[{"data":1,"prerenderedAt":1710},["ShallowReactive",2],{"library-ba-fei-te-2014nian-tan-ke-kou-ke-le-xin-chou-fang-an":3,"library-sidebar-buffett":173,"library-sidebar-dao":1176,"library-sidebar-models":1478},{"id":4,"title":5,"body":6,"category":159,"date":160,"description":161,"extension":162,"meta":163,"navigation":164,"order":165,"path":166,"seo":167,"seoDescription":161,"seoTitle":168,"slug":169,"stem":170,"__hash__":171,"_collection":172},"buffett\u002Fbuffett\u002Finterview\u002Fba-fei-te-2014nian-tan-ke-kou-ke-le-xin-chou-fang-an.md","巴菲特：2014年谈可口可乐薪酬方案",{"type":7,"value":8,"toc":154},"minimark",[9,13,18,22,25,28,31,34,37,40,43,46,49,52,55,58,61,64,67,70,73,76,79,82,85,88,91,94,97,100,103,106,109,112,115,118,121,124,127,130,133,136,139,142,145,148,151],[10,11,5],"h1",{"id":12},"巴菲特2014年谈可口可乐薪酬方案",[14,15,17],"h2",{"id":16},"巴菲特谈可口可乐薪酬方案","巴菲特：谈可口可乐薪酬方案",[19,20,21],"p",{},"2014 年4 月28 日",[19,23,24],{},"上周，巴菲特拒绝投票反对一项有争议的可口可乐高管股票期权计划，他认为该计划太过分了。这引发了对这位传奇投资家兼伯克希尔CEO 的批评浪潮，他通常是媒体的宠儿。《纽约时报》专栏作家JoeNocera 称巴菲特是个懦夫。可口可乐投票后不久，巴菲特接受了《财富》杂志的采访，为自己辩护。尽管受到批评，但巴菲特说，他认为自己对可口可乐的薪酬方案采取了强硬立场。更重要的是，他说自己没有什么权力阻止公司发放过高的薪酬。与几年前相比，这发生了巨大的变化，当时巴菲特写道，只有像他这样的大股东，才能扭转美国公司高管薪酬失控的局面。显然，巴菲特和其他像他一样的人也被打败了。",[19,26,27],{},"财富：您认为高管薪酬与美国其他职业的薪酬不符吗？",[19,29,30],{},"巴菲特：嗯，我认为这与一位杰出管理者所能带来的价值并不相悖。如果你经营的是一家市值数十亿美元的公司，就价值而言，10 分和8 分之间的差距是巨大的。相比娱乐明星或体育明星来说，我并不认这些数字是过分的。尽管如此，我认为在某些情况下，几乎是在自愿的基础上，高管薪酬应该有所节制。",[19,32,33],{},"财富：过去，你曾说高管股票期权计划是\"一张免费的彩票\"，\"只有在少数的情况下才是公平的\"，是为\"想打瞌睡的经理人Rip Van Winkles\"制定的薪酬计划。(小说主人公Rip Van Winkles 为躲避凶悍妻子，去山上打猎时喝了仙酒一睡就是20 年，回乡后物是人非，妻子去世，孩子和狗都不认识他了。)",[19,35,36],{},"巴菲特：所有这些都可能是真的。",[19,38,39],{},"财富：2006 年，你曾说过，改变过高的高管薪酬唯一方法就是，像你这样的大股东站出来要求推倒重来。你为什么没有投票反对可口可乐的期权计划？",[19,41,42],{},"巴菲特：我们确实投了弃权票。这是来自伯克希尔非常响亮的声音。这显然意味着我们不赞成该计划。",[19,44,45],{},"财富：为什么不对董事也投弃权票呢？",[19,47,48],{},"巴菲特：因为实际上我认为他们有一群好董事。他们做了太多的薪酬计划，别的公司都是这么干的，所以我们也无法免俗。这些公司不会想到从根本上重新审视整个薪酬计划的合理性，也不太可能想得到，他们的顾问也不可能建议他们这样去做。",[19,50,51],{},"财富：公司利用股票期权所做的事情就是将高管薪酬资本化。多年以后，这笔费用将由股东来支付。",[19,53,54],{},"巴菲特：实际上，我已经给伯克希尔公司董事会写了一份备忘录，我可能会写进明年的年报中，我认为对于接替我的伯克希尔CEO 来说，应该有一个合理的期权计划。在这种情况下，他将是目前唯一一个获得期权的人，因为他是唯一一个对公司整体运营的成功负责任的人。",[19,56,57],{},"财富：可口可乐为其薪酬计划辩护的理由之一是，该计划不仅适用于高管人员，也适用于6500 名员工。但你不认为这是一种辩护理由。",[19,59,60],{},"巴菲特：不，我不认为这是一种辩护。",[19,62,63],{},"财富：再说回RipVanWinkle 的CEO 们，根据可口可乐的薪酬计划，公司的回报率每年可能会下降10%，而高管们仍然有资格获得数十亿美元？",[19,65,66],{},"巴菲特：期权是时间的版税。",[19,68,69],{},"财富：您读过关于不平等问题的新书，Thomas Piketty 的《21 世纪资本论》吗？",[19,71,72],{},"巴菲特：我读过大约六篇关于它的书评。但不是这本书。",[19,74,75],{},"财富：你打算读这本书吗？",[19,77,78],{},"巴菲特：我不知道。我读过很多书评，我想我知道书中写了什么。我可能会读，也可能不会读，但这是我有理由读的一本书。",[19,80,81],{},"财富：《纽约时报》最近根据一项研究称，你已经失去了你的阿尔法。你还记得你最后一次看到投资机会是在什么地方吗？如果我发现了，我可以抄作业吗？",[19,83,84],{},"巴菲特：丢了我的什么？",[19,86,87],{},"财富：失去了阿尔法。也就是你超越市场的能力。",[19,89,90],{},"巴菲特：是的，但我想有些跟踪我们的人对此作出了回应，那不是我写的。但我们会找到投资机会的。",[19,92,93],{},"财富：David Witt 是美国中部一个温和的会计师，也是伯克希尔的股东，他想得到一定的分红。但你为什么不同意分红呢？",[19,95,96],{},"巴菲特：我在年报中写过一篇关于分红和回购的长文。那是一年前的事了。我详细解释了为什么我认为不分红对他更好。我们正在进行投票，你会发现股东们对此的看法很有意思。",[19,98,99],{},"财富：为什么你喜欢交个人税，却讨厌交公司税？",[19,101,102],{},"巴菲特：我不会多交一毛钱的个人税，也不会多交一毛钱的公司税。这很简单。就拿我自己来说，我曾表示愿意为任何参议员自愿缴纳的税款提供等额支持，我还表示愿意为共和党参议员领袖Mitch McConnell 自愿缴纳的税款提供三倍支持，但他们从未接受我的建议。",[19,104,105],{},"实际上，如果你仔细看一下，伯克希尔的税率是相当高的。但如果能降低的话，我会让它更低。只要法律允许，我都会努力降低伯克希尔的税率。例如，在风能方面，如果我们建造了大量风力发电场，就可以获得税收减免。这是建造风力发电厂的唯一理由。如果没有税收减免，建造它们就没有意义。",[19,107,108],{},"财富：在今年的股东信中，您谈到了公共养老金计划日益严重的问题。您认为解决办法是什么？",[19,110,111],{},"巴菲特：解决办法是要么改变承诺，要么增加税收。但问题是，对于任何一位政客来说，他只能在位一两",[19,113,114],{},"年。他最好的解决办法就是什么都不做，因为他会离职的。而且，这个问题也不是那种，你明天一觉醒来就会导致电灯熄灭或街道没有铲雪的问题。这是世界上最容易推迟的问题。在奥马哈，我不想改变对在公共场所工作的人们所做的承诺。因此，我认为我们或许应该征收更多的税。但这在很多城市或州都行不通。相对于税基而言，问题太大了。底特律的税收不足以支付承诺的养老金。他们已经走得太远了。",[19,116,117],{},"财富：你认为我们应该做些什么？或者我们应该做点什么，来解决美国就业机会的外包，以及美国公司对其生产并销售给美国人的商品不纳税？",[19,119,120],{},"巴菲特：由于某些国家的税率太低，这种情况已经到了不可收拾的地步。有一些公司，特别是在处理知识产权的时候，你可以编造理由，说你的收入是在爱尔兰或百慕大或诸如此类的地方产生的，而实际上这些收入在很大程度上来源于这里。这些公司在海外积累了大量现金余额，然后他们会说，给我们一段免税期，我们就把钱拿回来。但是，一旦他们发现自己可以逍遥法外，这当然会诱使他们在海外做更多的事情。这是一个疯狂的情况，但它已经发展了很多年。税法中的这一部分确实需要认真研究一下。",[19,122,123],{},"财富：在去年的年会上，您说您对美联储退出量化宽松政策和货币刺激政策感到担忧。您认为美联储退出量化宽松政策后的情况会如何，您是否仍然担心可能发生的情况？",[19,125,126],{},"巴菲特：嗯，我说过这是一部非常有趣的电影，因为赌注很大，而且我们不知道结局。",[19,128,129],{},"但我认为情况仍然如此。但到目前为止，我们还没有看到与此相关的任何大问题。",[19,131,132],{},"财富：那么，你对结束量化宽松的结束不那么担忧了吗？",[19,134,135],{},"巴菲特：不，这仍然是一部有趣的电影。我不知道结果会怎样，所以我觉得它很有趣。",[19,137,138],{},"财富：谢谢。",[19,140,141],{},"2014 年，可口可乐向美国SEC 提交的文件中显示，可口可乐的股权激励计划于2 月19 日由可口可乐薪酬委员会向董事会提出，这一计划的目的是为了将职工、高管和董事会成员的个人权益与公司股东的权益结合起来。该计划将留存5 亿股用于股权激励。业绩逊于预期却提出丰厚股权激励引发部分股东不满，早在2014 年的股权激励计划之前，2012-2013 年，可口可乐公司还先后发放了6000 万、6300 万和7300 万股用于股权激励，如果包括这部分股份，总股本将扩大到52 亿股。按照可口可乐目前近1800 亿美元的市值粗略计算，发放全部股权激励计划后，股价将为每股34 美元左右，较目前的每股40 美元将将稀释约13%。美国一名律师指责传奇投资人巴菲特在对可口可乐的管理层股权激励计划投票时，未能尽到大股东应尽的义务。巴菲特近日在接受媒体采访时表示，可口可乐公司的高管股票奖励方案\"过于庞大\"，并对该薪酬方案投了弃权票。巴菲特表示，这是他记忆中第一次对可口可乐投弃权票，但由于不想对可口可乐管理层造成过大的压力，他没有投反对票。此前，可口可乐公司通过了 2014 年的130 亿美元高管股票奖励方案，以对冲基金Wintergreen Advisers 创始人特斯为首的股东强烈反对。特斯认为，这项方案将在很大程度上摊薄现有股东所持有的可口可乐股票。",[19,143,144],{},"Carol Loomis：巴菲特先生，可口可乐公司有一个过度的薪酬计划，但你没有在股东大会之前告诉投资者。",[19,146,147],{},"如果你在会议之前就将其披露，我们的投票也许会有所不同。你投了弃权票，必定有其原因。你怎么会作出这种非巴菲特式的行为呢？",[19,149,150],{},"巴菲特：一些人觉得这很奇怪，其实非巴菲特式的行为，并无任何不同。一位反对可口可乐期权方案的股东提出了这个建议。他对稀释股权的计算很疯狂，我们不介意讨论一下。但我的确与Muhktar Kent(可口可乐公司CEO)讨论过，我告诉他我们会投弃权票。我说我很尊敬可口可乐，但贵公司的薪酬计划有些过度。我们随即宣布投了弃权票，并就此作出了解释。我认为这是代表伯克希尔选择的最有效的途径。关于可口可乐薪酬计划的过度性质，我们作出了一个非常清晰的声明，但没有因此向可口可乐公司\"宣战\"。我们既不认同不准确的计算结果，也不加入与我没有互动的某人的行动。如果你要发起战争，你必须知道盟友是谁。我认为通过投弃权票，我们获得了最好的结果。",[152,153],"hr",{},{"title":155,"searchDepth":156,"depth":156,"links":157},"",2,[158],{"id":16,"depth":156,"text":17},"访谈与文章",null,"巴菲特解释其拒绝投票反对可口可乐高管股票期权计划的原因，引发媒体批评，阐述其公司治理理念。","md",{},true,113,"\u002Fbuffett\u002Finterview\u002Fba-fei-te-2014nian-tan-ke-kou-ke-le-xin-chou-fang-an",{"title":5,"description":161},"巴菲特：2014年谈可口可乐薪酬方案｜巴菲特","ba-fei-te-2014nian-tan-ke-kou-ke-le-xin-chou-fang-an","buffett\u002Finterview\u002Fba-fei-te-2014nian-tan-ke-kou-ke-le-xin-chou-fang-an","_Myej9bvK-9rjVKDr-VWGmjZGiKvvFikUcEWo88w42k","buffett",[174,179,182,186,189,192,195,199,202,205,209,212,215,219,222,225,229,232,235,239,242,245,249,252,255,259,262,265,269,272,275,279,282,285,289,292,295,299,302,305,309,312,315,319,322,325,329,332,335,339,342,345,349,352,355,360,363,366,370,373,376,380,383,386,390,393,396,400,403,406,410,413,416,420,423,426,430,433,436,440,443,446,450,453,456,460,463,466,470,473,476,480,483,486,490,493,496,500,503,506,510,513,517,520,524,527,531,534,538,541,545,548,552,555,559,562,566,569,573,576,580,583,587,590,594,597,601,604,608,611,615,618,622,625,629,632,636,639,643,646,650,653,657,660,664,667,671,674,678,681,685,688,692,695,699,702,706,709,713,716,720,723,727,730,734,737,741,744,748,751,755,758,762,765,769,772,776,779,783,786,790,793,797,800,804,807,811,814,818,821,825,828,832,835,839,842,846,849,853,856,860,863,867,870,874,877,881,884,888,891,895,898,902,905,909,912,916,919,923,926,930,933,937,940,944,947,951,954,958,961,965,968,972,975,979,983,987,991,995,999,1003,1007,1011,1015,1019,1023,1024,1028,1032,1036,1040,1044,1048,1052,1056,1060,1064,1068,1072,1076,1080,1084,1088,1092,1096,1100,1104,1108,1112,1116,1120,1124,1128,1132,1136,1140,1144,1148,1152,1156,1160,1164,1168,1172],{"title":175,"slug":176,"category":177,"order":178},"1956 