[{"data":1,"prerenderedAt":1970},["ShallowReactive",2],{"library-ba-fei-te-2021nian-ba-fei-te-mang-ge-jie-shou-cnbczhuan-fang":3,"library-sidebar-buffett":434,"library-sidebar-dao":1436,"library-sidebar-models":1738},{"id":4,"title":5,"body":6,"category":420,"date":421,"description":422,"extension":423,"meta":424,"navigation":425,"order":426,"path":427,"seo":428,"seoDescription":422,"seoTitle":429,"slug":430,"stem":431,"__hash__":432,"_collection":433},"buffett\u002Fbuffett\u002Finterview\u002Fba-fei-te-2021nian-ba-fei-te-mang-ge-jie-shou-cnbczhuan-fang.md","巴菲特：2021年巴菲特芒格接受CNBC专访",{"type":7,"value":8,"toc":416},"minimark",[9,13,17,23,26,29,32,35,41,44,50,53,56,59,62,65,68,71,74,77,80,83,89,92,95,98,101,104,107,110,113,116,119,122,128,131,140,143,149,152,158,161,164,167,170,173,176,179,182,187,190,193,196,199,205,211,214,217,220,223,226,229,232,235,238,241,244,249,252,255,262,265,271,274,277,280,283,286,289,292,295,298,304,307,310,313,319,322,325,328,331,334,337,340,343,346,349,359,362,365,368,371,374,377,380,383,386,389,392,399,402,405,408,413],[10,11,5],"h1",{"id":12},"巴菲特2021年巴菲特芒格接受cnbc专访",[14,15,16],"p",{},"2021年6月29日",[18,19,20],"blockquote",{},[14,21,22],{},"巴菲特和芒格、6月29日在CNBC的专题采访“巴菲特与芒格——智慧的财富”上分享的最新精彩观点和人生经验。",[14,24,25],{},"**1、问：**让我们从先前的对冲基金Archegos爆仓事件开始，这次事件导致让瑞士信贷损失了55亿美元……",[14,27,28],{},"**芒格：**想想看这件事是多么愚蠢，诚然这笔交易非常有诱惑性，给这个混蛋放贷可以轻松赚到快钱，但他（Archegos的比尔·黄）是一个内幕交易者，来自最疯狂的对冲基金行业。",[14,30,31],{},"这个行业喜欢用非正常的方式扩充信用，然后赚到异常高的利润，全世界都知道这里充斥着骗子和傻子，但是他们充耳不闻，因为他们觉得正因如此才可以轻松赚钱。",[14,33,34],{},"巴菲特：很久以前我们就学到一条规律：你不可能和一个不正直的人达成好的交易，如果你还对此心存侥幸，那我劝你最好放弃。因为当你达成这样的交易之后，你的对手方总是会赢，伯克希尔以及我个人都不会把时间浪费在这种事情上。",[14,36,37],{},[38,39,40],"strong",{},"不正直的交易对手懂得更多邪门歪道，虽然他们最终可能会输光一切，但就单个交易来说，他们会赢，让你蒙受损失，所以我也劝大家不要在这种事上浪费生命。",[14,42,43],{},"**2、问：**也不只是瑞士信贷栽了跟头，还有很多公司和Archegos做生意……",[14,45,46,47],{},"**芒格：**没错，没错，",[38,48,49],{},"这说明他们都是傻瓜，但瑞士信贷是其中最大的傻瓜。",[14,51,52],{},"**巴菲特：**1934年，在大萧条结束之后，吸取了1929年市场杠杆过高的教训，美联储被授予了限制市场杠杆率的权利",[14,54,55],{},"**芒格：**这是个极好的主意。",[14,57,58],{},"**巴菲特：**好得不得了。",[14,60,61],{},"**芒格：**不能更好了。",[14,63,64],{},"**巴菲特：**在1934到1973年间，我记得美联储共计动用这项权利23还是24次，无论如何，美联储是决定杠杆是否会造成系统性问题的决策机关。",[14,66,67],{},"1973到1974年的比率限制是50%，今天也一样，但在那之前的40年间，美联储把这个比例调整了23次，最高达到100%，最低也到过很低，总之这对宏观经济来说是一个很重要的指标。但是最终，华尔街找到了应对的方法。",[14,69,70],{},"**芒格：**他们通过游说来影响法规的修改。",[14,72,73],{},"**巴菲特：**对的。",[14,75,76],{},"**芒格：**这样他们就可以获得几乎无限的杠杆，同时进行私下交易，不记录在案，由此浑水摸鱼。",[14,78,79],{},"**3、问：**那银行可能会说：“我们内部消化了所有的杠杆问题，很多人的资产负债表甚至没有因此受损”，你怎么看？",[14,81,82],{},"**芒格：**有一个关于银行自我感觉良好的笑话，两个人用剃刀互割，一个人割了另一个人一刀，另一个人说，你没割到我。出刀的人说，等到你摇头的时候再说（意思是说头都给他割了，他还没察觉到）。",[14,84,85,88],{},[38,86,87],{},"4、问","：那你们对今天的监管有什么建议？",[14,90,91],{},"**芒格：**监管应该修改法律，当然，如果你开一家赌场，你自然会希望那些大玩家更激进地赌博，这也是证券市场上正在发生的，但这是一个巨大的错误，也引发过很多悲剧。",[14,93,94],{},"我们不该把人们带入他们承担不起的赌局，而且在交付环节也蕴含着风险，现在整个市场都处于混乱之中。通过这种不合理信贷扩张赚到钱的人会替它辩护，但没有人会反对信贷扩张。",[14,96,97],{},"上一次监管作出正确的选择，是在整个西方世界在遭受史上最严重的衰退之后——只有这种程度的衰退才会让政界有所反应。这段时间发生的不过是一种总回报互换（total return swap）。",[14,99,100],{},"**5、问：**那这一次的问题该如何解决呢？有人建议让交易更加公开透明、打击高杠杆行为，你们认为答案是什么？",[14,102,103],{},"**芒格：**答案是：永远不要让这种事情发生。",[14,105,106],{},"如果一开始你没有阻止错误发生，那它一定不会让你好受。",[14,108,109],{},"**巴菲特：**但是监管真的非常非常非常难做，以为如果你要搞大事情，就相当于要打击众多机构的利润中心。",[14,111,112],{},"**芒格：**大宗经纪业务本质上说就是专门贷款而给金融弄潮儿，这本身就非常危险，当这些人违反规则，就会伤及多家经纪商，他持续购买股票以维持股价，就是为了防止追加保证金，一旦变成这样，事情就会朝着难看的结局发展——事实也正是如此。",[14,114,115],{},"**6、问：**你刚刚提到了大萧条，那你认为在改变发生之前会发生一次系统性崩盘吗？",[14,117,118],{},"**芒格：**上一次监管采取正确措施是在西方世界发生最大危机之后，我自然是不想再看到这种情况发生。贤明的政策制定者应该在危机发生之前就采取措施。",[14,120,121],{},"**巴菲特：**但这很难的啦",[14,123,124,125],{},"芒格：但是有趣的是，",[38,126,127],{},"中国政府正采取的措施就是我所喜欢的事前措施，但我们鼓吹的伟大的自由市场经济、正让市场陷入疯狂的过剩，而中国政府正在阻止这种情况发生，他们对市场投机行为采取先发制人的措施。",[14,129,130],{},"**7、问：**查理，你说中国政府采取的措施正是我们应该效仿的，那对于马云你又如何看待相关事件呢？",[14,132,133,136,137],{},[38,134,135],{},"芒格：你说的没错，但马云正是我说的那类金融弄潮儿","，所以监管让他“见鬼去吧”，马云此前的所作所为就相当于告诉大家：“你们根本不知道你们在做什么，你们就是一群，让我来教你们做人做事，我比你们做得更好”，而",[38,138,139],{},"他说这些只是想不受限制地涉足银行业。",[14,141,142],{},"**问：**但他确实也给很多人提供了贷款……",[14,144,145,146],{},"**芒格：**中国政府只是做了正确的事，他们相当于告诉马云：小子，我们不会让你为所欲为。",[38,147,148],{},"我不是说我们要全盘效仿中国，但是我确实希望我们的金融监管能在一定程度上师法中国。",[14,150,151],{},"**问：**无论如何，蚂蚁金融确实给很多得不到信贷支持的人群提供了所需的贷款。",[14,153,154,157],{},[38,155,156],{},"芒格：我知道，但是银行业本质上对政府有担保责任","，你不会想让马云这样的弄潮儿去经营银行业，让他们去做其他的生意就好。",[14,159,160],{},"**8、问：**在美国，哪些人属于金融弄潮儿？",[14,162,163],{},"**芒格：**我可不想开始点名。",[14,165,166],{},"**巴菲特：**他们自己会跳出来的。……（略去一段，原因是大家都懂的）",[14,168,169],{},"**芒格：**没错，本质上大家都没有什么不同，中国也一样。但是对于银行业来说，以美国的影子银行为例，人们可能认为它们不过是新兴的银行。",[14,171,172],{},"但现在杠杆收购贷款业务已经流向了这些影子银行，目前这还没有引起什么大问题，但如果真的一直不出问题那才怪了。总之我不认为让这些人经营银行业是什么好事。",[14,174,175],{},"**9、问：**也许我们该聊聊Robinhood了，它也算是金融科技创新涉足了传统的券商领域",[14,177,178],{},"**芒格：**Robinhood的所作所为令人不齿。",[14,180,181],{},"**问：**为什么这么说？",[14,183,184],{},[38,185,186],{},"芒格：本质上它就是在开赌场，还伪装成正经生意。",[14,188,189],{},"**问：**但相反的意见认为它确实也让一般人有了接触证券市场的渠道。",[14,191,192],{},"**芒格：**它不想别人称之为赌场，但它本质上还是赌场。",[14,194,195],{},"**巴菲特：**Robinhood绝不会鼓励人们去买入交易成本低廉的ETF指数基金，然后让他们长期持有，比如说50年。我保证如果你去Robinhood开户，他们不会给你这样的投资建议。",[14,197,198],{},"**芒格：**对的。",[14,200,201,202],{},"**巴菲特：**相反，",[38,203,204],{},"你会得到很多交易建议",[14,206,207,210],{},[38,208,209],{},"芒格：而且它会告诉人们没有交易佣金，但其实交易佣金都隐含在交易价格之中了","，这本质上是一种腌臜，丑恶的行为，但有趣的是很多好人、正直的人也在支持它的所作所为。",[14,212,213],{},"**10、问：**谈谈蓝带印花公司这笔交易？",[14,215,216],{},"**芒格：**当时我们和另外一个朋友，瑞克·格林一起买入了蓝带印花公司的股票，很快我们就成为最大股东，现在这家公司已经是伯克希尔的一部分了，但是现在赠品兑换券行业已经消失了，这家公司的早期生意也早就消失了。",[14,218,219],{},"**巴菲特：**不是消失，而是失败了。",[14,221,222],{},"**芒格：**没错，是失败了。",[14,224,225],{},"**芒格：**但是在这个行业失败之前，我们也赚了不少，所以这笔交易对我们来说还算好。",[14,227,228],{},"**巴菲特：**我们对这家公司进行了转型，但实事求是地说，这家公司原本的三项业务最后都消失了，不再适应这个社会的发展。",[14,230,231],{},"事实上我们最早的一笔交易是入股了一家所谓“多元化零售”公司，实际上就是巴尔的摩的一家百货商店，当时桑迪·特斯曼（Sandy Gottesman）持股10%，查理占10%，然后以合伙人身份持有10%，我也以合伙人身份持80%，但我们是平等的合伙人。",[14,233,234],{},"我们投入了600万美元，虽然称之为“多元化零售”，但事实上我们只有一家百货商店，这笔投资一开始也让我们收获了不少乐趣，但是我们慢慢也看到这家百货商店……",[14,236,237],{},"**芒格：**行业开始不景气，我们的生意也无法持续。并没有过很久，我们就意识到，我们犯了一个巨大的错误。",[14,239,240],{},"**巴菲特：**是的。",[14,242,243],{},"**11、问：**为什么这么说？",[14,245,246],{},[38,247,248],{},"芒格：你也听过一句话，叫做“让我离开这个陷阱，我不要这个奶酪了”。我们领悟了一个事实就是，我们买进的这项生意并不好做，卖方做了一个正确的决定，而我们做了一个糟糕的决策。",[14,250,251],{},"**巴菲特：**是的，当时经营它的人是桑迪妻子的亲属，非常优秀的人。",[14,253,254],{},"**芒格：**非常值得尊敬的人。",[14,256,257,258,261],{},"**巴菲特：**是的，非常聪明。",[38,259,260],{},"如果一家企业由这么好的管理人运作依然亏损，那么这之中必然存在问题。所以不如把优秀的人才放到另一项事务上，并且把资本也放到其他项目上","。",[14,263,264],{},"**芒格：**这家公司并没有真正地亏钱，但是我们可以预见到，它之后即将亏损。",[14,266,267,268],{},"**巴菲特：**是的，所以我们把这家百货商场出售了。这家连锁百货商场在1983年关门，赫茨勒的丝绸百货公司在1985年或是1986年也关掉了。很容易理解，那里的人们想要建更多的分店。但是，",[38,269,270],{},"你不会想在注定走向失败的企业里面再投入更多的资本。",[14,272,273],{},"我们在里面投入了600万美元，这是一个愚蠢的决定。那600万美元现在值多少钱？查理？",[14,275,276],{},"**芒格：**好多亿美元。",[14,278,279],{},"**巴菲特：**上百亿美元。",[14,281,282],{},"**芒格：**对。",[14,284,285],{},"**巴菲特：**如果这家连锁百货商场成功了，我们就拥有了一个不错的小生意，会给我们带来不错的利润。但正因为它失败了，我们创造了超过250亿美元的收益，虽然在当时它并不像能创造这么多利润的项目。",[14,287,288],{},"**12、问：**所以，当你认识到这件事情是个错误的时候，你做了哪些事情？如何去解决它？",[14,290,291],{},"**巴菲特：**我们问桑迪，我们之中谁是最好的销售，去把它卖掉。然后，我们就把这个生意卖掉了，卖来的钱放到了伯克希尔里面。",[14,293,294],{},"**芒格：**我们拿回了95%的钱。",[14,296,297],{},"**巴菲特：**是的，我们借了600万美金，得以买入伯克希尔的股票和蓝带印花公司并将其合为一体。就像一盘意面，表面看起来很复杂，并不理想，所以我们将其合为一体。",[14,299,300,301],{},"就像我的许多合伙人一样，我和查理都还持有零售方面的股票。但是就过去的日子来说，发生在我们身上的最好的事情就是，",[38,302,303],{},"这个失败的事情显然会失败。",[14,305,306],{},"**13、问：**为什么？",[14,308,309],{},"**芒格：**迅速撤出。",[14,311,312],{},"**巴菲特：**对，然后把资本放到其他地方。",[14,314,315,316],{},"**芒格：**我们学会的一件事情就是，",[38,317,318],{},"如果显而易见这是一个错误，那就去快速地纠正它。