[{"data":1,"prerenderedAt":1862},["ShallowReactive",2],{"library-kaixiaohelixing":3,"library-sidebar-buffett":331,"library-sidebar-dao":1336,"library-sidebar-models":1630},{"id":4,"title":5,"body":6,"category":316,"date":317,"description":318,"extension":319,"meta":320,"navigation":321,"order":322,"path":323,"seo":324,"seoDescription":325,"seoTitle":326,"slug":327,"stem":328,"__hash__":329,"_collection":330},"dao\u002Fdao\u002Fconcepts\u002Fkaixiaohelixing.md","开销合理性",{"type":7,"value":8,"toc":288},"minimark",[9,12,16,49,56,59,64,69,72,76,82,85,89,96,102,108,112,119,122,125,129,136,143,147,153,158,161,165,172,175,179,182,186,189,193,196,199,203,206,210,213,217,220,223,240,246,252,258,264,272,280],[10,11,5],"h1",{"id":5},[13,14,15],"h2",{"id":15},"定义与起源",[17,18,19,20,48],"p",{},"开销合理性是段永平在看财报时特别关注的几个数字之一。他在2010年明确提到：",[21,22,23,24,29,30,29,34,38,39,29,43,47],"strong",{},"比较在意的数字是几个：",[25,26,28],"a",{"href":27},"\u002Flibrary\u002Ffuzhai","负债","、",[25,31,33],{"href":32},"\u002Flibrary\u002Fjingxianjin","净现金",[25,35,37],{"href":36},"\u002Flibrary\u002Fxianjinliu","现金流","、开销合理性、",[25,40,42],{"href":41},"\u002Flibrary\u002Fzhenshilirun","真实利润",[25,44,46],{"href":45},"\u002Flibrary\u002Fjingzichan","扣除商誉的净资产","，好像没了。"," （2010-03-08）",[17,50,51,52,55],{},"关于什么是合理的开销，段永平回答：",[21,53,54],{},"只要是理性的开支就可称为合理。如果是受股东压力或者说受\"成长\"的压力而花钱则有危险","。（2010-11-01）",[13,57,58],{"id":58},"核心要义",[60,61,63],"h3",{"id":62},"_1-理性开支就是合理","1. 理性开支就是合理",[17,65,66,67,55],{},"段永平定义合理开销：",[21,68,54],{},[17,70,71],{},"关键在于是否是\"理性\"的开支，而不是为了满足外界的预期而花钱。",[60,73,75],{"id":74},"_2-反对为了成长而盲目花钱","2. 反对为了成长而盲目花钱",[17,77,78,79,55],{},"段永平特别反对为了成长而盲目花钱：",[21,80,81],{},"如果是受股东压力或者说受\"成长\"的压力而花钱则有危险",[17,83,84],{},"很多公司为了满足华尔街或市场对成长的预期，会盲目扩大开支，这是非常危险的。",[60,86,88],{"id":87},"_3-资本支出大的行业不容易出现好企业","3. 资本支出大的行业不容易出现好企业",[17,90,91,92,95],{},"网友问：",[21,93,94],{},"我理解的是资本支出大的行业不容易出现好企业。不知道对不对？"," （2019-3-16）",[17,97,98,99,95],{},"段永平回答：",[21,100,101],{},"\"资本支出大的行业不容易出现好企业\"，我同意这个观点。",[17,103,104,105,107],{},"资本支出大的行业往往需要不断投入大量资金来维持运营，不容易产生自由",[25,106,37],{"href":36},"。",[60,109,111],{"id":110},"_4-成本控制是日常基本功","4. 成本控制是日常基本功",[17,113,114,115,118],{},"段永平认为：",[21,116,117],{},"对的，控制成本和经济好坏无关，是个一直要做的事情。最好笑的就是经常看到上市公司为了满足华尔街的预期去减成本，尤其是为了减成本而裁员。"," （2016-05-30）",[17,120,121],{},"成本控制应该渗透到企业文化中，而不是为了短期目标而临时削减。",[13,123,124],{"id":124},"实战案例",[60,126,128],{"id":127},"苹果明智地进行开销","苹果：明智地进行开销",[17,130,131,132,135],{},"网友引用库克的话：",[21,133,134],{},"我们会明智地进行开销。我会把每一笔花出去的钱都当作是我们兜里的最后一分钱。我认为股东会希望我们这样做。我不认为他们希望我们挥霍摆阔。"," （2012-02-14）",[17,137,138,139,142],{},"段永平对此的反应是：",[21,140,141],{},"（微笑）"," （2012-02-14），表示认可。",[60,144,146],{"id":145},"步步高广告费只占价格很小一部分","步步高：广告费只占价格很小一部分",[17,148,91,149,152],{},[21,150,151],{},"步步高最近的生活电器产品的广告都是在央视播放的，代言人还都是韩国的一线明星，广告费和代言费都不是小数目，能不能保本呢？是不是会大副抬高步步高电器的价格呢？"," （2010-03-27）",[17,154,98,155,152],{},[21,156,157],{},"广告费只可能占价格的很小一部分。消费者的眼睛是雪亮的，价格太贵他们会不知道？",[17,159,160],{},"这说明步步高在广告开销上是理性的。",[60,162,164],{"id":163},"喜诗糖果资本支出小的好生意","喜诗糖果：资本支出小的好生意",[17,166,167,168,171],{},"巴菲特说过喜诗是好生意，飞行安全公司是一般生意，航空公司是糟糕的生意。段永平同意：",[21,169,170],{},"资本支出大的行业不容易出现好企业","。（2019-3-16）",[13,173,174],{"id":174},"常见误解",[60,176,178],{"id":177},"误解一为了成长应该多花钱","误解一：为了成长应该多花钱",[17,180,181],{},"很多人认为为了公司成长应该多花钱，但段永平认为如果是受\"成长\"压力而花钱则有危险。",[60,183,185],{"id":184},"误解二资本支出大说明公司在扩张","误解二：资本支出大说明公司在扩张",[17,187,188],{},"很多人认为资本支出大是好事，说明公司在扩张，但段永平认为资本支出大的行业不容易出现好企业。",[60,190,192],{"id":191},"误解三减成本就是好事情","误解三：减成本就是好事情",[17,194,195],{},"段永平认为，真正懂得成本控制的公司是把成本控制渗透到企业文化中的，而不是为了满足华尔街预期而临时减成本。",[13,197,198],{"id":198},"思想演变",[60,200,202],{"id":201},"早期从经营企业中理解成本控制","早期：从经营企业中理解成本控制",[17,204,205],{},"段永平在经营步步高时就非常注重成本控制，这为他后来关注开销合理性奠定了基础。",[60,207,209],{"id":208},"投资时期理性开支作为筛选指标","投资时期：理性开支作为筛选指标",[17,211,212],{},"在投资中，段永平将开销合理性作为重要的筛选指标，避免投资那些为了成长而盲目花钱的公司。",[60,214,216],{"id":215},"成熟时期强调成本控制是企业文化","成熟时期：强调成本控制是企业文化",[17,218,219],{},"随着经验的积累，段永平越来越强调成本控制应该渗透到企业文化中，是日常基本功。",[13,221,222],{"id":222},"原话引用",[224,225,226],"blockquote",{},[17,227,228,48],{},[21,229,23,230,29,232,29,234,38,236,29,238,47],{},[25,231,28],{"href":27},[25,233,33],{"href":32},[25,235,37],{"href":36},[25,237,42],{"href":41},[25,239,46],{"href":45},[224,241,242],{},[17,243,244,55],{},[21,245,54],{},[224,247,248],{},[17,249,250,95],{},[21,251,101],{},[224,253,254],{},[17,255,256,118],{},[21,257,117],{},[224,259,260],{},[17,261,262,152],{},[21,263,157],{},[224,265,266],{},[17,267,268,271],{},[21,269,270],{},"你自己削减一下自己的开销试试？两年后你就明白了。"," （2016-05-28）",[224,273,274],{},[17,275,276,279],{},[21,277,278],{},"依我们过去的经验显示，一家高成本结构公司的经营者，永远找得到增加公司开支的理由；而相对的，一家低成本结构公司的经营者，永远找得到节省公司开支的方法，即使后者的成本早已远低于前者。"," （1978）",[224,281,282],{},[17,283,284,287],{},[21,285,286],{},"其实最理想的公司是能把利润继续投入到原来的生意模式里的公司，分红是其次的选择。有些公司，比如苹果，就是已经没办法把利润再投入，所以才开始回购和分红的。当然，分红比乱花钱好100倍。"," （2013-9-28）",{"title":289,"searchDepth":290,"depth":290,"links":291},"",2,[292,293,300,305,310,315],{"id":15,"depth":290,"text":15},{"id":58,"depth":290,"text":58,"children":294},[295,297,298,299],{"id":62,"depth":296,"text":63},3,{"id":74,"depth":296,"text":75},{"id":87,"depth":296,"text":88},{"id":110,"depth":296,"text":111},{"id":124,"depth":290,"text":124,"children":301},[302,303,304],{"id":127,"depth":296,"text":128},{"id":145,"depth":296,"text":146},{"id":163,"depth":296,"text":164},{"id":174,"depth":290,"text":174,"children":306},[307,308,309],{"id":177,"depth":296,"text":178},{"id":184,"depth":296,"text":185},{"id":191,"depth":296,"text":192},{"id":198,"depth":290,"text":198,"children":311},[312,313,314],{"id":201,"depth":296,"text":202},{"id":208,"depth":296,"text":209},{"id":215,"depth":296,"text":216},{"id":222,"depth":290,"text":222},"财务指标",null,"开销合理性是段永平特别关注的财务指标之一，强调理性支出，反对为了成长而盲目花钱。","md",{},true,12,"\u002Fdao\u002Fconcepts\u002Fkaixiaohelixing",{"title":5,"description":318},"段永平谈开销合理性：开销合理性是段永平特别关注的财务指标之一，强调理性支出，反对为了成长而盲目花钱。","开销合理性｜大道总纲","kaixiaohelixing","dao\u002Fconcepts\u002Fkaixiaohelixing","-zly4ibjPzKqI6QybRHnJAVfsqsYiPPZ_0SMmyTaGTU","dao",[332,337,341,345,348,351,354,357,360,363,367,370,373,377,380,383,387,390,393,397,400,403,407,410,413,417,420,423,427,430,433,437,440,443,446,449,452,456,459,462,466,469,472,476,479,482,486,489,492,496,499,502,506,509,512,517,520,523,527,530,533,537,540,543,547,550,553,557,560,563,567,570,573,577,580,583,587,590,593,597,600,603,607,610,613,617,620,623,627,630,633,637,640,643,647,650,653,657,660,663,667,670,674,677,681,684,688,691,695,698,702,705,709,712,716,719,723,726,730,733,737,740,744,747,751,754,758,761,765,768,772,775,779,782,786,789,793,796,800,803,807,810,814,817,821,824,828,831,835,838,842,845,849,852,856,859,863,866,870,873,877,880,884,887,891,894,898,901,905,908,912,915,919,922,926,929,933,936,940,943,947,950,954,957,961,964,968,971,975,978,982,985,989,992,996,999,1003,1006,1010,1013,1017,1020,1024,1027,1031,1034,1038,1041,1045,1048,1052,1055,1059,1062,1066,1069,1073,1076,1080,1083,1087,1090,1094,1097,1101,1104,1108,1111,1115,1118,1122,1125,1129,1132,1136,1140,1144,1148,1152,1156,1160,1164,1168,1172,1176,1180,1184,1188,1192,1196,1200,1204,1208,1212,1216,1220,1224,1228,1232,1236,1240,1244,1248,1252,1256,1260,1264,1268,1272,1276,1280,1284,1288,1292,1296,1300,1304,1308,1312,1316,1320,1324,1328,1332],{"title":333,"slug":334,"category":335,"order":336},"1956 