有限合伙协议","1956-you-xian-he-huo-xie-yi","致合伙人信",1,{"title":180,"slug":181,"category":159,"order":178},"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":183,"slug":184,"category":185,"order":178},"1994年伯克希尔股东大会","1994nian-bo-ke-xi-er-gu-dong-da-hui","股东大会",{"title":187,"slug":188,"category":177,"order":156},"1957 巴菲特致合伙人信","1957-ba-fei-te-zhi-he-huo-ren-xin",{"title":190,"slug":191,"category":159,"order":156},"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":193,"slug":194,"category":185,"order":156},"1995年伯克希尔股东大会","1995nian-bo-ke-xi-er-gu-dong-da-hui",{"title":196,"slug":197,"category":177,"order":198},"1958 巴菲特致合伙人信","1958-ba-fei-te-zhi-he-huo-ren-xin",3,{"title":200,"slug":201,"category":159,"order":198},"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":203,"slug":204,"category":185,"order":198},"1996年伯克希尔股东大会","1996nian-bo-ke-xi-er-gu-dong-da-hui",{"title":206,"slug":207,"category":177,"order":208},"1959 巴菲特致合伙人信","1959-ba-fei-te-zhi-he-huo-ren-xin",4,{"title":210,"slug":211,"category":159,"order":208},"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":213,"slug":214,"category":185,"order":208},"1997年伯克希尔股东大会","1997nian-bo-ke-xi-er-gu-dong-da-hui",{"title":216,"slug":217,"category":177,"order":218},"1960 巴菲特致合伙人信","1960-ba-fei-te-zhi-he-huo-ren-xin",5,{"title":220,"slug":221,"category":159,"order":218},"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":223,"slug":224,"category":185,"order":218},"1998年伯克希尔股东大会","1998nian-bo-ke-xi-er-gu-dong-da-hui",{"title":226,"slug":227,"category":177,"order":228},"1961 巴菲特致合伙人信","1961-ba-fei-te-zhi-he-huo-ren-xin",6,{"title":230,"slug":231,"category":159,"order":228},"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":233,"slug":234,"category":185,"order":228},"1999年伯克希尔股东大会","1999nian-bo-ke-xi-er-gu-dong-da-hui",{"title":236,"slug":237,"category":177,"order":238},"1961年中 巴菲特致合伙人信","1961nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",7,{"title":240,"slug":241,"category":159,"order":238},"巴菲特：1976年巴菲特谈GEICO","ba-fei-te-1976nian-ba-fei-te-tan-geico",{"title":243,"slug":244,"category":185,"order":238},"2000年伯克希尔股东大会","2000nian-bo-ke-xi-er-gu-dong-da-hui",{"title":246,"slug":247,"category":177,"order":248},"1962 巴菲特致合伙人信","1962-ba-fei-te-zhi-he-huo-ren-xin",8,{"title":250,"slug":251,"category":159,"order":248},"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":253,"slug":254,"category":185,"order":248},"2001年伯克希尔股东大会","2001nian-bo-ke-xi-er-gu-dong-da-hui",{"title":256,"slug":257,"category":177,"order":258},"1962年11月 巴菲特致合伙人信","1962nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",9,{"title":260,"slug":261,"category":159,"order":258},"巴菲特：1977年谈通货膨胀","ba-fei-te-1977nian-tan-tong-huo-peng-zhang",{"title":263,"slug":264,"category":185,"order":258},"2002年伯克希尔股东大会","2002nian-bo-ke-xi-er-gu-dong-da-hui",{"title":266,"slug":267,"category":177,"order":268},"1962年12月 巴菲特致合伙人信","1962nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",10,{"title":270,"slug":271,"category":159,"order":268},"巴菲特：1979年谈股市","ba-fei-te-1979nian-tan-gu-shi",{"title":273,"slug":274,"category":185,"order":268},"2003年伯克希尔股东大会","2003nian-bo-ke-xi-er-gu-dong-da-hui",{"title":276,"slug":277,"category":177,"order":278},"1962年中 巴菲特致合伙人信","1962nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",11,{"title":280,"slug":281,"category":159,"order":278},"巴菲特：1982年谈指数期货","ba-fei-te-1982nian-tan-zhi-shu-qi-huo",{"title":283,"slug":284,"category":185,"order":278},"2004年伯克希尔股东大会","2004nian-bo-ke-xi-er-gu-dong-da-hui",{"title":286,"slug":287,"category":177,"order":288},"1963 巴菲特致合伙人信","1963-ba-fei-te-zhi-he-huo-ren-xin",12,{"title":290,"slug":291,"category":159,"order":288},"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":293,"slug":294,"category":185,"order":288},"2005年伯克希尔股东大会","2005nian-bo-ke-xi-er-gu-dong-da-hui",{"title":296,"slug":297,"category":177,"order":298},"1963年11月 巴菲特致合伙人信","1963nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",13,{"title":300,"slug":301,"category":159,"order":298},"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":303,"slug":304,"category":185,"order":298},"2006年伯克希尔股东大会","2006nian-bo-ke-xi-er-gu-dong-da-hui",{"title":306,"slug":307,"category":177,"order":308},"1963年12月 巴菲特致合伙人信","1963nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",14,{"title":310,"slug":311,"category":159,"order":308},"巴菲特：1984年哥大商学院演讲","ba-fei-te-1984nian-ge-da-shang-xue-yuan-yan-jiang",{"title":313,"slug":314,"category":185,"order":308},"2007年伯克希尔股东大会","2007nian-bo-ke-xi-er-gu-dong-da-hui",{"title":316,"slug":317,"category":177,"order":318},"1963年中 巴菲特致合伙人信","1963nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",15,{"title":320,"slug":321,"category":159,"order":318},"巴菲特：1985年谈投资","ba-fei-te-1985nian-tan-tou-zi",{"title":323,"slug":324,"category":185,"order":318},"2008年伯克希尔股东大会","2008nian-bo-ke-xi-er-gu-dong-da-hui",{"title":326,"slug":327,"category":177,"order":328},"1964 巴菲特致合伙人信","1964-ba-fei-te-zhi-he-huo-ren-xin",16,{"title":330,"slug":331,"category":159,"order":328},"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":333,"slug":334,"category":185,"order":328},"2009年伯克希尔股东大会","2009nian-bo-ke-xi-er-gu-dong-da-hui",{"title":336,"slug":337,"category":177,"order":338},"1964年中 巴菲特致合伙人信","1964nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",17,{"title":340,"slug":341,"category":159,"order":338},"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":343,"slug":344,"category":185,"order":338},"2010年伯克希尔股东大会","2010nian-bo-ke-xi-er-gu-dong-da-hui",{"title":346,"slug":347,"category":177,"order":348},"1965 巴菲特致合伙人信","1965-ba-fei-te-zhi-he-huo-ren-xin",18,{"title":350,"slug":351,"category":159,"order":348},"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":353,"slug":354,"category":185,"order":348},"2011年伯克希尔股东大会","2011nian-bo-ke-xi-er-gu-dong-da-hui",{"title":356,"slug":357,"category":358,"order":359},"1965 巴菲特致股东信","1965-ba-fei-te-zhi-gu-dong-xin","致股东信",19,{"title":361,"slug":362,"category":159,"order":359},"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":364,"slug":365,"category":185,"order":359},"2012年伯克希尔股东大会","2012nian-bo-ke-xi-er-gu-dong-da-hui",{"title":367,"slug":368,"category":177,"order":369},"1965年11月 