99\u5c81\u8292\u683c\u768499\u53e5\u540d\u8a00<\/p>\n\n\n\n
\u524d\u4e24\u5929\u662fCharlie Munger 99\u5c81\u751f\u65e5\u3002\u4f5c\u4e3a\u5168\u7403\u6700\u53d7\u4eba\u5c0a\u91cd\u7684\u6295\u8d44\u8005\u4e4b\u4e00\uff0c\u4ed6\u7559\u7ed9\u6211\u4eec\u5f88\u591a\u5e7d\u9ed8\u53c8\u5bcc\u6709\u54f2\u7406\u7684\u8bdd\u3002\u63a8\u4e0a\u6709\u670b\u53cb\u603b\u7ed3\u4e8699\u6761Munger\u7684\u4eba\u751f\u4e0e\u6295\u8d44\u7bb4\u8a00\uff0c\u6211\u5220\u6539\u4e86\u4e00\u4e9b\u91cd\u590d\u5185\u5bb9\u5e76\u505a\u4e86\u7ffb\u8bd1\uff0c\u4e0e\u5404\u4f4d\u5206\u4eab\u3002\u5404\u4f4d\u53ef\u4ee5\u7ed3\u5408\u81ea\u5df1\u7ecf\u9a8c\uff0c\u804a\u804a\u54ea\u6761\u5bf9\u4f60\u6700\u6709\u542f\u53d1\uff1f<\/p>\n\n\n\n
1\u3001\u8d5a\u5927\u94b1\u4e0d\u662f\u9760\u4e70\u5356\uff0c\u662f\u9760\u7b49\u5f85\uff08The big money is not in the buying and the selling, but in the waiting\uff09\u3002<\/p>\n\n\n\n
2\u3001\u6301\u7eed\u5b66\u4e60\uff0c\u6301\u7eed\u6210\u957f\uff08Those who keep learning, will keep rising in life.\uff09<\/p>\n\n\n\n
3\u3001\u50cf\u6c83\u4f26\u4e00\u6837\uff0c\u6211\u5bf9\u53d8\u5bcc\u5f88\u6709\u70ed\u60c5\u3002\u4e0d\u662f\u56e0\u4e3a\u6211\u60f3\u8981\u6cd5\u62c9\u5229\uff0c\u800c\u662f\u6211\u60f3\u8981\u72ec\u7acb\u3002\u8feb\u5207\u7684\u60f3\u72ec\u7acb\u3002<\/p>\n\n\n\n
4\u3001\u6ca1\u6709\u4e07\u80fd\u516c\u5f0f\u3002\u4f60\u9700\u8981\u5bf9\u5546\u4e1a\u3001\u4eba\u6027\u3001\u6570\u5b57\u4e86\u89e3\u5f88\u591a\u3002\u4f60\u4e0d\u5e94\u8be5\u671f\u5f85\u67d0\u4e2a\u795e\u5947\u7684\u7cfb\u7edf\u66ff\u4f60\u6765\u505a\u8fd9\u4ef6\u4e8b\u3002<\/p>\n\n\n\n
5\u3001\u7834\u4ea7\u6709\u4e09\u79cd\u65b9\u5f0f\uff1a\u9152\u7cbe\u3001\u5973\u4eba\u548c\u6760\u6746\u3002<\/p>\n\n\n\n
6\u3001\u5386\u53f2\u662f\u5bf9\u4e8e\u672a\u6765\u6700\u597d\u7684\u8001\u5e08\u3002\u5386\u53f2\u4e66\u4e2d\u7684\u7b54\u6848\u4ef7\u503c\u4e07\u91d1\uff08There is no better teacher than history in determining the future\u2026 There are answers worth billions of dollars in a history book.\uff09\u3002<\/p>\n\n\n\n
7\u3001\u6211\u4eec\u7684\u6295\u8d44\u6709\u4e09\u4e2a\u7bee\u5b50\uff1a\u6295\uff0c\u4e0d\u6295\uff0c\u4e0d\u61c2\uff08We have three baskets for investing: yes, no, and too tough to understand\uff09\u3002<\/p>\n\n\n\n
8\u3001\u5ac9\u5992\u662f\u611a\u8822\u7684\u7f6a\u6076\uff0c\u56e0\u4e3a\u5b83\u53ea\u6709\u75db\u82e6\uff0c\u6ca1\u6709\u5feb\u4e50\u3002<\/p>\n\n\n\n
9\u3001\u77e5\u9053\u4f60\u4e0d\u77e5\u9053\u4ec0\u4e48\uff0c\u6bd4\u806a\u660e\u66f4\u91cd\u8981\u3002<\/p>\n\n\n\n
10\u3001\u5c1d\u8bd5\u6bcf\u5929\u53d8\u5f97\u66f4\u667a\u6167\u4e00\u4e9b\u3002\u6301\u4e4b\u4ee5\u6052\uff0c\u53ea\u8981\u4f60\u6d3b\u7684\u591f\u4e45\uff0c\u4f60\u4f1a\u5f97\u5230\u4f60\u60f3\u8981\u7684\u751f\u6d3b\u3002<\/p>\n\n\n\n