有限合伙协议","1956-you-xian-he-huo-xie-yi","致合伙人信",1,{"title":338,"slug":339,"category":340,"order":336},"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","访谈与文章",{"title":342,"slug":343,"category":344,"order":336},"1994年伯克希尔股东大会","1994nian-bo-ke-xi-er-gu-dong-da-hui","股东大会",{"title":346,"slug":347,"category":335,"order":290},"1957 巴菲特致合伙人信","1957-ba-fei-te-zhi-he-huo-ren-xin",{"title":349,"slug":350,"category":340,"order":290},"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":352,"slug":353,"category":344,"order":290},"1995年伯克希尔股东大会","1995nian-bo-ke-xi-er-gu-dong-da-hui",{"title":355,"slug":356,"category":335,"order":296},"1958 巴菲特致合伙人信","1958-ba-fei-te-zhi-he-huo-ren-xin",{"title":358,"slug":359,"category":340,"order":296},"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":361,"slug":362,"category":344,"order":296},"1996年伯克希尔股东大会","1996nian-bo-ke-xi-er-gu-dong-da-hui",{"title":364,"slug":365,"category":335,"order":366},"1959 巴菲特致合伙人信","1959-ba-fei-te-zhi-he-huo-ren-xin",4,{"title":368,"slug":369,"category":340,"order":366},"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":371,"slug":372,"category":344,"order":366},"1997年伯克希尔股东大会","1997nian-bo-ke-xi-er-gu-dong-da-hui",{"title":374,"slug":375,"category":335,"order":376},"1960 巴菲特致合伙人信","1960-ba-fei-te-zhi-he-huo-ren-xin",5,{"title":378,"slug":379,"category":340,"order":376},"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":381,"slug":382,"category":344,"order":376},"1998年伯克希尔股东大会","1998nian-bo-ke-xi-er-gu-dong-da-hui",{"title":384,"slug":385,"category":335,"order":386},"1961 巴菲特致合伙人信","1961-ba-fei-te-zhi-he-huo-ren-xin",6,{"title":388,"slug":389,"category":340,"order":386},"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":391,"slug":392,"category":344,"order":386},"1999年伯克希尔股东大会","1999nian-bo-ke-xi-er-gu-dong-da-hui",{"title":394,"slug":395,"category":335,"order":396},"1961年中 巴菲特致合伙人信","1961nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",7,{"title":398,"slug":399,"category":340,"order":396},"巴菲特：1976年巴菲特谈GEICO","ba-fei-te-1976nian-ba-fei-te-tan-geico",{"title":401,"slug":402,"category":344,"order":396},"2000年伯克希尔股东大会","2000nian-bo-ke-xi-er-gu-dong-da-hui",{"title":404,"slug":405,"category":335,"order":406},"1962 巴菲特致合伙人信","1962-ba-fei-te-zhi-he-huo-ren-xin",8,{"title":408,"slug":409,"category":340,"order":406},"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":411,"slug":412,"category":344,"order":406},"2001年伯克希尔股东大会","2001nian-bo-ke-xi-er-gu-dong-da-hui",{"title":414,"slug":415,"category":335,"order":416},"1962年11月 巴菲特致合伙人信","1962nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",9,{"title":418,"slug":419,"category":340,"order":416},"巴菲特：1977年谈通货膨胀","ba-fei-te-1977nian-tan-tong-huo-peng-zhang",{"title":421,"slug":422,"category":344,"order":416},"2002年伯克希尔股东大会","2002nian-bo-ke-xi-er-gu-dong-da-hui",{"title":424,"slug":425,"category":335,"order":426},"1962年12月 巴菲特致合伙人信","1962nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",10,{"title":428,"slug":429,"category":340,"order":426},"巴菲特：1979年谈股市","ba-fei-te-1979nian-tan-gu-shi",{"title":431,"slug":432,"category":344,"order":426},"2003年伯克希尔股东大会","2003nian-bo-ke-xi-er-gu-dong-da-hui",{"title":434,"slug":435,"category":335,"order":436},"1962年中 巴菲特致合伙人信","1962nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",11,{"title":438,"slug":439,"category":340,"order":436},"巴菲特：1982年谈指数期货","ba-fei-te-1982nian-tan-zhi-shu-qi-huo",{"title":441,"slug":442,"category":344,"order":436},"2004年伯克希尔股东大会","2004nian-bo-ke-xi-er-gu-dong-da-hui",{"title":444,"slug":445,"category":335,"order":322},"1963 巴菲特致合伙人信","1963-ba-fei-te-zhi-he-huo-ren-xin",{"title":447,"slug":448,"category":340,"order":322},"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":450,"slug":451,"category":344,"order":322},"2005年伯克希尔股东大会","2005nian-bo-ke-xi-er-gu-dong-da-hui",{"title":453,"slug":454,"category":335,"order":455},"1963年11月 巴菲特致合伙人信","1963nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",13,{"title":457,"slug":458,"category":340,"order":455},"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":460,"slug":461,"category":344,"order":455},"2006年伯克希尔股东大会","2006nian-bo-ke-xi-er-gu-dong-da-hui",{"title":463,"slug":464,"category":335,"order":465},"1963年12月 巴菲特致合伙人信","1963nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",14,{"title":467,"slug":468,"category":340,"order":465},"巴菲特：1984年哥大商学院演讲","ba-fei-te-1984nian-ge-da-shang-xue-yuan-yan-jiang",{"title":470,"slug":471,"category":344,"order":465},"2007年伯克希尔股东大会","2007nian-bo-ke-xi-er-gu-dong-da-hui",{"title":473,"slug":474,"category":335,"order":475},"1963年中 巴菲特致合伙人信","1963nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",15,{"title":477,"slug":478,"category":340,"order":475},"巴菲特：1985年谈投资","ba-fei-te-1985nian-tan-tou-zi",{"title":480,"slug":481,"category":344,"order":475},"2008年伯克希尔股东大会","2008nian-bo-ke-xi-er-gu-dong-da-hui",{"title":483,"slug":484,"category":335,"order":485},"1964 巴菲特致合伙人信","1964-ba-fei-te-zhi-he-huo-ren-xin",16,{"title":487,"slug":488,"category":340,"order":485},"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":490,"slug":491,"category":344,"order":485},"2009年伯克希尔股东大会","2009nian-bo-ke-xi-er-gu-dong-da-hui",{"title":493,"slug":494,"category":335,"order":495},"1964年中 巴菲特致合伙人信","1964nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",17,{"title":497,"slug":498,"category":340,"order":495},"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":500,"slug":501,"category":344,"order":495},"2010年伯克希尔股东大会","2010nian-bo-ke-xi-er-gu-dong-da-hui",{"title":503,"slug":504,"category":335,"order":505},"1965 巴菲特致合伙人信","1965-ba-fei-te-zhi-he-huo-ren-xin",18,{"title":507,"slug":508,"category":340,"order":505},"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":510,"slug":511,"category":344,"order":505},"2011年伯克希尔股东大会","2011nian-bo-ke-xi-er-gu-dong-da-hui",{"title":513,"slug":514,"category":515,"order":516},"1965 巴菲特致股东信","1965-ba-fei-te-zhi-gu-dong-xin","致股东信",19,{"title":518,"slug":519,"category":340,"order":516},"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":521,"slug":522,"category":344,"order":516},"2012年伯克希尔股东大会","2012nian-bo-ke-xi-er-gu-dong-da-hui",{"title":524,"slug":525,"category":335,"order":526},"1965年11月 