巴菲特致合伙人信","1965nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",20,{"title":371,"slug":372,"category":159,"order":369},"巴菲特：1988年谈投资","ba-fei-te-1988nian-tan-tou-zi",{"title":374,"slug":375,"category":185,"order":369},"2013年伯克希尔股东大会","2013nian-bo-ke-xi-er-gu-dong-da-hui",{"title":377,"slug":378,"category":177,"order":379},"1965年中 巴菲特致合伙人信","1965nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",21,{"title":381,"slug":382,"category":159,"order":379},"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":384,"slug":385,"category":185,"order":379},"2014年伯克希尔股东大会","2014nian-bo-ke-xi-er-gu-dong-da-hui",{"title":387,"slug":388,"category":177,"order":389},"1966 巴菲特致合伙人信","1966-ba-fei-te-zhi-he-huo-ren-xin",22,{"title":391,"slug":392,"category":159,"order":389},"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":394,"slug":395,"category":185,"order":389},"2015年伯克希尔股东大会","2015nian-bo-ke-xi-er-gu-dong-da-hui",{"title":397,"slug":398,"category":358,"order":399},"1966 巴菲特致股东信","1966-ba-fei-te-zhi-gu-dong-xin",23,{"title":401,"slug":402,"category":159,"order":399},"巴菲特：1991年圣母大学演讲","ba-fei-te-1991nian-sheng-mu-da-xue-yan-jiang",{"title":404,"slug":405,"category":185,"order":399},"2016年伯克希尔股东大会","2016nian-bo-ke-xi-er-gu-dong-da-hui",{"title":407,"slug":408,"category":177,"order":409},"1966年11月 巴菲特致合伙人信","1966nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",24,{"title":411,"slug":412,"category":159,"order":409},"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":414,"slug":415,"category":185,"order":409},"2017年伯克希尔股东大会","2017nian-bo-ke-xi-er-gu-dong-da-hui",{"title":417,"slug":418,"category":177,"order":419},"1966年中 巴菲特致合伙人信","1966nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",25,{"title":421,"slug":422,"category":159,"order":419},"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":424,"slug":425,"category":185,"order":419},"2018年伯克希尔股东大会","2018nian-bo-ke-xi-er-gu-dong-da-hui",{"title":427,"slug":428,"category":177,"order":429},"1967 巴菲特致合伙人信","1967-ba-fei-te-zhi-he-huo-ren-xin",26,{"title":431,"slug":432,"category":159,"order":429},"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":434,"slug":435,"category":185,"order":429},"2019年伯克希尔股东大会","2019nian-bo-ke-xi-er-gu-dong-da-hui",{"title":437,"slug":438,"category":358,"order":439},"1967 巴菲特致股东信","1967-ba-fei-te-zhi-gu-dong-xin",27,{"title":441,"slug":442,"category":159,"order":439},"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":444,"slug":445,"category":185,"order":439},"2020年伯克希尔股东大会","2020nian-bo-ke-xi-er-gu-dong-da-hui",{"title":447,"slug":448,"category":177,"order":449},"1967年10月 巴菲特致合伙人信","1967nian-10yue-ba-fei-te-zhi-he-huo-ren-xin",28,{"title":451,"slug":452,"category":159,"order":449},"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":454,"slug":455,"category":185,"order":449},"2021年伯克希尔股东大会","2021nian-bo-ke-xi-er-gu-dong-da-hui",{"title":457,"slug":458,"category":177,"order":459},"1967年11月 巴菲特致合伙人信","1967nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",29,{"title":461,"slug":462,"category":159,"order":459},"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":464,"slug":465,"category":185,"order":459},"2022年伯克希尔股东大会","2022nian-bo-ke-xi-er-gu-dong-da-hui",{"title":467,"slug":468,"category":177,"order":469},"1967年中 巴菲特致合伙人信","1967nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",30,{"title":471,"slug":472,"category":159,"order":469},"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":474,"slug":475,"category":185,"order":469},"2023年伯克希尔股东大会","2023nian-bo-ke-xi-er-gu-dong-da-hui",{"title":477,"slug":478,"category":177,"order":479},"1968 巴菲特致合伙人信","1968-ba-fei-te-zhi-he-huo-ren-xin",31,{"title":481,"slug":482,"category":159,"order":479},"巴菲特：1998年华盛顿大学谈话","ba-fei-te-1998nian-hua-sheng-dun-da-xue-tan-hua",{"title":484,"slug":485,"category":185,"order":479},"2024年伯克希尔股东大会","2024nian-bo-ke-xi-er-gu-dong-da-hui",{"title":487,"slug":488,"category":358,"order":489},"1968 巴菲特致股东信","1968-ba-fei-te-zhi-gu-dong-xin",32,{"title":491,"slug":492,"category":159,"order":489},"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":494,"slug":495,"category":185,"order":489},"2025年伯克希尔股东大会","2025nian-bo-ke-xi-er-gu-dong-da-hui",{"title":497,"slug":498,"category":177,"order":499},"1968年11月 巴菲特致合伙人信","1968nian-11yue-ba-fei-te-zhi-he-huo-ren-xin",33,{"title":501,"slug":502,"category":159,"order":499},"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":504,"slug":505,"category":185,"order":499},"2026年伯克希尔股东大会","2026nian-bo-ke-xi-er-gu-dong-da-hui",{"title":507,"slug":508,"category":177,"order":509},"1968年中 巴菲特致合伙人信","1968nian-zhong-ba-fei-te-zhi-he-huo-ren-xin",34,{"title":511,"slug":512,"category":159,"order":509},"巴菲特：1999年巴菲特谈股市","ba-fei-te-1999nian-ba-fei-te-tan-gu-shi",{"title":514,"slug":515,"category":358,"order":516},"1969 巴菲特致股东信","1969-ba-fei-te-zhi-gu-dong-xin",35,{"title":518,"slug":519,"category":159,"order":516},"巴菲特：2001年佐治亚大学演讲","ba-fei-te-2001nian-zuo-zhi-ya-da-xue-yan-jiang",{"title":521,"slug":522,"category":177,"order":523},"1969年10月 巴菲特致合伙人信","1969nian-10yue-ba-fei-te-zhi-he-huo-ren-xin",36,{"title":525,"slug":526,"category":159,"order":523},"巴菲特：2001年保险业的FDIC","ba-fei-te-2001nian-bao-xian-ye-de-fdic",{"title":528,"slug":529,"category":177,"order":530},"1969年12月 巴菲特致合伙人信","1969nian-12yue-ba-fei-te-zhi-he-huo-ren-xin",37,{"title":532,"slug":533,"category":159,"order":530},"巴菲特：2001年对话内大商学院","ba-fei-te-2001nian-dui-hua-nei-da-shang-xue-yuan",{"title":535,"slug":536,"category":177,"order":537},"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":539,"slug":540,"category":159,"order":537},"巴菲特：2001年巴菲特谈股市","ba-fei-te-2001nian-ba-fei-te-tan-gu-shi",{"title":542,"slug":543,"category":177,"order":544},"1969年5月 巴菲特致合伙人信","1969nian-5yue-ba-fei-te-zhi-he-huo-ren-xin",39,{"title":546,"slug":547,"category":159,"order":544},"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":549,"slug":550,"category":358,"order":551},"1970 巴菲特致股东信","1970-ba-fei-te-zhi-gu-dong-xin",40,{"title":553,"slug":554,"category":159,"order":551},"巴菲特：2002年哥大商学院演讲","ba-fei-te-2002nian-ge-da-shang-xue-yuan-yan-jiang",{"title":556,"slug":557,"category":177,"order":558},"1970年2月 巴菲特致合伙人信","1970nian-2yue-ba-fei-te-zhi-he-huo-ren-xin",41,{"title":560,"slug":561,"category":159,"order":558},"巴菲特：2002年股票期权与常识","ba-fei-te-2002nian-gu-piao-qi-quan-yu-chang-shi",{"title":563,"slug":564,"category":358,"order":565},"1971 巴菲特致股东信","1971-ba-fei-te-zhi-gu-dong-xin",42,{"title":567,"slug":568,"category":159,"order":565},"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":570,"slug":571,"category":358,"order":572},"1972 巴菲特致股东信","1972-ba-fei-te-zhi-gu-dong-xin",43,{"title":574,"slug":575,"category":159,"order":572},"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":577,"slug":578,"category":358,"order":579},"1973 