在你等待的期间它并不会变好。",[14,320,321],{},"**14、问：**去年，在疫情之下你们的生活都发生了巨大的变化。查理，我听说你现在非常习惯用Zoom？",[14,323,324],{},"**芒格：**是的，我简直爱上了Zoom。",[14,326,327],{},"**问：**那么你用Zoom与人聊天的频率如何？",[14,329,330],{},"**芒格：**一天至少三次！我在澳大利亚谈了一项生意，Zoom成了必需品，它太方便了。",[14,332,333],{},"**巴菲特：**对，如果你也97岁的话。虽然显然我和查理的交流很多，但我们从来没有用Zoom交流过。",[14,335,336],{},"**芒格：**那只是因为——",[14,338,339],{},"**巴菲特：**我不用Zoom。",[14,341,342],{},"**问：**为什么你不喜欢Zoom呢？",[14,344,345],{},"**巴菲特：**用Zoom的话，一整个屏幕上显示的都是人像，我不认为这对于我来说是个加分项。你知道，我喜欢把脚翘在桌子上；所以，我对电话非常满意。",[14,347,348],{},"**15、问：**所以疫情后，生活和工作发生了哪些变化？回到正轨上去还是另外发生了什么？",[14,350,351,352,355,356],{},"**芒格：**我想，",[38,353,354],{},"频繁出差的事情再也不会发生了","。一个接一个的公司都决定一年只开一次或者两次现场会议，其他都在Zoom线上完成。当然，很多人都发现他们并不需要在办公室。我想，很多新的改变会发生，",[38,357,358],{},"我们不会再回到从前。",[14,360,361],{},"**巴菲特：**我们的一些生意也发生了变化，而另一些则变化甚微。",[14,363,364],{},"在整个疫情过程中，预测经济和病毒将如何变化在很多方面震惊了我们。如果我们看各国疫情的曲线，我们就会发现，一个经济非常强盛的世界会如何被其他事情所扰乱，而这种事件根本无法被预测。",[14,366,367],{},"疫情带来的经济影响是极其不平均的；我们不知道究竟有多少个小型企业在这场疫情中受创严重，但是，绝大多数的大型企业表现较好，除非他们做的是酒店之类的行业。",[14,369,370],{},"**芒格：**但是，一些国家做得比我们好。比如中国只封城了6个星期。而事实证明，这是一个非常正确的决策。他们不允许任何的接触，人们在公寓的箱子里面拿取生活用品而这就是你在这6周里面与外界的所有接触。而当这一切结束之后，他们又正常恢复了工作。事实证明，他们的作为非常正确。",[14,372,373],{},"**巴菲特：**但是其他国家，他们不断地封城再封城，导致了很多问题。像是瑞典，瑞典说，“我们不会这么做”，看起来在一段时间之内疫情表现不那么糟糕，但是这带来的结果非常非常地不可预计。",[14,375,376],{},"**芒格：**是的，非常困难。",[14,378,379],{},"**巴菲特：**是的，这种不可估计的结果还没有结束，从经济层面同样难以预计。最终结果要比人们的预测要好一些。但是对于某些人来说，他们自己没有错，但却被破坏了希望。政府应该给予这些人帮助。",[14,381,382],{},"**芒格：**但是，某些企业——是繁荣的。",[14,384,385],{},"从疫情中恢复并不仅仅使得他们回归正轨，而是创造了他们从未预期过的、难以置信的成功。汽车经销商们在疫情期间赚到了他们从未预想过的钱。",[14,387,388],{},"**巴菲特：**我们合作的所有经销商们，他们都意识到，在3月和4月，他们将会面临严重的问题。有一些人希望可以从政府处得到一些帮助，但是我们作为富有的母公司可以为他们提供一些帮助。",[14,390,391],{},"**16、问：**什么事情使你最为震惊？去年你学到了哪些？",[14,393,394,395,398],{},"**巴菲特：**我发现，",[38,396,397],{},"人们并不像他们自以为地了解那么多","。但最重要的是，人们知道了，疫情注定会发生，这并不是最糟糕的。我们所有人、社会都准备着，有些事情看似遥远，但可能马上就发生。",[14,400,401],{},"世界可能出现另外一场疫情，或者，我们知道会有核武器、化学武器、生化武器，还有网络威胁，每一种都存在极可怕的潜在威胁。而这些似乎都不是社会有能力去处理的问题。",[14,403,404],{},"网络威胁才刚刚出现，但看看它已经造成的破坏。查理和我在很多方面的都非常幸运，但是最幸运的其实是我们处在的时间与地点。",[14,406,407],{},"在拥有75亿人口的200个国家之间，存在紧张的关系，不同的制度、政府以及各种各样的事情。我们究竟如何解决这些问题，使人类，从现在开始的50年、100年、200年，能够享受到更好的生活，而不是去让世界变得更糟。",[14,409,410],{},[38,411,412],{},"第六部分：如何管理公司",[14,414,415],{},"从市值来说，这是世界上最大的10家公司之一，在全球拥有36万名员工。但是伯克希尔哈撒韦分散式经营的总部设在这里，在奥马哈的一栋建筑里租用了两层楼，只有24个员工。这里的不同之处就在于两个人，沃伦·巴菲特和查理·芒格都不喜欢官僚主义。",{"title":417,"searchDepth":418,"depth":418,"links":419},"",2,[],"访谈与文章",null,"2021年6月，巴菲特与芒格在CNBC","md",{},true,133,"\u002Fbuffett\u002Finterview\u002Fba-fei-te-2021nian-ba-fei-te-mang-ge-jie-shou-cnbczhuan-fang",{"title":5,"description":422},"巴菲特：2021年巴菲特芒格接受CNBC专访｜巴菲特","ba-fei-te-2021nian-ba-fei-te-mang-ge-jie-shou-cnbczhuan-fang","buffett\u002Finterview\u002Fba-fei-te-2021nian-ba-fei-te-mang-ge-jie-shou-cnbczhuan-fang","hnpClqF0V4BGKJGPHKmV6k1z9tn1pzzuGl7Ekf8q7Wo","buffett",[435,440,443,447,450,453,456,460,463,466,470,473,476,480,483,486,490,493,496,500,503,506,510,513,516,520,523,526,530,533,536,540,543,546,550,553,556,560,563,566,570,573,576,580,583,586,590,593,596,600,603,606,610,613,616,620,623,626,630,633,636,640,643,646,650,653,656,660,663,666,670,673,676,680,683,686,690,693,696,700,703,706,710,713,716,720,723,726,730,733,736,740,743,746,750,753,756,760,763,766,770,773,777,780,784,787,791,794,798,801,805,808,812,815,819,822,826,829,833,836,840,843,847,850,854,857,861,864,868,871,875,878,882,885,889,892,896,899,903,906,910,913,917,920,924,927,931,934,938,941,945,948,952,955,959,962,966,969,973,976,980,983,987,990,994,997,1001,1004,1008,1011,1015,1018,1022,1025,1029,1032,1036,1039,1043,1046,1050,1053,1057,1060,1064,1067,1071,1074,1078,1081,1085,1088,1092,1095,1099,1102,1106,1109,1113,1116,1120,1123,1127,1130,1134,1137,1141,1144,1148,1151,1155,1158,1162,1165,1169,1172,1176,1179,1183,1186,1190,1193,1197,1200,1204,1207,1211,1214,1218,1221,1225,1228,1232,1235,1239,1243,1247,1251,1255,1259,1263,1267,1271,1275,1279,1283,1287,1291,1295,1299,1303,1307,1311,1315,1319,1323,1327,1331,1335,1339,1343,1347,1351,1355,1359,1363,1364,1368,1372,1376,1380,1384,1388,1392,1396,1400,1404,1408,1412,1416,1420,1424,1428,1432],{"title":436,"slug":437,"category":438,"order":439},"1956 有限合伙协议","1956-you-xian-he-huo-xie-yi","致股东信",1,{"title":441,"slug":442,"category":420,"order":439},"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":444,"slug":445,"category":446,"order":439},"1994年伯克希尔股东大会","1994nian-bo-ke-xi-er-gu-dong-da-hui","股东大会",{"title":448,"slug":449,"category":438,"order":418},"1957 巴菲特致合伙人信","1957-ba-fei-te-zhi-he-huo-ren-xin",{"title":451,"slug":452,"category":420,"order":418},"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":454,"slug":455,"category":446,"order":418},"1995年伯克希尔股东大会","1995nian-bo-ke-xi-er-gu-dong-da-hui",{"title":457,"slug":458,"category":438,"order":459},"1958 巴菲特致合伙人信","1958-ba-fei-te-zhi-he-huo-ren-xin",3,{"title":461,"slug":462,"category":420,"order":459},"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":464,"slug":465,"category":446,"order":459},"1996年伯克希尔股东大会","1996nian-bo-ke-xi-er-gu-dong-da-hui",{"title":467,"slug":468,"category":438,"order":469},"1959 巴菲特致合伙人信","1959-ba-fei-te-zhi-he-huo-ren-xin",4,{"title":471,"slug":472,"category":420,"order":469},"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":474,"slug":475,"category":446,"order":469},"1997年伯克希尔股东大会","1997nian-bo-ke-xi-er-gu-dong-da-hui",{"title":477,"slug":478,"category":438,"order":479},"1960 巴菲特致合伙人信","1960-ba-fei-te-zhi-he-huo-ren-xin",5,{"title":481,"slug":482,"category":420,"order":479},"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":484,"slug":485,"category":446,"order":479},"1998年伯克希尔股东大会","1998nian-bo-ke-xi-er-gu-dong-da-hui",{"title":487,"slug":488,"category":438,"order":489},"1961 巴菲特致合伙人信","1961-ba-fei-te-zhi-he-huo-ren-xin",6,{"title":491,"slug":492,"category":420,"order":489},"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":494,"slug":495,"category":446,"order":489},"1999年伯克希尔股东大会","1999nian-bo-ke-xi-er-gu-dong-da-hui",{"title":497,"slug":498,"category":438,"order":499},"1961年中 巴菲特致合伙人信","1961nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",7,{"title":501,"slug":502,"category":420,"order":499},"巴菲特：1976年巴菲特谈GEICO","ba-fei-te-1976nian-ba-fei-te-tan-geico",{"title":504,"slug":505,"category":446,"order":499},"2000年伯克希尔股东大会","2000nian-bo-ke-xi-er-gu-dong-da-hui",{"title":507,"slug":508,"category":438,"order":509},"1962 巴菲特致合伙人信","1962-ba-fei-te-zhi-he-huo-ren-xin",8,{"title":511,"slug":512,"category":420,"order":509},"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":514,"slug":515,"category":446,"order":509},"2001年伯克希尔股东大会","2001nian-bo-ke-xi-er-gu-dong-da-hui",{"title":517,"slug":518,"category":438,"order":519},"1962年11月 巴菲特致合伙人信","1962nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",9,{"title":521,"slug":522,"category":420,"order":519},"巴菲特：1977年谈通货膨胀","ba-fei-te-1977nian-tan-tong-huo-peng-zhang",{"title":524,"slug":525,"category":446,"order":519},"2002年伯克希尔股东大会","2002nian-bo-ke-xi-er-gu-dong-da-hui",{"title":527,"slug":528,"category":438,"order":529},"1962年12月 巴菲特致合伙人信","1962nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",10,{"title":531,"slug":532,"category":420,"order":529},"巴菲特：1979年谈股市","ba-fei-te-1979nian-tan-gu-shi",{"title":534,"slug":535,"category":446,"order":529},"2003年伯克希尔股东大会","2003nian-bo-ke-xi-er-gu-dong-da-hui",{"title":537,"slug":538,"category":438,"order":539},"1962年中 