{"id":24775,"date":"2023-01-10T23:56:00","date_gmt":"2023-01-10T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=24775"},"modified":"2025-03-23T20:18:38","modified_gmt":"2025-03-23T12:18:38","slug":"%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/","title":{"rendered":"\u5e02\u5834\u6ce2\u52d5\u662f\u6295\u8cc7\u4eba\u7684\u670b\u53cb"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"\u986f\u793a\/\u96b1\u85cf\u5167\u5bb9\u76ee\u9304\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/#%E8%82%A1%E5%B8%82%E5%94%AF%E4%B8%80%E8%83%BD%E7%A2%BA%E5%AE%9A%E7%9A%84%E5%B0%B1%E6%98%AF%E4%B8%8D%E7%A2%BA%E5%AE%9A%E6%80%A7\" >\u80a1\u5e02\u552f\u4e00\u80fd\u78ba\u5b9a\u7684\u5c31\u662f\u4e0d\u78ba\u5b9a\u6027<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/#%E5%B8%82%E5%A0%B4%E5%85%88%E7%94%9F\" >\u5e02\u5834\u5148\u751f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/#%E9%87%91%E8%9E%8D%E7%90%86%E8%AB%96%E7%9A%84%E5%81%87%E8%A8%AD%E4%B8%8D%E5%90%88%E7%90%86\" >\u91d1\u878d\u7406\u8ad6\u7684\u5047\u8a2d\u4e0d\u5408\u7406<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/#%E5%9C%A8%E6%99%AF%E6%B0%A3%E4%B8%8D%E4%BD%B3%E6%99%82%E6%89%BE%E5%B0%8B%E6%A9%9F%E6%9C%83\" >\u5728\u666f\u6c23\u4e0d\u4f73\u6642\u627e\u5c0b\u6a5f\u6703<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/#%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87%E6%89%8D%E8%83%BD%E7%8D%B2%E5%8B%9D\" >\u9577\u671f\u6295\u8cc7\u624d\u80fd\u7372\u52dd<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/#%E8%A1%B0%E9%80%80%E7%B5%82%E7%A9%B6%E6%9C%83%E7%B5%90%E6%9D%9F\" >\u8870\u9000\u7d42\u7a76\u6703\u7d50\u675f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/#%E8%82%A1%E5%B8%82%E5%B4%A9%E7%9B%A4%E6%82%A8%E6%87%89%E8%A9%B2%E9%AB%98%E8%88%88%E6%89%8D%E5%B0%8D\" >\u80a1\u5e02\u5d29\u76e4\u60a8\u61c9\u8a72\u9ad8\u8208\u624d\u5c0d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/#%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\" >\u76f8\u95dc\u6587\u7ae0<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%82%A1%E5%B8%82%E5%94%AF%E4%B8%80%E8%83%BD%E7%A2%BA%E5%AE%9A%E7%9A%84%E5%B0%B1%E6%98%AF%E4%B8%8D%E7%A2%BA%E5%AE%9A%E6%80%A7\"><\/span>\u80a1\u5e02\u552f\u4e00\u80fd\u78ba\u5b9a\u7684\u5c31\u662f\u4e0d\u78ba\u5b9a\u6027<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u76f8\u4fe1\u5927\u591a\u6578\u4eba\u90fd\u807d\u904e\u4e00\u500b\u6545\u4e8b\u3002\u6709\u500b\u5e74\u8f15\u4eba\u6514\u4f4f\u5927\u540d\u9f0e\u9f0e\u7684\u83ef\u723e\u8857\u91d1\u878d\u9245\u5b50\u6469\u6839\u9280\u884c\u7684\u5275\u8fa6\u4eba\u7d04\u7ff0\uff0e\u6469\u6839\uff08John Pierpont