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价值投资不等于长期投资，但价值投资一般都是长期投资",[63,64,65],"blockquote",{},[17,66,67,68,70,71,73],{},"\"只想说一点:'长期投资'并不自动等于",[20,69,32],{"href":31},"，但",[20,72,32],{"href":31},"一般都是长期投资。\"",[63,75,76],{},[17,77,78],{},"\"也许'长期投资'这个说法有点问题，叫'投资长期'似乎不容易误解。\"",[63,80,81],{},[17,82,83,84,86],{},"\"我跟好多人讲，他就是讲不明白。说哎呀",[20,85,32],{"href":31},"就是长期投资，不是的。\"（2025年浙大演讲）",[58,88,90],{"id":89},"_2-好公司才值得长期持有","2. 好公司才值得长期持有",[63,92,93],{},[17,94,95,96,98,99,101,102,104],{},"\"",[20,97,32],{"href":31},"并不是盲目地买进并",[20,100,5],{"href":22},"。如果是好公司才值得在好价格时买进并",[20,103,5],{"href":22},"。当然，好价格并不一定是抄底的价格（如果是当然好），好价格指的是10年后回头看:哇塞，那真是好价格。\"",[63,106,107],{},[17,108,109,110,112,113,115],{},"\"好价和",[20,111,5],{"href":22},"的关系是什么呢?其实是好股",[20,114,5],{"href":22},"就是好价了，而不是买到了好价钱的意思。\"（2019-10-14）",[58,117,119],{"id":118},"_3-不打算拿十年就不要碰","3. 不打算拿十年就不要碰",[63,121,122],{},[17,123,124],{},"\"不打算拿10年的股票一定别去打算拿10天，不然就是'炒'了。\"（2011-12-13）",[63,126,127],{},[17,128,129,130,134],{},"\"不打算拿十年的'投资'最好就不要碰，不要想着市场或者风口啥的。打算拿十年的结果未必就一定要拿十年的，但不打算拿十年的心态会让你很容易做一个",[20,131,133],{"href":132},"\u002Flibrary\u002Ftouji","投机","的决定。\"（2026-01-23）",[58,136,138],{"id":137},"_4-时间是好生意的朋友","4. 时间是好生意的朋友",[63,140,141],{},[17,142,143,144,146,147,149,150,152,153,155],{},"\"时间是好生意的朋友，烂生意的敌人。如果",[20,145,5],{"href":22},"一个烂生意，就算买得再便宜，最后也只能取得很烂的收益。如果",[20,148,5],{"href":22},"好生意，就算买得贵了一些，只要",[20,151,5],{"href":22},"，还是会取得出色的收益。\"（引用",[25,154,39],{},"演讲）",[13,157,158],{"id":158},"实战案例",[58,160,162,165],{"id":161},"苹果14年的持有",[25,163,164],{},"苹果","：14年的持有",[17,167,168,170,171,173,174,178],{},[25,169,27],{},"2011年买入",[25,172,164],{},"，到2025年已持有14年。他说：\"要是对这个生意理解不了，对文化理解不了，对",[20,175,177],{"href":176},"\u002Flibrary\u002Fshangyemoshi","商业模式","理解不了，早就跑了，也不可能留到现在。\"（2025年浙大演讲）",[58,180,182,185],{"id":181},"茅台十几年的持有",[25,183,184],{},"茅台","：十几年的持有",[63,187,188],{},[17,189,190,191,193,194,196,197,199],{},"\"很多人说，",[20,192,32],{"href":31},"很难。但",[20,195,133],{"href":132},"更难！我买",[25,198,184],{},"一直拿着，拿了十几年，我难在哪儿了？\"（2025年）",[58,201,203,206],{"id":202},"网易赚了100多倍但最终卖出",[25,204,205],{},"网易","：赚了100多倍但最终卖出",[17,208,209,210,212,213,215,216,220],{},"段永平在",[25,211,205],{},"上赚了100多倍，但后来还是卖出了。他坦言：\"我卖肯定有我卖的原因，有卖的道理，而且我其实也没少赚，因为我有其他的也很好的投资标的。\"——这说明",[20,214,5],{"href":22},"不是永远不卖，而是基于对公司和",[20,217,219],{"href":218},"\u002Flibrary\u002Fjihuichengben","机会成本","的判断。",[58,222,224],{"id":223},"被套时才想起长线最危险的情形","被套时才想起长线：最危险的情形",[63,226,227],{},[17,228,229],{},"\"长线持有一定是在买对好股票的前提下。有很多人往往只是在'被套'的时候才想起'长线'来。\"",[63,231,232],{},[17,233,234],{},"\"这里'被套'的意思是指有些人本来只打算拿10天的股票，结果因为'亏钱'了而决定改为拿10年，这种决定往往会让人亏更多。\"（2011-12-13）",[13,236,237],{"id":237},"常见误解",[58,239,241],{"id":240},"误解一长期持有就是价值投资","误解一：长期持有就是价值投资",[63,243,244],{},[17,245,246,247,249,250,252],{},"\"最危险的可能是一知半解的那种:比如号称自己是",[20,248,32],{"href":31},"者，也知道",[20,251,32],{"href":31},"要拿长线的道理（知其然不知其所以然），结果买错股票又坚持长线持有。