian-tan-tong-huo-peng-zhang",{"title":317,"slug":318,"category":239,"order":312},"2002年伯克希尔股东大会","2002nian-bo-ke-xi-er-gu-dong-da-hui",{"title":320,"slug":321,"category":231,"order":322},"1962年12月 巴菲特致合伙人信","1962nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",10,{"title":324,"slug":325,"category":213,"order":322},"巴菲特：1979年谈股市","ba-fei-te-1979nian-tan-gu-shi",{"title":327,"slug":328,"category":239,"order":322},"2003年伯克希尔股东大会","2003nian-bo-ke-xi-er-gu-dong-da-hui",{"title":330,"slug":331,"category":231,"order":332},"1962年中 巴菲特致合伙人信","1962nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",11,{"title":334,"slug":335,"category":213,"order":332},"巴菲特：1982年谈指数期货","ba-fei-te-1982nian-tan-zhi-shu-qi-huo",{"title":337,"slug":338,"category":239,"order":332},"2004年伯克希尔股东大会","2004nian-bo-ke-xi-er-gu-dong-da-hui",{"title":340,"slug":341,"category":231,"order":342},"1963 巴菲特致合伙人信","1963-ba-fei-te-zhi-he-huo-ren-xin",12,{"title":344,"slug":345,"category":213,"order":342},"巴菲特：1983年写给Louie Blumkin的信（内布拉斯加州家具百货","ba-fei-te-1983nian-xie-gei-louie-blumkinde-xin-nei-bu-la-si-jia-zhou-jia-ju-bai-huo",{"title":347,"slug":348,"category":239,"order":342},"2005年伯克希尔股东大会","2005nian-bo-ke-xi-er-gu-dong-da-hui",{"title":350,"slug":351,"category":231,"order":352},"1963年11月 巴菲特致合伙人信","1963nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",13,{"title":354,"slug":355,"category":213,"order":352},"巴菲特：1983年向Rose Blumkin 发出的正式意向收购书","ba-fei-te-1983nian-xiang-rose-blumkin-fa-chu-de-zheng-shi-yi-xiang-shou-gou-shu",{"title":357,"slug":358,"category":239,"order":352},"2006年伯克希尔股东大会","2006nian-bo-ke-xi-er-gu-dong-da-hui",{"title":360,"slug":361,"category":231,"order":362},"1963年12月 巴菲特致合伙人信","1963nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",14,{"title":364,"slug":365,"category":213,"order":362},"巴菲特：1984年哥大商学院演讲","ba-fei-te-1984nian-ge-da-shang-xue-yuan-yan-jiang",{"title":367,"slug":368,"category":239,"order":362},"2007年伯克希尔股东大会","2007nian-bo-ke-xi-er-gu-dong-da-hui",{"title":370,"slug":371,"category":231,"order":372},"1963年中 巴菲特致合伙人信","1963nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",15,{"title":374,"slug":375,"category":213,"order":372},"巴菲特：1985年谈投资","ba-fei-te-1985nian-tan-tou-zi",{"title":377,"slug":378,"category":239,"order":372},"2008年伯克希尔股东大会","2008nian-bo-ke-xi-er-gu-dong-da-hui",{"title":380,"slug":381,"category":231,"order":382},"1964 巴菲特致合伙人信","1964-ba-fei-te-zhi-he-huo-ren-xin",16,{"title":384,"slug":385,"category":213,"order":382},"巴菲特：1986年《如何驯服“赌场社会”》","ba-fei-te-1986nian-ru-he-xun-fu-du-chang-she-hui",{"title":387,"slug":388,"category":239,"order":382},"2009年伯克希尔股东大会","2009nian-bo-ke-xi-er-gu-dong-da-hui",{"title":390,"slug":391,"category":231,"order":392},"1964年中 巴菲特致合伙人信","1964nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",17,{"title":394,"slug":395,"category":213,"order":392},"巴菲特：1986年在《华尔街日报》刊登的收购广告","ba-fei-te-1986nian-zai-hua-er-jie-ri-bao-kan-deng-de-shou-gou-guang-gao",{"title":397,"slug":398,"category":239,"order":392},"2010年伯克希尔股东大会","2010nian-bo-ke-xi-er-gu-dong-da-hui",{"title":400,"slug":401,"category":231,"order":402},"1965 巴菲特致合伙人信","1965-ba-fei-te-zhi-he-huo-ren-xin",18,{"title":404,"slug":405,"category":213,"order":402},"巴菲特：1987年-关于股票指数期货的早期担忧","ba-fei-te-1987nian-guan-yu-gu-piao-zhi-shu-qi-huo-de-zao-qi-dan-you",{"title":407,"slug":408,"category":239,"order":402},"2011年伯克希尔股东大会","2011nian-bo-ke-xi-er-gu-dong-da-hui",{"title":410,"slug":411,"category":412,"order":413},"1965 巴菲特致股东信","1965-ba-fei-te-zhi-gu-dong-xin","致股东信",19,{"title":415,"slug":416,"category":213,"order":413},"巴菲特：1987年-我们可以从费雪（Phil Fisher）身上学到什么","ba-fei-te-1987nian-wo-men-ke-yi-cong-fei-xue-phil-fisher-shen-shang-xue-dao-shi-me",{"title":418,"slug":419,"category":239,"order":413},"2012年伯克希尔股东大会","2012nian-bo-ke-xi-er-gu-dong-da-hui",{"title":421,"slug":422,"category":231,"order":423},"1965年11月 巴菲特致合伙人信","1965nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",20,{"title":425,"slug":426,"category":213,"order":423},"巴菲特：1988年谈投资","ba-fei-te-1988nian-tan-tou-zi",{"title":428,"slug":429,"category":239,"order":423},"2013年伯克希尔股东大会","2013nian-bo-ke-xi-er-gu-dong-da-hui",{"title":431,"slug":432,"category":231,"order":433},"1965年中 巴菲特致合伙人信","1965nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",21,{"title":435,"slug":436,"category":213,"order":433},"巴菲特：1990年斯坦福法学院演讲","ba-fei-te-1990nian-si-tan-fu-fa-xue-yuan-yan-jiang",{"title":438,"slug":439,"category":239,"order":433},"2014年伯克希尔股东大会","2014nian-bo-ke-xi-er-gu-dong-da-hui",{"title":441,"slug":442,"category":231,"order":443},"1966 巴菲特致合伙人信","1966-ba-fei-te-zhi-he-huo-ren-xin",22,{"title":445,"slug":446,"category":213,"order":443},"巴菲特：1991年 年喜诗糖果70 周年纪念","ba-fei-te-1991nian-nian-xi-shi-tang-guo-70-zhou-nian-ji-nian",{"title":448,"slug":449,"category":239,"order":443},"2015年伯克希尔股东大会","2015nian-bo-ke-xi-er-gu-dong-da-hui",{"title":451,"slug":452,"category":412,"order":453},"1966 巴菲特致股东信","1966-ba-fei-te-zhi-gu-dong-xin",23,{"title":455,"slug":456,"category":213,"order":453},"巴菲特：1991年圣母大学演讲","ba-fei-te-1991nian-sheng-mu-da-xue-yan-jiang",{"title":458,"slug":459,"category":239,"order":453},"2016年伯克希尔股东大会","2016nian-bo-ke-xi-er-gu-dong-da-hui",{"title":461,"slug":462,"category":231,"order":463},"1966年11月 巴菲特致合伙人信","1966nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",24,{"title":465,"slug":466,"category":213,"order":463},"巴菲特：1991年巴菲特致所罗门股东信","ba-fei-te-1991nian-ba-fei-te-zhi-suo-luo-men-gu-dong-xin",{"title":468,"slug":469,"category":239,"order":463},"2017年伯克希尔股东大会","2017nian-bo-ke-xi-er-gu-dong-da-hui",{"title":471,"slug":472,"category":231,"order":473},"1966年中 巴菲特致合伙人信","1966nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",25,{"title":475,"slug":476,"category":213,"order":473},"巴菲特：1992年巴菲特奥马哈新闻俱乐部","ba-fei-te-1992nian-ba-fei-te-ao-ma-ha-xin-wen-ju-le-bu",{"title":478,"slug":479,"category":239,"order":473},"2018年伯克希尔股东大会","2018nian-bo-ke-xi-er-gu-dong-da-hui",{"title":481,"slug":482,"category":231,"order":483},"1967 