巴菲特致合伙人信","1965nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",20,{"title":528,"slug":529,"category":340,"order":526},"巴菲特：1988年谈投资","ba-fei-te-1988nian-tan-tou-zi",{"title":531,"slug":532,"category":344,"order":526},"2013年伯克希尔股东大会","2013nian-bo-ke-xi-er-gu-dong-da-hui",{"title":534,"slug":535,"category":335,"order":536},"1965年中 巴菲特致合伙人信","1965nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",21,{"title":538,"slug":539,"category":340,"order":536},"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":541,"slug":542,"category":344,"order":536},"2014年伯克希尔股东大会","2014nian-bo-ke-xi-er-gu-dong-da-hui",{"title":544,"slug":545,"category":335,"order":546},"1966 巴菲特致合伙人信","1966-ba-fei-te-zhi-he-huo-ren-xin",22,{"title":548,"slug":549,"category":340,"order":546},"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":551,"slug":552,"category":344,"order":546},"2015年伯克希尔股东大会","2015nian-bo-ke-xi-er-gu-dong-da-hui",{"title":554,"slug":555,"category":515,"order":556},"1966 巴菲特致股东信","1966-ba-fei-te-zhi-gu-dong-xin",23,{"title":558,"slug":559,"category":340,"order":556},"巴菲特：1991年圣母大学演讲","ba-fei-te-1991nian-sheng-mu-da-xue-yan-jiang",{"title":561,"slug":562,"category":344,"order":556},"2016年伯克希尔股东大会","2016nian-bo-ke-xi-er-gu-dong-da-hui",{"title":564,"slug":565,"category":335,"order":566},"1966年11月 巴菲特致合伙人信","1966nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",24,{"title":568,"slug":569,"category":340,"order":566},"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":571,"slug":572,"category":344,"order":566},"2017年伯克希尔股东大会","2017nian-bo-ke-xi-er-gu-dong-da-hui",{"title":574,"slug":575,"category":335,"order":576},"1966年中 巴菲特致合伙人信","1966nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",25,{"title":578,"slug":579,"category":340,"order":576},"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":581,"slug":582,"category":344,"order":576},"2018年伯克希尔股东大会","2018nian-bo-ke-xi-er-gu-dong-da-hui",{"title":584,"slug":585,"category":335,"order":586},"1967 巴菲特致合伙人信","1967-ba-fei-te-zhi-he-huo-ren-xin",26,{"title":588,"slug":589,"category":340,"order":586},"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":591,"slug":592,"category":344,"order":586},"2019年伯克希尔股东大会","2019nian-bo-ke-xi-er-gu-dong-da-hui",{"title":594,"slug":595,"category":515,"order":596},"1967 巴菲特致股东信","1967-ba-fei-te-zhi-gu-dong-xin",27,{"title":598,"slug":599,"category":340,"order":596},"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":601,"slug":602,"category":344,"order":596},"2020年伯克希尔股东大会","2020nian-bo-ke-xi-er-gu-dong-da-hui",{"title":604,"slug":605,"category":335,"order":606},"1967年10月 巴菲特致合伙人信","1967nian-10yue-ba-fei-te-zhi-he-huo-ren-xin",28,{"title":608,"slug":609,"category":340,"order":606},"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":611,"slug":612,"category":344,"order":606},"2021年伯克希尔股东大会","2021nian-bo-ke-xi-er-gu-dong-da-hui",{"title":614,"slug":615,"category":335,"order":616},"1967年11月 巴菲特致合伙人信","1967nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",29,{"title":618,"slug":619,"category":340,"order":616},"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":621,"slug":622,"category":344,"order":616},"2022年伯克希尔股东大会","2022nian-bo-ke-xi-er-gu-dong-da-hui",{"title":624,"slug":625,"category":335,"order":626},"1967年中 巴菲特致合伙人信","1967nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",30,{"title":628,"slug":629,"category":340,"order":626},"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":631,"slug":632,"category":344,"order":626},"2023年伯克希尔股东大会","2023nian-bo-ke-xi-er-gu-dong-da-hui",{"title":634,"slug":635,"category":335,"order":636},"1968 巴菲特致合伙人信","1968-ba-fei-te-zhi-he-huo-ren-xin",31,{"title":638,"slug":639,"category":340,"order":636},"巴菲特：1998年华盛顿大学谈话","ba-fei-te-1998nian-hua-sheng-dun-da-xue-tan-hua",{"title":641,"slug":642,"category":344,"order":636},"2024年伯克希尔股东大会","2024nian-bo-ke-xi-er-gu-dong-da-hui",{"title":644,"slug":645,"category":515,"order":646},"1968 巴菲特致股东信","1968-ba-fei-te-zhi-gu-dong-xin",32,{"title":648,"slug":649,"category":340,"order":646},"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":651,"slug":652,"category":344,"order":646},"2025年伯克希尔股东大会","2025nian-bo-ke-xi-er-gu-dong-da-hui",{"title":654,"slug":655,"category":335,"order":656},"1968年11月 巴菲特致合伙人信","1968nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",33,{"title":658,"slug":659,"category":340,"order":656},"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":661,"slug":662,"category":344,"order":656},"2026年伯克希尔股东大会","2026nian-bo-ke-xi-er-gu-dong-da-hui",{"title":664,"slug":665,"category":335,"order":666},"1968年中 巴菲特致合伙人信","1968nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",34,{"title":668,"slug":669,"category":340,"order":666},"巴菲特：1999年巴菲特谈股市","ba-fei-te-1999nian-ba-fei-te-tan-gu-shi",{"title":671,"slug":672,"category":515,"order":673},"1969 巴菲特致股东信","1969-ba-fei-te-zhi-gu-dong-xin",35,{"title":675,"slug":676,"category":340,"order":673},"巴菲特：2001年佐治亚大学演讲","ba-fei-te-2001nian-zuo-zhi-ya-da-xue-yan-jiang",{"title":678,"slug":679,"category":335,"order":680},"1969年10月 巴菲特致合伙人信","1969nian-10yue-ba-fei-te-zhi-he-huo-ren-xin",36,{"title":682,"slug":683,"category":340,"order":680},"巴菲特：2001年保险业的FDIC","ba-fei-te-2001nian-bao-xian-ye-de-fdic",{"title":685,"slug":686,"category":335,"order":687},"1969年12月 巴菲特致合伙人信","1969nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",37,{"title":689,"slug":690,"category":340,"order":687},"巴菲特：2001年对话内大商学院","ba-fei-te-2001nian-dui-hua-nei-da-shang-xue-yuan",{"title":692,"slug":693,"category":335,"order":694},"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":696,"slug":697,"category":340,"order":694},"巴菲特：2001年巴菲特谈股市","ba-fei-te-2001nian-ba-fei-te-tan-gu-shi",{"title":699,"slug":700,"category":335,"order":701},"1969年5月 巴菲特致合伙人信","1969nian-5yue-ba-fei-te-zhi-he-huo-ren-xin",39,{"title":703,"slug":704,"category":340,"order":701},"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":706,"slug":707,"category":515,"order":708},"1970 巴菲特致股东信","1970-ba-fei-te-zhi-gu-dong-xin",40,{"title":710,"slug":711,"category":340,"order":708},"巴菲特：2002年哥大商学院演讲","ba-fei-te-2002nian-ge-da-shang-xue-yuan-yan-jiang",{"title":713,"slug":714,"category":335,"order":715},"1970年2月 巴菲特致合伙人信","1970nian-2yue-ba-fei-te-zhi-he-huo-ren-xin",41,{"title":717,"slug":718,"category":340,"order":715},"巴菲特：2002年股票期权与常识","ba-fei-te-2002nian-gu-piao-qi-quan-yu-chang-shi",{"title":720,"slug":721,"category":515,"order":722},"1971 巴菲特致股东信","1971-ba-fei-te-zhi-gu-dong-xin",42,{"title":724,"slug":725,"category":340,"order":722},"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":727,"slug":728,"category":515,"order":729},"1972 巴菲特致股东信","1972-ba-fei-te-zhi-gu-dong-xin",43,{"title":731,"slug":732,"category":340,"order":729},"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":734,"slug":735,"category":515,"order":736},"1973 