巴菲特致合伙人信","1962nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",11,{"title":541,"slug":542,"category":420,"order":539},"巴菲特：1982年谈指数期货","ba-fei-te-1982nian-tan-zhi-shu-qi-huo",{"title":544,"slug":545,"category":446,"order":539},"2004年伯克希尔股东大会","2004nian-bo-ke-xi-er-gu-dong-da-hui",{"title":547,"slug":548,"category":438,"order":549},"1963 巴菲特致合伙人信","1963-ba-fei-te-zhi-he-huo-ren-xin",12,{"title":551,"slug":552,"category":420,"order":549},"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":554,"slug":555,"category":446,"order":549},"2005年伯克希尔股东大会","2005nian-bo-ke-xi-er-gu-dong-da-hui",{"title":557,"slug":558,"category":438,"order":559},"1963年11月 巴菲特致合伙人信","1963nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",13,{"title":561,"slug":562,"category":420,"order":559},"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":564,"slug":565,"category":446,"order":559},"2006年伯克希尔股东大会","2006nian-bo-ke-xi-er-gu-dong-da-hui",{"title":567,"slug":568,"category":438,"order":569},"1963年12月 巴菲特致合伙人信","1963nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",14,{"title":571,"slug":572,"category":420,"order":569},"巴菲特：1984年哥大商学院演讲","ba-fei-te-1984nian-ge-da-shang-xue-yuan-yan-jiang",{"title":574,"slug":575,"category":446,"order":569},"2007年伯克希尔股东大会","2007nian-bo-ke-xi-er-gu-dong-da-hui",{"title":577,"slug":578,"category":438,"order":579},"1963年中 巴菲特致合伙人信","1963nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",15,{"title":581,"slug":582,"category":420,"order":579},"巴菲特：1985年谈投资","ba-fei-te-1985nian-tan-tou-zi",{"title":584,"slug":585,"category":446,"order":579},"2008年伯克希尔股东大会","2008nian-bo-ke-xi-er-gu-dong-da-hui",{"title":587,"slug":588,"category":438,"order":589},"1964 巴菲特致合伙人信","1964-ba-fei-te-zhi-he-huo-ren-xin",16,{"title":591,"slug":592,"category":420,"order":589},"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":594,"slug":595,"category":446,"order":589},"2009年伯克希尔股东大会","2009nian-bo-ke-xi-er-gu-dong-da-hui",{"title":597,"slug":598,"category":438,"order":599},"1964年中 巴菲特致合伙人信","1964nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",17,{"title":601,"slug":602,"category":420,"order":599},"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":604,"slug":605,"category":446,"order":599},"2010年伯克希尔股东大会","2010nian-bo-ke-xi-er-gu-dong-da-hui",{"title":607,"slug":608,"category":438,"order":609},"1965 巴菲特致合伙人信","1965-ba-fei-te-zhi-he-huo-ren-xin",18,{"title":611,"slug":612,"category":420,"order":609},"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":614,"slug":615,"category":446,"order":609},"2011年伯克希尔股东大会","2011nian-bo-ke-xi-er-gu-dong-da-hui",{"title":617,"slug":618,"category":438,"order":619},"1965 巴菲特致股东信","1965-ba-fei-te-zhi-gu-dong-xin",19,{"title":621,"slug":622,"category":420,"order":619},"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":624,"slug":625,"category":446,"order":619},"2012年伯克希尔股东大会","2012nian-bo-ke-xi-er-gu-dong-da-hui",{"title":627,"slug":628,"category":438,"order":629},"1965年11月 巴菲特致合伙人信","1965nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",20,{"title":631,"slug":632,"category":420,"order":629},"巴菲特：1988年谈投资","ba-fei-te-1988nian-tan-tou-zi",{"title":634,"slug":635,"category":446,"order":629},"2013年伯克希尔股东大会","2013nian-bo-ke-xi-er-gu-dong-da-hui",{"title":637,"slug":638,"category":438,"order":639},"1965年中 巴菲特致合伙人信","1965nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",21,{"title":641,"slug":642,"category":420,"order":639},"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":644,"slug":645,"category":446,"order":639},"2014年伯克希尔股东大会","2014nian-bo-ke-xi-er-gu-dong-da-hui",{"title":647,"slug":648,"category":438,"order":649},"1966 巴菲特致合伙人信","1966-ba-fei-te-zhi-he-huo-ren-xin",22,{"title":651,"slug":652,"category":420,"order":649},"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":654,"slug":655,"category":446,"order":649},"2015年伯克希尔股东大会","2015nian-bo-ke-xi-er-gu-dong-da-hui",{"title":657,"slug":658,"category":438,"order":659},"1966 巴菲特致股东信","1966-ba-fei-te-zhi-gu-dong-xin",23,{"title":661,"slug":662,"category":420,"order":659},"巴菲特：1991年圣母大学演讲","ba-fei-te-1991nian-sheng-mu-da-xue-yan-jiang",{"title":664,"slug":665,"category":446,"order":659},"2016年伯克希尔股东大会","2016nian-bo-ke-xi-er-gu-dong-da-hui",{"title":667,"slug":668,"category":438,"order":669},"1966年11月 巴菲特致合伙人信","1966nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",24,{"title":671,"slug":672,"category":420,"order":669},"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":674,"slug":675,"category":446,"order":669},"2017年伯克希尔股东大会","2017nian-bo-ke-xi-er-gu-dong-da-hui",{"title":677,"slug":678,"category":438,"order":679},"1966年中 巴菲特致合伙人信","1966nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",25,{"title":681,"slug":682,"category":420,"order":679},"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":684,"slug":685,"category":446,"order":679},"2018年伯克希尔股东大会","2018nian-bo-ke-xi-er-gu-dong-da-hui",{"title":687,"slug":688,"category":438,"order":689},"1967 巴菲特致合伙人信","1967-ba-fei-te-zhi-he-huo-ren-xin",26,{"title":691,"slug":692,"category":420,"order":689},"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":694,"slug":695,"category":446,"order":689},"2019年伯克希尔股东大会","2019nian-bo-ke-xi-er-gu-dong-da-hui",{"title":697,"slug":698,"category":438,"order":699},"1967 巴菲特致股东信","1967-ba-fei-te-zhi-gu-dong-xin",27,{"title":701,"slug":702,"category":420,"order":699},"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":704,"slug":705,"category":446,"order":699},"2020年伯克希尔股东大会","2020nian-bo-ke-xi-er-gu-dong-da-hui",{"title":707,"slug":708,"category":438,"order":709},"1967年10月 巴菲特致合伙人信","1967nian-10yue-ba-fei-te-zhi-he-huo-ren-xin",28,{"title":711,"slug":712,"category":420,"order":709},"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":714,"slug":715,"category":446,"order":709},"2021年伯克希尔股东大会","2021nian-bo-ke-xi-er-gu-dong-da-hui",{"title":717,"slug":718,"category":438,"order":719},"1967年11月 巴菲特致合伙人信","1967nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",29,{"title":721,"slug":722,"category":420,"order":719},"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":724,"slug":725,"category":446,"order":719},"2022年伯克希尔股东大会","2022nian-bo-ke-xi-er-gu-dong-da-hui",{"title":727,"slug":728,"category":438,"order":729},"1967年中 巴菲特致合伙人信","1967nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",30,{"title":731,"slug":732,"category":420,"order":729},"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":734,"slug":735,"category":446,"order":729},"2023年伯克希尔股东大会","2023nian-bo-ke-xi-er-gu-dong-da-hui",{"title":737,"slug":738,"category":438,"order":739},"1968 巴菲特致合伙人信","1968-ba-fei-te-zhi-he-huo-ren-xin",31,{"title":741,"slug":742,"category":420,"order":739},"巴菲特：1998年华盛顿大学谈话","ba-fei-te-1998nian-hua-sheng-dun-da-xue-tan-hua",{"title":744,"slug":745,"category":446,"order":739},"2024年伯克希尔股东大会","2024nian-bo-ke-xi-er-gu-dong-da-hui",{"title":747,"slug":748,"category":438,"order":749},"1968 巴菲特致股东信","1968-ba-fei-te-zhi-gu-dong-xin",32,{"title":751,"slug":752,"category":420,"order":749},"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":754,"slug":755,"category":446,"order":749},"2025年伯克希尔股东大会","2025nian-bo-ke-xi-er-gu-dong-da-hui",{"title":757,"slug":758,"category":438,"order":759},"1968年11月 