巴菲特致股东信","1973-ba-fei-te-zhi-gu-dong-xin",44,{"title":581,"slug":582,"category":159,"order":579},"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":584,"slug":585,"category":358,"order":586},"1974 巴菲特致股东信","1974-ba-fei-te-zhi-gu-dong-xin",45,{"title":588,"slug":589,"category":159,"order":586},"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":591,"slug":592,"category":358,"order":593},"1975 巴菲特致股东信","1975-ba-fei-te-zhi-gu-dong-xin",46,{"title":595,"slug":596,"category":159,"order":593},"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":598,"slug":599,"category":358,"order":600},"1976 巴菲特致股东信","1976-ba-fei-te-zhi-gu-dong-xin",47,{"title":602,"slug":603,"category":159,"order":600},"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":605,"slug":606,"category":358,"order":607},"1977 巴菲特致股东信","1977-ba-fei-te-zhi-gu-dong-xin",48,{"title":609,"slug":610,"category":159,"order":607},"巴菲特：2003年沃伦在担心什么","ba-fei-te-2003nian-wo-lun-zai-dan-xin-shi-me",{"title":612,"slug":613,"category":358,"order":614},"1978 巴菲特致股东信","1978-ba-fei-te-zhi-gu-dong-xin",49,{"title":616,"slug":617,"category":159,"order":614},"巴菲特：2003年股息巫术","ba-fei-te-2003nian-gu-xi-wu-shu",{"title":619,"slug":620,"category":358,"order":621},"1979 巴菲特致股东信","1979-ba-fei-te-zhi-gu-dong-xin",50,{"title":623,"slug":624,"category":159,"order":621},"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":626,"slug":627,"category":358,"order":628},"1980 巴菲特致股东信","1980-ba-fei-te-zhi-gu-dong-xin",51,{"title":630,"slug":631,"category":159,"order":628},"巴菲特：2004年专访苏珊·巴菲特","ba-fei-te-2004nian-zhuan-fang-su-shan-ba-fei-te",{"title":633,"slug":634,"category":358,"order":635},"1981 巴菲特致股东信","1981-ba-fei-te-zhi-gu-dong-xin",52,{"title":637,"slug":638,"category":159,"order":635},"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":640,"slug":641,"category":358,"order":642},"1982 巴菲特致股东信","1982-ba-fei-te-zhi-gu-dong-xin",53,{"title":644,"slug":645,"category":159,"order":642},"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":647,"slug":648,"category":358,"order":649},"1983 巴菲特致股东信","1983-ba-fei-te-zhi-gu-dong-xin",54,{"title":651,"slug":652,"category":159,"order":649},"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":654,"slug":655,"category":358,"order":656},"1984 巴菲特致股东信","1984-ba-fei-te-zhi-gu-dong-xin",55,{"title":658,"slug":659,"category":159,"order":656},"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":661,"slug":662,"category":358,"order":663},"1985 巴菲特致股东信","1985-ba-fei-te-zhi-gu-dong-xin",56,{"title":665,"slug":666,"category":159,"order":663},"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":668,"slug":669,"category":358,"order":670},"1986 巴菲特致股东信","1986-ba-fei-te-zhi-gu-dong-xin",57,{"title":672,"slug":673,"category":159,"order":670},"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":675,"slug":676,"category":358,"order":677},"1987 巴菲特致股东信","1987-ba-fei-te-zhi-gu-dong-xin",58,{"title":679,"slug":680,"category":159,"order":677},"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":682,"slug":683,"category":358,"order":684},"1988 巴菲特致股东信","1988-ba-fei-te-zhi-gu-dong-xin",59,{"title":686,"slug":687,"category":159,"order":684},"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":689,"slug":690,"category":358,"order":691},"1989 巴菲特致股东信","1989-ba-fei-te-zhi-gu-dong-xin",60,{"title":693,"slug":694,"category":159,"order":691},"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":696,"slug":697,"category":358,"order":698},"1990 巴菲特致股东信","1990-ba-fei-te-zhi-gu-dong-xin",61,{"title":700,"slug":701,"category":159,"order":698},"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":703,"slug":704,"category":358,"order":705},"1991 巴菲特致股东信","1991-ba-fei-te-zhi-gu-dong-xin",62,{"title":707,"slug":708,"category":159,"order":705},"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":710,"slug":711,"category":358,"order":712},"1992 巴菲特致股东信","1992-ba-fei-te-zhi-gu-dong-xin",63,{"title":714,"slug":715,"category":159,"order":712},"巴菲特：2006年慈善捐赠承诺","ba-fei-te-2006nian-ci-shan-juan-zeng-cheng-nuo",{"title":717,"slug":718,"category":358,"order":719},"1993 巴菲特致股东信","1993-ba-fei-te-zhi-gu-dong-xin",64,{"title":721,"slug":722,"category":159,"order":719},"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":724,"slug":725,"category":358,"order":726},"1994 巴菲特致股东信","1994-ba-fei-te-zhi-gu-dong-xin",65,{"title":728,"slug":729,"category":159,"order":726},"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":731,"slug":732,"category":358,"order":733},"1995 巴菲特致股东信","1995-ba-fei-te-zhi-gu-dong-xin",66,{"title":735,"slug":736,"category":159,"order":733},"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":738,"slug":739,"category":358,"order":740},"1996 巴菲特致股东信","1996-ba-fei-te-zhi-gu-dong-xin",67,{"title":742,"slug":743,"category":159,"order":740},"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":745,"slug":746,"category":358,"order":747},"1997 巴菲特致股东信","1997-ba-fei-te-zhi-gu-dong-xin",68,{"title":749,"slug":750,"category":159,"order":747},"巴菲特：2007年巴菲特接见Dardashti","ba-fei-te-2007nian-ba-fei-te-jie-jian-dardashti",{"title":752,"slug":753,"category":358,"order":754},"1998 巴菲特致股东信","1998-ba-fei-te-zhi-gu-dong-xin",69,{"title":756,"slug":757,"category":159,"order":754},"巴菲特：2007年接受央视专访","ba-fei-te-2007nian-jie-shou-yang-shi-zhuan-fang",{"title":759,"slug":760,"category":358,"order":761},"1999 巴菲特致股东信","1999-ba-fei-te-zhi-gu-dong-xin",70,{"title":763,"slug":764,"category":159,"order":761},"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":766,"slug":767,"category":358,"order":768},"2000 巴菲特致股东信","2000-ba-fei-te-zhi-gu-dong-xin",71,{"title":770,"slug":771,"category":159,"order":768},"巴菲特：2007年查理罗斯专访","ba-fei-te-2007nian-cha-li-luo-si-zhuan-fang",{"title":773,"slug":774,"category":358,"order":775},"2001 巴菲特致股东信","2001-ba-fei-te-zhi-gu-dong-xin",72,{"title":777,"slug":778,"category":159,"order":775},"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":780,"slug":781,"category":358,"order":782},"2002 巴菲特致股东信","2002-ba-fei-te-zhi-gu-dong-xin",73,{"title":784,"slug":785,"category":159,"order":782},"巴菲特：2008年买入美国正当时","ba-fei-te-2008nian-mai-ru-mei-guo-zheng-dang-shi",{"title":787,"slug":788,"category":358,"order":789},"2003 巴菲特致股东信","2003-ba-fei-te-zhi-gu-dong-xin",74,{"title":791,"slug":792,"category":159,"order":789},"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":794,"slug":795,"category":358,"order":796},"2004 巴菲特致股东信","2004-ba-fei-te-zhi-gu-dong-xin",75,{"title":798,"slug":799,"category":159,"order":796},"巴菲特：2008年对话商学院学生","ba-fei-te-2008nian-dui-hua-shang-xue-yuan-xue-sheng",{"title":801,"slug":802,"category":358,"order":803},"2005 