巴菲特文档集

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记录巴菲特的投资逻辑


11 September 2022

巴菲特:投资者的第一步

学生: 我的问题是关于初始投资者。他们总会面临资金不足的问题。你觉得对于初始投资者应该有什么策略去对应这个问题?这个策略是否和一个已经非常成功的投资者有区别? Student: My question is about a starting investor. They always face cash flow problems. So, what should be the strategy for a starting investor to counter that? Is it any difference from a successful investor with a lot of money?


巴菲特: 当我开始的时候,我的(投资)想法比我的钱多太多了。当我(从哥伦比亚大学)毕业的时候我身上一共有9,800美金。那时的我很快就要结婚而且马上就会有小孩。所以说我有的钱远不够,虽然我有很多想法。我把几千家公司都分析了一遍,发现了不少让我兴奋的投资机会。现在的我们(伯克希尔哈撒韦)反而钱比想法多得多,所以财富这种事情总会改变的。年轻的投资者……在60年前,我的生活其实和现在一模一样的好,我也过得和现在一样快乐。投资的历程才是它的乐趣所在。那时的我未曾想过如果我有100万我会过得会有多好,在我有了100万的时候我也没想过如果有1000万会有多好。事实上,我一辈子都过得非常好。我从未担心过下一顿饭会从哪里来,我睡觉用的床会在哪里。每一天我都过得非常开心,做着我想做的事情。在我21岁时生活是如此,在今天来看也是如此。 Warren Buffett: When I started, I have way more ideas than money. I have 9,800 dollars when I got out of school and I was soon to get married and have children reasonably soon. So, I have very little money but I have lots of ideas. I just went through…look at thousands of companies and there are all kinds of things that stimulate me. Now we’ve got more money than ideas so it shifts all over the time. Young investors…I was having as good time 60 years ago, as I’m having now…I’m having a good time now as I had then. It’s the adventure where the fun is. I did not think to myself if I have a million dollars I’m going to be way better off than I had when I had 10,000 dollars, or if I have ten million I will be better off than 1 million. The truth is I’ve lived well all my life. I’ve never had to worry about where a meal was coming or what bed I would sleep in. I’m having fun every day, doing what I do. That was true when I was 21 and it’s true today.


https://youtu.be/TZd_laW_rpE?t=54m25s

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