\"",[58,254,256],{"id":255},"误解二长期持有意味着坚守","误解二：长期持有意味着坚守",[63,258,259],{},[17,260,261,262,264,265,269],{},"\"买了一个好生意一直拿着真的会觉得很难受吗?假设我们拥有整个",[25,263,184],{},"，每天",[20,266,268],{"href":267},"\u002Flibrary\u002Fxianjinliu","现金流","杠杠的，你在坚守啥?\"",[17,271,272],{},"网友补充：\"'坚守'好像是在说抱着印钞机感觉很难受的样子。\"",[58,274,276],{"id":275},"误解三不应该做差价","误解三：不应该做差价",[63,278,279],{},[17,280,281],{},"\"我也想过这么做来着，谁不想赚差价啊，但这么做的结果基本上都是瞎忙半天还少赚了，所以以后就不再想干这种事情了。\"",[13,283,284],{"id":284},"思想演变",[17,286,287,290,291,293,294,296],{},[25,288,289],{},"2007年","：与",[25,292,39],{},"共进午餐后，明确了\"买股票就要",[20,295,5],{"href":22},"\"的理念。",[17,298,299,302,303,305],{},[25,300,301],{},"2010-2013年","：在雪球上大量讨论",[20,304,5],{"href":22},"的条件和注意事项。特别提出\"投资长期\"的说法来纠正\"长期投资\"的误解。",[17,307,308,311,312,314,315,317],{},[25,309,310],{},"2019-2020年","：提炼出\"好股",[20,313,5],{"href":22},"就是好价了\"的精妙表述，将好公司和",[20,316,5],{"href":22},"紧密联系。",[17,319,320,323,324,326,327,329,330,334,335,337],{},[25,321,322],{},"2025-2026年","：在多个场合重申",[20,325,5],{"href":22},"的前提是看懂公司的",[20,328,177],{"href":176},"和",[20,331,333],{"href":332},"\u002Flibrary\u002Fqiyewenhua","企业文化","。同时明确\"不打算拿十年的心态会让你做出",[20,336,133],{"href":132},"的决定\"。",[13,339,340],{"id":340},"原话引用",[63,342,343],{},[17,344,345,346,348],{},"\"买股票就像买一个公司的一部分，买股票就要",[20,347,5],{"href":22},"。\"（2007年网易专访）",[63,350,351],{},[17,352,95,353,98,355,101,357,46],{},[20,354,32],{"href":31},[20,356,5],{"href":22},[20,358,5],{"href":22},[63,360,361],{},[17,362,363],{},"\"长线持有一定是在买对好股票的前提下。有很多人往往只是在'被套'的时候才想起'长线'来。\"（2011-12-13）",[63,365,366],{},[17,367,124],{},[63,369,370],{},[17,371,78],{},[63,373,374],{},[17,375,376,377,115],{},"\"好股",[20,378,5],{"href":22},[63,380,381],{},[17,382,383,384,386,387,389],{},"\"呵呵，最理想的就是可以",[20,385,5],{"href":22},"、永远不想卖的股票（",[25,388,39],{},"讲的）。\"（2010-05-16）",[63,391,392],{},[17,393,143,394,396,397,399],{},[20,395,5],{"href":22},"一个烂生意，就算买得再便宜，最后也只能取得很烂的收益。\"（引用",[25,398,39],{},"）",{"title":401,"searchDepth":402,"depth":402,"links":403},"",2,[404,405,412,421,426,427],{"id":15,"depth":402,"text":15},{"id":56,"depth":402,"text":56,"children":406},[407,409,410,411],{"id":60,"depth":408,"text":61},3,{"id":89,"depth":408,"text":90},{"id":118,"depth":408,"text":119},{"id":137,"depth":408,"text":138},{"id":158,"depth":402,"text":158,"children":413},[414,416,418,420],{"id":161,"depth":408,"text":415},"苹果：14年的持有",{"id":181,"depth":408,"text":417},"茅台：十几年的持有",{"id":202,"depth":408,"text":419},"网易：赚了100多倍但最终卖出",{"id":223,"depth":408,"text":224},{"id":237,"depth":402,"text":237,"children":422},[423,424,425],{"id":240,"depth":408,"text":241},{"id":255,"depth":408,"text":256},{"id":275,"depth":408,"text":276},{"id":284,"depth":402,"text":284},{"id":340,"depth":402,"text":340},"投资理念",null,"长期持有在段永平看来不是一个独立的投资策略，而是价值投资的自然结果。他特别强调\"投资长期\"比\"长期投资\"更准确——重点不在于\"长期\"，而在于投的是值得长期拥有的好公司。","md",{},true,17,"\u002Fdao\u002Fconcepts\u002Fzhangqichiyou",{"title":5,"description":430},"段永平谈长期持有：长期持有在段永平看来不是一个独立的投资策略，而是价值投资的自然结果。