巴菲特致合伙人信","1967-ba-fei-te-zhi-he-huo-ren-xin",26,{"title":485,"slug":486,"category":213,"order":483},"巴菲特：1994年内布拉斯加大学演讲","ba-fei-te-1994nian-nei-bu-la-si-jia-da-xue-yan-jiang",{"title":488,"slug":489,"category":239,"order":483},"2019年伯克希尔股东大会","2019nian-bo-ke-xi-er-gu-dong-da-hui",{"title":491,"slug":492,"category":412,"order":493},"1967 巴菲特致股东信","1967-ba-fei-te-zhi-gu-dong-xin",27,{"title":495,"slug":496,"category":213,"order":493},"巴菲特：1994年巴菲特谈施洛斯的信","ba-fei-te-1994nian-ba-fei-te-tan-shi-luo-si-de-xin",{"title":498,"slug":499,"category":239,"order":493},"2020年伯克希尔股东大会","2020nian-bo-ke-xi-er-gu-dong-da-hui",{"title":501,"slug":502,"category":231,"order":503},"1967年10月 巴菲特致合伙人信","1967nian-10yue-ba-fei-te-zhi-he-huo-ren-xin",28,{"title":505,"slug":506,"category":213,"order":503},"巴菲特：1996年伯克希尔股东手册","ba-fei-te-1996nian-bo-ke-xi-er-gu-dong-shou-ce",{"title":508,"slug":509,"category":239,"order":503},"2021年伯克希尔股东大会","2021nian-bo-ke-xi-er-gu-dong-da-hui",{"title":511,"slug":512,"category":231,"order":513},"1967年11月 巴菲特致合伙人信","1967nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",29,{"title":515,"slug":516,"category":213,"order":513},"巴菲特：1997年巴菲特谈微软的信","ba-fei-te-1997nian-ba-fei-te-tan-wei-ruan-de-xin",{"title":518,"slug":519,"category":239,"order":513},"2022年伯克希尔股东大会","2022nian-bo-ke-xi-er-gu-dong-da-hui",{"title":521,"slug":522,"category":231,"order":523},"1967年中 巴菲特致合伙人信","1967nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",30,{"title":525,"slug":526,"category":213,"order":523},"巴菲特：1998年佛罗里达大学演讲","ba-fei-te-1998nian-fo-luo-li-da-da-xue-yan-jiang",{"title":528,"slug":529,"category":239,"order":523},"2023年伯克希尔股东大会","2023nian-bo-ke-xi-er-gu-dong-da-hui",{"title":531,"slug":532,"category":231,"order":533},"1968 巴菲特致合伙人信","1968-ba-fei-te-zhi-he-huo-ren-xin",31,{"title":535,"slug":536,"category":213,"order":533},"巴菲特：1998年华盛顿大学谈话","ba-fei-te-1998nian-hua-sheng-dun-da-xue-tan-hua",{"title":538,"slug":539,"category":239,"order":533},"2024年伯克希尔股东大会","2024nian-bo-ke-xi-er-gu-dong-da-hui",{"title":541,"slug":542,"category":412,"order":543},"1968 巴菲特致股东信","1968-ba-fei-te-zhi-gu-dong-xin",32,{"title":545,"slug":546,"category":213,"order":543},"巴菲特：1999年内布拉斯加教育论坛演讲","ba-fei-te-1999nian-nei-bu-la-si-jia-jiao-yu-lun-tan-yan-jiang",{"title":548,"slug":549,"category":239,"order":543},"2025年伯克希尔股东大会","2025nian-bo-ke-xi-er-gu-dong-da-hui",{"title":551,"slug":552,"category":231,"order":553},"1968年11月 巴菲特致合伙人信","1968nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",33,{"title":555,"slug":556,"category":213,"order":553},"巴菲特：1999年巴菲特太阳谷演讲","ba-fei-te-1999nian-ba-fei-te-tai-yang-gu-yan-jiang",{"title":558,"slug":559,"category":239,"order":553},"2026年伯克希尔股东大会","2026nian-bo-ke-xi-er-gu-dong-da-hui",{"title":561,"slug":562,"category":231,"order":563},"1968年中 巴菲特致合伙人信","1968nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",34,{"title":565,"slug":566,"category":213,"order":563},"巴菲特：1999年巴菲特谈股市","ba-fei-te-1999nian-ba-fei-te-tan-gu-shi",{"title":568,"slug":569,"category":412,"order":570},"1969 巴菲特致股东信","1969-ba-fei-te-zhi-gu-dong-xin",35,{"title":572,"slug":573,"category":213,"order":570},"巴菲特：2001年佐治亚大学演讲","ba-fei-te-2001nian-zuo-zhi-ya-da-xue-yan-jiang",{"title":575,"slug":576,"category":231,"order":577},"1969年10月 巴菲特致合伙人信","1969nian-10yue-ba-fei-te-zhi-he-huo-ren-xin",36,{"title":579,"slug":580,"category":213,"order":577},"巴菲特：2001年保险业的FDIC","ba-fei-te-2001nian-bao-xian-ye-de-fdic",{"title":582,"slug":583,"category":231,"order":584},"1969年12月 巴菲特致合伙人信","1969nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",37,{"title":586,"slug":587,"category":213,"order":584},"巴菲特：2001年对话内大商学院","ba-fei-te-2001nian-dui-hua-nei-da-shang-xue-yuan",{"title":589,"slug":590,"category":231,"order":591},"1969年12月26日 巴菲特致合伙人信","1969nian-12yue-26ri-ba-fei-te-zhi-he-huo-ren-xin",38,{"title":593,"slug":594,"category":213,"order":591},"巴菲特：2001年巴菲特谈股市","ba-fei-te-2001nian-ba-fei-te-tan-gu-shi",{"title":596,"slug":597,"category":231,"order":598},"1969年5月 巴菲特致合伙人信","1969nian-5yue-ba-fei-te-zhi-he-huo-ren-xin",39,{"title":600,"slug":601,"category":213,"order":598},"巴菲特：2001年给全体经理人备忘录","ba-fei-te-2001nian-gei-quan-ti-jing-li-ren-bei-wang-lu",{"title":603,"slug":604,"category":412,"order":605},"1970 巴菲特致股东信","1970-ba-fei-te-zhi-gu-dong-xin",40,{"title":607,"slug":608,"category":213,"order":605},"巴菲特：2002年哥大商学院演讲","ba-fei-te-2002nian-ge-da-shang-xue-yuan-yan-jiang",{"title":610,"slug":611,"category":231,"order":612},"1970年2月 巴菲特致合伙人信","1970nian-2yue-ba-fei-te-zhi-he-huo-ren-xin",41,{"title":614,"slug":615,"category":213,"order":612},"巴菲特：2002年股票期权与常识","ba-fei-te-2002nian-gu-piao-qi-quan-yu-chang-shi",{"title":617,"slug":618,"category":412,"order":619},"1971 巴菲特致股东信","1971-ba-fei-te-zhi-gu-dong-xin",42,{"title":621,"slug":622,"category":213,"order":619},"巴菲特：2002年谁是真正的账房先生","ba-fei-te-2002nian-shui-shi-zhen-zheng-de-zhang-fang-xian-sheng",{"title":624,"slug":625,"category":412,"order":626},"1972 巴菲特致股东信","1972-ba-fei-te-zhi-gu-dong-xin",43,{"title":628,"slug":629,"category":213,"order":626},"巴菲特：2003年《美国正滑向贸易赤字的危险边缘》","ba-fei-te-2003nian-mei-guo-zheng-hua-xiang-mao-yi-chi-zi-de-wei-xian-bian-yuan",{"title":631,"slug":632,"category":412,"order":633},"1973 巴菲特致股东信","1973-ba-fei-te-zhi-gu-dong-xin",44,{"title":635,"slug":636,"category":213,"order":633},"巴菲特：2003年内布拉斯加大学 林肯分校--领导力课程演讲","ba-fei-te-2003nian-nei-bu-la-si-jia-da-xue-lin-ken-fen-xiao-ling-dao-li-ke-cheng-yan-jiang",{"title":638,"slug":639,"category":412,"order":640},"1974 巴菲特致股东信","1974-ba-fei-te-zhi-gu-dong-xin",45,{"title":642,"slug":643,"category":213,"order":640},"巴菲特：2003年对话沃顿商学院学生","ba-fei-te-2003nian-dui-hua-wo-dun-shang-xue-yuan-xue-sheng",{"title":645,"slug":646,"category":412,"order":647},"1975 巴菲特致股东信","1975-ba-fei-te-zhi-gu-dong-xin",46,{"title":649,"slug":650,"category":213,"order":647},"巴菲特：2003年对话田纳西大学学生","ba-fei-te-2003nian-dui-hua-tian-na-xi-da-xue-xue-sheng",{"title":652,"slug":653,"category":412,"order":654},"1976 巴菲特致股东信","1976-ba-fei-te-zhi-gu-dong-xin",47,{"title":656,"slug":657,"category":213,"order":654},"巴菲特：2003年我为什么不看好美元","ba-fei-te-2003nian-wo-wei-shi-me-bu-kan-hao-mei-yuan",{"title":659,"slug":660,"category":412,"order":661},"1977 