巴菲特致股东信","2005-ba-fei-te-zhi-gu-dong-xin",76,{"title":805,"slug":806,"category":159,"order":803},"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":808,"slug":809,"category":358,"order":810},"2006 巴菲特致股东信","2006-ba-fei-te-zhi-gu-dong-xin",77,{"title":812,"slug":813,"category":159,"order":810},"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":815,"slug":816,"category":358,"order":817},"2007 巴菲特致股东信","2007-ba-fei-te-zhi-gu-dong-xin",78,{"title":819,"slug":820,"category":159,"order":817},"巴菲特：2008年给保尔森的信","ba-fei-te-2008nian-gei-bao-er-sen-de-xin",{"title":822,"slug":823,"category":358,"order":824},"2008 巴菲特致股东信","2008-ba-fei-te-zhi-gu-dong-xin",79,{"title":826,"slug":827,"category":159,"order":824},"巴菲特：2008年解析经济危机","ba-fei-te-2008nian-jie-xi-jing-ji-wei-ji",{"title":829,"slug":830,"category":358,"order":831},"2009 巴菲特致股东信","2009-ba-fei-te-zhi-gu-dong-xin",80,{"title":833,"slug":834,"category":159,"order":831},"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":836,"slug":837,"category":358,"order":838},"2010 巴菲特致股东信","2010-ba-fei-te-zhi-gu-dong-xin",81,{"title":840,"slug":841,"category":159,"order":838},"巴菲特：2009年CNBC 专访","ba-fei-te-2009nian-cnbc-zhuan-fang",{"title":843,"slug":844,"category":358,"order":845},"2011 巴菲特致股东信","2011-ba-fei-te-zhi-gu-dong-xin",82,{"title":847,"slug":848,"category":159,"order":845},"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":850,"slug":851,"category":358,"order":852},"2012 巴菲特致股东信","2012-ba-fei-te-zhi-gu-dong-xin",83,{"title":854,"slug":855,"category":159,"order":852},"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":857,"slug":858,"category":358,"order":859},"2013 巴菲特致股东信","2013-ba-fei-te-zhi-gu-dong-xin",84,{"title":861,"slug":862,"category":159,"order":859},"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":864,"slug":865,"category":358,"order":866},"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":868,"slug":869,"category":159,"order":866},"巴菲特：2009年收购BNSF 铁路","ba-fei-te-2009nian-shou-gou-bnsf-tie-lu",{"title":871,"slug":872,"category":358,"order":873},"2014 副董事长的思考","2014-fu-dong-shi-chang-de-si-kao",86,{"title":875,"slug":876,"category":159,"order":873},"巴菲特：2009年美元效应","ba-fei-te-2009nian-mei-yuan-xiao-ying",{"title":878,"slug":879,"category":358,"order":880},"2014 巴菲特致股东信","2014-ba-fei-te-zhi-gu-dong-xin",87,{"title":882,"slug":883,"category":159,"order":880},"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":885,"slug":886,"category":358,"order":887},"2015 巴菲特致股东信","2015-ba-fei-te-zhi-gu-dong-xin",88,{"title":889,"slug":890,"category":159,"order":887},"巴菲特：2010年\"捐赠誓言\"计划","ba-fei-te-2010nian-juan-zeng-shi-yan-ji-hua",{"title":892,"slug":893,"category":358,"order":894},"2016 巴菲特致股东信","2016-ba-fei-te-zhi-gu-dong-xin",89,{"title":896,"slug":897,"category":159,"order":894},"巴菲特：2010年CNBC 专访","ba-fei-te-2010nian-cnbc-zhuan-fang",{"title":899,"slug":900,"category":358,"order":901},"2017 巴菲特致股东信","2017-ba-fei-te-zhi-gu-dong-xin",90,{"title":903,"slug":904,"category":159,"order":901},"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":906,"slug":907,"category":358,"order":908},"2018 巴菲特致股东信","2018-ba-fei-te-zhi-gu-dong-xin",91,{"title":910,"slug":911,"category":159,"order":908},"巴菲特：2010年央视财经采访","ba-fei-te-2010nian-yang-shi-cai-jing-cai-fang",{"title":913,"slug":914,"category":358,"order":915},"2019 巴菲特致股东信","2019-ba-fei-te-zhi-gu-dong-xin",92,{"title":917,"slug":918,"category":159,"order":915},"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":920,"slug":921,"category":358,"order":922},"2020 巴菲特致股东信","2020-ba-fei-te-zhi-gu-dong-xin",93,{"title":924,"slug":925,"category":159,"order":922},"巴菲特：2010年慈善中国行","ba-fei-te-2010nian-ci-shan-zhong-guo-xing",{"title":927,"slug":928,"category":358,"order":929},"2021 巴菲特致股东信","2021-ba-fei-te-zhi-gu-dong-xin",94,{"title":931,"slug":932,"category":159,"order":929},"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":934,"slug":935,"category":358,"order":936},"2022 巴菲特致股东信","2022-ba-fei-te-zhi-gu-dong-xin",95,{"title":938,"slug":939,"category":159,"order":936},"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":941,"slug":942,"category":358,"order":943},"2023 巴菲特致股东信","2023-ba-fei-te-zhi-gu-dong-xin",96,{"title":945,"slug":946,"category":159,"order":943},"巴菲特：2011年500 亿美元的决定","ba-fei-te-2011nian-500-yi-mei-yuan-de-jue-ding",{"title":948,"slug":949,"category":358,"order":950},"2024 巴菲特致股东信","2024-ba-fei-te-zhi-gu-dong-xin",97,{"title":952,"slug":953,"category":159,"order":950},"巴菲特：2011年CNBC 专访","ba-fei-te-2011nian-cnbc-zhuan-fang",{"title":955,"slug":956,"category":358,"order":957},"2025 巴菲特致股东信","2025-ba-fei-te-zhi-gu-dong-xin",98,{"title":959,"slug":960,"category":159,"order":957},"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":962,"slug":963,"category":358,"order":964},"2025 感恩节致辞","2025-gan-en-jie-zhi-ci",99,{"title":966,"slug":967,"category":159,"order":964},"巴菲特：2011年查理·罗斯专访","ba-fei-te-2011nian-cha-li-luo-si-zhuan-fang",{"title":969,"slug":970,"category":358,"order":971},"2026 阿贝尔致股东信","2026-a-bei-er-zhi-gu-dong-xin",100,{"title":973,"slug":974,"category":159,"order":971},"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":976,"slug":977,"category":159,"order":978},"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":980,"slug":981,"category":159,"order":982},"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":984,"slug":985,"category":159,"order":986},"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":988,"slug":989,"category":159,"order":990},"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":992,"slug":993,"category":159,"order":994},"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":996,"slug":997,"category":159,"order":998},"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":1000,"slug":1001,"category":159,"order":1002},"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":1004,"slug":1005,"category":159,"order":1006},"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":1008,"slug":1009,"category":159,"order":1010},"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":1012,"slug":1013,"category":159,"order":1014},"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":1016,"slug":1017,"category":159,"order":1018},"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":1020,"slug":1021,"category":159,"order":1022},"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":5,"slug":169,"category":159,"order":165},{"title":1025,"slug":1026,"category":159,"order":1027},"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":1029,"slug":1030,"category":159,"order":1031},"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":1033,"slug":1034,"category":159,"order":1035},"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":1037,"slug":1038,"category":159,"order":1039},"巴菲特：2015年追忆唐基奥","ba-fei-te-2015nian-zhui-yi-tang-ji-ao",117,{"title":1041,"slug":1042,"category":159,"order":1043},"巴菲特：2015慈善承诺倡议","ba-fei-te-2015ci-shan-cheng-nuo-chang-yi",118,{"title":1045,"slug":1046,"category":159,"order":1047},"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":1049,"slug":1050,"category":159,"order":1051},"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":1053,"slug":1054,"category":159,"order":1055},"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":1057,"slug":1058,"category":159,"order":1059},"巴菲特：2017年接受CNBC采访","ba-fei-te-2017nian-jie-shou-cnbccai-fang",122,{"title":1061,"slug":1062,"category":159,"order":1063},"巴菲特：2017年接受PBS