巴菲特致合伙人信","1968nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",33,{"title":761,"slug":762,"category":420,"order":759},"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":764,"slug":765,"category":446,"order":759},"2026年伯克希尔股东大会","2026nian-bo-ke-xi-er-gu-dong-da-hui",{"title":767,"slug":768,"category":438,"order":769},"1968年中 巴菲特致合伙人信","1968nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",34,{"title":771,"slug":772,"category":420,"order":769},"巴菲特：1999年巴菲特谈股市","ba-fei-te-1999nian-ba-fei-te-tan-gu-shi",{"title":774,"slug":775,"category":438,"order":776},"1969 巴菲特致股东信","1969-ba-fei-te-zhi-gu-dong-xin",35,{"title":778,"slug":779,"category":420,"order":776},"巴菲特：2001年佐治亚大学演讲","ba-fei-te-2001nian-zuo-zhi-ya-da-xue-yan-jiang",{"title":781,"slug":782,"category":438,"order":783},"1969年10月 巴菲特致合伙人信","1969nian-10yue-ba-fei-te-zhi-he-huo-ren-xin",36,{"title":785,"slug":786,"category":420,"order":783},"巴菲特：2001年保险业的FDIC","ba-fei-te-2001nian-bao-xian-ye-de-fdic",{"title":788,"slug":789,"category":438,"order":790},"1969年12月 巴菲特致合伙人信","1969nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",37,{"title":792,"slug":793,"category":420,"order":790},"巴菲特：2001年对话内大商学院","ba-fei-te-2001nian-dui-hua-nei-da-shang-xue-yuan",{"title":795,"slug":796,"category":438,"order":797},"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":799,"slug":800,"category":420,"order":797},"巴菲特：2001年巴菲特谈股市","ba-fei-te-2001nian-ba-fei-te-tan-gu-shi",{"title":802,"slug":803,"category":438,"order":804},"1969年5月 巴菲特致合伙人信","1969nian-5yue-ba-fei-te-zhi-he-huo-ren-xin",39,{"title":806,"slug":807,"category":420,"order":804},"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":809,"slug":810,"category":438,"order":811},"1970 巴菲特致股东信","1970-ba-fei-te-zhi-gu-dong-xin",40,{"title":813,"slug":814,"category":420,"order":811},"巴菲特：2002年哥大商学院演讲","ba-fei-te-2002nian-ge-da-shang-xue-yuan-yan-jiang",{"title":816,"slug":817,"category":438,"order":818},"1970年2月 巴菲特致合伙人信","1970nian-2yue-ba-fei-te-zhi-he-huo-ren-xin",41,{"title":820,"slug":821,"category":420,"order":818},"巴菲特：2002年股票期权与常识","ba-fei-te-2002nian-gu-piao-qi-quan-yu-chang-shi",{"title":823,"slug":824,"category":438,"order":825},"1971 巴菲特致股东信","1971-ba-fei-te-zhi-gu-dong-xin",42,{"title":827,"slug":828,"category":420,"order":825},"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":830,"slug":831,"category":438,"order":832},"1972 巴菲特致股东信","1972-ba-fei-te-zhi-gu-dong-xin",43,{"title":834,"slug":835,"category":420,"order":832},"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":837,"slug":838,"category":438,"order":839},"1973 巴菲特致股东信","1973-ba-fei-te-zhi-gu-dong-xin",44,{"title":841,"slug":842,"category":420,"order":839},"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":844,"slug":845,"category":438,"order":846},"1974 巴菲特致股东信","1974-ba-fei-te-zhi-gu-dong-xin",45,{"title":848,"slug":849,"category":420,"order":846},"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":851,"slug":852,"category":438,"order":853},"1975 巴菲特致股东信","1975-ba-fei-te-zhi-gu-dong-xin",46,{"title":855,"slug":856,"category":420,"order":853},"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":858,"slug":859,"category":438,"order":860},"1976 巴菲特致股东信","1976-ba-fei-te-zhi-gu-dong-xin",47,{"title":862,"slug":863,"category":420,"order":860},"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":865,"slug":866,"category":438,"order":867},"1977 巴菲特致股东信","1977-ba-fei-te-zhi-gu-dong-xin",48,{"title":869,"slug":870,"category":420,"order":867},"巴菲特：2003年沃伦在担心什么","ba-fei-te-2003nian-wo-lun-zai-dan-xin-shi-me",{"title":872,"slug":873,"category":438,"order":874},"1978 巴菲特致股东信","1978-ba-fei-te-zhi-gu-dong-xin",49,{"title":876,"slug":877,"category":420,"order":874},"巴菲特：2003年股息巫术","ba-fei-te-2003nian-gu-xi-wu-shu",{"title":879,"slug":880,"category":438,"order":881},"1979 巴菲特致股东信","1979-ba-fei-te-zhi-gu-dong-xin",50,{"title":883,"slug":884,"category":420,"order":881},"2004年：《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":886,"slug":887,"category":438,"order":888},"1980 巴菲特致股东信","1980-ba-fei-te-zhi-gu-dong-xin",51,{"title":890,"slug":891,"category":420,"order":888},"巴菲特：2004年专访苏珊·巴菲特","ba-fei-te-2004nian-zhuan-fang-su-shan-ba-fei-te",{"title":893,"slug":894,"category":438,"order":895},"1981 巴菲特致股东信","1981-ba-fei-te-zhi-gu-dong-xin",52,{"title":897,"slug":898,"category":420,"order":895},"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":900,"slug":901,"category":438,"order":902},"1982 巴菲特致股东信","1982-ba-fei-te-zhi-gu-dong-xin",53,{"title":904,"slug":905,"category":420,"order":902},"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":907,"slug":908,"category":438,"order":909},"1983 巴菲特致股东信","1983-ba-fei-te-zhi-gu-dong-xin",54,{"title":911,"slug":912,"category":420,"order":909},"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":914,"slug":915,"category":438,"order":916},"1984 巴菲特致股东信","1984-ba-fei-te-zhi-gu-dong-xin",55,{"title":918,"slug":919,"category":420,"order":916},"与沃伦·巴菲特的问答纪要 2005年","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":921,"slug":922,"category":438,"order":923},"1985 巴菲特致股东信","1985-ba-fei-te-zhi-gu-dong-xin",56,{"title":925,"slug":926,"category":420,"order":923},"2005年：《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":928,"slug":929,"category":438,"order":930},"1986 巴菲特致股东信","1986-ba-fei-te-zhi-gu-dong-xin",57,{"title":932,"slug":933,"category":420,"order":930},"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":935,"slug":936,"category":438,"order":937},"1987 巴菲特致股东信","1987-ba-fei-te-zhi-gu-dong-xin",58,{"title":939,"slug":940,"category":420,"order":937},"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":942,"slug":943,"category":438,"order":944},"1988 巴菲特致股东信","1988-ba-fei-te-zhi-gu-dong-xin",59,{"title":946,"slug":947,"category":420,"order":944},"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":949,"slug":950,"category":438,"order":951},"1989 巴菲特致股东信","1989-ba-fei-te-zhi-gu-dong-xin",60,{"title":953,"slug":954,"category":420,"order":951},"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":956,"slug":957,"category":438,"order":958},"1990 巴菲特致股东信","1990-ba-fei-te-zhi-gu-dong-xin",61,{"title":960,"slug":961,"category":420,"order":958},"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":963,"slug":964,"category":438,"order":965},"1991 巴菲特致股东信","1991-ba-fei-te-zhi-gu-dong-xin",62,{"title":967,"slug":968,"category":420,"order":965},"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":970,"slug":971,"category":438,"order":972},"1992 巴菲特致股东信","1992-ba-fei-te-zhi-gu-dong-xin",63,{"title":974,"slug":975,"category":420,"order":972},"巴菲特：2006年慈善捐赠承诺","ba-fei-te-2006nian-ci-shan-juan-zeng-cheng-nuo",{"title":977,"slug":978,"category":438,"order":979},"1993 巴菲特致股东信","1993-ba-fei-te-zhi-gu-dong-xin",64,{"title":981,"slug":982,"category":420,"order":979},"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":984,"slug":985,"category":438,"order":986},"1994 巴菲特致股东信","1994-ba-fei-te-zhi-gu-dong-xin",65,{"title":988,"slug":989,"category":420,"order":986},"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":991,"slug":992,"category":438,"order":993},"1995 巴菲特致股东信","1995-ba-fei-te-zhi-gu-dong-xin",66,{"title":995,"slug":996,"category":420,"order":993},"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":998,"slug":999,"category":438,"order":1000},"1996 