巴菲特致股东信","1977-ba-fei-te-zhi-gu-dong-xin",48,{"title":663,"slug":664,"category":213,"order":661},"巴菲特：2003年沃伦在担心什么","ba-fei-te-2003nian-wo-lun-zai-dan-xin-shi-me",{"title":666,"slug":667,"category":412,"order":668},"1978 巴菲特致股东信","1978-ba-fei-te-zhi-gu-dong-xin",49,{"title":670,"slug":671,"category":213,"order":668},"巴菲特：2003年股息巫术","ba-fei-te-2003nian-gu-xi-wu-shu",{"title":673,"slug":674,"category":412,"order":675},"1979 巴菲特致股东信","1979-ba-fei-te-zhi-gu-dong-xin",50,{"title":677,"slug":678,"category":213,"order":675},"巴菲特：2004年与塔克商学院学生对谈","ba-fei-te-2004nian-yu-ta-ke-shang-xue-yuan-xue-sheng-dui-tan",{"title":680,"slug":681,"category":412,"order":682},"1980 巴菲特致股东信","1980-ba-fei-te-zhi-gu-dong-xin",51,{"title":684,"slug":685,"category":213,"order":682},"巴菲特：2004年专访苏珊·巴菲特","ba-fei-te-2004nian-zhuan-fang-su-shan-ba-fei-te",{"title":687,"slug":688,"category":412,"order":689},"1981 巴菲特致股东信","1981-ba-fei-te-zhi-gu-dong-xin",52,{"title":691,"slug":692,"category":213,"order":689},"巴菲特：2004年对话奥奎尔俱乐部","ba-fei-te-2004nian-dui-hua-ao-kui-er-ju-le-bu",{"title":694,"slug":695,"category":412,"order":696},"1982 巴菲特致股东信","1982-ba-fei-te-zhi-gu-dong-xin",53,{"title":698,"slug":699,"category":213,"order":696},"巴菲特：2004年对话沃顿商学院学生","ba-fei-te-2004nian-dui-hua-wo-dun-shang-xue-yuan-xue-sheng",{"title":701,"slug":702,"category":412,"order":703},"1983 巴菲特致股东信","1983-ba-fei-te-zhi-gu-dong-xin",54,{"title":705,"slug":706,"category":213,"order":703},"巴菲特：2004年模糊数学与股票期权","ba-fei-te-2004nian-mo-hu-shu-xue-yu-gu-piao-qi-quan",{"title":708,"slug":709,"category":412,"order":710},"1984 巴菲特致股东信","1984-ba-fei-te-zhi-gu-dong-xin",55,{"title":712,"slug":713,"category":213,"order":710},"巴菲特：2005年加州大学问答纪要","ba-fei-te-2005nian-jia-zhou-da-xue-luo-shan-ji-fen-xiao-an-de-sen-guan-li-xue-yuan-nan-jia-zhou-da-xue-ma-xie-er-shang-xue-yuan-wen-da-ji-yao",{"title":715,"slug":716,"category":412,"order":717},"1985 巴菲特致股东信","1985-ba-fei-te-zhi-gu-dong-xin",56,{"title":719,"slug":720,"category":213,"order":717},"巴菲特：2005年与塔克商学院学生对谈","ba-fei-te-2005nian-yu-ta-ke-shang-xue-yuan-xue-sheng-dui-tan",{"title":722,"slug":723,"category":412,"order":724},"1986 巴菲特致股东信","1986-ba-fei-te-zhi-gu-dong-xin",57,{"title":726,"slug":727,"category":213,"order":724},"巴菲特：2005年回忆进入证券行业","ba-fei-te-2005nian-hui-yi-jin-ru-zheng-quan-xing-ye",{"title":729,"slug":730,"category":412,"order":731},"1987 巴菲特致股东信","1987-ba-fei-te-zhi-gu-dong-xin",58,{"title":733,"slug":734,"category":213,"order":731},"巴菲特：2005年对话内布拉斯加大学学生","ba-fei-te-2005nian-dui-hua-nei-bu-la-si-jia-da-xue-xue-sheng",{"title":736,"slug":737,"category":412,"order":738},"1988 巴菲特致股东信","1988-ba-fei-te-zhi-gu-dong-xin",59,{"title":740,"slug":741,"category":213,"order":738},"巴菲特：2005年对话堪萨斯大学学生","ba-fei-te-2005nian-dui-hua-kan-sa-si-da-xue-xue-sheng",{"title":743,"slug":744,"category":412,"order":745},"1989 巴菲特致股东信","1989-ba-fei-te-zhi-gu-dong-xin",60,{"title":747,"slug":748,"category":213,"order":745},"巴菲特：2005年对话范德比尔特大学学生","ba-fei-te-2005nian-dui-hua-fan-de-bi-er-te-da-xue-xue-sheng",{"title":750,"slug":751,"category":412,"order":752},"1990 巴菲特致股东信","1990-ba-fei-te-zhi-gu-dong-xin",61,{"title":754,"slug":755,"category":213,"order":752},"巴菲特：2006年与沃顿商学院学生问答","ba-fei-te-2006nian-yu-wo-dun-shang-xue-yuan-xue-sheng-wen-da",{"title":757,"slug":758,"category":412,"order":759},"1991 巴菲特致股东信","1991-ba-fei-te-zhi-gu-dong-xin",62,{"title":761,"slug":762,"category":213,"order":759},"巴菲特：2006年巴菲特慈善捐赠专访","ba-fei-te-2006nian-ba-fei-te-ci-shan-juan-zeng-zhuan-fang",{"title":764,"slug":765,"category":412,"order":766},"1992 巴菲特致股东信","1992-ba-fei-te-zhi-gu-dong-xin",63,{"title":768,"slug":769,"category":213,"order":766},"巴菲特：2006年慈善捐赠承诺","ba-fei-te-2006nian-ci-shan-juan-zeng-cheng-nuo",{"title":771,"slug":772,"category":412,"order":773},"1993 巴菲特致股东信","1993-ba-fei-te-zhi-gu-dong-xin",64,{"title":775,"slug":776,"category":213,"order":773},"巴菲特：2006年我为什么慷慨解囊","ba-fei-te-2006nian-wo-wei-shi-me-kang-kai-jie-nang",{"title":778,"slug":779,"category":412,"order":780},"1994 巴菲特致股东信","1994-ba-fei-te-zhi-gu-dong-xin",65,{"title":782,"slug":783,"category":213,"order":780},"巴菲特：2006年给全体经理人备忘录","ba-fei-te-2006nian-gei-quan-ti-jing-li-ren-bei-wang-lu",{"title":785,"slug":786,"category":412,"order":787},"1995 巴菲特致股东信","1995-ba-fei-te-zhi-gu-dong-xin",66,{"title":789,"slug":790,"category":213,"order":787},"巴菲特：2007年11月和比尔·盖茨、大学生对话实录（节目《富豪面对面》）","ba-fei-te-2007nian-11yue-he-bi-er-gai-ci-da-xue-sheng-dui-hua-shi-lu-jie-mu-fu-hao-mian-dui-mian",{"title":792,"slug":793,"category":412,"order":794},"1996 巴菲特致股东信","1996-ba-fei-te-zhi-gu-dong-xin",67,{"title":796,"slug":797,"category":213,"order":794},"巴菲特：2007年对话佐治亚大学学生","ba-fei-te-2007nian-dui-hua-zuo-zhi-ya-da-xue-xue-sheng",{"title":799,"slug":800,"category":412,"order":801},"1997 巴菲特致股东信","1997-ba-fei-te-zhi-gu-dong-xin",68,{"title":803,"slug":804,"category":213,"order":801},"巴菲特：2007年巴菲特接见Dardashti","ba-fei-te-2007nian-ba-fei-te-jie-jian-dardashti",{"title":806,"slug":807,"category":412,"order":808},"1998 巴菲特致股东信","1998-ba-fei-te-zhi-gu-dong-xin",69,{"title":810,"slug":811,"category":213,"order":808},"巴菲特：2007年接受央视专访","ba-fei-te-2007nian-jie-shou-yang-shi-zhuan-fang",{"title":813,"slug":814,"category":412,"order":815},"1999 巴菲特致股东信","1999-ba-fei-te-zhi-gu-dong-xin",70,{"title":817,"slug":818,"category":213,"order":815},"巴菲特：2007年接受欧洲MBA学生专访（珍贵精彩实录）","ba-fei-te-2007nian-jie-shou-ou-zhou-mbaxue-sheng-zhuan-fang-zhen-gui-jing-cai-shi-lu",{"title":820,"slug":821,"category":412,"order":822},"2000 巴菲特致股东信","2000-ba-fei-te-zhi-gu-dong-xin",71,{"title":824,"slug":825,"category":213,"order":822},"巴菲特：2007年查理罗斯专访","ba-fei-te-2007nian-cha-li-luo-si-zhuan-fang",{"title":827,"slug":828,"category":412,"order":829},"2001 巴菲特致股东信","2001-ba-fei-te-zhi-gu-dong-xin",72,{"title":831,"slug":832,"category":213,"order":829},"巴菲特：2008年21 世纪经济领导者采访","ba-fei-te-2008nian-21-shi-ji-jing-ji-ling-dao-zhe-cai-fang",{"title":834,"slug":835,"category":412,"order":836},"2002 巴菲特致股东信","2002-ba-fei-te-zhi-gu-dong-xin",73,{"title":838,"slug":839,"category":213,"order":836},"巴菲特：2008年买入美国正当时","ba-fei-te-2008nian-mai-ru-mei-guo-zheng-dang-shi",{"title":841,"slug":842,"category":412,"order":843},"2003 