巴菲特致股东信","1973-ba-fei-te-zhi-gu-dong-xin",44,{"title":738,"slug":739,"category":340,"order":736},"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":741,"slug":742,"category":515,"order":743},"1974 巴菲特致股东信","1974-ba-fei-te-zhi-gu-dong-xin",45,{"title":745,"slug":746,"category":340,"order":743},"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":748,"slug":749,"category":515,"order":750},"1975 巴菲特致股东信","1975-ba-fei-te-zhi-gu-dong-xin",46,{"title":752,"slug":753,"category":340,"order":750},"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":755,"slug":756,"category":515,"order":757},"1976 巴菲特致股东信","1976-ba-fei-te-zhi-gu-dong-xin",47,{"title":759,"slug":760,"category":340,"order":757},"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":762,"slug":763,"category":515,"order":764},"1977 巴菲特致股东信","1977-ba-fei-te-zhi-gu-dong-xin",48,{"title":766,"slug":767,"category":340,"order":764},"巴菲特：2003年沃伦在担心什么","ba-fei-te-2003nian-wo-lun-zai-dan-xin-shi-me",{"title":769,"slug":770,"category":515,"order":771},"1978 巴菲特致股东信","1978-ba-fei-te-zhi-gu-dong-xin",49,{"title":773,"slug":774,"category":340,"order":771},"巴菲特：2003年股息巫术","ba-fei-te-2003nian-gu-xi-wu-shu",{"title":776,"slug":777,"category":515,"order":778},"1979 巴菲特致股东信","1979-ba-fei-te-zhi-gu-dong-xin",50,{"title":780,"slug":781,"category":340,"order":778},"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":783,"slug":784,"category":515,"order":785},"1980 巴菲特致股东信","1980-ba-fei-te-zhi-gu-dong-xin",51,{"title":787,"slug":788,"category":340,"order":785},"巴菲特：2004年专访苏珊·巴菲特","ba-fei-te-2004nian-zhuan-fang-su-shan-ba-fei-te",{"title":790,"slug":791,"category":515,"order":792},"1981 巴菲特致股东信","1981-ba-fei-te-zhi-gu-dong-xin",52,{"title":794,"slug":795,"category":340,"order":792},"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":797,"slug":798,"category":515,"order":799},"1982 巴菲特致股东信","1982-ba-fei-te-zhi-gu-dong-xin",53,{"title":801,"slug":802,"category":340,"order":799},"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":804,"slug":805,"category":515,"order":806},"1983 巴菲特致股东信","1983-ba-fei-te-zhi-gu-dong-xin",54,{"title":808,"slug":809,"category":340,"order":806},"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":811,"slug":812,"category":515,"order":813},"1984 巴菲特致股东信","1984-ba-fei-te-zhi-gu-dong-xin",55,{"title":815,"slug":816,"category":340,"order":813},"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":818,"slug":819,"category":515,"order":820},"1985 巴菲特致股东信","1985-ba-fei-te-zhi-gu-dong-xin",56,{"title":822,"slug":823,"category":340,"order":820},"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":825,"slug":826,"category":515,"order":827},"1986 巴菲特致股东信","1986-ba-fei-te-zhi-gu-dong-xin",57,{"title":829,"slug":830,"category":340,"order":827},"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":832,"slug":833,"category":515,"order":834},"1987 巴菲特致股东信","1987-ba-fei-te-zhi-gu-dong-xin",58,{"title":836,"slug":837,"category":340,"order":834},"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":839,"slug":840,"category":515,"order":841},"1988 巴菲特致股东信","1988-ba-fei-te-zhi-gu-dong-xin",59,{"title":843,"slug":844,"category":340,"order":841},"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":846,"slug":847,"category":515,"order":848},"1989 巴菲特致股东信","1989-ba-fei-te-zhi-gu-dong-xin",60,{"title":850,"slug":851,"category":340,"order":848},"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":853,"slug":854,"category":515,"order":855},"1990 巴菲特致股东信","1990-ba-fei-te-zhi-gu-dong-xin",61,{"title":857,"slug":858,"category":340,"order":855},"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":860,"slug":861,"category":515,"order":862},"1991 巴菲特致股东信","1991-ba-fei-te-zhi-gu-dong-xin",62,{"title":864,"slug":865,"category":340,"order":862},"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":867,"slug":868,"category":515,"order":869},"1992 巴菲特致股东信","1992-ba-fei-te-zhi-gu-dong-xin",63,{"title":871,"slug":872,"category":340,"order":869},"巴菲特：2006年慈善捐赠承诺","ba-fei-te-2006nian-ci-shan-juan-zeng-cheng-nuo",{"title":874,"slug":875,"category":515,"order":876},"1993 巴菲特致股东信","1993-ba-fei-te-zhi-gu-dong-xin",64,{"title":878,"slug":879,"category":340,"order":876},"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":881,"slug":882,"category":515,"order":883},"1994 巴菲特致股东信","1994-ba-fei-te-zhi-gu-dong-xin",65,{"title":885,"slug":886,"category":340,"order":883},"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":888,"slug":889,"category":515,"order":890},"1995 巴菲特致股东信","1995-ba-fei-te-zhi-gu-dong-xin",66,{"title":892,"slug":893,"category":340,"order":890},"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":895,"slug":896,"category":515,"order":897},"1996 巴菲特致股东信","1996-ba-fei-te-zhi-gu-dong-xin",67,{"title":899,"slug":900,"category":340,"order":897},"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":902,"slug":903,"category":515,"order":904},"1997 巴菲特致股东信","1997-ba-fei-te-zhi-gu-dong-xin",68,{"title":906,"slug":907,"category":340,"order":904},"巴菲特：2007年巴菲特接见Dardashti","ba-fei-te-2007nian-ba-fei-te-jie-jian-dardashti",{"title":909,"slug":910,"category":515,"order":911},"1998 巴菲特致股东信","1998-ba-fei-te-zhi-gu-dong-xin",69,{"title":913,"slug":914,"category":340,"order":911},"巴菲特：2007年接受央视专访","ba-fei-te-2007nian-jie-shou-yang-shi-zhuan-fang",{"title":916,"slug":917,"category":515,"order":918},"1999 巴菲特致股东信","1999-ba-fei-te-zhi-gu-dong-xin",70,{"title":920,"slug":921,"category":340,"order":918},"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":923,"slug":924,"category":515,"order":925},"2000 巴菲特致股东信","2000-ba-fei-te-zhi-gu-dong-xin",71,{"title":927,"slug":928,"category":340,"order":925},"巴菲特：2007年查理罗斯专访","ba-fei-te-2007nian-cha-li-luo-si-zhuan-fang",{"title":930,"slug":931,"category":515,"order":932},"2001 巴菲特致股东信","2001-ba-fei-te-zhi-gu-dong-xin",72,{"title":934,"slug":935,"category":340,"order":932},"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":937,"slug":938,"category":515,"order":939},"2002 巴菲特致股东信","2002-ba-fei-te-zhi-gu-dong-xin",73,{"title":941,"slug":942,"category":340,"order":939},"巴菲特：2008年买入美国正当时","ba-fei-te-2008nian-mai-ru-mei-guo-zheng-dang-shi",{"title":944,"slug":945,"category":515,"order":946},"2003 巴菲特致股东信","2003-ba-fei-te-zhi-gu-dong-xin",74,{"title":948,"slug":949,"category":340,"order":946},"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":951,"slug":952,"category":515,"order":953},"2004 巴菲特致股东信","2004-ba-fei-te-zhi-gu-dong-xin",75,{"title":955,"slug":956,"category":340,"order":953},"巴菲特：2008年对话商学院学生","ba-fei-te-2008nian-dui-hua-shang-xue-yuan-xue-sheng",{"title":958,"slug":959,"category":515,"order":960},"2005 