11\u3001\u6211\u5e38\u5e38\u53d1\u73b0\u6210\u529f\u8005\u5e76\u975e\u662f\u6700\u806a\u660e\u7684\uff0c\u751a\u81f3\u4e0d\u662f\u6700\u52aa\u529b\u7684\uff0c\u4f46\u4ed6\u4eec\u662f\u5b66\u4e60\u673a\u5668\u3002<\/p>\n\n\n\n
12\u3001\u5408\u7406\u50a8\u84c4\uff0c\u79ef\u6781\u6295\u8d44\u3002\u5b66\u4e60\u4f60\u6240\u5e94\u5b66\uff08Live within your income and save so you can invest. Learn what you need to learn\uff09\u3002<\/p>\n\n\n\n
13\u3001\u5bf9\u6211\u4eec\u6765\u8bf4\uff0c\u65f6\u523b\u63d0\u9192\u81ea\u5df1\u4e0d\u505a\u50bb\u4e8b\u6240\u5e26\u6765\u7684\u957f\u671f\u56de\u62a5\uff0c\u8981\u8fdc\u8fdc\u5927\u4e8e\u8bd5\u7740\u53d8\u5f97\u66f4\u806a\u660e\u3002<\/p>\n\n\n\n
14\u3001\u9009\u62e9\u4e00\u4e2a\u7b80\u5355\u7684\u7406\u5ff5\uff0c\u77e2\u5fd7\u4e0d\u6e1d\u5730\u53bb\u6267\u884c\uff08Take one simple idea and take it seriously\uff09\u3002<\/p>\n\n\n\n
15\u3001\u5728\u6211\u4e00\u751f\u4e2d\uff0c\u6211\u8ba4\u8bc6\u7684\u6bcf\u4e00\u4e2a\u667a\u6167\u7684\u4eba\u90fd\u5728\u4ece\u65e9\u5230\u665a\u7684\u9605\u8bfb\u3002\u6bcf\u4e00\u4e2a\u3002<\/p>\n\n\n\n
16\u3001\u7528\u4e00\u822c\u7684\u4ef7\u683c\u4e0b\u4e70\u5165\u4f1f\u5927\u7684\u516c\u53f8\uff0c\u8fdc\u597d\u4e8e\u4ee5\u4fbf\u5b9c\u7684\u4ef7\u683c\u4e70\u5165\u4e00\u822c\u7684\u516c\u53f8\u3002<\/p>\n\n\n\n
17\u3001\u5982\u679c\u4f60\u64c5\u957f\u98a0\u8986\u81ea\u5df1\u9519\u8bef\u7684\u60f3\u6cd5\uff0c\u90a3\u5c06\u662f\u975e\u5e38\u68d2\u7684\u5929\u8d4b\u3002<\/p>\n\n\n\n
18\u3001\u4f60\u4f1a\u60ca\u8bb6\u4e8e\u6c83\u4f26\u548c\u6211\u8bfb\u591a\u5c11\u4e66\u3002\u6211\u7684\u5b69\u5b50\u4eec\u5632\u7b11\u6211\u662f\u957f\u4e86\u817f\u7684\u4e66\u7c4d\u3002<\/p>\n\n\n\n
19\u3001\u4eba\u4eec\u7b97\u8ba1\u592a\u591a\uff0c\u601d\u8003\u592a\u5c11\uff08People calculate too much & think too little\uff09<\/p>\n\n\n\n
20\u3001\u8d2a\u5a6a\u8bfb\u4e66\uff0c\u7ec8\u751f\u5b66\u4e60\uff0c\u4fdd\u6301\u597d\u5947\uff0c\u65e5\u65e5\u589e\u6167\uff08Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.\uff09\u3002<\/p>\n\n\n\n
21\u3001\u7761\u89c9\u7684\u65f6\u5019\uff0c\u4e89\u53d6\u6bd4\u65e9\u8d77\u65f6\u66f4\u52a0\u667a\u6167\u3002<\/p>\n\n\n\n
22\u3001\u6211\u6700\u60f3\u77e5\u9053\u7684\u4e8b\u60c5\u662f\u6211\u4f1a\u6b7b\u5728\u54ea\uff0c\u7136\u540e\u6211\u575a\u51b3\u4e0d\u53bb\u90a3\u4e2a\u5730\u65b9\u3002<\/p>\n\n\n\n
23\u3001\u6211\u8ba4\u4e3a\uff0c\u6bcf\u6b21\u4f60\u770b\u5230\u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6\uff08EBITDA\uff09\u8fd9\u4e2a\u8bcd\uff0c\u4f60\u5e94\u8be5\u7528\u201c\u72d7\u5c4e\u5229\u6da6\u201d\u6765\u66ff\u4ee3\u3002<\/p>\n\n\n\n
24\u3001\u8981\u60f3\u5bcc\u6709\uff0c\u4f60\u9700\u8981\u8ba9\u81ea\u5df1\u5904\u4e8e\u201c\u4e0b\u884c\u98ce\u9669\u5f88\u5c0f\uff0c\u4e0a\u884c\u7a7a\u95f4\u5f88\u5927\u201d\u7684\u73af\u5883\u91cc\u3002<\/p>\n\n\n\n