巴菲特致股东信","1996-ba-fei-te-zhi-gu-dong-xin",67,{"title":1002,"slug":1003,"category":420,"order":1000},"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":1005,"slug":1006,"category":438,"order":1007},"1997 巴菲特致股东信","1997-ba-fei-te-zhi-gu-dong-xin",68,{"title":1009,"slug":1010,"category":420,"order":1007},"巴菲特：2007年巴菲特接见Dardashti","ba-fei-te-2007nian-ba-fei-te-jie-jian-dardashti",{"title":1012,"slug":1013,"category":438,"order":1014},"1998 巴菲特致股东信","1998-ba-fei-te-zhi-gu-dong-xin",69,{"title":1016,"slug":1017,"category":420,"order":1014},"巴菲特：2007年接受央视专访","ba-fei-te-2007nian-jie-shou-yang-shi-zhuan-fang",{"title":1019,"slug":1020,"category":438,"order":1021},"1999 巴菲特致股东信","1999-ba-fei-te-zhi-gu-dong-xin",70,{"title":1023,"slug":1024,"category":420,"order":1021},"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":1026,"slug":1027,"category":438,"order":1028},"2000 巴菲特致股东信","2000-ba-fei-te-zhi-gu-dong-xin",71,{"title":1030,"slug":1031,"category":420,"order":1028},"巴菲特：2007年查理罗斯专访","ba-fei-te-2007nian-cha-li-luo-si-zhuan-fang",{"title":1033,"slug":1034,"category":438,"order":1035},"2001 巴菲特致股东信","2001-ba-fei-te-zhi-gu-dong-xin",72,{"title":1037,"slug":1038,"category":420,"order":1035},"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":1040,"slug":1041,"category":438,"order":1042},"2002 巴菲特致股东信","2002-ba-fei-te-zhi-gu-dong-xin",73,{"title":1044,"slug":1045,"category":420,"order":1042},"巴菲特：2008年买入美国正当时","ba-fei-te-2008nian-mai-ru-mei-guo-zheng-dang-shi",{"title":1047,"slug":1048,"category":438,"order":1049},"2003 巴菲特致股东信","2003-ba-fei-te-zhi-gu-dong-xin",74,{"title":1051,"slug":1052,"category":420,"order":1049},"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":1054,"slug":1055,"category":438,"order":1056},"2004 巴菲特致股东信","2004-ba-fei-te-zhi-gu-dong-xin",75,{"title":1058,"slug":1059,"category":420,"order":1056},"巴菲特：2008年对话商学院学生","ba-fei-te-2008nian-dui-hua-shang-xue-yuan-xue-sheng",{"title":1061,"slug":1062,"category":438,"order":1063},"2005 巴菲特致股东信","2005-ba-fei-te-zhi-gu-dong-xin",76,{"title":1065,"slug":1066,"category":420,"order":1063},"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":1068,"slug":1069,"category":438,"order":1070},"2006 巴菲特致股东信","2006-ba-fei-te-zhi-gu-dong-xin",77,{"title":1072,"slug":1073,"category":420,"order":1070},"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":1075,"slug":1076,"category":438,"order":1077},"2007 巴菲特致股东信","2007-ba-fei-te-zhi-gu-dong-xin",78,{"title":1079,"slug":1080,"category":420,"order":1077},"巴菲特：2008年给保尔森的信","ba-fei-te-2008nian-gei-bao-er-sen-de-xin",{"title":1082,"slug":1083,"category":438,"order":1084},"2008 巴菲特致股东信","2008-ba-fei-te-zhi-gu-dong-xin",79,{"title":1086,"slug":1087,"category":420,"order":1084},"巴菲特：2008年解析经济危机","ba-fei-te-2008nian-jie-xi-jing-ji-wei-ji",{"title":1089,"slug":1090,"category":438,"order":1091},"2009 巴菲特致股东信","2009-ba-fei-te-zhi-gu-dong-xin",80,{"title":1093,"slug":1094,"category":420,"order":1091},"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":1096,"slug":1097,"category":438,"order":1098},"2010 巴菲特致股东信","2010-ba-fei-te-zhi-gu-dong-xin",81,{"title":1100,"slug":1101,"category":420,"order":1098},"巴菲特：2009年CNBC 专访","ba-fei-te-2009nian-cnbc-zhuan-fang",{"title":1103,"slug":1104,"category":438,"order":1105},"2011 巴菲特致股东信","2011-ba-fei-te-zhi-gu-dong-xin",82,{"title":1107,"slug":1108,"category":420,"order":1105},"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":1110,"slug":1111,"category":438,"order":1112},"2012 巴菲特致股东信","2012-ba-fei-te-zhi-gu-dong-xin",83,{"title":1114,"slug":1115,"category":420,"order":1112},"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":1117,"slug":1118,"category":438,"order":1119},"2013 巴菲特致股东信","2013-ba-fei-te-zhi-gu-dong-xin",84,{"title":1121,"slug":1122,"category":420,"order":1119},"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":1124,"slug":1125,"category":438,"order":1126},"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":1128,"slug":1129,"category":420,"order":1126},"巴菲特：2009年收购BNSF 铁路","ba-fei-te-2009nian-shou-gou-bnsf-tie-lu",{"title":1131,"slug":1132,"category":438,"order":1133},"2014 副董事长的思考","2014-fu-dong-shi-chang-de-si-kao",86,{"title":1135,"slug":1136,"category":420,"order":1133},"巴菲特：2009年美元效应","ba-fei-te-2009nian-mei-yuan-xiao-ying",{"title":1138,"slug":1139,"category":438,"order":1140},"2014 巴菲特致股东信","2014-ba-fei-te-zhi-gu-dong-xin",87,{"title":1142,"slug":1143,"category":420,"order":1140},"教学方法期刊","ba-fei-te-2009nian-a-ke-lun-da-xue-shang-xue-yuan-wen-da-shi-lu",{"title":1145,"slug":1146,"category":438,"order":1147},"2015 巴菲特致股东信","2015-ba-fei-te-zhi-gu-dong-xin",88,{"title":1149,"slug":1150,"category":420,"order":1147},"巴菲特：2010年\"捐赠誓言\"计划","ba-fei-te-2010nian-juan-zeng-shi-yan-ji-hua",{"title":1152,"slug":1153,"category":438,"order":1154},"2016 巴菲特致股东信","2016-ba-fei-te-zhi-gu-dong-xin",89,{"title":1156,"slug":1157,"category":420,"order":1154},"巴菲特：2010年CNBC 专访","ba-fei-te-2010nian-cnbc-zhuan-fang",{"title":1159,"slug":1160,"category":438,"order":1161},"2017 巴菲特致股东信","2017-ba-fei-te-zhi-gu-dong-xin",90,{"title":1163,"slug":1164,"category":420,"order":1161},"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":1166,"slug":1167,"category":438,"order":1168},"2018 巴菲特致股东信","2018-ba-fei-te-zhi-gu-dong-xin",91,{"title":1170,"slug":1171,"category":420,"order":1168},"巴菲特：2010年央视财经采访","ba-fei-te-2010nian-yang-shi-cai-jing-cai-fang",{"title":1173,"slug":1174,"category":438,"order":1175},"2019 巴菲特致股东信","2019-ba-fei-te-zhi-gu-dong-xin",92,{"title":1177,"slug":1178,"category":420,"order":1175},"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":1180,"slug":1181,"category":438,"order":1182},"2020 巴菲特致股东信","2020-ba-fei-te-zhi-gu-dong-xin",93,{"title":1184,"slug":1185,"category":420,"order":1182},"巴菲特：2010年慈善中国行","ba-fei-te-2010nian-ci-shan-zhong-guo-xing",{"title":1187,"slug":1188,"category":438,"order":1189},"2021 巴菲特致股东信","2021-ba-fei-te-zhi-gu-dong-xin",94,{"title":1191,"slug":1192,"category":420,"order":1189},"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":1194,"slug":1195,"category":438,"order":1196},"2022 巴菲特致股东信","2022-ba-fei-te-zhi-gu-dong-xin",95,{"title":1198,"slug":1199,"category":420,"order":1196},"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":1201,"slug":1202,"category":438,"order":1203},"2023 巴菲特致股东信","2023-ba-fei-te-zhi-gu-dong-xin",96,{"title":1205,"slug":1206,"category":420,"order":1203},"巴菲特：2011年500 亿美元的决定","ba-fei-te-2011nian-500-yi-mei-yuan-de-jue-ding",{"title":1208,"slug":1209,"category":438,"order":1210},"2024 巴菲特致股东信","2024-ba-fei-te-zhi-gu-dong-xin",97,{"title":1212,"slug":1213,"category":420,"order":1210},"巴菲特：2011年CNBC 专访","ba-fei-te-2011nian-cnbc-zhuan-fang",{"title":1215,"slug":1216,"category":438,"order":1217},"2025 巴菲特致股东信","2025-ba-fei-te-zhi-gu-dong-xin",98,{"title":1219,"slug":1220,"category":420,"order":1217},"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":1222,"slug":1223,"category":438,"order":1224},"2025 感恩节致辞","2025-gan-en-jie-zhi-ci",99,{"title":1226,"slug":1227,"category":420,"order":1224},"巴菲特：2011年查理·罗斯专访","ba-fei-te-2011nian-cha-li-luo-si-zhuan-fang",{"title":1229,"slug":1230,"category":438,"order":1231},"2026 