巴菲特致股东信","2005-ba-fei-te-zhi-gu-dong-xin",76,{"title":962,"slug":963,"category":340,"order":960},"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":965,"slug":966,"category":515,"order":967},"2006 巴菲特致股东信","2006-ba-fei-te-zhi-gu-dong-xin",77,{"title":969,"slug":970,"category":340,"order":967},"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":972,"slug":973,"category":515,"order":974},"2007 巴菲特致股东信","2007-ba-fei-te-zhi-gu-dong-xin",78,{"title":976,"slug":977,"category":340,"order":974},"巴菲特：2008年给保尔森的信","ba-fei-te-2008nian-gei-bao-er-sen-de-xin",{"title":979,"slug":980,"category":515,"order":981},"2008 巴菲特致股东信","2008-ba-fei-te-zhi-gu-dong-xin",79,{"title":983,"slug":984,"category":340,"order":981},"巴菲特：2008年解析经济危机","ba-fei-te-2008nian-jie-xi-jing-ji-wei-ji",{"title":986,"slug":987,"category":515,"order":988},"2009 巴菲特致股东信","2009-ba-fei-te-zhi-gu-dong-xin",80,{"title":990,"slug":991,"category":340,"order":988},"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":993,"slug":994,"category":515,"order":995},"2010 巴菲特致股东信","2010-ba-fei-te-zhi-gu-dong-xin",81,{"title":997,"slug":998,"category":340,"order":995},"巴菲特：2009年CNBC 专访","ba-fei-te-2009nian-cnbc-zhuan-fang",{"title":1000,"slug":1001,"category":515,"order":1002},"2011 巴菲特致股东信","2011-ba-fei-te-zhi-gu-dong-xin",82,{"title":1004,"slug":1005,"category":340,"order":1002},"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":1007,"slug":1008,"category":515,"order":1009},"2012 巴菲特致股东信","2012-ba-fei-te-zhi-gu-dong-xin",83,{"title":1011,"slug":1012,"category":340,"order":1009},"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":1014,"slug":1015,"category":515,"order":1016},"2013 巴菲特致股东信","2013-ba-fei-te-zhi-gu-dong-xin",84,{"title":1018,"slug":1019,"category":340,"order":1016},"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":1021,"slug":1022,"category":515,"order":1023},"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":1025,"slug":1026,"category":340,"order":1023},"巴菲特：2009年收购BNSF 铁路","ba-fei-te-2009nian-shou-gou-bnsf-tie-lu",{"title":1028,"slug":1029,"category":515,"order":1030},"2014 副董事长的思考","2014-fu-dong-shi-chang-de-si-kao",86,{"title":1032,"slug":1033,"category":340,"order":1030},"巴菲特：2009年美元效应","ba-fei-te-2009nian-mei-yuan-xiao-ying",{"title":1035,"slug":1036,"category":515,"order":1037},"2014 巴菲特致股东信","2014-ba-fei-te-zhi-gu-dong-xin",87,{"title":1039,"slug":1040,"category":340,"order":1037},"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":1042,"slug":1043,"category":515,"order":1044},"2015 巴菲特致股东信","2015-ba-fei-te-zhi-gu-dong-xin",88,{"title":1046,"slug":1047,"category":340,"order":1044},"巴菲特：2010年\"捐赠誓言\"计划","ba-fei-te-2010nian-juan-zeng-shi-yan-ji-hua",{"title":1049,"slug":1050,"category":515,"order":1051},"2016 巴菲特致股东信","2016-ba-fei-te-zhi-gu-dong-xin",89,{"title":1053,"slug":1054,"category":340,"order":1051},"巴菲特：2010年CNBC 专访","ba-fei-te-2010nian-cnbc-zhuan-fang",{"title":1056,"slug":1057,"category":515,"order":1058},"2017 巴菲特致股东信","2017-ba-fei-te-zhi-gu-dong-xin",90,{"title":1060,"slug":1061,"category":340,"order":1058},"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":1063,"slug":1064,"category":515,"order":1065},"2018 巴菲特致股东信","2018-ba-fei-te-zhi-gu-dong-xin",91,{"title":1067,"slug":1068,"category":340,"order":1065},"巴菲特：2010年央视财经采访","ba-fei-te-2010nian-yang-shi-cai-jing-cai-fang",{"title":1070,"slug":1071,"category":515,"order":1072},"2019 巴菲特致股东信","2019-ba-fei-te-zhi-gu-dong-xin",92,{"title":1074,"slug":1075,"category":340,"order":1072},"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":1077,"slug":1078,"category":515,"order":1079},"2020 巴菲特致股东信","2020-ba-fei-te-zhi-gu-dong-xin",93,{"title":1081,"slug":1082,"category":340,"order":1079},"巴菲特：2010年慈善中国行","ba-fei-te-2010nian-ci-shan-zhong-guo-xing",{"title":1084,"slug":1085,"category":515,"order":1086},"2021 巴菲特致股东信","2021-ba-fei-te-zhi-gu-dong-xin",94,{"title":1088,"slug":1089,"category":340,"order":1086},"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":1091,"slug":1092,"category":515,"order":1093},"2022 巴菲特致股东信","2022-ba-fei-te-zhi-gu-dong-xin",95,{"title":1095,"slug":1096,"category":340,"order":1093},"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":1098,"slug":1099,"category":515,"order":1100},"2023 巴菲特致股东信","2023-ba-fei-te-zhi-gu-dong-xin",96,{"title":1102,"slug":1103,"category":340,"order":1100},"巴菲特：2011年500 亿美元的决定","ba-fei-te-2011nian-500-yi-mei-yuan-de-jue-ding",{"title":1105,"slug":1106,"category":515,"order":1107},"2024 巴菲特致股东信","2024-ba-fei-te-zhi-gu-dong-xin",97,{"title":1109,"slug":1110,"category":340,"order":1107},"巴菲特：2011年CNBC 专访","ba-fei-te-2011nian-cnbc-zhuan-fang",{"title":1112,"slug":1113,"category":515,"order":1114},"2025 巴菲特致股东信","2025-ba-fei-te-zhi-gu-dong-xin",98,{"title":1116,"slug":1117,"category":340,"order":1114},"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":1119,"slug":1120,"category":515,"order":1121},"2025 感恩节致辞","2025-gan-en-jie-zhi-ci",99,{"title":1123,"slug":1124,"category":340,"order":1121},"巴菲特：2011年查理·罗斯专访","ba-fei-te-2011nian-cha-li-luo-si-zhuan-fang",{"title":1126,"slug":1127,"category":515,"order":1128},"2026 阿贝尔致股东信","2026-a-bei-er-zhi-gu-dong-xin",100,{"title":1130,"slug":1131,"category":340,"order":1128},"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":1133,"slug":1134,"category":340,"order":1135},"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":1137,"slug":1138,"category":340,"order":1139},"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":1141,"slug":1142,"category":340,"order":1143},"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":1145,"slug":1146,"category":340,"order":1147},"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":1149,"slug":1150,"category":340,"order":1151},"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":1153,"slug":1154,"category":340,"order":1155},"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":1157,"slug":1158,"category":340,"order":1159},"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":1161,"slug":1162,"category":340,"order":1163},"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":1165,"slug":1166,"category":340,"order":1167},"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":1169,"slug":1170,"category":340,"order":1171},"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":1173,"slug":1174,"category":340,"order":1175},"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":1177,"slug":1178,"category":340,"order":1179},"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":1181,"slug":1182,"category":340,"order":1183},"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":1185,"slug":1186,"category":340,"order":1187},"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":1189,"slug":1190,"category":340,"order":1191},"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":1193,"slug":1194,"category":340,"order":1195},"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":1197,"slug":1198,"category":340,"order":1199},"巴菲特：2015年追忆唐基奥","ba-fei-te-2015nian-zhui-yi-tang-ji-ao",117,{"title":1201,"slug":1202,"category":340,"order":1203},"巴菲特：2015慈善承诺倡议","ba-fei-te-2015ci-shan-cheng-nuo-chang-yi",118,{"title":1205,"slug":1206,"category":340,"order":1207},"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":1209,"slug":1210,"category":340,"order":1211},"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":1213,"slug":1214,"category":340,"order":1215},"巴菲特：2017年对话北京大学学生：最好的投资是投资自己","ba-fei-te-2017nian-dui-hua-bei-jing-da-xue-xue-sheng-zui-hao-de-tou-zi-shi-tou-zi-zi-ji",121,{"title":1217,"slug":1218,"category":340,"order":1219},"巴菲特：2017年接受CNBC采访","ba-fei-te-2017nian-jie-shou-cnbccai-fang",122,{"title":1221,"slug":1222,"category":340,"order":1223},"巴菲特：2017年接受PBS