25\u3001\u505a\u597d\u624b\u8fb9\u4e8b\u3002<\/p>\n\n\n\n
26\u3001\u4f60\u8981\u914d\u5f97\u4e0a\u4f60\u7684\u91ce\u5fc3\u3002\u8fd9\u4e2a\u4e16\u754c\u8fd8\u6ca1\u6709\u75af\u72c2\u5230\u4f1a\u5956\u52b1\u4e00\u5927\u7fa4\u624d\u4e0d\u914d\u4f4d\u7684\u4eba\u3002<\/p>\n\n\n\n
27\u3001\u957f\u671f\u6295\u8d44\u672c\u5c31\u4e0d\u8be5\u7b80\u5355\u3002\u53ea\u6709\u8822\u8d27\u624d\u89c9\u5f97\u5b83\u5f88\u7b80\u5355\u3002<\/p>\n\n\n\n
28\u3001\u5982\u679c\u628a\u8461\u8404\u5e72\u548c\u7caa\u7403\u6df7\u5728\u4e00\u8d77\uff0c\u4f60\u5f97\u5230\u7684\u662f\u7caa\u7403\u3002<\/p>\n\n\n\n
29\u3001\u4f60\u4e0d\u9700\u8981\u53d8\u5f97\u5f88\u806a\u660e\u3002\u4f60\u53ea\u9700\u8981\u5728\u76f8\u5f53\u957f\u7684\u65f6\u95f4\u91cc\u6bd4\u5927\u591a\u4eba\u667a\u6167\u4e00\u70b9\u70b9\u3002<\/p>\n\n\n\n
30\u3001\u5b66\u4f1a\u627f\u8ba4\u4f60\u6240\u4e0d\u77e5\u9053\u7684\u4e8b\u60c5\u662f\u667a\u6167\u7684\u9ece\u660e\u3002<\/p>\n\n\n\n
31\u3001\u624b\u6301\u5927\u91cf\u73b0\u91d1\u800c\u4e0d\u6301\u80a1\u9700\u8981\u5927\u91cf\u7684\u52c7\u6c14\u3002\u6211\u4e0d\u662f\u9760\u8ffd\u9010\u90a3\u4e9b\u5e73\u5eb8\u7684\u673a\u4f1a\u6765\u83b7\u5f97\u4eca\u5929\u7684\u6210\u5c31\u7684\u3002<\/p>\n\n\n\n
32\u3001\u5982\u679c\u4f60\u6301\u7eed\u5b66\u4e60\uff0c\u4f60\u80fd\u83b7\u5f97\u5de8\u5927\u7684\u6210\u529f\u3002<\/p>\n\n\n\n
33\u3001\u6210\u4e3a\u67d0\u4e2a\u4eba\u7269\u548c\u505a\u524d\u4eba\u6ca1\u6709\u505a\u8fc7\u7684\u4e8b\u60c5\u662f\u5b8c\u5168\u4e0d\u540c\u7684\u4e24\u4ef6\u4e8b<\/p>\n\n\n\n
34\u3001\u751f\u6d3b\u4e2d\u7684\u5927\u591a\u6570\u9519\u8bef\u662f\u5fd8\u8bb0\u4e86\u521d\u5fc3<\/p>\n\n\n\n
35\u3001\u4eba\u7c7b\u6700\u7f8e\u5999\u7684\u4e8b\u60c5\u83ab\u8fc7\u4e8e\u5e2e\u52a9\u5176\u4ed6\u4eba\u77e5\u9053\u66f4\u591a<\/p>\n\n\n\n
36\u3001\u517b\u6210\u66f4\u591a\u65f6\u95f4\u5728\u9605\u8bfb\u548c\u601d\u8003\u800c\u975e\u505a\u4e8b\u7684\u4e60\u60ef\uff0c\u7edd\u975e\u5076\u7136<\/p>\n\n\n\n
37\u3001\u6700\u7b80\u5355\u7684\u89c4\u907f\u9ebb\u70e6\u7684\u65b9\u6cd5\u662f\u4fdd\u6301\u7b80\u5355<\/p>\n\n\n\n
38\u3001\u673a\u4f1a\u603b\u662f\u7559\u7ed9\u6709\u51c6\u5907\u7684\u5934\u8111<\/p>\n\n\n\n
39\u3001\u6211\u4ece\u4e0d\u5173\u5fc3\u5b66\u672f\u7406\u8bba\u4e2d\u7684\u5730\u57df\u8fb9\u754c\uff0c\u6211\u53ea\u662f\u6293\u4f4f\u4e00\u5207\u6d6e\u73b0\u5728\u6211\u5934\u8111\u4e2d\u7684\u91cd\u8981\u60f3\u6cd5\u3002<\/p>\n\n\n\n
40\u3001\u6211\u603b\u662f\u8fdc\u79bb\u90a3\u4e9b\u201c\u80fd\u591f\u975e\u5e38\u81ea\u4fe1\u5730\u56de\u7b54\u4ed6\u4eec\u5e76\u4e0d\u61c2\u7684\u95ee\u9898\u201d\u7684\u4eba\u3002<\/p>\n\n\n\n
41\u3001\u5e94\u8be5\u5c3d\u53ef\u80fd\u7ad9\u5728\u5de8\u4eba\u7684\u80a9\u8180\u4e0a\uff0c\u800c\u975e\u81ea\u5df1\u51ed\u7a7a\u60f3\u8c61\u3002<\/p>\n\n\n\n