巴菲特致股东信","2003-ba-fei-te-zhi-gu-dong-xin",74,{"title":845,"slug":846,"category":213,"order":843},"巴菲特：2008年对话IVEY 商学院学生","ba-fei-te-2008nian-dui-hua-ivey-shang-xue-yuan-xue-sheng",{"title":848,"slug":849,"category":412,"order":850},"2004 巴菲特致股东信","2004-ba-fei-te-zhi-gu-dong-xin",75,{"title":852,"slug":853,"category":213,"order":850},"巴菲特：2008年对话商学院学生","ba-fei-te-2008nian-dui-hua-shang-xue-yuan-xue-sheng",{"title":855,"slug":856,"category":412,"order":857},"2005 巴菲特致股东信","2005-ba-fei-te-zhi-gu-dong-xin",76,{"title":859,"slug":860,"category":213,"order":857},"巴菲特：2008年对话瑞士洛桑国际管理学院","ba-fei-te-2008nian-dui-hua-rui-shi-luo-sang-guo-ji-guan-li-xue-yuan",{"title":862,"slug":863,"category":412,"order":864},"2006 巴菲特致股东信","2006-ba-fei-te-zhi-gu-dong-xin",77,{"title":866,"slug":867,"category":213,"order":864},"巴菲特：2008年怀念恩师格雷厄姆","ba-fei-te-2008nian-huai-nian-en-shi-ge-lei-e-mu",{"title":869,"slug":870,"category":412,"order":871},"2007 巴菲特致股东信","2007-ba-fei-te-zhi-gu-dong-xin",78,{"title":873,"slug":874,"category":213,"order":871},"巴菲特：2008年给保尔森的信","ba-fei-te-2008nian-gei-bao-er-sen-de-xin",{"title":876,"slug":877,"category":412,"order":878},"2008 巴菲特致股东信","2008-ba-fei-te-zhi-gu-dong-xin",79,{"title":880,"slug":881,"category":213,"order":878},"巴菲特：2008年解析经济危机","ba-fei-te-2008nian-jie-xi-jing-ji-wei-ji",{"title":883,"slug":884,"category":412,"order":885},"2009 巴菲特致股东信","2009-ba-fei-te-zhi-gu-dong-xin",80,{"title":887,"slug":888,"category":213,"order":885},"巴菲特：2008年财富杂志：沃伦之思","ba-fei-te-2008nian-cai-fu-za-zhi-wo-lun-zhi-si",{"title":890,"slug":891,"category":412,"order":892},"2010 巴菲特致股东信","2010-ba-fei-te-zhi-gu-dong-xin",81,{"title":894,"slug":895,"category":213,"order":892},"巴菲特：2009年CNBC 专访","ba-fei-te-2009nian-cnbc-zhuan-fang",{"title":897,"slug":898,"category":412,"order":899},"2011 巴菲特致股东信","2011-ba-fei-te-zhi-gu-dong-xin",82,{"title":901,"slug":902,"category":213,"order":899},"巴菲特：2009年对话六所商学院学生","ba-fei-te-2009nian-dui-hua-liu-suo-shang-xue-yuan-xue-sheng",{"title":904,"slug":905,"category":412,"order":906},"2012 巴菲特致股东信","2012-ba-fei-te-zhi-gu-dong-xin",83,{"title":908,"slug":909,"category":213,"order":906},"巴菲特：2009年对话哥大商学院学生","ba-fei-te-2009nian-dui-hua-ge-da-shang-xue-yuan-xue-sheng",{"title":911,"slug":912,"category":412,"order":913},"2013 巴菲特致股东信","2013-ba-fei-te-zhi-gu-dong-xin",84,{"title":915,"slug":916,"category":213,"order":913},"巴菲特：2009年恐慌是会传染的，我们必须做点什么","ba-fei-te-2009nian-kong-huang-shi-hui-chuan-ran-de-wo-men-bi-xu-zuo-dian-shi-me",{"title":918,"slug":919,"category":412,"order":920},"2014 伯克希尔的过去现在与未来","2014-bo-ke-xi-er-de-guo-qu-xian-zai-yu-wei-lai",85,{"title":922,"slug":923,"category":213,"order":920},"巴菲特：2009年收购BNSF 铁路","ba-fei-te-2009nian-shou-gou-bnsf-tie-lu",{"title":925,"slug":926,"category":412,"order":927},"2014 副董事长的思考","2014-fu-dong-shi-chang-de-si-kao",86,{"title":929,"slug":930,"category":213,"order":927},"巴菲特：2009年美元效应","ba-fei-te-2009nian-mei-yuan-xiao-ying",{"title":932,"slug":933,"category":412,"order":934},"2014 巴菲特致股东信","2014-ba-fei-te-zhi-gu-dong-xin",87,{"title":936,"slug":937,"category":213,"order":934},"巴菲特：2009年阿克伦大学商学院问答实录","ba-fei-te-2009nian-a-ke-lun-da-xue-shang-xue-yuan-wen-da-shi-lu",{"title":939,"slug":940,"category":412,"order":941},"2015 巴菲特致股东信","2015-ba-fei-te-zhi-gu-dong-xin",88,{"title":943,"slug":944,"category":213,"order":941},"巴菲特：2010年\"捐赠誓言\"计划","ba-fei-te-2010nian-juan-zeng-shi-yan-ji-hua",{"title":946,"slug":947,"category":412,"order":948},"2016 巴菲特致股东信","2016-ba-fei-te-zhi-gu-dong-xin",89,{"title":950,"slug":951,"category":213,"order":948},"巴菲特：2010年CNBC 专访","ba-fei-te-2010nian-cnbc-zhuan-fang",{"title":953,"slug":954,"category":412,"order":955},"2017 巴菲特致股东信","2017-ba-fei-te-zhi-gu-dong-xin",90,{"title":957,"slug":958,"category":213,"order":955},"巴菲特：2010年与罗克国度创始人、福布斯主编对谈","ba-fei-te-2010nian-yu-luo-ke-guo-du-chuang-shi-ren-fu-bu-si-zhu-bian-dui-tan",{"title":960,"slug":961,"category":412,"order":962},"2018 巴菲特致股东信","2018-ba-fei-te-zhi-gu-dong-xin",91,{"title":964,"slug":965,"category":213,"order":962},"巴菲特：2010年央视财经采访","ba-fei-te-2010nian-yang-shi-cai-jing-cai-fang",{"title":967,"slug":968,"category":412,"order":969},"2019 巴菲特致股东信","2019-ba-fei-te-zhi-gu-dong-xin",92,{"title":971,"slug":972,"category":213,"order":969},"巴菲特：2010年对话IVEY 商学院学生","ba-fei-te-2010nian-dui-hua-ivey-shang-xue-yuan-xue-sheng",{"title":974,"slug":975,"category":412,"order":976},"2020 巴菲特致股东信","2020-ba-fei-te-zhi-gu-dong-xin",93,{"title":978,"slug":979,"category":213,"order":976},"巴菲特：2010年慈善中国行","ba-fei-te-2010nian-ci-shan-zhong-guo-xing",{"title":981,"slug":982,"category":412,"order":983},"2021 巴菲特致股东信","2021-ba-fei-te-zhi-gu-dong-xin",94,{"title":985,"slug":986,"category":213,"order":983},"巴菲特：2010年给全体经理人备忘录","ba-fei-te-2010nian-gei-quan-ti-jing-li-ren-bei-wang-lu",{"title":988,"slug":989,"category":412,"order":990},"2022 巴菲特致股东信","2022-ba-fei-te-zhi-gu-dong-xin",95,{"title":992,"slug":993,"category":213,"order":990},"巴菲特：2010年金融危机调查委员会专访","ba-fei-te-2010nian-jin-rong-wei-ji-diao-cha-wei-yuan-hui-zhuan-fang",{"title":995,"slug":996,"category":412,"order":997},"2023 巴菲特致股东信","2023-ba-fei-te-zhi-gu-dong-xin",96,{"title":999,"slug":1000,"category":213,"order":997},"巴菲特：2011年500 亿美元的决定","ba-fei-te-2011nian-500-yi-mei-yuan-de-jue-ding",{"title":1002,"slug":1003,"category":412,"order":1004},"2024 巴菲特致股东信","2024-ba-fei-te-zhi-gu-dong-xin",97,{"title":1006,"slug":1007,"category":213,"order":1004},"巴菲特：2011年CNBC 专访","ba-fei-te-2011nian-cnbc-zhuan-fang",{"title":1009,"slug":1010,"category":412,"order":1011},"2025 巴菲特致股东信","2025-ba-fei-te-zhi-gu-dong-xin",98,{"title":1013,"slug":1014,"category":213,"order":1011},"巴菲特：2011年对话八所商学院学生","ba-fei-te-2011nian-dui-hua-ba-suo-shang-xue-yuan-xue-sheng",{"title":1016,"slug":1017,"category":412,"order":1018},"2025 感恩节致辞","2025-gan-en-jie-zhi-ci",99,{"title":1020,"slug":1021,"category":213,"order":1018},"巴菲特：2011年查理·罗斯专访","ba-fei-te-2011nian-cha-li-luo-si-zhuan-fang",{"title":1023,"slug":1024,"category":412,"order":1025},"2026 