他特别强调\"投资长期\"比\"长期投资\"更准确——重点不在于\"长期\"，而在于投的是值得长期拥有的好公司。","长期持有｜大道总纲","zhangqichiyou","dao\u002Fconcepts\u002Fzhangqichiyou","JiOwcPDhPed2ixJHy_8BpdEosMhgaSNThnirfzDoiN8","dao",[444,449,453,457,460,463,466,469,472,475,479,482,485,489,492,495,499,502,505,509,512,515,519,522,525,529,532,535,539,542,545,549,552,555,559,562,565,569,572,575,579,582,585,589,592,595,599,602,605,608,611,6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有限合伙协议","1956-you-xian-he-huo-xie-yi","致股东信",1,{"title":450,"slug":451,"category":452,"order":448},"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":454,"slug":455,"category":456,"order":448},"1994年伯克希尔股东大会","1994nian-bo-ke-xi-er-gu-dong-da-hui","股东大会",{"title":458,"slug":459,"category":447,"order":402},"1957 巴菲特致合伙人信","1957-ba-fei-te-zhi-he-huo-ren-xin",{"title":461,"slug":462,"category":452,"order":402},"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":464,"slug":465,"category":456,"order":402},"1995年伯克希尔股东大会","1995nian-bo-ke-xi-er-gu-dong-da-hui",{"title":467,"slug":468,"category":447,"order":408},"1958 巴菲特致合伙人信","1958-ba-fei-te-zhi-he-huo-ren-xin",{"title":470,"slug":471,"category":452,"order":408},"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":473,"slug":474,"category":456,"order":408},"1996年伯克希尔股东大会","1996nian-bo-ke-xi-er-gu-dong-da-hui",{"title":476,"slug":477,"category":447,"order":478},"1959 巴菲特致合伙人信","1959-ba-fei-te-zhi-he-huo-ren-xin",4,{"title":480,"slug":481,"category":452,"order":478},"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":483,"slug":484,"category":456,"order":478},"1997年伯克希尔股东大会","1997nian-bo-ke-xi-er-gu-dong-da-hui",{"title":486,"slug":487,"category":447,"order":488},"1960 巴菲特致合伙人信","1960-ba-fei-te-zhi-he-huo-ren-xin",5,{"title":490,"slug":491,"category":452,"order":488},"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":493,"slug":494,"category":456,"order":488},"1998年伯克希尔股东大会","1998nian-bo-ke-xi-er-gu-dong-da-hui",{"title":496,"slug":497,"category":447,"order":498},"1961 巴菲特致合伙人信","1961-ba-fei-te-zhi-he-huo-ren-xin",6,{"title":500,"slug":501,"category":452,"order":498},"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":503,"slug":504,"category":456,"order":498},"1999年伯克希尔股东大会","1999nian-bo-ke-xi-er-gu-dong-da-hui",{"title":506,"slug":507,"category":447,"order":508},"1961年中 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巴菲特致股东信","1981-ba-fei-te-zhi-gu-dong-xin",52,{"title":905,"slug":906,"category":452,"order":903},"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":908,"slug":909,"category":447,"order":910},"1982 巴菲特致股东信","1982-ba-fei-te-zhi-gu-dong-xin",53,{"title":912,"slug":913,"category":452,"order":910},"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":915,"slug":916,"category":447,"order":917},"1983 巴菲特致股东信","1983-ba-fei-te-zhi-gu-dong-xin",54,{"title":919,"slug":920,"category":452,"order":917},"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":922,"slug":923,"category":447,"order":924},"1984 