NEWS专访","ba-fei-te-2017nian-jie-shou-pbs-newszhuan-fang",123,{"title":1065,"slug":1066,"category":159,"order":1067},"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":1069,"slug":1070,"category":159,"order":1071},"巴菲特：2017年美国的未来","ba-fei-te-2017nian-mei-guo-de-wei-lai",125,{"title":1073,"slug":1074,"category":159,"order":1075},"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":1077,"slug":1078,"category":159,"order":1079},"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":1081,"slug":1082,"category":159,"order":1083},"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":1085,"slug":1086,"category":159,"order":1087},"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":1089,"slug":1090,"category":159,"order":1091},"巴菲特：2020年接受CNBC专访","ba-fei-te-2020nian-jie-shou-cnbczhuan-fang",130,{"title":1093,"slug":1094,"category":159,"order":1095},"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":1097,"slug":1098,"category":159,"order":1099},"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":1101,"slug":1102,"category":159,"order":1103},"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":1105,"slug":1106,"category":159,"order":1107},"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":1109,"slug":1110,"category":159,"order":1111},"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":1113,"slug":1114,"category":159,"order":1115},"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":1117,"slug":1118,"category":159,"order":1119},"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":1121,"slug":1122,"category":159,"order":1123},"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":1125,"slug":1126,"category":159,"order":1127},"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":1129,"slug":1130,"category":159,"order":1131},"巴菲特：2023年接受CNBC专访","ba-fei-te-2023nian-jie-shou-cnbczhuan-fang",140,{"title":1133,"slug":1134,"category":159,"order":1135},"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":1137,"slug":1138,"category":159,"order":1139},"巴菲特：2025年接受cbs采访","ba-fei-te-2025nian-jie-shou-cbscai-fang",142,{"title":1141,"slug":1142,"category":159,"order":1143},"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":1145,"slug":1146,"category":159,"order":1147},"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":1149,"slug":1150,"category":159,"order":1151},"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":1153,"slug":1154,"category":159,"order":1155},"巴菲特72条投资经典语录","ba-fei-te-72tiao-tou-zi-jing-dian-yu-lu",146,{"title":1157,"slug":1158,"category":159,"order":1159},"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":1161,"slug":1162,"category":159,"order":1163},"巴菲特：如何建立能力圈","ba-fei-te-ru-he-jian-li-neng-li-quan",148,{"title":1165,"slug":1166,"category":159,"order":1167},"巴菲特：巴菲特估值逻辑","ba-fei-te-ba-fei-te-gu-zhi-luo-ji",149,{"title":1169,"slug":1170,"category":159,"order":1171},"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":1173,"slug":1174,"category":159,"order":1175},"考夫曼：Glenair 企业文化","kao-fu-man-glenair-qi-ye-wen-hua",151,[1177,1181,1184,1187,1190,1193,1196,1199,1202,1206,1210,1213,1216,1219,1222,1225,1228,1231,1234,1237,1240,1243,1246,1249,1252,1256,1259,1262,1265,1268,1271,1274,1277,1280,1283,1287,1290,1293,1296,1299,1302,1305,1308,1312,1315,1318,1321,1324,1327,1330,1333,1336,1339,1342,1345,1348,1351,1354,1357,1360,1363,1366,1369,1372,1375,1378,1381,1384,1387,1390,1393,1398,1402,1406,1410,1414,1418,1422,1426,1430,1434,1438,1442,1446,1450,1454,1458,1462,1466,1470,1474],{"title":1178,"slug":1179,"category":1180,"order":178},"本分","benfen","核心哲学",{"title":1182,"slug":1183,"category":1180,"order":156},"平常心","pingchangxin",{"title":1185,"slug":1186,"category":1180,"order":198},"做对的事情","zuoduideshiqing",{"title":1188,"slug":1189,"category":1180,"order":208},"把事情做对","bashiqingzuodui",{"title":1191,"slug":1192,"category":1180,"order":218},"能力圈","nengliquan",{"title":1194,"slug":1195,"category":1180,"order":228},"不做什么","buzuoshenme",{"title":1197,"slug":1198,"category":1180,"order":238},"敢为天下后","ganweitianxiahou",{"title":1200,"slug":1201,"category":1180,"order":248},"消费者导向","xiaofeizhedaoxiang",{"title":1203,"slug":1204,"category":1205,"order":258},"价值投资","jiazhitouzi","投资理念",{"title":1207,"slug":1208,"category":1209,"order":268},"负债","fuzhai","财务指标",{"title":1211,"slug":1212,"category":1205,"order":268},"商业模式","shangyemoshi",{"title":1214,"slug":1215,"category":1205,"order":278},"护城河","huchenghe",{"title":1217,"slug":1218,"category":1209,"order":278},"净现金","jingxianjin",{"title":1220,"slug":1221,"category":1209,"order":288},"开销合理性","kaixiaohelixing",{"title":1223,"slug":1224,"category":1205,"order":288},"现金流","xianjinliu",{"title":1226,"slug":1227,"category":1209,"order":298},"真实利润","zhenshilirun",{"title":1229,"slug":1230,"category":1205,"order":298},"折现","zhexian",{"title":1232,"slug":1233,"category":1205,"order":308},"安全边际","anquanbianji",{"title":1235,"slug":1236,"category":1209,"order":308},"扣除商誉的净资产","jingzichan",{"title":1238,"slug":1239,"category":1205,"order":318},"基本面","jibenmian",{"title":1241,"slug":1242,"category":1205,"order":328},"机会成本","jihuichengben",{"title":1244,"slug":1245,"category":1205,"order":338},"长期持有","zhangqichiyou",{"title":1247,"slug":1248,"category":1205,"order":348},"投机","touji",{"title":1250,"slug":1251,"category":1205,"order":359},"止损","zhisun",{"title":1253,"slug":1254,"category":1255,"order":369},"企业文化","qiyewenhua","企业经营",{"title":1257,"slug":1258,"category":1255,"order":379},"品牌","pinpai",{"title":1260,"slug":1261,"category":1255,"order":389},"差异化","chayihua",{"title":1263,"slug":1264,"category":1255,"order":399},"用户体验","yonghutiyan",{"title":1266,"slug":1267,"category":1255,"order":409},"渠道","qudao",{"title":1269,"slug":1270,"category":1255,"order":419},"平台","pingtai",{"title":1272,"slug":1273,"category":1255,"order":429},"生态系统","shengtaixitong",{"title":1275,"slug":1276,"category":1255,"order":439},"单一产品","danyichanpin",{"title":1278,"slug":1279,"category":1255,"order":449},"造钟人","zaozhongren",{"title":1281,"slug":1282,"category":1255,"order":459},"利润之上的追求","lirunzhishangdezhuiqiu",{"title":1284,"slug":1285,"category":1286,"order":469},"进取心","jinquxin","品格与心性",{"title":1288,"slug":1289,"category":1286,"order":479},"耐心","naixin",{"title":1291,"slug":1292,"category":1286,"order":489},"责任心","zerenxin",{"title":1294,"slug":1295,"category":1286,"order":499},"爱心","aixin",{"title":1297,"slug":1298,"category":1286,"order":509},"信誉","xinyu",{"title":1300,"slug":1301,"category":1286,"order":516},"正直","zhengzhi",{"title":1303,"slug":1304,"category":1286,"order":523},"理性","lixing",{"title":1306,"slug":1307,"category":1286,"order":530},"长期主义","zhangqizhuyi",{"title":1309,"slug":1310,"category":1311,"order":971},"1999年 