阿贝尔致股东信","2026-a-bei-er-zhi-gu-dong-xin",100,{"title":1027,"slug":1028,"category":213,"order":1025},"巴菲特：为何股票能跑赢黄金与债券","ba-fei-te-2012nian-wei-he-gu-piao-neng-pao-ying-huang-jin-yu-zhai-quan",{"title":1030,"slug":1031,"category":213,"order":1032},"巴菲特：2012年对话IVEY 商学院学生","ba-fei-te-2012nian-dui-hua-ivey-shang-xue-yuan-xue-sheng",101,{"title":1034,"slug":1035,"category":213,"order":1036},"巴菲特：2012年跳着踢踏舞去上班","ba-fei-te-2012nian-tiao-zhao-ti-ta-wu-qu-shang-ban",102,{"title":1038,"slug":1039,"category":213,"order":1040},"巴菲特：2013年 《沃伦·巴菲特的办公时间访谈》","ba-fei-te-2013nian-wo-lun-ba-fei-te-de-ban-gong-shi-jian-fang-tan",103,{"title":1042,"slug":1043,"category":213,"order":1044},"巴菲特：2013年乔治城大学演讲","ba-fei-te-2013nian-qiao-zhi-cheng-da-xue-yan-jiang",104,{"title":1046,"slug":1047,"category":213,"order":1048},"巴菲特：2013年如何教孩子理财","ba-fei-te-2013nian-ru-he-jiao-hai-zi-li-cai",105,{"title":1050,"slug":1051,"category":213,"order":1052},"巴菲特：2013年家族三代谈慈善","ba-fei-te-2013nian-jia-zu-san-dai-tan-ci-shan",106,{"title":1054,"slug":1055,"category":213,"order":1056},"巴菲特：2013年对话八所商学院学生","ba-fei-te-2013nian-dui-hua-ba-suo-shang-xue-yuan-xue-sheng",107,{"title":1058,"slug":1059,"category":213,"order":1060},"巴菲特：2014年CNBC 专访2014年3月3日","ba-fei-te-2014nian-cnbc-zhuan-fang-2014nian-3yue-3ri",108,{"title":1062,"slug":1063,"category":213,"order":1064},"巴菲特：2014年CNBC 专访2014年5月5日","ba-fei-te-2014nian-cnbc-zhuan-fang-2014nian-5yue-5ri",109,{"title":1066,"slug":1067,"category":213,"order":1068},"巴菲特：2014年与ivey商学院MBA学生会面纪要","ba-fei-te-2014nian-yu-iveyshang-xue-yuan-mbaxue-sheng-hui-mian-ji-yao",110,{"title":1070,"slug":1071,"category":213,"order":1072},"巴菲特：2014年关于游牧者基金","ba-fei-te-2014nian-guan-yu-you-mu-zhe-ji-jin",111,{"title":1074,"slug":1075,"category":213,"order":1076},"巴菲特：2014年给全体经理人备忘录","ba-fei-te-2014nian-gei-quan-ti-jing-li-ren-bei-wang-lu",112,{"title":1078,"slug":1079,"category":213,"order":1080},"巴菲特：2014年谈可口可乐薪酬方案","ba-fei-te-2014nian-tan-ke-kou-ke-le-xin-chou-fang-an",113,{"title":1082,"slug":1083,"category":213,"order":1084},"巴菲特：2015年对话IVEY 商学院学生","ba-fei-te-2015nian-dui-hua-ivey-shang-xue-yuan-xue-sheng",114,{"title":1086,"slug":1087,"category":213,"order":1088},"巴菲特：2015年扩大所得税抵免比提高最低工资更好","ba-fei-te-2015nian-kuo-da-suo-de-shui-di-mian-bi-ti-gao-zui-di-gong-zi-geng-hao",115,{"title":1090,"slug":1091,"category":213,"order":1092},"巴菲特：2015年接受亚利桑那州立大学领导力教授杰夫·坎宁安的专访实录","ba-fei-te-2015nian-jie-shou-ya-li-sang-na-zhou-li-da-xue-ling-dao-li-jiao-shou-jie-fu-kan-ning-an-de-zhuan-fang-shi-lu",116,{"title":1094,"slug":1095,"category":213,"order":1096},"巴菲特：2015年追忆唐基奥","ba-fei-te-2015nian-zhui-yi-tang-ji-ao",117,{"title":1098,"slug":1099,"category":213,"order":1100},"巴菲特：2015慈善承诺倡议","ba-fei-te-2015ci-shan-cheng-nuo-chang-yi",118,{"title":1102,"slug":1103,"category":213,"order":1104},"巴菲特：2016年对话八所商学院学生2016","ba-fei-te-2016nian-dui-hua-ba-suo-shang-xue-yuan-xue-sheng-2016",119,{"title":1106,"slug":1107,"category":213,"order":1108},"标题：《巴菲特：2017 年哥伦比亚大学高校面谈——人生最美好的事是什么？》","ba-fei-te-2017-nian-ge-lun-bi-ya-da-xue-gao-xiao-mian-tan-ren-sheng-zui-mei-hao-de-shi-shi-shi-me",120,{"title":5,"slug":223,"category":213,"order":219},{"title":1111,"slug":1112,"category":213,"order":1113},"巴菲特：2017年接受CNBC采访","ba-fei-te-2017nian-jie-shou-cnbccai-fang",122,{"title":1115,"slug":1116,"category":213,"order":1117},"巴菲特：2017年接受PBS NEWS专访","ba-fei-te-2017nian-jie-shou-pbs-newszhuan-fang",123,{"title":1119,"slug":1120,"category":213,"order":1121},"巴菲特：2017年查理·罗斯访谈：比尔·盖茨与沃伦·巴菲特","ba-fei-te-2017nian-cha-li-luo-si-fang-tan-bi-er-gai-ci-yu-wo-lun-ba-fei-te",124,{"title":1123,"slug":1124,"category":213,"order":1125},"巴菲特：2017年美国的未来","ba-fei-te-2017nian-mei-guo-de-wei-lai",125,{"title":1127,"slug":1128,"category":213,"order":1129},"巴菲特：2018年再度邀请北大光华学子共进午餐问答全记录","ba-fei-te-2018nian-zai-du-yao-qing-bei-da-guang-hua-xue-zi-gong-jin-wu-can-wen-da-quan-ji-lu",126,{"title":1131,"slug":1132,"category":213,"order":1133},"巴菲特：2018年时代周刊-分享美国财富的秘密","ba-fei-te-2018nian-shi-dai-zhou-kan-fen-xiang-mei-guo-cai-fu-de-mi-mi",127,{"title":1135,"slug":1136,"category":213,"order":1137},"巴菲特：2019年5月雅虎财经专访","ba-fei-te-2019nian-5yue-ya-hu-cai-jing-zhuan-fang",128,{"title":1139,"slug":1140,"category":213,"order":1141},"巴菲特：2019年与芒格及比尔盖茨接受CNBC采访","ba-fei-te-2019nian-yu-mang-ge-ji-bi-er-gai-ci-jie-shou-cnbccai-fang",129,{"title":1143,"slug":1144,"category":213,"order":1145},"巴菲特：2020年接受CNBC专访","ba-fei-te-2020nian-jie-shou-cnbczhuan-fang",130,{"title":1147,"slug":1148,"category":213,"order":1149},"巴菲特：2020年给内布拉斯加大学林肯分校2020届毕业生的建议","ba-fei-te-2020nian-gei-nei-bu-la-si-jia-da-xue-lin-ken-fen-xiao-2020jie-bi-ye-sheng-de-jian-yi",131,{"title":1151,"slug":1152,"category":213,"order":1153},"巴菲特：2021年专访《成为巴菲特》","ba-fei-te-2021nian-zhuan-fang-cheng-wei-ba-fei-te",132,{"title":1155,"slug":1156,"category":213,"order":1157},"巴菲特：2021年巴菲特芒格接受CNBC专访","ba-fei-te-2021nian-ba-fei-te-mang-ge-jie-shou-cnbczhuan-fang",133,{"title":1159,"slug":1160,"category":213,"order":1161},"巴菲特：2021年让观众无言以对 !有史以来最鼓舞人心的演讲之一","ba-fei-te-2021nian-rang-guan-zhong-wu-yan-yi-dui-you-shi-yi-lai-zui-gu-wu-ren-xin-de-yan-jiang-zhi-yi",134,{"title":1163,"slug":1164,"category":213,"order":1165},"巴菲特：2021年采访《沃伦·巴菲特的投资策略：如何像传奇一样生活和投资（完整访谈）》","ba-fei-te-2021nian-cai-fang-wo-lun-ba-fei-te-de-tou-zi-ce-lue-ru-he-xiang-chuan-qi-yi-yang-sheng-huo-he-tou-zi-wan-zheng-fang-tan",135,{"title":1167,"slug":1168,"category":213,"order":1169},"巴菲特：2022年32 届年度格雷厄姆和多德早餐会","ba-fei-te-2022nian-32-jie-nian-du-ge-lei-e-mu-he-duo-de-zao-can-hui",136,{"title":1171,"slug":1172,"category":213,"order":1173},"巴菲特：2022年和查理罗斯对谈","ba-fei-te-2022nian-he-cha-li-luo-si-dui-tan",137,{"title":1175,"slug":1176,"category":213,"order":1177},"巴菲特：2023年 查理芒格：伯克希尔的总设计师","ba-fei-te-2023nian-cha-li-mang-ge-bo-ke-xi-er-de-zong-she-ji-shi",138,{"title":1179,"slug":1180,"category":213,"order":1181},"巴菲特：初学者如何投资--3 条简单的规则","ba-fei-te-2023nian-chu-xue-zhe-ru-he-tou-zi-3-tiao-jian-dan-de-gui-ze",139,{"title":1183,"slug":1184,"category":213,"order":1185},"巴菲特：2023年接受CNBC专访","ba-fei-te-2023nian-jie-shou-cnbczhuan-fang",140,{"title":1187,"slug":1188,"category":213,"order":1189},"巴菲特：每个投资者都会犯的 10 