Morgan\uff09\uff0c\u5411\u6469\u6839\u767c\u554f\uff1a\u300c\u4f60\u89ba\u5f97\u80a1\u5e02\u63a5\u4e0b\u4f86\u600e\u9ebc\u8b8a\u5316\u3002\u300d\u6469\u6839\u56de\u7b54\u8aaa\u300c\u5e02\u5834\u6703\u6ce2\u52d5\u300d\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%B8%82%E5%A0%B4%E5%85%88%E7%94%9F\"><\/span>\u5e02\u5834\u5148\u751f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u845b\u62c9\u6f22\u5728\u4ed6\u7684\u540d\u8457\u300a<a href=\"https:\/\/www.amazon.com\/Intelligent-Investor-Definitive-Investing-Essentials\/dp\/0060555661\" target=\"_blank\" rel=\"noreferrer noopener\">\u667a\u6167\u578b\u80a1\u7968\u6295\u8cc7\u4eba<\/a>\u300b\u4e2d\u95e1\u8ff0\u4e86\u4e00\u500b\u89c0\u9ede\uff1a\u5c0d\u8070\u660e\u7684\u6295\u8cc7\u8005\u4f86\u8aaa\uff0c\u80a1\u50f9\u7684\u96a8\u6a5f\u6027\u662f\u4e00\u4ef6\u597d\u4e8b\uff0c\u800c\u4e26\u975e\u4e00\u4ef6\u58de\u4e8b\u3002&nbsp;\u6700\u6709\u540d\u7684\u5c31\u662f\u4ed6\u4f7f\u7528\u4e86\u4e00\u4f4d\u6bcf\u5929\u6703\u96a8\u6a5f\u8cb7\u5165\u548c\u8ce3\u51fa\u7684\u300c\u5e02\u5834\u5148\u751f\u300d\u7684\u6bd4\u55bb\u3002<\/p>\n\n\n\n<p>\u5df4\u83f2\u7279\u7528\u68d2\u7403\u4f86\u6bd4\u55bb\u66f4\u70ba\u8cbc\u5207\uff1a\u300c\u6211\u628a\u6295\u8cc7\u7a31\u70ba\u4e16\u754c\u4e0a\u6700\u5049\u5927\u7684\u751f\u610f\u3002\u300d\u4ed6\u8aaa\uff1a\u300c\u56e0\u70ba\u4f60\u6c38\u9060\u4e0d\u5fc5\u88ab\u8feb\u63ee\u68d2\u3002\u300c\u4f60\u7ad9\u5728\u672c\u58d8\u4e0a\uff0c\u6295\u624b\u6295\u7d66\u4f60\u4e00\u984647\u5143\u7684\u901a\u7528\u6c7d\u8eca\uff01 39\u5143\u7684\u7f8e\u570b\u92fc\u9435\uff01\u6295\u624b\u6c38\u9060\u7121\u6cd5\u628a\u4f60\u4e09\u632f\u3002 \u9664\u4e86\u5931\u53bb\u8cfc\u8cb7\u7684\u6a5f\u6703\u5916\uff0c\u4e0d\u6703\u6709\u4efb\u4f55\u8655\u7f70\u3002\u4f60\u53ef\u4ee5\u4e00\u76f4\u7b49\u5f85\u4f60\u559c\u6b61\u7684\u7403\u4f86\u624d\u63ee\u68d2\uff1b\u7576\u5b88\u5099\u8005\u6253\u778c\u7761\u6642\uff0c\u4f60\u5c31\u628a\u7403\u6253\u5230\u90a3\u88e1\u5c31\u884c\u4e86\u3002\u300d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%87%91%E8%9E%8D%E7%90%86%E8%AB%96%E7%9A%84%E5%81%87%E8%A8%AD%E4%B8%8D%E5%90%88%E7%90%86\"><\/span>\u91d1\u878d\u7406\u8ad6\u7684\u5047\u8a2d\u4e0d\u5408\u7406<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5df4\u83f2\u7279\u548c\u897f\u8499\u65af\u90fd\u8511\u8996\u57fa\u65bc\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/10\/07\/%e6%95%88%e7%8e%87%e5%b8%82%e5%a0%b4\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6548\u7387\u5e02\u5834\u5047\u8aaa<\/a>\u300b\u6216\u662f\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/10\/13\/%e7%8f%be%e4%bb%a3%e6%8a%95%e8%b3%87%e7%b5%84%e5%90%88%e7%90%86%e8%ab%96