42\u3001\u201c\u7b80\u5355\u5316\u201d\u6709\u52a9\u4e8e\u8ba9\u6211\u4eec\u66f4\u597d\u7684\u660e\u767d\u6211\u4eec\u5728\u5e72\u5565\u3002<\/p>\n\n\n\n
43\u3001\u4e0d\u8981\u6175\u61d2\uff0c\u4e0d\u8981\u4e0d\u53ef\u9760<\/p>\n\n\n\n
44\u3001\u5ac9\u5992\u3001\u6124\u6068\u3001\u81ea\u601c\u662f\u601d\u60f3\u7684\u575f\u5893\u3002\u81ea\u601c\u5f88\u5bb9\u6613\u6f14\u53d8\u4e3a\u5984\u60f3\uff0c\u800c\u5984\u60f3\u662f\u7cbe\u795e\u7684\u9ed1\u6d1e\u3002<\/p>\n\n\n\n
45\u3001\u6211\u4eec\u8fd9\u4e9b\u8fd0\u6c14\u4e0d\u9519\u7684\u4eba\u6709\u4e49\u52a1\u56de\u9988\u793e\u4f1a\u3002\u65e0\u8bba\u662f\u50cf\u6211\u4e00\u6837\u5728\u751f\u524d\u5927\u91cf\u6350\u8d60\uff0c\u8fd8\u662f\u50cf\u6c83\u4f26\u4e00\u6837\u6253\u7b97\u53bb\u4e16\u540e\u624d\u5927\u91cf\u6350\u8d60\uff0c\u90fd\u4e0d\u8fc7\u662f\u4e2a\u4eba\u7684\u9009\u62e9\u3002<\/p>\n\n\n\n
46\u3001\u6211\u4eec\u53d1\u73b0\u806a\u660e\u7684\u4eba\u4f1a\u5e72\u5f88\u50bb\u7684\u4e8b\u60c5\u3002\u56e0\u6b64\u6211\u4eec\u5f88\u60f3\u77e5\u9053\u4e3a\u4ec0\u4e48\u3001\u8c01\u4f1a\u8fd9\u4e48\u5e72\uff0c\u6765\u907f\u514d\u548c\u4ed6\u4eec\u6253\u4ea4\u9053\u3002<\/p>\n\n\n\n
47\u3001\u804c\u573a\u4e09\u539f\u5219\uff1a\u4e0d\u8981\u5356\u4efb\u4f55\u4f60\u4e0d\u4f1a\u4e70\u7684\u4e1c\u897f\uff0c\u4e0d\u8981\u7ed9\u4f60\u4e0d\u94a6\u4f69\u7684\u4eba\u6253\u5de5\uff0c\u548c\u4e0e\u4f60\u5fd7\u540c\u9053\u5408\u7684\u4eba\u4e00\u9053\u5de5\u4f5c\u3002<\/p>\n\n\n\n
48\u3001\u201c\u7b49\u5f85\u201d\u662f\u6295\u8d44\u7684\u670b\u53cb\uff0c\u4f46\u592a\u591a\u4eba\u65e0\u6cd5\u5bb9\u5fcd\u201c\u7b49\u5f85\u201d\u3002\u5982\u679c\u4f60\u6ca1\u6709\u201c\u5ef6\u8fdf\u6ee1\u8db3\u201d\u7684\u57fa\u56e0\uff0c\u4f60\u53ef\u4ee5\u8003\u8651\u62fc\u547d\u5de5\u4f5c\u6765\u514b\u670d\u5b83\u3002<\/p>\n\n\n\n
49\u3001\u6240\u6709\u667a\u6167\u7684\u6295\u8d44\u90fd\u662f\u4ef7\u503c\u6295\u8d44\uff0c\u5b83\u672c\u8d28\u4e0a\u662f\u4ee5\u4f4e\u4ef7\u683c\u83b7\u5f97\u9ad8\u56de\u62a5\u3002<\/p>\n\n\n\n
50\u3001\u5f88\u591a\u667a\u5546\u5f88\u9ad8\u7684\u4eba\u662f\u7cdf\u7cd5\u7684\u6295\u8d44\u8005\uff0c\u56e0\u4e3a\u4ed6\u4eec\u7684\u6027\u60c5\u5f88\u7cdf\u7cd5\u3002<\/p>\n\n\n\n
51\u3001\u8d1f\u503a\u6c38\u8fdc\u662f\u65e0\u7f6a\u7684\u3002\u4f60\u5e94\u8be5\u62c5\u5fc3\u7684\u662f\u8d44\u4ea7\u3002<\/p>\n\n\n\n
52\u3001\u5168\u4e16\u754c\u6700\u4f1f\u5927\u7684\u4f5c\u66f2\u5bb6\u662f\u83ab\u624e\u7279\u3002\u4f46\u4ed6\u4e5f\u662f\u6700\u60b2\u60e8\u7684\u4f5c\u66f2\u5bb6\uff0c\u539f\u56e0\u662f\u82b1\u7684\u6bd4\u6323\u7684\u591a\u3002\u5982\u679c\u8fde\u83ab\u624e\u7279\u90fd\u4e0d\u80fd\u8fc7\u201c\u6325\u91d1\u5982\u571f\u201d\u7684\u65e5\u5b50\uff0c\u90a3\u4e48\u4f60\u4e5f\u4e0d\u5e94\u8be5\u3002<\/p>\n\n\n\n