NEWS专访","ba-fei-te-2017nian-jie-shou-pbs-newszhuan-fang",123,{"title":1225,"slug":1226,"category":340,"order":1227},"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":1229,"slug":1230,"category":340,"order":1231},"巴菲特：2017年美国的未来","ba-fei-te-2017nian-mei-guo-de-wei-lai",125,{"title":1233,"slug":1234,"category":340,"order":1235},"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":1237,"slug":1238,"category":340,"order":1239},"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":1241,"slug":1242,"category":340,"order":1243},"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":1245,"slug":1246,"category":340,"order":1247},"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":1249,"slug":1250,"category":340,"order":1251},"巴菲特：2020年接受CNBC专访","ba-fei-te-2020nian-jie-shou-cnbczhuan-fang",130,{"title":1253,"slug":1254,"category":340,"order":1255},"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":1257,"slug":1258,"category":340,"order":1259},"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":1261,"slug":1262,"category":340,"order":1263},"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":1265,"slug":1266,"category":340,"order":1267},"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":1269,"slug":1270,"category":340,"order":1271},"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":1273,"slug":1274,"category":340,"order":1275},"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":1277,"slug":1278,"category":340,"order":1279},"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":1281,"slug":1282,"category":340,"order":1283},"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":1285,"slug":1286,"category":340,"order":1287},"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":1289,"slug":1290,"category":340,"order":1291},"巴菲特：2023年接受CNBC专访","ba-fei-te-2023nian-jie-shou-cnbczhuan-fang",140,{"title":1293,"slug":1294,"category":340,"order":1295},"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":1297,"slug":1298,"category":340,"order":1299},"巴菲特：2025年接受cbs采访","ba-fei-te-2025nian-jie-shou-cbscai-fang",142,{"title":1301,"slug":1302,"category":340,"order":1303},"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":1305,"slug":1306,"category":340,"order":1307},"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":1309,"slug":1310,"category":340,"order":1311},"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":1313,"slug":1314,"category":340,"order":1315},"巴菲特72条投资经典语录","ba-fei-te-72tiao-tou-zi-jing-dian-yu-lu",146,{"title":1317,"slug":1318,"category":340,"order":1319},"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":1321,"slug":1322,"category":340,"order":1323},"巴菲特：如何建立能力圈","ba-fei-te-ru-he-jian-li-neng-li-quan",148,{"title":1325,"slug":1326,"category":340,"order":1327},"巴菲特：巴菲特估值逻辑","ba-fei-te-ba-fei-te-gu-zhi-luo-ji",149,{"title":1329,"slug":1330,"category":340,"order":1331},"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":1333,"slug":1334,"category":340,"order":1335},"考夫曼：Glenair 企业文化","kao-fu-man-glenair-qi-ye-wen-hua",151,[1337,1341,1344,1347,1350,1353,1356,1359,1362,1366,1368,1371,1374,1376,1377,1379,1381,1384,1387,1389,1392,1395,1398,1401,1404,1408,1411,1414,1417,1420,1423,1426,1429,1432,1435,1439,1442,1445,1448,1451,1454,1457,1460,1464,1467,1470,1473,1476,1479,1482,1485,1488,1491,1494,1497,1500,1503,1506,1509,1512,1515,1518,1521,1524,1527,1530,1533,1536,1539,1542,1545,1550,1554,1558,1562,1566,1570,1574,1578,1582,1586,1590,1594,1598,1602,1606,1610,1614,1618,1622,1626],{"title":1338,"slug":1339,"category":1340,"order":336},"本分","benfen","核心哲学",{"title":1342,"slug":1343,"category":1340,"order":290},"平常心","pingchangxin",{"title":1345,"slug":1346,"category":1340,"order":296},"做对的事情","zuoduideshiqing",{"title":1348,"slug":1349,"category":1340,"order":366},"把事情做对","bashiqingzuodui",{"title":1351,"slug":1352,"category":1340,"order":376},"能力圈","nengliquan",{"title":1354,"slug":1355,"category":1340,"order":386},"不做什么","buzuoshenme",{"title":1357,"slug":1358,"category":1340,"order":396},"敢为天下后","ganweitianxiahou",{"title":1360,"slug":1361,"category":1340,"order":406},"消费者导向","xiaofeizhedaoxiang",{"title":1363,"slug":1364,"category":1365,"order":416},"价值投资","jiazhitouzi","投资理念",{"title":28,"slug":1367,"category":316,"order":426},"fuzhai",{"title":1369,"slug":1370,"category":1365,"order":426},"商业模式","shangyemoshi",{"title":1372,"slug":1373,"category":1365,"order":436},"护城河","huchenghe",{"title":33,"slug":1375,"category":316,"order":436},"jingxianjin",{"title":5,"slug":327,"category":316,"order":322},{"title":37,"slug":1378,"category":1365,"order":322},"xianjinliu",{"title":42,"slug":1380,"category":316,"order":455},"zhenshilirun",{"title":1382,"slug":1383,"category":1365,"order":455},"折现","zhexian",{"title":1385,"slug":1386,"category":1365,"order":465},"安全边际","anquanbianji",{"title":46,"slug":1388,"category":316,"order":465},"jingzichan",{"title":1390,"slug":1391,"category":1365,"order":475},"基本面","jibenmian",{"title":1393,"slug":1394,"category":1365,"order":485},"机会成本","jihuichengben",{"title":1396,"slug":1397,"category":1365,"order":495},"长期持有","zhangqichiyou",{"title":1399,"slug":1400,"category":1365,"order":505},"投机","touji",{"title":1402,"slug":1403,"category":1365,"order":516},"止损","zhisun",{"title":1405,"slug":1406,"category":1407,"order":526},"企业文化","qiyewenhua","企业经营",{"title":1409,"slug":1410,"category":1407,"order":536},"品牌","pinpai",{"title":1412,"slug":1413,"category":1407,"order":546},"差异化","chayihua",{"title":1415,"slug":1416,"category":1407,"order":556},"用户体验","yonghutiyan",{"title":1418,"slug":1419,"category":1407,"order":566},"渠道","qudao",{"title":1421,"slug":1422,"category":1407,"order":576},"平台","pingtai",{"title":1424,"slug":1425,"category":1407,"order":586},"生态系统","shengtaixitong",{"title":1427,"slug":1428,"category":1407,"order":596},"单一产品","danyichanpin",{"title":1430,"slug":1431,"category":1407,"order":606},"造钟人","zaozhongren",{"title":1433,"slug":1434,"category":1407,"order":616},"利润之上的追求","lirunzhishangdezhuiqiu",{"title":1436,"slug":1437,"category":1438,"order":626},"进取心","jinquxin","品格与心性",{"title":1440,"slug":1441,"category":1438,"order":636},"耐心","naixin",{"title":1443,"slug":1444,"category":1438,"order":646},"责任心","zerenxin",{"title":1446,"slug":1447,"category":1438,"order":656},"爱心","aixin",{"title":1449,"slug":1450,"category":1438,"order":666},"信誉","xinyu",{"title":1452,"slug":1453,"category":1438,"order":673},"正直","zhengzhi",{"title":1455,"slug":1456,"category":1438,"order":680},"理性","lixing",{"title":1458,"slug":1459,"category":1438,"order":687},"长期主义","zhangqizhuyi",{"title":1461,"slug":1462,"category":1463,"order":1128},"1999年 