%e7%82%ba%e4%bd%95%e4%b8%8d%e5%90%88%e7%90%86%ef%bc%9f\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u73fe\u4ee3\u6295\u8cc7\u7d44\u5408\u7406\u8ad6<\/a>\u300b\u3001\u8cc7\u672c\u8cc7\u7522\u5b9a\u50f9\u6a21\u578b\uff0c\u751a\u81f3\u662f\u4e3b\u8981\u7684\u91d1\u878d\u7406\u8ad6\u9ad4\u7cfb\u3002\u4f46\u6700\u91cd\u8981\u7684\u662f\uff0c\u4ed6\u5011\u8b49\u660e\u4ed6\u5011\u6210\u529f\u4e86\uff0c\u800c\u4e14\u662f\u53d6\u5f97\u9577\u671f\u7684\u6210\u529f\u3002<\/p>\n\n\n\n<p>\u300a\u6548\u7387\u5e02\u5834\u5047\u8aaa\u70ba\u4ec0\u9ebc\u4e0d\u5408\u7406\uff1f\u300b\u6216\u662f\u300a\u73fe\u4ee3\u6295\u8cc7\u7d44\u5408\u7406\u8ad6\u300b\u3001\u8cc7\u672c\u8cc7\u7522\u5b9a\u50f9\u6a21\u578b\u5982\u679c\u771f\u7684\u6709\u7528\uff0c\u90a3\u5c31\u610f\u5473\u8457\u5df4\u83f2\u7279\u548c\u897f\u8499\u65af\u7684\u6295\u8cc7\u6210\u529f\u662f\u4e0d\u53ef\u80fd\u5b58\u5728\u7684\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%9C%A8%E6%99%AF%E6%B0%A3%E4%B8%8D%E4%BD%B3%E6%99%82%E6%89%BE%E5%B0%8B%E6%A9%9F%E6%9C%83\"><\/span>\u5728\u666f\u6c23\u4e0d\u4f73\u6642\u627e\u5c0b\u6a5f\u6703<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5df4\u83f2\u7279\u4fe1\u5949\u300c\u6ce2\u52d5\u6027\u662f\u6295\u8cc7\u8005\u7684\u670b\u53cb\u300d\uff0c\u800c\u4e0d\u662f\u5982\u9019\u4e9b\u91d1\u878d\u7406\u8ad6\u6240\u4e3b\u5f35\u7684\u4e00\u5473\u5730\u898f\u907f\u98a8\u96aa\uff0c\u9019\u662f\u7406\u8ad6\u548c\u5be6\u52d9\u6700\u5927\u7684\u5dee\u5225\u3002\u6cd5\u862d\u514b\u00b7\u5948\u7279\uff08Frank Knight\uff09\u5728\u6210\u540d\u4f5c\u300a<a href=\"https:\/\/www.amazon.com\/Risk-Uncertainty-Profit-Frank-Knight\/dp\/1614276390\" target=\"_blank\" rel=\"noopener\">\u98a8\u96aa\u3001\u4e0d\u78ba\u5b9a\u6027\u8207\u5229\u6f64<\/a>\u300b\u88e1\u5c31\u8868\u793a\u904e\u300c\u6975\u7aef\u7684\u4e0d\u78ba\u5b9a\u6027\uff08\u800c\u4e0d\u50c5\u50c5\u662f\u98a8\u96aa\uff09\u5275\u9020\u4e86\u7372\u5229\u6a5f\u6703\uff0c\u56e0\u70ba\u5b83\u5141\u8a31\u4f01\u696d\u5bb6\u505a\u51fa\u4e0d\u57fa\u65bc\u53ef\u9810\u6e2c\u7d50\u679c\u7684\u6c7a\u7b56\uff0c\u9019\u53ef\u80fd\u6703\u5e36\u4f86\u66f4\u9ad8\u7684\u56de\u5831\u300d\uff0c\u6709\u4e9b\u4eba\u7a4d\u7d2f\u7684\u5de8\u984d\u8ca1\u5bcc\u8b49\u660e\u4e86\u4ed6\u7684\u6b63\u78ba\u6027\u3002<\/p>\n\n\n\n<p><a href=\"https:\/\/berkshirehathaway.com\/letters\/1997.