53\u3001\u6211\u4eec\u4e0d\u60f3\u4e3a\u4e86\u5728\u6211\u4eec\u7684\u8d22\u5bcc\u4e0a\u52a0\u4e2a\u96f6\uff0c\u800c\u53bb\u5192\u90a3\u4e9b\u53ef\u80fd\u4f1a\u8ba9\u5f88\u591a\u5f88\u4e0d\u9519\u7684\u4eba\u5931\u4e1a\u56de\u5bb6\u7684\u98ce\u9669\uff08\u6307\u52a0\u6760\u6746\uff09\u3002<\/p>\n\n\n\n
54\u3001\u5bf9\u7fa4\u4f53\u6027\u884c\u4e3a\u7684\u6a21\u4eff\uff0c\u5bfc\u81f4\u5e02\u573a\u5e38\u5e38\u504f\u79bb\u4f46\u53c8\u56de\u5f52\u5747\u503c\u3002<\/p>\n\n\n\n
55\u3001\u4f60\u5fc5\u987b\u903c\u8feb\u81ea\u5df1\u601d\u8003\u53cd\u5bf9\u7684\u89c2\u70b9\uff0c\u7279\u522b\u662f\u5f53\u5b83\u548c\u4f60\u6700\u559c\u6b22\u7684\u89c2\u70b9\u6253\u67b6\u7684\u65f6\u5019\u3002<\/p>\n\n\n\n
56\u3001\u6c83\u4f26\u548c\u6211\u575a\u6301\u6bcf\u5929\u82b1\u8d39\u5927\u91cf\u65f6\u95f4\u5728\u9605\u8bfb\u548c\u601d\u8003\u4e0a\u3002\u8fd9\u5728\u7f8e\u56fd\u5546\u4e1a\u754c\u4e0d\u592a\u666e\u904d\u3002<\/p>\n\n\n\n
57\u3001\u6211\u4eec\u8fd9\u884c\u7684\u672c\u8d28\u662f\u6293\u4f4f\u90a3\u4e9b\u5f88\u68d2\u4f46\u53c8\u4e0d\u5e38\u89c1\u7684\u597d\u70b9\u5b50\u3002<\/p>\n\n\n\n
58\u300199%\u7684\u5bf9\u6211\u4eec\u91d1\u878d\u4f53\u7cfb\u7684\u5a01\u80c1\u6765\u81ea\u4e8e\u8fc7\u5ea6\u4e50\u89c2\u3002\u56e0\u6b64\u6211\u4eec\u5e94\u5f53\u8bbe\u8ba1\u66f4\u52a0\u4fdd\u5b88\u7684\u4f1a\u8ba1\u4f53\u7cfb\u3002<\/p>\n\n\n\n
59\u3001\u6211\u4eec\u5e0c\u671b\u5728\u65e0\u7f1d\u4fe1\u4efb\u7684\u7f51\u7edc\u4e2d\u8fd0\u8425\uff0c\u4f46\u4e5f\u8c28\u614e\u5bf9\u5f85\u6211\u4eec\u4fe1\u4efb\u4e4b\u4eba\u3002<\/p>\n\n\n\n
60\u3001\u5047\u8bbe\u751f\u6d3b\u5c06\u53d8\u5f97\u7279\u522b\u56f0\u96be\uff0c\u7136\u540e\u95ee\u81ea\u5df1\u80fd\u5e94\u4ed8\u7684\u4e86\u5417\uff1f\u5982\u679c\u7b54\u6848\u662f\u201c\u662f\u7684\u201d\uff0c\u90a3\u4e48\u4f60\u5df2\u7ecf\u8d62\u4e86\u3002<\/p>\n\n\n\n
61\u3001\u4ec5\u4ec5\u56e0\u4e3a\u4f60\u559c\u6b22\uff0c\u4e0d\u4ee3\u8868\u4e16\u754c\u4f1a\u628a\u5b83\u7ed9\u4f60\u3002<\/p>\n\n\n\n
62\u3001\u70ed\u60c5\u6bd4\u8111\u529b\u66f4\u91cd\u8981\u3002<\/p>\n\n\n\n
63\u3001\u6709\u6ca1\u6709\u5feb\u4e50\u7684\u60b2\u89c2\u4e3b\u4e49\u8005\uff1f\u6211\u5c31\u662f\u3002<\/p>\n\n\n\n
64\u3001\u58f0\u8a89\u548c\u6b63\u76f4\u662f\u4f60\u6700\u5b9d\u8d35\u7684\u8d44\u4ea7\uff0c\u4f60\u77ac\u95f4\u5c31\u53ef\u80fd\u5931\u53bb\u5b83\u4eec\u3002<\/p>\n\n\n\n
65\u3001\u6c38\u8fdc\u8981\u8d70\u201c\u6b63\u9053\u201d\uff0c\u5b83\u5e76\u4e0d\u62e5\u6324\uff08Always take the high road, it’s far less crowded\uff09\u3002<\/p>\n\n\n\n
66\u3001\u4f60\u9700\u8981\u8010\u5fc3\u3001\u7eaa\u5f8b\u548c\u654f\u9510\uff0c\u624d\u80fd\u66f4\u597d\u9762\u5bf9\u4e8f\u635f\u548c\u9006\u5883\u800c\u4e0d\u5d29\u6e83\u3002<\/p>\n\n\n\n
67\u3001\u6240\u6709\u806a\u660e\u7684\u98de\u884c\u5458\u2014\u2014\u65e0\u8bba\u4ed6\u591a\u4e48\u7ecf\u9a8c\u4e30\u5bcc\u2014\u2014\u90fd\u4f1a\u4f7f\u7528\u201c\u8d77\u98de\u68c0\u67e5\u6e05\u5355\u201d\u3002<\/p>\n\n\n\n