《都市快报》采访手记","duanyongping-1999nian-doushikuaibao-caifangshouji","访谈实录",{"title":1465,"slug":1466,"category":1463,"order":1135},"1999年 步步高讲话","duanyongping-1999nian-bubugaojianghua",{"title":1468,"slug":1469,"category":1463,"order":1139},"1999年做客人民大学精彩问答实录","duanyongping-1999nianzuokerenmindaxuejingcaiwendashilu",{"title":1471,"slug":1472,"category":1463,"order":1143},"2000年 《销售与市场》杂志专访","duanyongping-2000nian-xiaoshouyushichang-zazhizhuanfang",{"title":1474,"slug":1475,"category":1463,"order":1147},"2000年在央视“品牌与传播国际论坛”上的演讲","duanyongping-2000nianzaiyangshi-pinpaiyuchuanboguojiluntan-shangdeyanjiang",{"title":1477,"slug":1478,"category":1463,"order":1151},"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":1480,"slug":1481,"category":1463,"order":1155},"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":1483,"slug":1484,"category":1463,"order":1159},"2001年 我为什么要去读书？ —— 《读者》2001年11月刊","duanyongping-2001nian-woweishenmeyaoqudushu-duzhe-2001nian11yuekan",{"title":1486,"slug":1487,"category":1463,"order":1163},"2001年《世界经理人文摘》专访","duanyongping-2001nian-shijiejinglirenwenzhai-zhuanfang",{"title":1489,"slug":1490,"category":1463,"order":1167},"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":1492,"slug":1493,"category":1463,"order":1171},"2003年北京大学总裁班演讲座谈会全程实录","duanyongping-2003nianbeijingdaxuezongcaibanyanjiangzuotanhuiquanchengshilu",{"title":1495,"slug":1496,"category":1463,"order":1175},"2004财富人生—段永平 2004 采访","duanyongping-2004caifurensheng-duanyongping-2004-caifang",{"title":1498,"slug":1499,"category":1463,"order":1179},"2005年步步高十周年“记”念晚会：段永平发言","duanyongping-2005nianbubugaoshizhounian-ji-nianwanhui-duanyongpingfayan",{"title":1501,"slug":1502,"category":1463,"order":1183},"2006年 深度对话网易证券全程实录","duanyongping-2006nian-shenduduihuawangyizhengquanquanchengshilu",{"title":1504,"slug":1505,"category":1463,"order":1187},"2006年做客新浪财经频道聊天全实录","duanyongping-2006nianzuokexinlangcaijingpindaoliaotianquanshilu",{"title":1507,"slug":1508,"category":1463,"order":1191},"2006年浙大“实话实说”","duanyongping-2006nianzheda-shihuashishuo",{"title":1510,"slug":1511,"category":1463,"order":1195},"2007年与巴菲特共进午餐后网易专访","duanyongping-2007nianyubafeitegongjinwucanhouwangyizhuanfang",{"title":1513,"slug":1514,"category":1463,"order":1199},"2007年波士堂访谈","duanyongping-2007nianboshitangfangtan",{"title":1516,"slug":1517,"category":1463,"order":1203},"2009年 深度专访： 探讨公益人生，分享成功体会","duanyongping-2009nian-shenduzhuanfang-tantaogongyirensheng-fenxiangchenggongtihu",{"title":1519,"slug":1520,"category":1463,"order":1207},"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":1522,"slug":1523,"category":1463,"order":1211},"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":1525,"slug":1526,"category":1463,"order":1215},"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":1528,"slug":1529,"category":1463,"order":1219},"2011年买入苹果思考","duanyongping-2011nianmairupingguosikao",{"title":1531,"slug":1532,"category":1463,"order":1223},"2013年浙大演讲","duanyongping-2013nianzhedayanjiang",{"title":1534,"slug":1535,"category":1463,"order":1227},"2016年浙大60周年专访","duanyongping-2016nianzheda60zhounianzhuanfang",{"title":1537,"slug":1538,"category":1463,"order":1231},"2025年浙江大学演讲及问答完整版","duanyongping-2025nianzhejiangdaxueyanjiangjiwendawanzhengban",{"title":1540,"slug":1541,"category":1463,"order":1235},"2025年谈躺平与内卷、与王石交流子女教育","duanyongping-2025niantantangpingyuneijuan-yuwangshijiaoliuzinvjiaoyu",{"title":1543,"slug":1544,"category":1463,"order":1239},"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":1546,"slug":1547,"category":1548,"order":1549},"问答录：第一章 投资大道","dadaotouziwendalu-diyizhangtouzidadao","投资问答录",200,{"title":1551,"slug":1552,"category":1548,"order":1553},"问答录：第二章 商业模式和企业文化","dadaotouziwendalu-dierzhangshangyemoshiheqiyewenhua",201,{"title":1555,"slug":1556,"category":1548,"order":1557},"问答录：第三章 公司点评","dadaotouziwendalu-disanzhanggongsidianping",202,{"title":1559,"slug":1560,"category":1548,"order":1561},"问答录：第四章 人生箴言","dadaotouziwendalu-disizhangrenshengzhenyan",203,{"title":1563,"slug":1564,"category":1548,"order":1565},"问答录：第五章 演讲与访谈","dadaotouziwendalu-diwuzhangyanjiangyufangtan",204,{"title":1567,"slug":1568,"category":1548,"order":1569},"问答录：第六章 更新","dadaotouziwendalu-diliuzhangduzhegengxin",205,{"title":1571,"slug":1572,"category":1548,"order":1573},"商业逻辑篇：第1节：伟大企业","duanyongping-shangyeluoji-di1jie-weidaqiye",401,{"title":1575,"slug":1576,"category":1548,"order":1577},"商业逻辑篇：第2节：商业模式","duanyongping-shangyeluoji-di2jie-shangyemoshi",402,{"title":1579,"slug":1580,"category":1548,"order":1581},"商业逻辑篇：第3节：企业文化","duanyongping-shangyeluoji-di3jie-qiyewenhua",403,{"title":1583,"slug":1584,"category":1548,"order":1585},"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":1587,"slug":1588,"category":1548,"order":1589},"商业逻辑篇：第5节：品牌、营销与广告","duanyongping-shangyeluoji-di5jie-pinpai-yingxiao-yu-guanggao",405,{"title":1591,"slug":1592,"category":1548,"order":1593},"商业逻辑篇：第6节：收购和多元化","duanyongping-shangyeluoji-di6jie-shougouheduoyuanhua",406,{"title":1595,"slug":1596,"category":1548,"order":1597},"商业逻辑篇：第7节：Stop doing list（不为清单）","duanyongping-shangyeluoji-di7jie-stop-doing-list-buweiqingdan",407,{"title":1599,"slug":1600,"category":1548,"order":1601},"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":1603,"slug":1604,"category":1548,"order":1605},"投资逻辑篇：第1章：投资理念","duanyongping-touziluoji-di1zhang-touzilinian",410,{"title":1607,"slug":1608,"category":1548,"order":1609},"投资逻辑篇：第2章：投资理解","duanyongping-touziluoji-di2jie-touzilijie",411,{"title":1611,"slug":1612,"category":1548,"order":1613},"投资问答录：第3章 golf和投资","duanyongping-touziluoji-di3zhang-golfhetouzi",412,{"title":1615,"slug":1616,"category":1548,"order":1617},"投资逻辑篇：第4章 财务理解","duanyongping-touziwendalu-touziluoji-di4zhang-caiwulijie",413,{"title":1619,"slug":1620,"category":1548,"order":1621},"投资逻辑篇：第5章：估值逻辑","duanyongping-touziluoji-di5zhang-guzhiluoji",414,{"title":1623,"slug":1624,"category":1548,"order":1625},"投资逻辑篇：第6章 