阿贝尔致股东信","2026-a-bei-er-zhi-gu-dong-xin",100,{"title":1233,"slug":1234,"category":420,"order":1231},"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":1236,"slug":1237,"category":420,"order":1238},"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":1240,"slug":1241,"category":420,"order":1242},"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":1244,"slug":1245,"category":420,"order":1246},"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":1248,"slug":1249,"category":420,"order":1250},"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":1252,"slug":1253,"category":420,"order":1254},"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":1256,"slug":1257,"category":420,"order":1258},"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":1260,"slug":1261,"category":420,"order":1262},"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":1264,"slug":1265,"category":420,"order":1266},"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":1268,"slug":1269,"category":420,"order":1270},"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":1272,"slug":1273,"category":420,"order":1274},"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":1276,"slug":1277,"category":420,"order":1278},"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":1280,"slug":1281,"category":420,"order":1282},"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":1284,"slug":1285,"category":420,"order":1286},"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":1288,"slug":1289,"category":420,"order":1290},"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":1292,"slug":1293,"category":420,"order":1294},"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":1296,"slug":1297,"category":420,"order":1298},"亚利桑那州立大学雷鸟全球领导力教授杰夫·坎宁安采访沃伦·巴菲特（2015年）","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":1300,"slug":1301,"category":420,"order":1302},"巴菲特：2015年追忆唐基奥","ba-fei-te-2015nian-zhui-yi-tang-ji-ao",117,{"title":1304,"slug":1305,"category":420,"order":1306},"巴菲特：2015慈善承诺倡议","ba-fei-te-2015ci-shan-cheng-nuo-chang-yi",118,{"title":1308,"slug":1309,"category":420,"order":1310},"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":1312,"slug":1313,"category":420,"order":1314},"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":1316,"slug":1317,"category":420,"order":1318},"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":1320,"slug":1321,"category":420,"order":1322},"巴菲特：2017年接受CNBC采访","ba-fei-te-2017nian-jie-shou-cnbccai-fang",122,{"title":1324,"slug":1325,"category":420,"order":1326},"巴菲特：2017年接受PBS NEWS专访","ba-fei-te-2017nian-jie-shou-pbs-newszhuan-fang",123,{"title":1328,"slug":1329,"category":420,"order":1330},"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":1332,"slug":1333,"category":420,"order":1334},"巴菲特：2017年美国的未来","ba-fei-te-2017nian-mei-guo-de-wei-lai",125,{"title":1336,"slug":1337,"category":420,"order":1338},"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":1340,"slug":1341,"category":420,"order":1342},"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":1344,"slug":1345,"category":420,"order":1346},"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":1348,"slug":1349,"category":420,"order":1350},"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":1352,"slug":1353,"category":420,"order":1354},"巴菲特：2020年接受CNBC专访","ba-fei-te-2020nian-jie-shou-cnbczhuan-fang",130,{"title":1356,"slug":1357,"category":420,"order":1358},"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":1360,"slug":1361,"category":420,"order":1362},"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":5,"slug":430,"category":420,"order":426},{"title":1365,"slug":1366,"category":420,"order":1367},"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":1369,"slug":1370,"category":420,"order":1371},"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":1373,"slug":1374,"category":420,"order":1375},"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":1377,"slug":1378,"category":420,"order":1379},"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":1381,"slug":1382,"category":420,"order":1383},"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":1385,"slug":1386,"category":420,"order":1387},"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":1389,"slug":1390,"category":420,"order":1391},"巴菲特：2023年接受CNBC专访","ba-fei-te-2023nian-jie-shou-cnbczhuan-fang",140,{"title":1393,"slug":1394,"category":420,"order":1395},"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":1397,"slug":1398,"category":420,"order":1399},"巴菲特：2025年接受cbs采访","ba-fei-te-2025nian-jie-shou-cbscai-fang",142,{"title":1401,"slug":1402,"category":420,"order":1403},"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":1405,"slug":1406,"category":420,"order":1407},"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":1409,"slug":1410,"category":420,"order":1411},"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":1413,"slug":1414,"category":420,"order":1415},"巴菲特72条投资经典语录","ba-fei-te-72tiao-tou-zi-jing-dian-yu-lu",146,{"title":1417,"slug":1418,"category":420,"order":1419},"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":1421,"slug":1422,"category":420,"order":1423},"巴菲特：如何建立能力圈","ba-fei-te-ru-he-jian-li-neng-li-quan",148,{"title":1425,"slug":1426,"category":420,"order":1427},"巴菲特：巴菲特估值逻辑","ba-fei-te-ba-fei-te-gu-zhi-luo-ji",149,{"title":1429,"slug":1430,"category":420,"order":1431},"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":1433,"slug":1434,"category":420,"order":1435},"考夫曼：Glenair 企业文化","kao-fu-man-glenair-qi-ye-wen-hua",151,[1437,1441,1444,1447,1450,1453,1456,1459,1462,1466,1470,1473,1476,1479,1482,1485,1488,1491,1494,1497,1500,1503,1506,1509,1512,1516,1519,1522,1525,1528,1531,1534,1537,1540,1543,1547,1550,1553,1556,1559,1562,1565,1568,1572,1575,1578,1581,1584,1587,1590,1593,1596,1599,1602,1605,1608,1611,1614,1617,1620,1623,1626,1629,1632,1635,1638,1641,1644,1647,1650,1653,1658,1662,1666,1670,1674,1678,1682,1686,1690,1694,1698,1702,1706,1710,1714,1718,1722,1726,1730,1734],{"title":1438,"slug":1439,"category":1440,"order":439},"本分","benfen","核心哲学",{"title":1442,"slug":1443,"category":1440,"order":418},"平常心","pingchangxin",{"title":1445,"slug":1446,"category":1440,"order":459},"做对的事情","zuoduideshiqing",{"title":1448,"slug":1449,"category":1440,"order":469},"把事情做对","bashiqingzuodui",{"title":1451,"slug":1452,"category":1440,"order":479},"能力圈","nengliquan",{"title":1454,"slug":1455,"category":1440,"order":489},"不做什么","buzuoshenme",{"title":1457,"slug":1458,"category":1440,"order":499},"敢为天下后","ganweitianxiahou",{"title":1460,"slug":1461,"category":1440,"order":509},"消费者导向","xiaofeizhedaoxiang",{"title":1463,"slug":1464,"category":1465,"order":519},"价值投资","jiazhitouzi","投资理念",{"title":1467,"slug":1468,"category":1469,"order":529},"负债","fuzhai","财务指标",{"title":1471,"slug":1472,"category":1465,"order":529},"商业模式","shangyemoshi",{"title":1474,"slug":1475,"category":1465,"order":539},"护城河","huchenghe",{"title":1477,"slug":1478,"category":1469,"order":539},"净现金","jingxianjin",{"title":1480,"slug":1481,"category":1469,"order":549},"开销合理性","kaixiaohelixing",{"title":1483,"slug":1484,"category":1465,"order":549},"现金流","xianjinliu",{"title":1486,"slug":1487,"category":1469,"order":559},"真实利润","zhenshilirun",{"title":1489,"slug":1490,"category":1465,"order":559},"折现","zhexian",{"title":1492,"slug":1493,"category":1465,"order":569},"安全边际","anquanbianji",{"title