68\u3001\u53ea\u8981\u6d3b\u5f97\u591f\u957f\uff0c\u4f60\u4e00\u5b9a\u4f1a\u72af\u9519\u8bef\u3002<\/p>\n\n\n\n
69\u3001\u6c38\u8fdc\u4fdd\u6301\u9006\u5411\u601d\u7ef4\uff0c\u6362\u4e2a\u89d2\u5ea6\u770b\u95ee\u9898\u3002<\/p>\n\n\n\n
70\u3001\u603b\u662f\u4ee5\u6700\u57fa\u7840\u7684\u65b9\u5f0f\u5bfb\u6c42\u7b54\u6848\u662f\u4e00\u4e2a\u597d\u7684\u4f20\u7edf\uff0c\u5b83\u8282\u7701\u4e86\u5f88\u591a\u65f6\u95f4\u3002<\/p>\n\n\n\n
71\u3001\u6211\u7684\u666e\u4e16\u667a\u6167\u662f\u4e00\u7cfb\u5217\u601d\u7ef4\u6a21\u578b\uff0c\u5b83\u4eec\u50cf\u7f51\u683c\u4e00\u6837\u5e2e\u52a9\u6211\u89e3\u51b3\u5173\u952e\u7684\u5546\u4e1a\u95ee\u9898\u3002<\/p>\n\n\n\n
72\u3001\u597d\u7684\u751f\u610f\u662f\u9053\u5fb7\u7684\u751f\u610f\u3002\u9760\u6b3a\u8bc8\u6765\u8d5a\u94b1\u7684\u751f\u610f\u5fc5\u5c06\u6bc1\u706d\u3002<\/p>\n\n\n\n
73\u3001\u5982\u679c\u4f60\u8ba4\u4e3a\u81ea\u4f1a\u6d3b\u5f88\u4e45\uff0c\u4f60\u5e94\u8be5\u6301\u7eed\u5b66\u4e60\uff0c\u4f60\u4e4b\u524d\u77e5\u9053\u7684\u4e1c\u897f\u6c38\u8fdc\u4e0d\u591f\u3002\u5982\u679c\u4f60\u4e0d\u5b66\u4f1a\u6301\u7eed\u4fee\u6b63\u4f60\u4ece\u5176\u7684\u89c2\u70b9\uff0c\u4f60\u5c31\u4f1a\u50cf\u4e00\u4e2a\u4e00\u6761\u817f\u7684\u4eba\u53c2\u52a0\u201c\u8e22\u5c41\u5c41\u201d\u6e38\u620f\u4e00\u6837\u3002<\/p>\n\n\n\n
74\u3001\u5982\u679c\u628a\u6211\u4eec\u6700\u68d2\u768415\u4e2a\u6295\u8d44\u70b9\u5b50\u62ff\u6389\uff0c\u6211\u4eec\u7684\u4e1a\u7ee9\u5c06\u53d8\u5f97\u5f88\u5e73\u5eb8\u3002\u575a\u6301\u539f\u5219\uff0c\u5728\u673a\u4f1a\u5230\u6765\u65f6\u50cf\u731b\u864e\u4e00\u6837\u6251\u8fc7\u53bb\u3002<\/p>\n\n\n\n
75\u3001\u6211\u9047\u5230\u7684\u4f1f\u5927\u667a\u6167\u90fd\u662f\u5728\u4e66\u4e2d\uff0c\u800c\u975e\u6559\u5ba4\u3002\u6211\u7684\u5bb6\u5ead\u4e5f\u5bf9\u8bfb\u4e66\u5f88\u611f\u5174\u8da3\uff0c\u4ed6\u4eec\u4ece\u7eaa\u5f8b\u3001\u77e5\u8bc6\u548c\u81ea\u5f8b\u4e2d\u83b7\u5f97\u6210\u529f\u3002<\/p>\n\n\n\n
76\u3001\u534e\u5c14\u8857\u6709\u592a\u591a\u7684\u8d22\u5bcc\u548c\u653f\u6cbb\u8d44\u6e90\u3002<\/p>\n\n\n\n
77\u3001\u6211\u5728\u4eca\u5929\u5168\u7403\u4e3b\u8981\u7684\u6148\u5584\u673a\u6784\u8eab\u4e0a\u770b\u5230\u4e86\u592a\u591a\u7684\u611a\u8822\uff0c\u5305\u62ec\u4e16\u754c\u94f6\u884c\u3002\u6211\u8fd8\u662f\u5bf9\u6253\u9020\u4e00\u4e2a\u50cfCostco\u8fd9\u6837\u7684\u521b\u4e1a\u4f01\u4e1a\u66f4\u6709\u4fe1\u5fc3\u3002<\/p>\n\n\n\n
78\u3001\u91d1\u878d\u884d\u751f\u54c1\u662f\u5929\u771f\u6295\u8d44\u8005\u7684\u5c60\u5bb0\u573a\u3002\u8ddf\u5b83\u5bf9\u6bd4\uff0c\u62c9\u65af\u7ef4\u52a0\u65af\u7684\u8d4c\u573a\u8001\u677f\u4eec\u770b\u8d77\u6765\u4eff\u4f5b\u662f\u826f\u6c11\u3002<\/p>\n\n\n\n
79\u3001\u4efb\u4f55\u6709\u9ad8\u989d\u4f63\u91d1\u7684\u5730\u65b9\uff0c\u90fd\u4f1a\u51fa\u73b0\u6b3a\u8bc8\u3002<\/p>\n\n\n\n