巴菲特致股东信","1984-ba-fei-te-zhi-gu-dong-xin",55,{"title":926,"slug":927,"category":452,"order":924},"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":929,"slug":930,"category":447,"order":931},"1985 巴菲特致股东信","1985-ba-fei-te-zhi-gu-dong-xin",56,{"title":933,"slug":934,"category":452,"order":931},"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":936,"slug":937,"category":447,"order":938},"1986 巴菲特致股东信","1986-ba-fei-te-zhi-gu-dong-xin",57,{"title":940,"slug":941,"category":452,"order":938},"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":943,"slug":944,"category":447,"order":945},"1987 巴菲特致股东信","1987-ba-fei-te-zhi-gu-dong-xin",58,{"title":947,"slug":948,"category":452,"order":945},"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":950,"slug":951,"category":447,"order":952},"1988 巴菲特致股东信","1988-ba-fei-te-zhi-gu-dong-xin",59,{"title":954,"slug":955,"category":452,"order":952},"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":957,"slug":958,"category":447,"order":959},"1989 巴菲特致股东信","1989-ba-fei-te-zhi-gu-dong-xin",60,{"title":961,"slug":962,"category":452,"order":959},"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":964,"slug":965,"category":447,"order":966},"1990 巴菲特致股东信","1990-ba-fei-te-zhi-gu-dong-xin",61,{"title":968,"slug":969,"category":452,"order":966},"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":971,"slug":972,"category":447,"order":973},"1991 巴菲特致股东信","1991-ba-fei-te-zhi-gu-dong-xin",62,{"title":975,"slug":976,"category":452,"order":973},"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":978,"slug":979,"category":447,"order":980},"1992 巴菲特致股东信","1992-ba-fei-te-zhi-gu-dong-xin",63,{"title":982,"slug":983,"category":452,"order":980},"巴菲特：2006年慈善捐赠承诺","ba-fei-te-2006nian-ci-shan-juan-zeng-cheng-nuo",{"title":985,"slug":986,"category":447,"order":987},"1993 巴菲特致股东信","1993-ba-fei-te-zhi-gu-dong-xin",64,{"title":989,"slug":990,"category":452,"order":987},"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":992,"slug":993,"category":447,"order":994},"1994 巴菲特致股东信","1994-ba-fei-te-zhi-gu-dong-xin",65,{"title":996,"slug":997,"category":452,"order":994},"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":999,"slug":1000,"category":447,"order":1001},"1995 巴菲特致股东信","1995-ba-fei-te-zhi-gu-dong-xin",66,{"title":1003,"slug":1004,"category":452,"order":1001},"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":1006,"slug":1007,"category":447,"order":1008},"1996 巴菲特致股东信","1996-ba-fei-te-zhi-gu-dong-xin",67,{"title":1010,"slug":1011,"category":452,"order":1008},"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":1013,"slug":1014,"category":447,"order":1015},"1997 巴菲特致股东信","1997-ba-fei-te-zhi-gu-dong-xin",68,{"title":1017,"slug":1018,"category":452,"order":1015},"巴菲特：2007年巴菲特接见Dardashti","ba-fei-te-2007nian-ba-fei-te-jie-jian-dardashti",{"title":1020,"slug":1021,"category":447,"order":1022},"1998 