个错误","ba-fei-te-2023nian-mei-ge-tou-zi-zhe-du-hui-fan-de-10-ge-cuo-wu",141,{"title":1191,"slug":1192,"category":213,"order":1193},"巴菲特：2025年接受cbs采访","ba-fei-te-2025nian-jie-shou-cbscai-fang",142,{"title":1195,"slug":1196,"category":213,"order":1197},"2026伯克希尔股东大会 CNBC专访巴菲特（完整纯中文）","2026bo-ke-xi-er-gu-dong-da-hui-cnbczhuan-fang-ba-fei-te",143,{"title":1199,"slug":1200,"category":213,"order":1201},"巴菲特：2026年最新采访 CNBC《财经论谈》","ba-fei-te-2026nian-zui-xin-cai-fang-cnbc-cai-jing-lun-tan",144,{"title":1203,"slug":1204,"category":213,"order":1205},"伯克希尔50 周年：过去、现在和未来","bo-ke-xi-er-50-zhou-nian-guo-qu-xian-zai-he-wei-lai",145,{"title":1207,"slug":1208,"category":213,"order":1209},"巴菲特72条投资经典语录","ba-fei-te-72tiao-tou-zi-jing-dian-yu-lu",146,{"title":1211,"slug":1212,"category":213,"order":1213},"巴菲特：你应该了解珠宝生意","ba-fei-te-ni-ying-gai-liao-jie-zhu-bao-sheng-yi",147,{"title":1215,"slug":1216,"category":213,"order":1217},"巴菲特：如何建立能力圈","ba-fei-te-ru-he-jian-li-neng-li-quan",148,{"title":1219,"slug":1220,"category":213,"order":1221},"巴菲特：巴菲特估值逻辑","ba-fei-te-ba-fei-te-gu-zhi-luo-ji",149,{"title":1223,"slug":1224,"category":213,"order":1225},"康布斯：在普通股中寻找价值","kang-bu-si-zai-pu-tong-gu-zhong-xun-zhao-jie-zhi",150,{"title":1227,"slug":1228,"category":213,"order":1229},"考夫曼：Glenair 企业文化","kao-fu-man-glenair-qi-ye-wen-hua",151,[1231,1235,1238,1241,1244,1247,1250,1253,1256,1260,1264,1267,1270,1273,1276,1279,1282,1285,1288,1291,1294,1297,1300,1303,1306,1310,1313,1316,1319,1322,1325,1328,1331,1334,1337,1341,1344,1347,1350,1353,1356,1359,1362,1366,1369,1372,1375,1378,1381,1384,1387,1390,1393,1396,1399,1402,1405,1408,1411,1414,1417,1420,1423,1426,1429,1432,1435,1438,1441,1444,1447,1452,1456,1460,1464,1468,1472,1476,1480,1484,1488,1492,1496,1500,1504,1508,1512,1516,1520,1524,1528],{"title":1232,"slug":1233,"category":1234,"order":232},"本分","benfen","核心哲学",{"title":1236,"slug":1237,"category":1234,"order":211},"平常心","pingchangxin",{"title":1239,"slug":1240,"category":1234,"order":252},"做对的事情","zuoduideshiqing",{"title":1242,"slug":1243,"category":1234,"order":262},"把事情做对","bashiqingzuodui",{"title":1245,"slug":1246,"category":1234,"order":272},"能力圈","nengliquan",{"title":1248,"slug":1249,"category":1234,"order":282},"不做什么","buzuoshenme",{"title":1251,"slug":1252,"category":1234,"order":292},"敢为天下后","ganweitianxiahou",{"title":1254,"slug":1255,"category":1234,"order":302},"消费者导向","xiaofeizhedaoxiang",{"title":1257,"slug":1258,"category":1259,"order":312},"价值投资","jiazhitouzi","投资理念",{"title":1261,"slug":1262,"category":1263,"order":322},"负债","fuzhai","财务指标",{"title":1265,"slug":1266,"category":1259,"order":322},"商业模式","shangyemoshi",{"title":1268,"slug":1269,"category":1259,"order":332},"护城河","huchenghe",{"title":1271,"slug":1272,"category":1263,"order":332},"净现金","jingxianjin",{"title":1274,"slug":1275,"category":1263,"order":342},"开销合理性","kaixiaohelixing",{"title":1277,"slug":1278,"category":1259,"order":342},"现金流","xianjinliu",{"title":1280,"slug":1281,"category":1263,"order":352},"真实利润","zhenshilirun",{"title":1283,"slug":1284,"category":1259,"order":352},"折现","zhexian",{"title":1286,"slug":1287,"category":1259,"order":362},"安全边际","anquanbianji",{"title":1289,"slug":1290,"category":1263,"order":362},"扣除商誉的净资产","jingzichan",{"title":1292,"slug":1293,"category":1259,"order":372},"基本面","jibenmian",{"title":1295,"slug":1296,"category":1259,"order":382},"机会成本","jihuichengben",{"title":1298,"slug":1299,"category":1259,"order":392},"长期持有","zhangqichiyou",{"title":1301,"slug":1302,"category":1259,"order":402},"投机","touji",{"title":1304,"slug":1305,"category":1259,"order":413},"止损","zhisun",{"title":1307,"slug":1308,"category":1309,"order":423},"企业文化","qiyewenhua","企业经营",{"title":1311,"slug":1312,"category":1309,"order":433},"品牌","pinpai",{"title":1314,"slug":1315,"category":1309,"order":443},"差异化","chayihua",{"title":1317,"slug":1318,"category":1309,"order":453},"用户体验","yonghutiyan",{"title":1320,"slug":1321,"category":1309,"order":463},"渠道","qudao",{"title":1323,"slug":1324,"category":1309,"order":473},"平台","pingtai",{"title":1326,"slug":1327,"category":1309,"order":483},"生态系统","shengtaixitong",{"title":1329,"slug":1330,"category":1309,"order":493},"单一产品","danyichanpin",{"title":1332,"slug":1333,"category":1309,"order":503},"造钟人","zaozhongren",{"title":1335,"slug":1336,"category":1309,"order":513},"利润之上的追求","lirunzhishangdezhuiqiu",{"title":1338,"slug":1339,"category":1340,"order":523},"进取心","jinquxin","品格与心性",{"title":1342,"slug":1343,"category":1340,"order":533},"耐心","naixin",{"title":1345,"slug":1346,"category":1340,"order":543},"责任心","zerenxin",{"title":1348,"slug":1349,"category":1340,"order":553},"爱心","aixin",{"title":1351,"slug":1352,"category":1340,"order":563},"信誉","xinyu",{"title":1354,"slug":1355,"category":1340,"order":570},"正直","zhengzhi",{"title":1357,"slug":1358,"category":1340,"order":577},"理性","lixing",{"title":1360,"slug":1361,"category":1340,"order":584},"长期主义","zhangqizhuyi",{"title":1363,"slug":1364,"category":1365,"order":1025},"1999年 《都市快报》采访手记","duanyongping-1999nian-doushikuaibao-caifangshouji","访谈实录",{"title":1367,"slug":1368,"category":1365,"order":1032},"1999年 步步高讲话","duanyongping-1999nian-bubugaojianghua",{"title":1370,"slug":1371,"category":1365,"order":1036},"1999年做客人民大学精彩问答实录","duanyongping-1999nianzuokerenmindaxuejingcaiwendashilu",{"title":1373,"slug":1374,"category":1365,"order":1040},"2000年 《销售与市场》杂志专访","duanyongping-2000nian-xiaoshouyushichang-zazhizhuanfang",{"title":1376,"slug":1377,"category":1365,"order":1044},"2000年在央视“品牌与传播国际论坛”上的演讲","duanyongping-2000nianzaiyangshi-pinpaiyuchuanboguojiluntan-shangdeyanjiang",{"title":1379,"slug":1380,"category":1365,"order":1048},"2000追逐世界的节奏 —— 《经营者》杂志2000年，步步高总经理访谈记录","duanyongping-2000zhuizhushijiedejiezou-jingyingzhe-zazhi2000nian-bubugaozongjing",{"title":1382,"slug":1383,"category":1365,"order":1052},"2001《经营天下：高峰论坛 之 段永平》—— 2001年末中国20位行业巨头面对面访谈录","duanyongping-2001-jingyingtianxia-gaofengluntan-zhi-duanyongping-2001nianmozhong",{"title":1385,"slug":1386,"category":1365,"order":1056},"2001年 我为什么要去读书？ —— 《读者》2001年11月刊","duanyongping-2001nian-woweishenmeyaoqudushu-duzhe-2001nian11yuekan",{"title":1388,"slug":1389,"category":1365,"order":1060},"2001年《世界经理人文摘》专访","duanyongping-2001nian-shijiejinglirenwenzhai-zhuanfang",{"title":1391,"slug":1392,"category":1365,"order":1064},"2002年 CCTV2经济频道《卖点》栏目采访：投影机能否走进家庭？","duanyongping-2002nian-cctv2jingjipindao-maidian-lanmucaifang-touyingjinengfouzou",{"title":1394,"slug":1395,"category":1365,"order":1068},"2003年北京大学总裁班演讲座谈会全程实录","duanyongping-2003nianbeijingdaxuezongcaibanyanjiangzuotanhuiquanchengshilu",{"title":1397,"slug":1398,"category":1365,"order":1072},"2004财富人生—段永平 2004 采访","duanyongping-2004caifurensheng-duanyongping-2004-caifang",{"title":1400,"slug":1401,"category":1365,"order":1076},"2005年步步高十周年“记”念晚会：段永平发言","duanyongping-2005nianbubugaoshizhounian-ji-nianwanhui-duanyongpingfayan",{"title":1403,"slug":1404,"category":1365,"order":1080},"2006年 深度对话网易证券全程实录","duanyongping-2006nian-shenduduihuawangyizhengquanquanchengshilu",{"title":1406,"slug":1407,"category":1365,"order":1084},"2006年做客新浪财经频道聊天全实录","duanyongping-2006nianzuokexinlangcaijingpindaoliaotianquanshilu",{"title":1409,"slug":1410,"category":1365,"order":1088},"2006年浙大“实话实说”","duanyongping-2006nianzheda-shihuashishuo",{"title":1412,"slug":1413,"category":1365,"order":1092},"2007年与巴菲特共进午餐后网易专访","duanyongping-2007nianyubafeitegongjinwucanhouwangyizhuanfang",{"title":1415,"slug":1416,"category":1365,"order":1096},"2007年波士堂访谈","duanyongping-2007nianboshitangfangtan",{"title":1418,"slug":1419,"category":1365,"order":1100},"2009年 深度专访： 探讨公益人生，分享成功体会","duanyongping-2009nian-shenduzhuanfang-tantaogongyirensheng-fenxiangchenggongtihu",{"title":1421,"slug":1422,"category":1365,"order":1104},"2009年《21世纪经济报道》独家专访：我不认为巴菲特是股神（2009年）","duanyongping-2009nian-21shijijingjibaodao-dujiazhuanfang-woburenweibafeiteshigus",{"title":1424,"slug":1425,"category":1365,"order":1108},"2009浙大MBA分享：企业追求的是稳健的发展，基本功最重要","duanyongping-2009zhedambafenxiang-qiyezhuiqiudeshiwenjiandefazhan-jibengongzuizh",{"title":1427,"slug":1428,"category":1365,"order":219},"2010年 步步高董事长段永平和人大校长纪宝成记者会实录","duanyongping-2010nian-bubugaodongshizhangduanyongpingherendaxiaozhangjibaochengj",{"title":1430,"slug":1431,"category":1365,"order":1113},"2011年买入苹果思考","duanyongping-2011nianmairupingguosikao",{"title":1433,"slug":1434,"category":1365,"order":1117},"2013年浙大演讲","duanyongping-2013nianzhedayanjiang",{"title":1436,"slug":1437,"category":1365,"order":1121},"2016年浙大60周年专访","duanyongping-2016nianzheda60zhounianzhuanfang",{"title":1439,"slug":1440,"category":1365,"order":1125},"2025年浙江大学演讲及问答完整版","duanyongping-2025nianzhejiangdaxueyanjiangjiwendawanzhengban",{"title":1442,"slug":1443,"category":1365,"order":1129},"2025年谈躺平与内卷、与王石交流子女教育","duanyongping-2025niantantangpingyuneijuan-yuwangshijiaoliuzinvjiaoyu",{"title":1445,"slug":1446,"category":1365,"order":1133},"2025年： 方三文对话段永平：做自己能够喜欢的事情很重要","duanyongping-2025nian-fangsanwenduihuaduanyongping-zuozijinenggouxihuandeshiqing",{"title":1448,"slug":1449,"category":1450,"order":1451},"问答录：第一章 投资大道","dadaotouziwendalu-diyizhangtouzidadao","投资问答录",200,{"title":1453,"slug":1454,"category":1450,"order":1455},"问答录：第二章 商业模式和企业文化","dadaotouziwendalu-dierzhangshangyemoshiheqiyewenhua",201,{"title":1457,"slug":1458,"category":1450,"order":1459},"问答录：第三章 公司点评","dadaotouziwendalu-disanzhanggongsidianping",202,{"title":1461,"slug":1462,"category":1450,"order":1463},"问答录：第四章 人生箴言","dadaotouziwendalu-disizhangrenshengzhenyan",203,{"title":1465,"slug":1466,"category":1450,"order":1467},"问答录：第五章 演讲与访谈","dadaotouziwendalu-diwuzhangyanjiangyufangtan",204,{"title":1469,"slug":1470,"category":1450,"order":1471},"问答录：第六章 更新","dadaotouziwendalu-diliuzhangduzhegengxin",205,{"title":1473,"slug":1474,"category":1450,"order":1475},"商业逻辑篇：第1节：伟大企业","duanyongping-shangyeluoji-di1jie-weidaqiye",401,{"title":1477,"slug":1478,"category":1450,"order":1479},"商业逻辑篇：第2节：商业模式","duanyongping-shangyeluoji-di2jie-shangyemoshi",402,{"title":1481,"slug":1482,"category":1450,"order":1483},"商业逻辑篇：第3节：企业文化","duanyongping-shangyeluoji-di3jie-qiyewenhua",403,{"title":1485,"slug":1486,"category":1450,"order":1487},"商业逻辑篇：第4节：产品、差异化与创新","duanyongping-shangyeluoji-di4jie-chanpin-chayihua-yu-chuangxin",404,{"title":1489,"slug":1490,"category":1450,"order":1491},"商业逻辑篇：第5节：品牌、营销与广告","duanyongping-shangyeluoji-di5jie-pinpai-yingxiao-yu-guanggao",405,{"title":1493,"slug":1494,"category":1450,"order":1495},"商业逻辑篇：第6节：收购和多元化","duanyongping-shangyeluoji-di6jie-shougouheduoyuanhua",406,{"title":1497,"slug":1498,"category":1450,"order":1499},"商业逻辑篇：第7节：Stop doing list（不为清单）","duanyongping-shangyeluoji-di7jie-stop-doing-list-buweiqingdan",407,{"title":1501,"slug":1502,"category":1450,"order":1503},"投资问答录商业逻辑篇：前言：买股票就是买公司","duanyongping-shangyeluoji-qianyan-maiqushoujiiumaishangsi",408,{"title":1505,"slug":1506,"category":1450,"order":1507},"投资逻辑篇：第1章：投资理念","duanyongping-touziluoji-di1zhang-touzilinian",410,{"title":1509,"slug":1510,"category":1450,"order":1511},"投资逻辑篇：第2章：投资理解","duanyongping-touziluoji-di2jie-touzilijie",411,{"title":1513,"slug":1514,"category":1450,"order":1515},"投资问答录：第3章 golf和投资","duanyongping-touziluoji-di3zhang-golfhetouzi",412,{"title":1517,"slug":1518,"category":1450,"order":1519},"投资逻辑篇：第4章 财务理解","duanyongping-touziwendalu-touziluoji-di4zhang-caiwulijie",413,{"title":1521,"slug":1522,"category":1450,"order":1523},"投资逻辑篇：第5章：估值逻辑","duanyongping-touziluoji-di5zhang-guzhiluoji",414,{"title":1525,"slug":1526,"category":1450,"order":1527},"投资逻辑篇：第6章 