《都市快报》采访手记","duanyongping-1999nian-doushikuaibao-caifangshouji","访谈实录",{"title":1313,"slug":1314,"category":1311,"order":978},"1999年 步步高讲话","duanyongping-1999nian-bubugaojianghua",{"title":1316,"slug":1317,"category":1311,"order":982},"1999年做客人民大学精彩问答实录","duanyongping-1999nianzuokerenmindaxuejingcaiwendashilu",{"title":1319,"slug":1320,"category":1311,"order":986},"2000年 《销售与市场》杂志专访","duanyongping-2000nian-xiaoshouyushichang-zazhizhuanfang",{"title":1322,"slug":1323,"category":1311,"order":990},"2000年在央视“品牌与传播国际论坛”上的演讲","duanyongping-2000nianzaiyangshi-pinpaiyuchuanboguojiluntan-shangdeyanjiang",{"title":1325,"slug":1326,"category":1311,"order":994},"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":1328,"slug":1329,"category":1311,"order":998},"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":1331,"slug":1332,"category":1311,"order":1002},"2001年 我为什么要去读书？ —— 《读者》2001年11月刊","duanyongping-2001nian-woweishenmeyaoqudushu-duzhe-2001nian11yuekan",{"title":1334,"slug":1335,"category":1311,"order":1006},"2001年《世界经理人文摘》专访","duanyongping-2001nian-shijiejinglirenwenzhai-zhuanfang",{"title":1337,"slug":1338,"category":1311,"order":1010},"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":1340,"slug":1341,"category":1311,"order":1014},"2003年北京大学总裁班演讲座谈会全程实录","duanyongping-2003nianbeijingdaxuezongcaibanyanjiangzuotanhuiquanchengshilu",{"title":1343,"slug":1344,"category":1311,"order":1018},"2004财富人生—段永平 2004 采访","duanyongping-2004caifurensheng-duanyongping-2004-caifang",{"title":1346,"slug":1347,"category":1311,"order":1022},"2005年步步高十周年“记”念晚会：段永平发言","duanyongping-2005nianbubugaoshizhounian-ji-nianwanhui-duanyongpingfayan",{"title":1349,"slug":1350,"category":1311,"order":165},"2006年 深度对话网易证券全程实录","duanyongping-2006nian-shenduduihuawangyizhengquanquanchengshilu",{"title":1352,"slug":1353,"category":1311,"order":1027},"2006年做客新浪财经频道聊天全实录","duanyongping-2006nianzuokexinlangcaijingpindaoliaotianquanshilu",{"title":1355,"slug":1356,"category":1311,"order":1031},"2006年浙大“实话实说”","duanyongping-2006nianzheda-shihuashishuo",{"title":1358,"slug":1359,"category":1311,"order":1035},"2007年与巴菲特共进午餐后网易专访","duanyongping-2007nianyubafeitegongjinwucanhouwangyizhuanfang",{"title":1361,"slug":1362,"category":1311,"order":1039},"2007年波士堂访谈","duanyongping-2007nianboshitangfangtan",{"title":1364,"slug":1365,"category":1311,"order":1043},"2009年 深度专访： 探讨公益人生，分享成功体会","duanyongping-2009nian-shenduzhuanfang-tantaogongyirensheng-fenxiangchenggongtihu",{"title":1367,"slug":1368,"category":1311,"order":1047},"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":1370,"slug":1371,"category":1311,"order":1051},"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":1373,"slug":1374,"category":1311,"order":1055},"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":1376,"slug":1377,"category":1311,"order":1059},"2011年买入苹果思考","duanyongping-2011nianmairupingguosikao",{"title":1379,"slug":1380,"category":1311,"order":1063},"2013年浙大演讲","duanyongping-2013nianzhedayanjiang",{"title":1382,"slug":1383,"category":1311,"order":1067},"2016年浙大60周年专访","duanyongping-2016nianzheda60zhounianzhuanfang",{"title":1385,"slug":1386,"category":1311,"order":1071},"2025年浙江大学演讲及问答完整版","duanyongping-2025nianzhejiangdaxueyanjiangjiwendawanzhengban",{"title":1388,"slug":1389,"category":1311,"order":1075},"2025年谈躺平与内卷、与王石交流子女教育","duanyongping-2025niantantangpingyuneijuan-yuwangshijiaoliuzinvjiaoyu",{"title":1391,"slug":1392,"category":1311,"order":1079},"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":1394,"slug":1395,"category":1396,"order":1397},"问答录：第一章 投资大道","dadaotouziwendalu-diyizhangtouzidadao","投资问答录",200,{"title":1399,"slug":1400,"category":1396,"order":1401},"问答录：第二章 商业模式和企业文化","dadaotouziwendalu-dierzhangshangyemoshiheqiyewenhua",201,{"title":1403,"slug":1404,"category":1396,"order":1405},"问答录：第三章 公司点评","dadaotouziwendalu-disanzhanggongsidianping",202,{"title":1407,"slug":1408,"category":1396,"order":1409},"问答录：第四章 人生箴言","dadaotouziwendalu-disizhangrenshengzhenyan",203,{"title":1411,"slug":1412,"category":1396,"order":1413},"问答录：第五章 演讲与访谈","dadaotouziwendalu-diwuzhangyanjiangyufangtan",204,{"title":1415,"slug":1416,"category":1396,"order":1417},"问答录：第六章 更新","dadaotouziwendalu-diliuzhangduzhegengxin",205,{"title":1419,"slug":1420,"category":1396,"order":1421},"商业逻辑篇：第1节：伟大企业","duanyongping-shangyeluoji-di1jie-weidaqiye",401,{"title":1423,"slug":1424,"category":1396,"order":1425},"商业逻辑篇：第2节：商业模式","duanyongping-shangyeluoji-di2jie-shangyemoshi",402,{"title":1427,"slug":1428,"category":1396,"order":1429},"商业逻辑篇：第3节：企业文化","duanyongping-shangyeluoji-di3jie-qiyewenhua",403,{"title":1431,"slug":1432,"category":1396,"order":1433},"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":1435,"slug":1436,"category":1396,"order":1437},"商业逻辑篇：第5节：品牌、营销与广告","duanyongping-shangyeluoji-di5jie-pinpai-yingxiao-yu-guanggao",405,{"title":1439,"slug":1440,"category":1396,"order":1441},"商业逻辑篇：第6节：收购和多元化","duanyongping-shangyeluoji-di6jie-shougouheduoyuanhua",406,{"title":1443,"slug":1444,"category":1396,"order":1445},"商业逻辑篇：第7节：Stop doing list（不为清单）","duanyongping-shangyeluoji-di7jie-stop-doing-list-buweiqingdan",407,{"title":1447,"slug":1448,"category":1396,"order":1449},"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":1451,"slug":1452,"category":1396,"order":1453},"投资逻辑篇：第1章：投资理念","duanyongping-touziluoji-di1zhang-touzilinian",410,{"title":1455,"slug":1456,"category":1396,"order":1457},"投资逻辑篇：第2章：投资理解","duanyongping-touziluoji-di2jie-touzilijie",411,{"title":1459,"slug":1460,"category":1396,"order":1461},"投资问答录：第3章 golf和投资","duanyongping-touziluoji-di3zhang-golfhetouzi",412,{"title":1463,"slug":1464,"category":1396,"order":1465},"投资逻辑篇：第4章 财务理解","duanyongping-touziwendalu-touziluoji-di4zhang-caiwulijie",413,{"title":1467,"slug":1468,"category":1396,"order":1469},"投资逻辑篇：第5章：估值逻辑","duanyongping-touziluoji-di5zhang-guzhiluoji",414,{"title":1471,"slug":1472,"category":1396,"order":1473},"投资逻辑篇：第6章 