80\u3001\u4e00\u4e9b\u4eba\u975e\u5e38\u6e05\u695a\u81ea\u5df1\u7684\u8ba4\u77e5\u8fb9\u754c\uff0c\u56e0\u4e3a\u4ed6\u4eec\u4e0d\u5f97\u4e0d\u8fd9\u4e48\u505a\u3002<\/p>\n\n\n\n
81\u3001\u79cd\u74dc\u5f97\u74dc\uff0c\u79cd\u8c46\u5f97\u8c46\u662f\u81ea\u7136\u754c\u7684\u94c1\u5f8b\u3002<\/p>\n\n\n\n
82\u3001\u4f60\u5fc5\u987b\u5b66\u4e60\u7684\u4e8b\u60c5\uff0c\u662f\u5982\u4f55\u5904\u7406\u90a3\u4e9b\u53ef\u80fd\u6539\u53d8\u4f60\u80dc\u7387\u7684\u9519\u8bef\u548c\u65b0\u4fe1\u606f\u3002\u751f\u6d3b\u5f88\u591a\u65f6\u5019\u50cf\u4e00\u573a\u8d4c\u535a\uff0c\u6709\u65f6\u5019\u8981\u5b66\u4f1a\u653e\u5f03\u624b\u4e0a\u7684\u597d\u724c\u3002<\/p>\n\n\n\n
83\u3001\u751f\u6d3b\u4f1a\u9047\u5230\u5404\u79cd\u6050\u6016\u7684\u3001\u5413\u4eba\u7684\u3001\u4e0d\u516c\u5e73\u7684\u632b\u6298\u3002\u6ca1\u5173\u7cfb\u3002\u4e00\u4e9b\u4eba\u722c\u8d77\u6765\u4e86\uff0c\u4e00\u4e9b\u4eba\u6ca1\u6709\u3002<\/p>\n\n\n\n
84\u3001\u5b54\u5b50\u66f0\u201c\u77e5\u4e4b\u4e3a\u77e5\u4e4b\uff0c\u4e0d\u77e5\u4e3a\u4e0d\u77e5\uff0c\u662f\u77e5\u4e5f\u201d\u3002\u4e9a\u91cc\u58eb\u591a\u5fb7\u548c\u82cf\u683c\u62c9\u5e95\u4e5f\u8bf4\u8fc7\u7c7b\u4f3c\u7684\u8bdd\u3002\u8fd9\u79cd\u80fd\u529b\u662f\u53ef\u4ee5\u6559\u51fa\u6765\u3001\u5b66\u51fa\u6765\u7684\u5417\uff1f\u4e5f\u8bb8\u53ef\u4ee5\uff0c\u5982\u679c\u4f60\u8db3\u591f\u538c\u5026\u6bcf\u5929\u8fc7\u7740\u8d4c\u535a\u4e00\u822c\u7684\u751f\u6d3b\u3002<\/p>\n\n\n\n
85\u3001\u83b7\u53d6\u667a\u6167\u662f\u4e00\u79cd\u9053\u5fb7\u4e49\u52a1\u3002\u4ec5\u51ed\u4f60\u5df2\u7ecf\u77e5\u9053\u7684\u4e1c\u897f\uff0c\u4f60\u65e0\u6cd5\u8d70\u7684\u592a\u8fdc\u3002\u4f60\u9700\u8981\u4f9d\u9760\u4e0d\u65ad\u7684\u5b66\u4e60\uff0c\u624d\u80fd\u5728\u4eba\u751f\u4e2d\u4e0d\u65ad\u7684\u524d\u8fdb\u3002<\/p>\n\n\n\n
86\u3001\u4e07\u80fd\u94a5\u5319\u578b\u7684\u65b9\u6cd5\u5e76\u4e0d\u662f\u597d\u7684\u65b9\u6cd5\u3002\u597d\u533b\u9662\u7684\u6587\u5316\u663e\u7136\u548c\u597d\u7535\u5f71\u516c\u53f8\u7684\u6587\u5316\u4e0d\u4e00\u6837\u3002\u5b83\u6ca1\u6709\u5343\u7bc7\u4e00\u5f8b\u7684\u7b54\u6848\u3002<\/p>\n\n\n\n
87\u3001\u5f88\u591a\u4eba\u8ba4\u4e3a\u4eca\u5929\u7684\u653f\u5ba2\u6bd4\u8fc7\u53bb\u7684\u653f\u5ba2\u66f4\u5dee\u3002\u4f46\u5b9e\u9645\u4e0a\uff0c\u6211\u4eec\u53ea\u662f\u5fd8\u8bb0\u4e86\u8fc7\u53bb\u7684\u653f\u5ba2\u6709\u591a\u4e48\u7cdf\u7cd5\u3002<\/p>\n\n\n\n
88\u3001\u5f88\u591a\u4eba\u603b\u662f\u56e0\u4e3a\u7126\u8651\u800c\u70e6\u8e81\u3002\u6210\u529f\u8981\u6c42\u8010\u5fc3\uff0c\u4f46\u5f53\u65f6\u673a\u5230\u6765\u65f6\u5fc5\u987b\u5168\u529b\u800c\u4e0a\u3002<\/p>\n\n\n\n
89\u3001\u4f60\u65e0\u9700\u62e5\u6709\u91cf\u5b50\u7269\u7406\u5b66\u5bb6\u90a3\u6837\u7684\u80fd\u529b\uff0c\u4f60\u53ea\u9700\u8981\u77e5\u9053\u4e00\u4e9b\u7b80\u5355\u7684\u4e8b\u60c5\uff0c\u4f46\u77e5\u9053\u7684\u5f88\u900f\u5f7b\u3002<\/p>\n\n\n\n