投资方法论","duanyongping-touziluoji-di6zhang-touzifangfalun",415,{"title":1529,"slug":1530,"category":1450,"order":1531},"投资逻辑篇：第7章：案例分析","duanyongping-touziluoji-di7zhang-anlifenxi",416,[1533,1536,1539,1542,1546,1550,1553,1557,1559,1562,1565,1568,1572,1575,1578,1581,1584,1588,1591,1594,1597,1600,1604,1607,1610,1612,1615,1618,1621,1624,1627,1630,1633,1636,1639,1642,1645,1648,1651,1654,1657,1660,1663,1666,1669,1672,1675,1678,1681,1684,1687,1690,1693,1696,1699,1702,1705,1708,1711,1714,1717,1720,1723,1726,1729,1732,1736,1739,1742,1745,1748,1752,1755,1758,1761],{"title":1245,"slug":1534,"category":1535,"order":232},"ability-circle","决策与战略",{"title":1537,"slug":1538,"category":1535,"order":211},"逆向思维","inversion",{"title":1295,"slug":1540,"category":1541,"order":252},"opportunity-cost","经济学",{"title":1543,"slug":1544,"category":1545,"order":262},"复利","compound-interest","数学与概率论",{"title":1547,"slug":1548,"category":1549,"order":272},"激励机制","incentives","心理学",{"title":1551,"slug":1552,"category":1545,"order":282},"概率思维","probabilistic-thinking",{"title":1554,"slug":1555,"category":1556,"order":292},"二阶效应","second-order-effects","哲学与逻辑",{"title":1286,"slug":1558,"category":1535,"order":302},"margin-of-safety",{"title":1560,"slug":1561,"category":1549,"order":312},"心理误判","psychology-of-misjudgment",{"title":1563,"slug":1564,"category":1535,"order":322},"检查清单","checklist",{"title":1566,"slug":1567,"category":1541,"order":332},"规模优势","scale-advantage",{"title":1569,"slug":1570,"category":1571,"order":342},"冗余与容错","redundancy","工程学\u002F系统",{"title":1573,"slug":1574,"category":1545,"order":352},"排列组合","combinatorics",{"title":1576,"slug":1577,"category":1545,"order":362},"费马-帕斯卡","fermat-pascal",{"title":1579,"slug":1580,"category":1545,"order":372},"均值回归","regression-to-the-mean",{"title":1582,"slug":1583,"category":1545,"order":382},"量化分析","quantitative-analysis",{"title":1585,"slug":1586,"category":1587,"order":392},"临界点\u002F相变","critical-point-phase-transition","物理学",{"title":1589,"slug":1590,"category":1587,"order":402},"平衡态","equilibrium",{"title":1592,"slug":1593,"category":1587,"order":413},"熵增定律","entropy",{"title":1595,"slug":1596,"category":1587,"order":423},"能量守恒","conservation-of-energy",{"title":1598,"slug":1599,"category":1587,"order":433},"杠杆原理","leverage",{"title":1601,"slug":1602,"category":1603,"order":443},"自然选择","natural-selection","生物学\u002F进化论",{"title":1605,"slug":1606,"category":1603,"order":453},"物竞天择","competition-for-resources",{"title":1608,"slug":1609,"category":1603,"order":463},"进化思维","evolutionary-thinking",{"title":1326,"slug":1611,"category":1603,"order":473},"ecosystem",{"title":1613,"slug":1614,"category":1549,"order":483},"爱好倾向","liking-tendency",{"title":1616,"slug":1617,"category":1549,"order":493},"讨厌倾向","disliking-tendency",{"title":1619,"slug":1620,"category":1549,"order":503},"避免怀疑倾向","doubt-avoidance-tendency",{"title":1622,"slug":1623,"category":1549,"order":513},"一致性倾向","consistency-tendency",{"title":1625,"slug":1626,"category":1549,"order":523},"好奇心倾向","curiosity-tendency",{"title":1628,"slug":1629,"category":1549,"order":533},"康德式公平","kantian-fairness",{"title":1631,"slug":1632,"category":1549,"order":543},"艳羡\u002F妒忌倾向","envy-jealousy-tendency",{"title":1634,"slug":1635,"category":1549,"order":553},"反馈倾向","reciprocation-tendency",{"title":1637,"slug":1638,"category":1549,"order":563},"权威误导","authority-misinfluence",{"title":1640,"slug":1641,"category":1549,"order":570},"重视理由","reason-respecting-tendency",{"title":1643,"slug":1644,"category":1549,"order":577},"过度乐观","over-optimism",{"title":1646,"slug":1647,"category":1549,"order":584},"损失厌恶","loss-aversion",{"title":1649,"slug":1650,"category":1549,"order":591},"否认倾向","denial-tendency",{"title":1652,"slug":1653,"category":1549,"order":598},"过度反应","overreaction-tendency",{"title":1655,"slug":1656,"category":1549,"order":605},"社群影响","social-influence",{"title":1658,"slug":1659,"category":1549,"order":612},"压力倾向","stress-influence-tendency",{"title":1661,"slug":1662,"category":1549,"order":619},"物质主义","materialism-tendency",{"title":1664,"slug":1665,"category":1549,"order":626},"废话倾向","twaddle-tendency",{"title":1667,"slug":1668,"category":1549,"order":633},"确认偏误","confirmation-bias",{"title":1670,"slug":1671,"category":1549,"order":640},"锚定效应","anchoring-effect",{"title":1673,"slug":1674,"category":1549,"order":647},"现时偏差","present-bias",{"title":1676,"slug":1677,"category":1549,"order":654},"贪婪倾向","greed-tendency",{"title":1679,"slug":1680,"category":1541,"order":661},"边际成本\u002F收益","marginal-cost-benefit",{"title":1682,"slug":1683,"category":1541,"order":668},"供需关系","supply-and-demand",{"title":1685,"slug":1686,"category":1541,"order":675},"帕累托最优","pareto-optimality",{"title":1688,"slug":1689,"category":1541,"order":682},"竞争性毁灭","creative-destruction",{"title":1691,"slug":1692,"category":1535,"order":689},"双轨分析","two-track-analysis",{"title":1694,"slug":1695,"category":1535,"order":696},"非线性思维","nonlinear-thinking",{"title":1697,"slug":1698,"category":1535,"order":703},"极化思考","extreme-thinking",{"title":1700,"slug":1701,"category":1535,"order":710},"必要功","necessary-work",{"title":1703,"slug":1704,"category":1571,"order":717},"停机问题","halting-problem",{"title":1706,"slug":1707,"category":1571,"order":724},"闭环系统","closed-loop-system",{"title":1709,"slug":1710,"category":1571,"order":731},"故障安全","fail-safe",{"title":1712,"slug":1713,"category":1571,"order":738},"反向设计","reverse-design",{"title":1715,"slug":1716,"category":1571,"order":745},"瓶颈分析","bottleneck-analysis",{"title":1718,"slug":1719,"category":1556,"order":752},"第一性原理","first-principles",{"title":1721,"slug":1722,"category":1556,"order":759},"证伪思维","falsification",{"title":1724,"slug":1725,"category":1556,"order":766},"奥卡姆剃刀","occams-razor",{"title":1727,"slug":1728,"category":1556,"order":773},"中道思维","middle-way",{"title":1730,"slug":1731,"category":1556,"order":780},"不可知论","agnosticism",{"title":1733,"slug":1734,"category":1735,"order":787},"大数定律","law-of-large-numbers","统计学",{"title":1737,"slug":1738,"category":1735,"order":794},"样本偏差","sample-bias",{"title":1740,"slug":1741,"category":1735,"order":801},"相关性≠因果","correlation-not-causation",{"title":1743,"slug":1744,"category":1735,"order":808},"幸存者偏差","survivorship-bias",{"title":1746,"slug":1747,"category":1735,"order":815},"基本比率","base-rate",{"title":1749,"slug":1750,"category":1751,"order":822},"社会认同","social-proof","社会学",{"title":1753,"slug":1754,"category":1751,"order":829},"部落本能","tribal-instinct",{"title":1756,"slug":1757,"category":1751,"order":836},"金蛋定律","golden-egg-rule",{"title":1759,"slug":1760,"category":1751,"order":843},"互利共生","mutualism",{"title":1762,"slug":1763,"category":1751,"order":850},"激励传导","incentive-transmission",1778291664463]