投资方法论","duanyongping-touziluoji-di6zhang-touzifangfalun",415,{"title":1627,"slug":1628,"category":1548,"order":1629},"投资逻辑篇：第7章：案例分析","duanyongping-touziluoji-di7zhang-anlifenxi",416,[1631,1634,1637,1640,1644,1648,1651,1655,1657,1660,1663,1666,1670,1673,1676,1679,1682,1686,1689,1692,1695,1698,1702,1705,1708,1710,1713,1716,1719,1722,1725,1728,1731,1734,1737,1740,1743,1746,1749,1752,1755,1758,1761,1764,1767,1770,1773,1776,1779,1782,1785,1788,1791,1794,1797,1800,1803,1806,1809,1812,1815,1818,1821,1824,1827,1830,1834,1837,1840,1843,1846,1850,1853,1856,1859],{"title":1351,"slug":1632,"category":1633,"order":336},"ability-circle","决策与战略",{"title":1635,"slug":1636,"category":1633,"order":290},"逆向思维","inversion",{"title":1393,"slug":1638,"category":1639,"order":296},"opportunity-cost","经济学",{"title":1641,"slug":1642,"category":1643,"order":366},"复利","compound-interest","数学与概率论",{"title":1645,"slug":1646,"category":1647,"order":376},"激励机制","incentives","心理学",{"title":1649,"slug":1650,"category":1643,"order":386},"概率思维","probabilistic-thinking",{"title":1652,"slug":1653,"category":1654,"order":396},"二阶效应","second-order-effects","哲学与逻辑",{"title":1385,"slug":1656,"category":1633,"order":406},"margin-of-safety",{"title":1658,"slug":1659,"category":1647,"order":416},"心理误判","psychology-of-misjudgment",{"title":1661,"slug":1662,"category":1633,"order":426},"检查清单","checklist",{"title":1664,"slug":1665,"category":1639,"order":436},"规模优势","scale-advantage",{"title":1667,"slug":1668,"category":1669,"order":322},"冗余与容错","redundancy","工程学\u002F系统",{"title":1671,"slug":1672,"category":1643,"order":455},"排列组合","combinatorics",{"title":1674,"slug":1675,"category":1643,"order":465},"费马-帕斯卡","fermat-pascal",{"title":1677,"slug":1678,"category":1643,"order":475},"均值回归","regression-to-the-mean",{"title":1680,"slug":1681,"category":1643,"order":485},"量化分析","quantitative-analysis",{"title":1683,"slug":1684,"category":1685,"order":495},"临界点\u002F相变","critical-point-phase-transition","物理学",{"title":1687,"slug":1688,"category":1685,"order":505},"平衡态","equilibrium",{"title":1690,"slug":1691,"category":1685,"order":516},"熵增定律","entropy",{"title":1693,"slug":1694,"category":1685,"order":526},"能量守恒","conservation-of-energy",{"title":1696,"slug":1697,"category":1685,"order":536},"杠杆原理","leverage",{"title":1699,"slug":1700,"category":1701,"order":546},"自然选择","natural-selection","生物学\u002F进化论",{"title":1703,"slug":1704,"category":1701,"order":556},"物竞天择","competition-for-resources",{"title":1706,"slug":1707,"category":1701,"order":566},"进化思维","evolutionary-thinking",{"title":1424,"slug":1709,"category":1701,"order":576},"ecosystem",{"title":1711,"slug":1712,"category":1647,"order":586},"爱好倾向","liking-tendency",{"title":1714,"slug":1715,"category":1647,"order":596},"讨厌倾向","disliking-tendency",{"title":1717,"slug":1718,"category":1647,"order":606},"避免怀疑倾向","doubt-avoidance-tendency",{"title":1720,"slug":1721,"category":1647,"order":616},"一致性倾向","consistency-tendency",{"title":1723,"slug":1724,"category":1647,"order":626},"好奇心倾向","curiosity-tendency",{"title":1726,"slug":1727,"category":1647,"order":636},"康德式公平","kantian-fairness",{"title":1729,"slug":1730,"category":1647,"order":646},"艳羡\u002F妒忌倾向","envy-jealousy-tendency",{"title":1732,"slug":1733,"category":1647,"order":656},"反馈倾向","reciprocation-tendency",{"title":1735,"slug":1736,"category":1647,"order":666},"权威误导","authority-misinfluence",{"title":1738,"slug":1739,"category":1647,"order":673},"重视理由","reason-respecting-tendency",{"title":1741,"slug":1742,"category":1647,"order":680},"过度乐观","over-optimism",{"title":1744,"slug":1745,"category":1647,"order":687},"损失厌恶","loss-aversion",{"title":1747,"slug":1748,"category":1647,"order":694},"否认倾向","denial-tendency",{"title":1750,"slug":1751,"category":1647,"order":701},"过度反应","overreaction-tendency",{"title":1753,"slug":1754,"category":1647,"order":708},"社群影响","social-influence",{"title":1756,"slug":1757,"category":1647,"order":715},"压力倾向","stress-influence-tendency",{"title":1759,"slug":1760,"category":1647,"order":722},"物质主义","materialism-tendency",{"title":1762,"slug":1763,"category":1647,"order":729},"废话倾向","twaddle-tendency",{"title":1765,"slug":1766,"category":1647,"order":736},"确认偏误","confirmation-bias",{"title":1768,"slug":1769,"category":1647,"order":743},"锚定效应","anchoring-effect",{"title":1771,"slug":1772,"category":1647,"order":750},"现时偏差","present-bias",{"title":1774,"slug":1775,"category":1647,"order":757},"贪婪倾向","greed-tendency",{"title":1777,"slug":1778,"category":1639,"order":764},"边际成本\u002F收益","marginal-cost-benefit",{"title":1780,"slug":1781,"category":1639,"order":771},"供需关系","supply-and-demand",{"title":1783,"slug":1784,"category":1639,"order":778},"帕累托最优","pareto-optimality",{"title":1786,"slug":1787,"category":1639,"order":785},"竞争性毁灭","creative-destruction",{"title":1789,"slug":1790,"category":1633,"order":792},"双轨分析","two-track-analysis",{"title":1792,"slug":1793,"category":1633,"order":799},"非线性思维","nonlinear-thinking",{"title":1795,"slug":1796,"category":1633,"order":806},"极化思考","extreme-thinking",{"title":1798,"slug":1799,"category":1633,"order":813},"必要功","necessary-work",{"title":1801,"slug":1802,"category":1669,"order":820},"停机问题","halting-problem",{"title":1804,"slug":1805,"category":1669,"order":827},"闭环系统","closed-loop-system",{"title":1807,"slug":1808,"category":1669,"order":834},"故障安全","fail-safe",{"title":1810,"slug":1811,"category":1669,"order":841},"反向设计","reverse-design",{"title":1813,"slug":1814,"category":1669,"order":848},"瓶颈分析","bottleneck-analysis",{"title":1816,"slug":1817,"category":1654,"order":855},"第一性原理","first-principles",{"title":1819,"slug":1820,"category":1654,"order":862},"证伪思维","falsification",{"title":1822,"slug":1823,"category":1654,"order":869},"奥卡姆剃刀","occams-razor",{"title":1825,"slug":1826,"category":1654,"order":876},"中道思维","middle-way",{"title":1828,"slug":1829,"category":1654,"order":883},"不可知论","agnosticism",{"title":1831,"slug":1832,"category":1833,"order":890},"大数定律","law-of-large-numbers","统计学",{"title":1835,"slug":1836,"category":1833,"order":897},"样本偏差","sample-bias",{"title":1838,"slug":1839,"category":1833,"order":904},"相关性≠因果","correlation-not-causation",{"title":1841,"slug":1842,"category":1833,"order":911},"幸存者偏差","survivorship-bias",{"title":1844,"slug":1845,"category":1833,"order":918},"基本比率","base-rate",{"title":1847,"slug":1848,"category":1849,"order":925},"社会认同","social-proof","社会学",{"title":1851,"slug":1852,"category":1849,"order":932},"部落本能","tribal-instinct",{"title":1854,"slug":1855,"category":1849,"order":939},"金蛋定律","golden-egg-rule",{"title":1857,"slug":1858,"category":1849,"order":946},"互利共生","mutualism",{"title":1860,"slug":1861,"category":1849,"order":953},"激励传导","incentive-transmission",1778291667204]