巴菲特致股东信","1998-ba-fei-te-zhi-gu-dong-xin",69,{"title":1024,"slug":1025,"category":452,"order":1022},"巴菲特：2007年接受央视专访","ba-fei-te-2007nian-jie-shou-yang-shi-zhuan-fang",{"title":1027,"slug":1028,"category":447,"order":1029},"1999 巴菲特致股东信","1999-ba-fei-te-zhi-gu-dong-xin",70,{"title":1031,"slug":1032,"category":452,"order":1029},"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":1034,"slug":1035,"category":447,"order":1036},"2000 巴菲特致股东信","2000-ba-fei-te-zhi-gu-dong-xin",71,{"title":1038,"slug":1039,"category":452,"order":1036},"巴菲特：2007年查理罗斯专访","ba-fei-te-2007nian-cha-li-luo-si-zhuan-fang",{"title":1041,"slug":1042,"category":447,"order":1043},"2001 巴菲特致股东信","2001-ba-fei-te-zhi-gu-dong-xin",72,{"title":1045,"slug":1046,"category":452,"order":1043},"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":1048,"slug":1049,"category":447,"order":1050},"2002 巴菲特致股东信","2002-ba-fei-te-zhi-gu-dong-xin",73,{"title":1052,"slug":1053,"category":452,"order":1050},"巴菲特：2008年买入美国正当时","ba-fei-te-2008nian-mai-ru-mei-guo-zheng-dang-shi",{"title":1055,"slug":1056,"category":447,"order":1057},"2003 巴菲特致股东信","2003-ba-fei-te-zhi-gu-dong-xin",74,{"title":1059,"slug":1060,"category":452,"order":1057},"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":1062,"slug":1063,"category":447,"order":1064},"2004 巴菲特致股东信","2004-ba-fei-te-zhi-gu-dong-xin",75,{"title":1066,"slug":1067,"category":452,"order":1064},"巴菲特：2008年对话商学院学生","ba-fei-te-2008nian-dui-hua-shang-xue-yuan-xue-sheng",{"title":1069,"slug":1070,"category":447,"order":1071},"2005 巴菲特致股东信","2005-ba-fei-te-zhi-gu-dong-xin",76,{"title":1073,"slug":1074,"category":452,"order":1071},"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":1076,"slug":1077,"category":447,"order":1078},"2006 巴菲特致股东信","2006-ba-fei-te-zhi-gu-dong-xin",77,{"title":1080,"slug":1081,"category":452,"order":1078},"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":1083,"slug":1084,"category":447,"order":1085},"2007 巴菲特致股东信","2007-ba-fei-te-zhi-gu-dong-xin",78,{"title":1087,"slug":1088,"category":452,"order":1085},"巴菲特：2008年给保尔森的信","ba-fei-te-2008nian-gei-bao-er-sen-de-xin",{"title":1090,"slug":1091,"category":447,"order":1092},"2008 巴菲特致股东信","2008-ba-fei-te-zhi-gu-dong-xin",79,{"title":1094,"slug":1095,"category":452,"order":1092},"巴菲特：2008年解析经济危机","ba-fei-te-2008nian-jie-xi-jing-ji-wei-ji",{"title":1097,"slug":1098,"category":447,"order":1099},"2009 巴菲特致股东信","2009-ba-fei-te-zhi-gu-dong-xin",80,{"title":1101,"slug":1102,"category":452,"order":1099},"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":1104,"slug":1105,"category":447,"order":1106},"2010 巴菲特致股东信","2010-ba-fei-te-zhi-gu-dong-xin",81,{"title":1108,"slug":1109,"category":452,"order":1106},"巴菲特：2009年CNBC 专访","ba-fei-te-2009nian-cnbc-zhuan-fang",{"title":1111,"slug":1112,"category":447,"order":1113},"2011 