90\u3001\u4e0d\u8981\u81ea\u6028\u81ea\u827e\uff0c\u56e0\u4e3a\u90a3\u89e3\u51b3\u4e0d\u4e86\u4efb\u4f55\u95ee\u9898\u3002<\/p>\n\n\n\n
91\u3001\u5982\u4f55\u627e\u5230\u597d\u7684\u914d\u5076\uff1f\u6700\u597d\u7684\u529e\u6cd5\u662f\u53d8\u6210\u4e00\u4e2a\u66f4\u597d\u7684\u4eba\u3002<\/p>\n\n\n\n
92\u3001\u5982\u679c\u4e00\u6837\u4e1c\u897f\u592a\u96be\u4e86\uff0c\u6211\u4eec\u5c31\u7ed5\u8fc7\u5b83\u3002\u8fd8\u6709\u4ec0\u4e48\u6bd4\u8fd9\u66f4\u7b80\u5355\u7684\u5462\uff1f<\/p>\n\n\n\n
93\u3001\u5bf9\u8001\u5e74\u4eba\u800c\u8a00\uff0c\u7528\u5fc3\u5ea6\u8fc7\u7684\u8fd9\u4e00\u8f88\u5b50\u5c31\u662f\u6700\u597d\u7684\u76d4\u7532\u3002<\/p>\n\n\n\n
94\u3001\u6211\u8ba4\u4e3a\u4eba\u4eec\u5e94\u8be5\u63a5\u53d7\u90a3\u4e9b\u81ea\u5df1\u4e0d\u559c\u6b22\u7684\u4e8b\u5b9e\u3002<\/p>\n\n\n\n
95\u3001\u5982\u679c\u4f60\u4e0d\u80fd\u63a5\u53d750%\u7684\u56de\u64a4\uff0c\u4f60\u5c31\u6ce8\u5b9a\u53ea\u80fd\u63a5\u53d7\u5e73\u5eb8\u7684\u6295\u8d44\u8868\u73b0\uff08Munger\u63a5\u53d7BBC\u91c7\u8bbf\u65f6\uff0c\u5173\u4e8e\u91d1\u878d\u5371\u673a\u5982\u662f\u56de\u7b54\uff09\u3002<\/p>\n\n\n\n
96\u3001\u8d5a\u5230\u7684\u7b2c\u4e00\u4e2a10\u4e07\u5200\u7b80\u76f4tm\u723d\u7ffb\u4e86\uff08The first $100,000 is a b!tch\uff09\u3002<\/p>\n\n\n\n
97\u3001\u4e3a\u4e86\u5230\u8fbe\u90a3\u91cc\uff0c\u4f60\u5fc5\u987b\u6301\u7eed\u7684\u50a8\u84c4\u3002\u53d8\u5f97\u5bcc\u6709\u5c31\u50cf\u6301\u7eed\u6eda\u96ea\u7403\u4e00\u6837\u3002\u6700\u597d\u7684\u529e\u6cd5\u662f\u7ad9\u5728\u4e00\u6761\u5f88\u957f\u7684\u96ea\u9053\u4e0a\u5e76\u6301\u7eed\u6eda\u5f88\u4e45\u3002\u957f\u5bff\u662f\u6709\u5e2e\u52a9\u7684\u3002<\/p>\n\n\n\n
98\u3001\u590d\u5229\u7684\u7b2c\u4e00\u539f\u5219\uff1a\u975e\u5fc5\u8981\uff0c\u4e0d\u6253\u65ad\u3002<\/p>\n\n\n\n
99\u3001\u5bf9\u4e8e\u624b\u6301\u9524\u5b50\u7684\u4eba\uff0c\u4efb\u4f55\u4e8b\u60c5\u90fd\u50cf\u9489\u5b50\u3002<\/p>\n\n\n\n
Degg_GlobalMacroFin 23-1-3 22:36 \u53d1\u5e03\u4e8e \u5317\u4eac \u6765\u81ea \u5fae\u535a\u7f51\u9875\u7248
https:\/\/weibo.com\/2453509265\/4853955425469945<\/p>\n","protected":false},"excerpt":{"rendered":"
99\u5c81\u8292\u683c\u768499\u53e5\u540d\u8a00 \u524d\u4e24\u5929\u662fCharlie Munger 99\u5c81\u751f\u65e5\u3002\u4f5c\u4e3a\u5168\u7403\u6700\u53d7\u4eba\u5c0a\u91cd\u7684\u6295\u8d44\u8005\u4e4b\u4e00\uff0c\u4ed6\u7559 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[26,48],"class_list":["post-6574","post","type-post","status-publish","format-standard","hentry","category-investment","tag-26","tag-48"],"_links":{"self":[{"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6574"}],"version-history":[{"count":0,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/6574\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.invbus.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}