[{"data":1,"prerenderedAt":355},["ShallowReactive",2],{"dao-naixin":3},{"id":4,"title":5,"body":6,"category":342,"description":343,"extension":344,"meta":345,"navigation":346,"order":347,"path":348,"seo":349,"seoDescription":350,"seoTitle":351,"slug":352,"stem":353,"__hash__":354},"dao\u002Fdao\u002Fnaixin.md","耐心",{"type":7,"value":8,"toc":313},"minimark",[9,12,16,29,35,38,43,52,57,61,69,74,78,81,86,95,104,112,115,119,134,138,145,149,154,157,161,166,177,181,188,192,198,201,205,208,212,221,225,234,237,252,260,264,272,278,293,298,303],[10,11,5],"h1",{"id":5},[13,14,15],"h2",{"id":15},"定义与起源",[17,18,19,20,24,25,28],"p",{},"耐心作为",[21,22,23],"strong",{},"段永平","\"五心\"框架的组成部分，最早出现在1999年",[21,26,27],{},"步步高","内部讲话中。段永平将其比喻为马拉松比赛中的坚韧，是企业和投资成功的必要条件。",[30,31,32],"blockquote",{},[17,33,34],{},"棋逢对手的时候，我们还必须要有耐心。要知道，我们的比赛都应是超长距离的马拉松的比赛，任何妄图靠一招一式赢取比赛的想法都将是幼稚的。\n——1999年 步步高讲话",[13,36,37],{"id":37},"核心要义",[39,40,42],"h3",{"id":41},"_1-耐心是投资成功的必要条件","1. 耐心是投资成功的必要条件",[17,44,45,46,51],{},"段永平认为，缺乏耐心是大多数人投资失败的原因。耐心不是可选的品质，而是",[47,48,50],"a",{"href":49},"\u002Fdao\u002Fjiazhitouzi","价值投资","的门槛。",[30,53,54],{},[17,55,56],{},"很少人有耐心。同时也很少人能够在投资方面成功。成功的人都必须是要有耐心的……作为投资来说是必须长期坚持的一个东西，你不长期坚持，没有耐心就没有机会得到一个很好的回报。\n——2006年 做客新浪财经频道",[39,58,60],{"id":59},"_2-耐心等待好球出现less-is-more","2. 耐心等待好球出现（less is more）",[17,62,63,64,68],{},"段永平强调投资不需要频繁出手，而是要耐心等待属于自己",[47,65,67],{"href":66},"\u002Fdao\u002Fnengliquan","能力圈","内的机会。",[30,70,71],{},[17,72,73],{},"看准了出手就要狠。似懂非懂很难下手狠。耐心等待总是有机会的。\n——2010-06-02",[39,75,77],{"id":76},"_3-耐心源于对生意的理解而非性格","3. 耐心源于对生意的理解，而非性格",[17,79,80],{},"真正懂了一家公司，自然就拿得住，不需要靠意志力去坚持。",[30,82,83],{},[17,84,85],{},"真懂了就拿得住，不需要什么技巧。\n——2015-01-13",[39,87,89,90,94],{"id":88},"_4-耐心与理性的关系","4. 耐心与",[47,91,93],{"href":92},"\u002Fdao\u002Flixing","理性","的关系",[17,96,97,98,100,101,103],{},"段永平区分了耐心和",[47,99,93],{"href":92},"：耐心更像是性格或个性，而",[47,102,93],{"href":92},"是思考的结果。",[30,105,106],{},[17,107,108,109,111],{},"大道其实也很没耐心，也很想赚快钱。",[47,110,93],{"href":92},"应该是思考的结果，耐心感觉像是个性或者叫性格。\n——大道投资问答录",[13,113,114],{"id":114},"实战案例",[39,116,118],{"id":117},"苹果投资四年只出手一次","苹果投资：四年只出手一次",[17,120,121,122,125,126,129,130,133],{},"段永平引用",[21,123,124],{},"芒格","的话\"你需要的不是大量的行动，而是极大的耐心\"后评论说：\"大道这4年里只真正出手了一次，就是",[21,127,128],{},"苹果","，上一次出手是",[21,131,132],{},"GE","。\"他践行了平均两年做一个大的投资决策，而非频繁交易。",[39,135,137],{"id":136},"网易投资低价买入并持有","网易投资：低价买入并持有",[17,139,140,141,144],{},"段永平在",[21,142,143],{},"网易","股价极低时（约1美元）大量买入并长期持有，展现了在市场恐慌时保持耐心的能力。这一投资后来获得了巨大回报。",[39,146,148],{"id":147},"步步高创业马拉松式经营","步步高创业：马拉松式经营",[17,150,151,153],{},[21,152,27],{},"从1995年创立，坚持\"钱多多做，钱少少做，没钱不做\"的原则，不急于扩张，通过十几年稳健发展成为行业领先企业。段永平将此比喻为\"跑马拉松\"而非\"百米冲刺\"。",[13,155,156],{"id":156},"常见误解",[39,158,160],{"id":159},"误解一耐心就是什么都不做","误解一：耐心就是什么都不做",[17,162,163,164,68],{},"段永平澄清，耐心等待不等于无所事事，而是在等待中积极寻找",[47,165,67],{"href":66},[30,167,168],{},[17,169,170,171,173,174,176],{},"要耐心等待自己",[47,172,67],{"href":66},"内出现投资目标（包括在",[47,175,67],{"href":66},"内积极寻找。）\n——雪球问答",[39,178,180],{"id":179},"误解二价值投资最难的是耐心","误解二：价值投资最难的是耐心",[17,182,183,184,187],{},"有网友问价值投资最难的是什么——是耐心还是其他？段永平回答：\"看他缺什么。我可是见过很懂",[21,185,186],{},"巴菲特","的散户的，不过后来都变大户了。