":1495,"slug":1496,"category":1469,"order":569},"扣除商誉的净资产","jingzichan",{"title":1498,"slug":1499,"category":1465,"order":579},"基本面","jibenmian",{"title":1501,"slug":1502,"category":1465,"order":589},"机会成本","jihuichengben",{"title":1504,"slug":1505,"category":1465,"order":599},"长期持有","zhangqichiyou",{"title":1507,"slug":1508,"category":1465,"order":609},"投机","touji",{"title":1510,"slug":1511,"category":1465,"order":619},"止损","zhisun",{"title":1513,"slug":1514,"category":1515,"order":629},"企业文化","qiyewenhua","企业经营",{"title":1517,"slug":1518,"category":1515,"order":639},"品牌","pinpai",{"title":1520,"slug":1521,"category":1515,"order":649},"差异化","chayihua",{"title":1523,"slug":1524,"category":1515,"order":659},"用户体验","yonghutiyan",{"title":1526,"slug":1527,"category":1515,"order":669},"渠道","qudao",{"title":1529,"slug":1530,"category":1515,"order":679},"平台","pingtai",{"title":1532,"slug":1533,"category":1515,"order":689},"生态系统","shengtaixitong",{"title":1535,"slug":1536,"category":1515,"order":699},"单一产品","danyichanpin",{"title":1538,"slug":1539,"category":1515,"order":709},"造钟人","zaozhongren",{"title":1541,"slug":1542,"category":1515,"order":719},"利润之上的追求","lirunzhishangdezhuiqiu",{"title":1544,"slug":1545,"category":1546,"order":729},"进取心","jinquxin","品格与心性",{"title":1548,"slug":1549,"category":1546,"order":739},"耐心","naixin",{"title":1551,"slug":1552,"category":1546,"order":749},"责任心","zerenxin",{"title":1554,"slug":1555,"category":1546,"order":759},"爱心","aixin",{"title":1557,"slug":1558,"category":1546,"order":769},"信誉","xinyu",{"title":1560,"slug":1561,"category":1546,"order":776},"正直","zhengzhi",{"title":1563,"slug":1564,"category":1546,"order":783},"理性","lixing",{"title":1566,"slug":1567,"category":1546,"order":790},"长期主义","zhangqizhuyi",{"title":1569,"slug":1570,"category":1571,"order":1231},"1999年 《都市快报》采访手记","duanyongping-1999nian-doushikuaibao-caifangshouji","访谈实录",{"title":1573,"slug":1574,"category":1571,"order":1238},"1999年 步步高讲话","duanyongping-1999nian-bubugaojianghua",{"title":1576,"slug":1577,"category":1571,"order":1242},"1999年做客人民大学精彩问答实录","duanyongping-1999nianzuokerenmindaxuejingcaiwendashilu",{"title":1579,"slug":1580,"category":1571,"order":1246},"2000年 《销售与市场》杂志专访","duanyongping-2000nian-xiaoshouyushichang-zazhizhuanfang",{"title":1582,"slug":1583,"category":1571,"order":1250},"2000年在央视“品牌与传播国际论坛”上的演讲","duanyongping-2000nianzaiyangshi-pinpaiyuchuanboguojiluntan-shangdeyanjiang",{"title":1585,"slug":1586,"category":1571,"order":1254},"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":1588,"slug":1589,"category":1571,"order":1258},"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":1591,"slug":1592,"category":1571,"order":1262},"2001年 我为什么要去读书？ —— 《读者》2001年11月刊","duanyongping-2001nian-woweishenmeyaoqudushu-duzhe-2001nian11yuekan",{"title":1594,"slug":1595,"category":1571,"order":1266},"2001年《世界经理人文摘》专访","duanyongping-2001nian-shijiejinglirenwenzhai-zhuanfang",{"title":1597,"slug":1598,"category":1571,"order":1270},"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":1600,"slug":1601,"category":1571,"order":1274},"2003年北京大学总裁班演讲座谈会全程实录","duanyongping-2003nianbeijingdaxuezongcaibanyanjiangzuotanhuiquanchengshilu",{"title":1603,"slug":1604,"category":1571,"order":1278},"2004财富人生—段永平 2004 采访","duanyongping-2004caifurensheng-duanyongping-2004-caifang",{"title":1606,"slug":1607,"category":1571,"order":1282},"2005年步步高十周年“记”念晚会：段永平发言","duanyongping-2005nianbubugaoshizhounian-ji-nianwanhui-duanyongpingfayan",{"title":1609,"slug":1610,"category":1571,"order":1286},"2006年 深度对话网易证券全程实录","duanyongping-2006nian-shenduduihuawangyizhengquanquanchengshilu",{"title":1612,"slug":1613,"category":1571,"order":1290},"2006年做客新浪财经频道聊天全实录","duanyongping-2006nianzuokexinlangcaijingpindaoliaotianquanshilu",{"title":1615,"slug":1616,"category":1571,"order":1294},"2006年浙大“实话实说”","duanyongping-2006nianzheda-shihuashishuo",{"title":1618,"slug":1619,"category":1571,"order":1298},"2007年与巴菲特共进午餐后网易专访","duanyongping-2007nianyubafeitegongjinwucanhouwangyizhuanfang",{"title":1621,"slug":1622,"category":1571,"order":1302},"2007年波士堂访谈","duanyongping-2007nianboshitangfangtan",{"title":1624,"slug":1625,"category":1571,"order":1306},"2009年 深度专访： 探讨公益人生，分享成功体会","duanyongping-2009nian-shenduzhuanfang-tantaogongyirensheng-fenxiangchenggongtihu",{"title":1627,"slug":1628,"category":1571,"order":1310},"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":1630,"slug":1631,"category":1571,"order":1314},"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":1633,"slug":1634,"category":1571,"order":1318},"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":1636,"slug":1637,"category":1571,"order":1322},"2011年买入苹果思考","duanyongping-2011nianmairupingguosikao",{"title":1639,"slug":1640,"category":1571,"order":1326},"2013年浙大演讲","duanyongping-2013nianzhedayanjiang",{"title":1642,"slug":1643,"category":1571,"order":1330},"2016年浙大60周年专访","duanyongping-2016nianzheda60zhounianzhuanfang",{"title":1645,"slug":1646,"category":1571,"order":1334},"2025年浙江大学演讲及问答完整版","duanyongping-2025nianzhejiangdaxueyanjiangjiwendawanzhengban",{"title":1648,"slug":1649,"category":1571,"order":1338},"2025年谈躺平与内卷、与王石交流子女教育","duanyongping-2025niantantangpingyuneijuan-yuwangshijiaoliuzinvjiaoyu",{"title":1651,"slug":1652,"category":1571,"order":1342},"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":1654,"slug":1655,"category":1656,"order":1657},"问答录：第一章 投资大道","dadaotouziwendalu-diyizhangtouzidadao","投资问答录",200,{"title":1659,"slug":1660,"category":1656,"order":1661},"问答录：第二章 商业模式和企业文化","dadaotouziwendalu-dierzhangshangyemoshiheqiyewenhua",201,{"title":1663,"slug":1664,"category":1656,"order":1665},"问答录：第三章 公司点评","dadaotouziwendalu-disanzhanggongsidianping",202,{"title":1667,"slug":1668,"category":1656,"order":1669},"问答录：第四章 人生箴言","dadaotouziwendalu-disizhangrenshengzhenyan",203,{"title":1671,"slug":1672,"category":1656,"order":1673},"问答录：第五章 演讲与访谈","dadaotouziwendalu-diwuzhangyanjiangyufangtan",204,{"title":1675,"slug":1676,"category":1656,"order":1677},"问答录：第六章 更新","dadaotouziwendalu-diliuzhangduzhegengxin",205,{"title":1679,"slug":1680,"category":1656,"order":1681},"商业逻辑篇：第1节：伟大企业","duanyongping-shangyeluoji-di1jie-weidaqiye",401,{"title":1683,"slug":1684,"category":1656,"order":1685},"商业逻辑篇：第2节：商业模式","duanyongping-shangyeluoji-di2jie-shangyemoshi",402,{"title":1687,"slug":1688,"category":1656,"order":1689},"商业逻辑篇：第3节：企业文化","duanyongping-shangyeluoji-di3jie-qiyewenhua",403,{"title":1691,"slug":1692,"category":1656,"order":1693},"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":1695,"slug":1696,"category":1656,"order":1697},"商业逻辑篇：第5节：品牌、营销与广告","duanyongping-shangyeluoji-di5jie-pinpai-yingxiao-yu-guanggao",405,{"title":1699,"slug":1700,"category":1656,"order":1701},"商业逻辑篇：第6节：收购和多元化","duanyongping-shangyeluoji-di6jie-shougouheduoyuanhua",406,{"title":1703,"slug":1704,"category":1656,"order":1705},"商业逻辑篇：第7节：Stop doing list（不为清单）","duanyongping-shangyeluoji-di7jie-stop-doing-list-buweiqingdan",407,{"title":1707,"slug":1708,"category":1656,"order":1709},"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":1711,"slug":1712,"category":1656,"order":1713},"投资逻辑篇：第1章：投资理念","duanyongping-touziluoji-di1zhang-touzilinian",410,{"title":1715,"slug":1716,"category":1656,"order":1717},"投资逻辑篇：第2章：投资理解","duanyongping-touziluoji-di2jie-touzilijie",411,{"title":1719,"slug":1720,"category":1656,"order":1721},"投资问答录：第3章 