投资方法论","duanyongping-touziluoji-di6zhang-touzifangfalun",415,{"title":1475,"slug":1476,"category":1396,"order":1477},"投资逻辑篇：第7章：案例分析","duanyongping-touziluoji-di7zhang-anlifenxi",416,[1479,1482,1485,1488,1492,1496,1499,1503,1505,1508,1511,1514,1518,1521,1524,1527,1530,1534,1537,1540,1543,1546,1550,1553,1556,1558,1561,1564,1567,1570,1573,1576,1579,1582,1585,1588,1591,1594,1597,1600,1603,1606,1609,1612,1615,1618,1621,1624,1627,1630,1633,1636,1639,1642,1645,1648,1651,1654,1657,1660,1663,1666,1669,1672,1675,1678,1682,1685,1688,1691,1694,1698,1701,1704,1707],{"title":1191,"slug":1480,"category":1481,"order":178},"ability-circle","决策与战略",{"title":1483,"slug":1484,"category":1481,"order":156},"逆向思维","inversion",{"title":1241,"slug":1486,"category":1487,"order":198},"opportunity-cost","经济学",{"title":1489,"slug":1490,"category":1491,"order":208},"复利","compound-interest","数学与概率论",{"title":1493,"slug":1494,"category":1495,"order":218},"激励机制","incentives","心理学",{"title":1497,"slug":1498,"category":1491,"order":228},"概率思维","probabilistic-thinking",{"title":1500,"slug":1501,"category":1502,"order":238},"二阶效应","second-order-effects","哲学与逻辑",{"title":1232,"slug":1504,"category":1481,"order":248},"margin-of-safety",{"title":1506,"slug":1507,"category":1495,"order":258},"心理误判","psychology-of-misjudgment",{"title":1509,"slug":1510,"category":1481,"order":268},"检查清单","checklist",{"title":1512,"slug":1513,"category":1487,"order":278},"规模优势","scale-advantage",{"title":1515,"slug":1516,"category":1517,"order":288},"冗余与容错","redundancy","工程学\u002F系统",{"title":1519,"slug":1520,"category":1491,"order":298},"排列组合","combinatorics",{"title":1522,"slug":1523,"category":1491,"order":308},"费马-帕斯卡","fermat-pascal",{"title":1525,"slug":1526,"category":1491,"order":318},"均值回归","regression-to-the-mean",{"title":1528,"slug":1529,"category":1491,"order":328},"量化分析","quantitative-analysis",{"title":1531,"slug":1532,"category":1533,"order":338},"临界点\u002F相变","critical-point-phase-transition","物理学",{"title":1535,"slug":1536,"category":1533,"order":348},"平衡态","equilibrium",{"title":1538,"slug":1539,"category":1533,"order":359},"熵增定律","entropy",{"title":1541,"slug":1542,"category":1533,"order":369},"能量守恒","conservation-of-energy",{"title":1544,"slug":1545,"category":1533,"order":379},"杠杆原理","leverage",{"title":1547,"slug":1548,"category":1549,"order":389},"自然选择","natural-selection","生物学\u002F进化论",{"title":1551,"slug":1552,"category":1549,"order":399},"物竞天择","competition-for-resources",{"title":1554,"slug":1555,"category":1549,"order":409},"进化思维","evolutionary-thinking",{"title":1272,"slug":1557,"category":1549,"order":419},"ecosystem",{"title":1559,"slug":1560,"category":1495,"order":429},"爱好倾向","liking-tendency",{"title":1562,"slug":1563,"category":1495,"order":439},"讨厌倾向","disliking-tendency",{"title":1565,"slug":1566,"category":1495,"order":449},"避免怀疑倾向","doubt-avoidance-tendency",{"title":1568,"slug":1569,"category":1495,"order":459},"一致性倾向","consistency-tendency",{"title":1571,"slug":1572,"category":1495,"order":469},"好奇心倾向","curiosity-tendency",{"title":1574,"slug":1575,"category":1495,"order":479},"康德式公平","kantian-fairness",{"title":1577,"slug":1578,"category":1495,"order":489},"艳羡\u002F妒忌倾向","envy-jealousy-tendency",{"title":1580,"slug":1581,"category":1495,"order":499},"反馈倾向","reciprocation-tendency",{"title":1583,"slug":1584,"category":1495,"order":509},"权威误导","authority-misinfluence",{"title":1586,"slug":1587,"category":1495,"order":516},"重视理由","reason-respecting-tendency",{"title":1589,"slug":1590,"category":1495,"order":523},"过度乐观","over-optimism",{"title":1592,"slug":1593,"category":1495,"order":530},"损失厌恶","loss-aversion",{"title":1595,"slug":1596,"category":1495,"order":537},"否认倾向","denial-tendency",{"title":1598,"slug":1599,"category":1495,"order":544},"过度反应","overreaction-tendency",{"title":1601,"slug":1602,"category":1495,"order":551},"社群影响","social-influence",{"title":1604,"slug":1605,"category":1495,"order":558},"压力倾向","stress-influence-tendency",{"title":1607,"slug":1608,"category":1495,"order":565},"物质主义","materialism-tendency",{"title":1610,"slug":1611,"category":1495,"order":572},"废话倾向","twaddle-tendency",{"title":1613,"slug":1614,"category":1495,"order":579},"确认偏误","confirmation-bias",{"title":1616,"slug":1617,"category":1495,"order":586},"锚定效应","anchoring-effect",{"title":1619,"slug":1620,"category":1495,"order":593},"现时偏差","present-bias",{"title":1622,"slug":1623,"category":1495,"order":600},"贪婪倾向","greed-tendency",{"title":1625,"slug":1626,"category":1487,"order":607},"边际成本\u002F收益","marginal-cost-benefit",{"title":1628,"slug":1629,"category":1487,"order":614},"供需关系","supply-and-demand",{"title":1631,"slug":1632,"category":1487,"order":621},"帕累托最优","pareto-optimality",{"title":1634,"slug":1635,"category":1487,"order":628},"竞争性毁灭","creative-destruction",{"title":1637,"slug":1638,"category":1481,"order":635},"双轨分析","two-track-analysis",{"title":1640,"slug":1641,"category":1481,"order":642},"非线性思维","nonlinear-thinking",{"title":1643,"slug":1644,"category":1481,"order":649},"极化思考","extreme-thinking",{"title":1646,"slug":1647,"category":1481,"order":656},"必要功","necessary-work",{"title":1649,"slug":1650,"category":1517,"order":663},"停机问题","halting-problem",{"title":1652,"slug":1653,"category":1517,"order":670},"闭环系统","closed-loop-system",{"title":1655,"slug":1656,"category":1517,"order":677},"故障安全","fail-safe",{"title":1658,"slug":1659,"category":1517,"order":684},"反向设计","reverse-design",{"title":1661,"slug":1662,"category":1517,"order":691},"瓶颈分析","bottleneck-analysis",{"title":1664,"slug":1665,"category":1502,"order":698},"第一性原理","first-principles",{"title":1667,"slug":1668,"category":1502,"order":705},"证伪思维","falsification",{"title":1670,"slug":1671,"category":1502,"order":712},"奥卡姆剃刀","occams-razor",{"title":1673,"slug":1674,"category":1502,"order":719},"中道思维","middle-way",{"title":1676,"slug":1677,"category":1502,"order":726},"不可知论","agnosticism",{"title":1679,"slug":1680,"category":1681,"order":733},"大数定律","law-of-large-numbers","统计学",{"title":1683,"slug":1684,"category":1681,"order":740},"样本偏差","sample-bias",{"title":1686,"slug":1687,"category":1681,"order":747},"相关性≠因果","correlation-not-causation",{"title":1689,"slug":1690,"category":1681,"order":754},"幸存者偏差","survivorship-bias",{"title":1692,"slug":1693,"category":1681,"order":761},"基本比率","base-rate",{"title":1695,"slug":1696,"category":1697,"order":768},"社会认同","social-proof","社会学",{"title":1699,"slug":1700,"category":1697,"order":775},"部落本能","tribal-instinct",{"title":1702,"slug":1703,"category":1697,"order":782},"金蛋定律","golden-egg-rule",{"title":1705,"slug":1706,"category":1697,"order":789},"互利共生","mutualism",{"title":1708,"slug":1709,"category":1697,"order":796},"激励传导","incentive-transmission",1778291664282]