巴菲特致股东信","2011-ba-fei-te-zhi-gu-dong-xin",82,{"title":1115,"slug":1116,"category":452,"order":1113},"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":1118,"slug":1119,"category":447,"order":1120},"2012 巴菲特致股东信","2012-ba-fei-te-zhi-gu-dong-xin",83,{"title":1122,"slug":1123,"category":452,"order":1120},"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":1125,"slug":1126,"category":447,"order":1127},"2013 巴菲特致股东信","2013-ba-fei-te-zhi-gu-dong-xin",84,{"title":1129,"slug":1130,"category":452,"order":1127},"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":1132,"slug":1133,"category":447,"order":1134},"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":1136,"slug":1137,"category":452,"order":1134},"巴菲特：2009年收购BNSF 铁路","ba-fei-te-2009nian-shou-gou-bnsf-tie-lu",{"title":1139,"slug":1140,"category":447,"order":1141},"2014 副董事长的思考","2014-fu-dong-shi-chang-de-si-kao",86,{"title":1143,"slug":1144,"category":452,"order":1141},"巴菲特：2009年美元效应","ba-fei-te-2009nian-mei-yuan-xiao-ying",{"title":1146,"slug":1147,"category":447,"order":1148},"2014 巴菲特致股东信","2014-ba-fei-te-zhi-gu-dong-xin",87,{"title":1150,"slug":1151,"category":452,"order":1148},"教学方法期刊","ba-fei-te-2009nian-a-ke-lun-da-xue-shang-xue-yuan-wen-da-shi-lu",{"title":1153,"slug":1154,"category":447,"order":1155},"2015 巴菲特致股东信","2015-ba-fei-te-zhi-gu-dong-xin",88,{"title":1157,"slug":1158,"category":452,"order":1155},"巴菲特：2010年\"捐赠誓言\"计划","ba-fei-te-2010nian-juan-zeng-shi-yan-ji-hua",{"title":1160,"slug":1161,"category":447,"order":1162},"2016 巴菲特致股东信","2016-ba-fei-te-zhi-gu-dong-xin",89,{"title":1164,"slug":1165,"category":452,"order":1162},"巴菲特：2010年CNBC 专访","ba-fei-te-2010nian-cnbc-zhuan-fang",{"title":1167,"slug":1168,"category":447,"order":1169},"2017 巴菲特致股东信","2017-ba-fei-te-zhi-gu-dong-xin",90,{"title":1171,"slug":1172,"category":452,"order":1169},"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":1174,"slug":1175,"category":447,"order":1176},"2018 巴菲特致股东信","2018-ba-fei-te-zhi-gu-dong-xin",91,{"title":1178,"slug":1179,"category":452,"order":1176},"巴菲特：2010年央视财经采访","ba-fei-te-2010nian-yang-shi-cai-jing-cai-fang",{"title":1181,"slug":1182,"category":447,"order":1183},"2019 巴菲特致股东信","2019-ba-fei-te-zhi-gu-dong-xin",92,{"title":1185,"slug":1186,"category":452,"order":1183},"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":1188,"slug":1189,"category":447,"order":1190},"2020 巴菲特致股东信","2020-ba-fei-te-zhi-gu-dong-xin",93,{"title":1192,"slug":1193,"category":452,"order":1190},"巴菲特：2010年慈善中国行","ba-fei-te-2010nian-ci-shan-zhong-guo-xing",{"title":1195,"slug":1196,"category":447,"order":1197},"2021 巴菲特致股东信","2021-ba-fei-te-zhi-gu-dong-xin",94,{"title":1199,"slug":1200,"category":452,"order":1197},"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":1202,"slug":1203,"category":447,"order":1204},"2022 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