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u7279\u5728\u4ed6\u76841997\u5e74\u7684\u80a1\u6771\u4fe1<\/a>\u4e2d\u4e5f\u66fe\u63d0\u904e\uff1a\u300c\u8a18\u5f971979\u5e74\u7684\u590f\u5929\uff0c\u5728\u7576\u6642\u7684\u80a1\u7968\u5e02\u5834\u7576\u4e2d\uff0c\u4fbf\u5b9c\u7684\u80a1\u7968\u5782\u624b\u53ef\u5f97\uff0c\u70ba\u6b64<a href=\"https:\/\/www.forbes.com\/2008\/11\/08\/buffett-forbes-article-markets-cx_pm-1107stocks.html?sh=755a2ef0765d\" target=\"_blank\" rel=\"noreferrer noopener\">\u6211\u7279\u5730\u5728\u5bcc\u6bd4\u58eb\u5beb\u4e86\u4e00\u7bc7\u6587\u7ae0\uff0c\u540d\u70ba&#8221;\u5728\u80a1\u7968\u5e02\u5834\u4e2d\uff0c\u60f3\u8b93\u5927\u5bb6\u6709\u6a02\u89c0\u7684\u5171\u8b58\u662f\u8981\u4ed8\u51fa\u76f8\u7576\u5927\u7684\u4ee3\u50f9\u7684&#8221;<\/a>\uff0c\u7576\u6642\u5e02\u5834\u7030\u6f2b\u8457\u61f7\u7591\u8207\u60b2\u89c0\u7684\u60c5\u7dd2\uff0c\u4e0d\u904e\u7576\u6642\u6211\u529b\u6392\u773e\u8b70\u8a8d\u70ba\u5c0d\u65bc\u9019\u7a2e\u73fe\u8c61\u6295\u8cc7\u4eba\u61c9\u8a72\u8981\u611f\u5230\u9ad8\u8208\uff0c\u56e0\u70ba\u60b2\u89c0\u7684\u60c5\u7dd2\u4f7f\u5f97\u8a31\u591a\u516c\u53f8\u7684\u80a1\u50f9\u8dcc\u5230\u76f8\u7576\u5438\u5f15\u4eba\u7684\u50f9\u4f4d\u4e86\u3002\u300d<\/p>\n\n\n\n<p>\u5df4\u83f2\u7279\u81ea\u5df1\u4e5f\u8aaa\u904e\u4e00\u53e5\u985e\u4f3c\u7684\u8a71\u300c\u5e02\u5834\u6ce2\u52d5\u70ba\u6295\u8cc7\u4eba\u63d0\u4f9b\u8cb7\u5165\u7684\u6a5f\u6703\u300d\u3002\u5df4\u83f2\u7279\u57282008\u5e74\u65bc\u7d10\u7d04\u6642\u5831\u64b0\u6587\u6307\u51fa\uff1a\u300c\u58de\u6d88\u606f\u662f\u6295\u8cc7\u4eba\u6700\u597d\u7684\u670b\u53cb\uff0c\u5b83\u8b93\u4f60\u7528\u8f03\u4f4e\u7684\u50f9\u683c\u8cb7\u9032\u7f8e\u570b\u7684\u672a\u4f86\u3002\u300d<\/p>\n\n\n\n<p>\u4ed6\u4e5f\u57282016\u5e74\u7684\u5e74\u5ea6\u81f4\u80a1\u6771\u4fe1\u51fd\u8868\u793a\uff0c\u7576\u5929\u7a7a\u6eff\u5e03\u70cf\u96f2\u5f8c\uff0c\u53ef\u80fd\u6703\u964d\u4e0b\u9ec3\u91d1\u96e8\uff0c\u300c\u5728\u9019\u7a2e\u4ee4\u4eba\u9a5a\u61fc\u7684\u6642\u671f\uff0c\u4f60\u6c38\u9060\u4e0d\u80fd\u5fd8\u8a18\u5169\u4ef6\u4e8b\uff1b\u5176\u4e00\uff0c\u5e02\u5834\u6050\u614c\u662f\u6295\u8cc7\u4eba\u7684\u670b\u53cb\uff0c\u56e0\u70ba\u9019\u80fd\u5e36\u4f86\u4fbf\u5b9c\u7684\u8cb7\u9032\u6a5f\u6703\u3002\u5176\u4e8c\uff0c\u500b\u4eba\u7684\u6050\u614c\u662f\u81ea\u5df1\u7684\u6575\u4eba\uff0c\u9019\u7a2e\u6050\u614c\u53ef\u80fd\u6beb\u7121\u6839\u64da\u3002\u300d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%95%B7%E6%9C%9F%E6%8A%95%E8%B3%87%E6%89%8D%E8%83%BD%E7%8D%B2%E5%8B%9D\"><\/span>\u9577\u671f\u6295\u8cc7\u624d\u80fd\u7372\u52dd<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5df4\u83f2\u7279\u57282016\u5e74\u80a1\u6771\u4fe1\u4e2d\u4e5f\u63d0\u904e\uff0c\u6295\u8cc7\u4eba\u82e5\u80fd\u907f\u514d\u7522\u751f\u9ad8\u6602\u4e14\u4e0d\u5fc5\u8981\u7684\u6210\u672c\uff0c\u9577\u671f\u6295\u8cc7\u591a\u5bb6\u8ca1\u52d9\u64cd\u4f5c\u4fdd\u5b88\u7684\u7f8e\u570b\u5