golf和投资","duanyongping-touziluoji-di3zhang-golfhetouzi",412,{"title":1723,"slug":1724,"category":1656,"order":1725},"投资逻辑篇：第4章 财务理解","duanyongping-touziwendalu-touziluoji-di4zhang-caiwulijie",413,{"title":1727,"slug":1728,"category":1656,"order":1729},"投资逻辑篇：第5章：估值逻辑","duanyongping-touziluoji-di5zhang-guzhiluoji",414,{"title":1731,"slug":1732,"category":1656,"order":1733},"投资逻辑篇：第6章 投资方法论","duanyongping-touziluoji-di6zhang-touzifangfalun",415,{"title":1735,"slug":1736,"category":1656,"order":1737},"投资逻辑篇：第7章：案例分析","duanyongping-touziluoji-di7zhang-anlifenxi",416,[1739,1742,1745,1748,1752,1756,1759,1763,1765,1768,1771,1774,1778,1781,1784,1787,1790,1794,1797,1800,1803,1806,1810,1813,1816,1818,1821,1824,1827,1830,1833,1836,1839,1842,1845,1848,1851,1854,1857,1860,1863,1866,1869,1872,1875,1878,1881,1884,1887,1890,1893,1896,1899,1902,1905,1908,1911,1914,1917,1920,1923,1926,1929,1932,1935,1938,1942,1945,1948,1951,1954,1958,1961,1964,1967],{"title":1451,"slug":1740,"category":1741,"order":439},"ability-circle","决策与战略",{"title":1743,"slug":1744,"category":1741,"order":418},"逆向思维","inversion",{"title":1501,"slug":1746,"category":1747,"order":459},"opportunity-cost","经济学",{"title":1749,"slug":1750,"category":1751,"order":469},"复利","compound-interest","数学与概率论",{"title":1753,"slug":1754,"category":1755,"order":479},"激励机制","incentives","心理学",{"title":1757,"slug":1758,"category":1751,"order":489},"概率思维","probabilistic-thinking",{"title":1760,"slug":1761,"category":1762,"order":499},"二阶效应","second-order-effects","哲学与逻辑",{"title":1492,"slug":1764,"category":1741,"order":509},"margin-of-safety",{"title":1766,"slug":1767,"category":1755,"order":519},"心理误判","psychology-of-misjudgment",{"title":1769,"slug":1770,"category":1741,"order":529},"检查清单","checklist",{"title":1772,"slug":1773,"category":1747,"order":539},"规模优势","scale-advantage",{"title":1775,"slug":1776,"category":1777,"order":549},"冗余与容错","redundancy","工程学\u002F系统",{"title":1779,"slug":1780,"category":1751,"order":559},"排列组合","combinatorics",{"title":1782,"slug":1783,"category":1751,"order":569},"费马-帕斯卡","fermat-pascal",{"title":1785,"slug":1786,"category":1751,"order":579},"均值回归","regression-to-the-mean",{"title":1788,"slug":1789,"category":1751,"order":589},"量化分析","quantitative-analysis",{"title":1791,"slug":1792,"category":1793,"order":599},"临界点\u002F相变","critical-point-phase-transition","物理学",{"title":1795,"slug":1796,"category":1793,"order":609},"平衡态","equilibrium",{"title":1798,"slug":1799,"category":1793,"order":619},"熵增定律","entropy",{"title":1801,"slug":1802,"category":1793,"order":629},"能量守恒","conservation-of-energy",{"title":1804,"slug":1805,"category":1793,"order":639},"杠杆原理","leverage",{"title":1807,"slug":1808,"category":1809,"order":649},"自然选择","natural-selection","生物学\u002F进化论",{"title":1811,"slug":1812,"category":1809,"order":659},"物竞天择","competition-for-resources",{"title":1814,"slug":1815,"category":1809,"order":669},"进化思维","evolutionary-thinking",{"title":1532,"slug":1817,"category":1809,"order":679},"ecosystem",{"title":1819,"slug":1820,"category":1755,"order":689},"爱好倾向","liking-tendency",{"title":1822,"slug":1823,"category":1755,"order":699},"讨厌倾向","disliking-tendency",{"title":1825,"slug":1826,"category":1755,"order":709},"避免怀疑倾向","doubt-avoidance-tendency",{"title":1828,"slug":1829,"category":1755,"order":719},"一致性倾向","consistency-tendency",{"title":1831,"slug":1832,"category":1755,"order":729},"好奇心倾向","curiosity-tendency",{"title":1834,"slug":1835,"category":1755,"order":739},"康德式公平","kantian-fairness",{"title":1837,"slug":1838,"category":1755,"order":749},"艳羡\u002F妒忌倾向","envy-jealousy-tendency",{"title":1840,"slug":1841,"category":1755,"order":759},"反馈倾向","reciprocation-tendency",{"title":1843,"slug":1844,"category":1755,"order":769},"权威误导","authority-misinfluence",{"title":1846,"slug":1847,"category":1755,"order":776},"重视理由","reason-respecting-tendency",{"title":1849,"slug":1850,"category":1755,"order":783},"过度乐观","over-optimism",{"title":1852,"slug":1853,"category":1755,"order":790},"损失厌恶","loss-aversion",{"title":1855,"slug":1856,"category":1755,"order":797},"否认倾向","denial-tendency",{"title":1858,"slug":1859,"category":1755,"order":804},"过度反应","overreaction-tendency",{"title":1861,"slug":1862,"category":1755,"order":811},"社群影响","social-influence",{"title":1864,"slug":1865,"category":1755,"order":818},"压力倾向","stress-influence-tendency",{"title":1867,"slug":1868,"category":1755,"order":825},"物质主义","materialism-tendency",{"title":1870,"slug":1871,"category":1755,"order":832},"废话倾向","twaddle-tendency",{"title":1873,"slug":1874,"category":1755,"order":839},"确认偏误","confirmation-bias",{"title":1876,"slug":1877,"category":1755,"order":846},"锚定效应","anchoring-effect",{"title":1879,"slug":1880,"category":1755,"order":853},"现时偏差","present-bias",{"title":1882,"slug":1883,"category":1755,"order":860},"贪婪倾向","greed-tendency",{"title":1885,"slug":1886,"category":1747,"order":867},"边际成本\u002F收益","marginal-cost-benefit",{"title":1888,"slug":1889,"category":1747,"order":874},"供需关系","supply-and-demand",{"title":1891,"slug":1892,"category":1747,"order":881},"帕累托最优","pareto-optimality",{"title":1894,"slug":1895,"category":1747,"order":888},"竞争性毁灭","creative-destruction",{"title":1897,"slug":1898,"category":1741,"order":895},"双轨分析","two-track-analysis",{"title":1900,"slug":1901,"category":1741,"order":902},"非线性思维","nonlinear-thinking",{"title":1903,"slug":1904,"category":1741,"order":909},"极化思考","extreme-thinking",{"title":1906,"slug":1907,"category":1741,"order":916},"必要功","necessary-work",{"title":1909,"slug":1910,"category":1777,"order":923},"停机问题","halting-problem",{"title":1912,"slug":1913,"category":1777,"order":930},"闭环系统","closed-loop-system",{"title":1915,"slug":1916,"category":1777,"order":937},"故障安全","fail-safe",{"title":1918,"slug":1919,"category":1777,"order":944},"反向设计","reverse-design",{"title":1921,"slug":1922,"category":1777,"order":951},"瓶颈分析","bottleneck-analysis",{"title":1924,"slug":1925,"category":1762,"order":958},"第一性原理","first-principles",{"title":1927,"slug":1928,"category":1762,"order":965},"证伪思维","falsification",{"title":1930,"slug":1931,"category":1762,"order":972},"奥卡姆剃刀","occams-razor",{"title":1933,"slug":1934,"category":1762,"order":979},"中道思维","middle-way",{"title":1936,"slug":1937,"category":1762,"order":986},"不可知论","agnosticism",{"title":1939,"slug":1940,"category":1941,"order":993},"大数定律","law-of-large-numbers","统计学",{"title":1943,"slug":1944,"category":1941,"order":1000},"样本偏差","sample-bias",{"title":1946,"slug":1947,"category":1941,"order":1007},"相关性≠因果","correlation-not-causation",{"title":1949,"slug":1950,"category":1941,"order":1014},"幸存者偏差","survivorship-bias",{"title":1952,"slug":1953,"category":1941,"order":1021},"基本比率","base-rate",{"title":1955,"slug":1956,"category":1957,"order":1028},"社会认同","social-proof","社会学",{"title":1959,"slug":1960,"category":1957,"order":1035},"部落本能","tribal-instinct",{"title":1962,"slug":1963,"category":1957,"order":1042},"金蛋定律","golden-egg-rule",{"title":1965,"slug":1966,"category":1957,"order":1049},"互利共生","mutualism",{"title":1968,"slug":1969,"category":1957,"order":1056},"激励传导","incentive-transmission",1778147268136]