\"暗示耐心固然重要，但更关键的是真正理解企业。",[39,189,191],{"id":190},"误解三耐心等于保守","误解三：耐心等于保守",[17,193,194,195,197],{},"段永平在2001年访谈中解释，",[21,196,27],{},"追求的是\"在安全前提下的快速发展\"，耐心是战略定力而非畏缩不前。",[13,199,200],{"id":200},"思想演变",[39,202,204],{"id":203},"_1990年代企业经营中的坚韧","1990年代：企业经营中的坚韧",[17,206,207],{},"1999年步步高讲话中，耐心主要指企业经营中的长期坚持——像马拉松运动员一样，用坚韧的耐心跑完全程。此时的耐心侧重于企业竞争中的战略定力。",[39,209,211],{"id":210},"_2000年代扩展到投资领域","2000年代：扩展到投资领域",[17,213,214,215,217,218,220],{},"2006年做客新浪财经时，段永平开始将耐心与",[47,216,50],{"href":49},"联系起来，强调\"耐心是一个真正所谓",[47,219,50],{"href":49},"者一定要具有的\"。这一时期耐心从企业经营延伸到投资哲学。",[39,222,224],{"id":223},"_2010年代-2020年代与理性区分并深化","2010年代-2020年代：与理性区分并深化",[17,226,227,228,230,231,233],{},"2010年代，段永平进一步深化了对耐心的理解，将其与",[47,229,93],{"href":92},"区分开来：\"",[47,232,93],{"href":92},"应该是思考的结果，耐心感觉像是个性或者叫性格。\"他承认自己\"也很没耐心\"，说明耐心的难度，但同时通过实践证明了耐心等待的价值。",[13,235,236],{"id":236},"原话引用",[30,238,239],{},[17,240,241,242,246,247,251],{},"我们要以",[47,243,245],{"href":244},"\u002Fdao\u002Fpingchangxin","平常心","去跑出每一步，以坚韧的耐心去坚持下去，以强烈的",[47,248,250],{"href":249},"\u002Fdao\u002Fjinquxin","进取心","去拼搏，去赢取每一场比赛最后的胜利。\n——1999年 步步高讲话",[30,253,254],{},[17,255,256,257,259],{},"耐心是一个真正所谓",[47,258,50],{"href":49},"者一定要具有的，如果你不具有就没有机会。\n——2006年 做客新浪财经频道",[30,261,262],{},[17,263,73],{},[30,265,266],{},[17,267,170,268,173,270,176],{},[47,269,67],{"href":66},[47,271,67],{"href":66},[30,273,274],{},[17,275,108,276,111],{},[47,277,93],{"href":92},[30,279,280],{},[17,281,282,283,287,288,292],{},"要相信的是：",[47,284,286],{"href":285},"\u002Fdao\u002Fzuoduideshiqing","做对的事情","最后会有好结果，或者说做错的事情最后会有大麻烦。至于",[47,289,291],{"href":290},"\u002Fdao\u002Fbashiqingzuodui","把事情做对","则是个过程，有时候快有时候慢，需要投资者耐心等待。\n——2012-05-20",[30,294,295],{},[17,296,297],{},"平均两年做一个大的投资决策的效果肯定比一年做两个更好。\n——2012-06-26",[30,299,300],{},[17,301,302],{},"小额投资人或许更应该耐心地从生活中发现还很便宜的小的好公司。\n——2013-05-28",[30,304,305],{},[17,306,307,308,312],{},"他首先是",[47,309,311],{"href":310},"\u002Fdao\u002Fzhengzhi","正直","的，诚信的，还有一个就是它是能够吃得了苦的，要有耐心，要有百折不挠的精神。\n——2001年《经营天下》访谈",{"title":314,"searchDepth":315,"depth":315,"links":316},"",2,[317,318,326,331,336,341],{"id":15,"depth":315,"text":15},{"id":37,"depth":315,"text":37,"children":319},[320,322,323,324],{"id":41,"depth":321,"text":42},3,{"id":59,"depth":321,"text":60},{"id":76,"depth":321,"text":77},{"id":88,"depth":321,"text":325},"4. 耐心与理性的关系",{"id":114,"depth":315,"text":114,"children":327},[328,329,330],{"id":117,"depth":321,"text":118},{"id":136,"depth":321,"text":137},{"id":147,"depth":321,"text":148},{"id":156,"depth":315,"text":156,"children":332},[333,334,335],{"id":159,"depth":321,"text":160},{"id":179,"depth":321,"text":180},{"id":190,"depth":321,"text":191},{"id":200,"depth":315,"text":200,"children":337},[338,339,340],{"id":203,"depth":321,"text":204},{"id":210,"depth":321,"text":211},{"id":223,"depth":321,"text":224},{"id":236,"depth":315,"text":236},"品格与心性","耐心作为段永平\"五心\"框架的组成部分，最早出现在1999年步步高内部讲话中。段永平将其比喻为马拉松比赛中的坚韧，是企业和投资成功的必要条件。","md",{},true,31,"\u002Fdao\u002Fnaixin",{"title":5,"description":343},"段永平谈耐心：耐心作为段永平\"五心\"框架的组成部分，最早出现在1999年步步高内部讲话中。段永平将其比喻为马拉松比赛中的坚韧，是企业和投资成功的必要条件。","耐心｜大道总纲","naixin","dao\u002Fnaixin","n0MphBbkeHDLxY7A07rjbxdwvxiPknRfBmUbKYjcsXg",1777884959904]