927\u4f01\u696d\uff0c\u52e2\u5fc5\u6703\u6709\u4e0d\u932f\u7684\u5831\u916c\u3002<\/p>\n\n\n\n<p>\u4ed6\u4e5f\u8868\u793a\uff0c\u4f01\u696d\u96e3\u514d\u6703\u53d7\u7372\u5229\u4e0d\u4f73\u885d\u64ca\uff0c\u4f46\u5927\u4f01\u696d\u7e3d\u6703\u5728\u4e94\u5e74\u3001\u5341\u5e74\u751a\u81f320\u5e74\u5f8c\u7de0\u9020\u7372\u5229\u65b0\u7337\uff0c\u300c\u6211\u5011\u96e3\u4ee5\u77e5\u6089\u7d93\u6fdf\u662f\u5426\u53ca\u4f55\u6642\u6703\u9677\u5165\u8870\u9000\uff0c\u4e5f\u7121\u6cd5\u77e5\u9053\u8870\u9000\u5c07\u6301\u7e8c\u591a\u4e45\uff0c\u4f46\u9451\u5f80\u77e5\u4f86\uff0c\u7d93\u6fdf\u7e3d\u662f\u6703\u5fa9\u7526\u3002\u300d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%A1%B0%E9%80%80%E7%B5%82%E7%A9%B6%E6%9C%83%E7%B5%90%E6%9D%9F\"><\/span>\u8870\u9000\u7d42\u7a76\u6703\u7d50\u675f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u7576\u7f8e\u570b\u570b\u5bb6\u7d93\u6fdf\u7814\u7a76\u9662\u5ba3\u5e03\u8870\u9000\u5df2\u57282009\u5e746\u6708\u7d50\u675f\u6642\uff0c<a href=\"https:\/\/www.cnbc.com\/id\/39320992\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u7279\u57282010\u5e74\u63a5\u53d7CNBC\u63a1\u8a2a<\/a>\u6642\u8aaa\uff1a\u300c\u6211\u5011\u4ecd\u672a\u8d70\u51fa\u8870\u9000\uff0c\u6211\u5011\u9084\u6703\u9677\u5728\u8870\u9000\u4e00\u6bb5\u6642\u9593\uff0c\u4f46\u6211\u5011\u7d42\u5c07\u64fa\u812b\u8870\u9000\u3002\u300d\u4ed6\u5c0d\u8870\u9000\u7d50\u675f\u7684\u5b9a\u7fa9\u662f\uff0c\u5be6\u8cea\u4eba\u5747\u570b\u5167\u751f\u7522\u6bdb\u984d\uff08GDP\uff09\u56de\u5230\u8870\u9000\u524d\u7684\u6c34\u6e96\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%82%A1%E5%B8%82%E5%B4%A9%E7%9B%A4%E6%82%A8%E6%87%89%E8%A9%B2%E9%AB%98%E8%88%88%E6%89%8D%E5%B0%8D\"><\/span>\u80a1\u5e02\u5d29\u76e4\u60a8\u61c9\u8a72\u9ad8\u8208\u624d\u5c0d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/berkshirehathaway.com\/letters\/1996.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u7279\u57281996\u5e74\u7d66\u80a1\u6771\u7684\u4fe1<\/a>\u4e2d\u5beb\u9053\uff1a\u300c\u5982\u679c\u4f60\u4e0d\u9858\u610f\u64c1\u6709\u4e00\u652f\u80a1\u796810\u5e74\uff0c\u751a\u81f3\u4e0d\u5fc5\u8003\u616e\u64c1\u6709\u5b8310\u5206\u9418\u3002\u300d\uff1b\u4ed6\u66f4\u9032\u4e00\u6b65\u8868\u793a\uff1a\u300c\u8cb7\u80a1\u7968\u6642\uff0c\u61c9\u8a72\u5047\u8a2d\u660e\u5929\u958b\u59cb\u80a1\u5e02\u8981\u4f11\u5e02\u4e09\u81f3\u4e94\u5e74\u3002\u300d<\/p>\n\n\n\n<p><a href=\"https:\/\/berkshirehathaway.com\/letters\/1997.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u7279\u57281997\u5e74\u7d66\u80a1\u6771\u7684\u4fe1<\/a>\u4e2d\u5beb\u9053\uff1a\u300c\u7576\u80a1\u50f9\u6f32\u6642\u4ed6\u5011\u6703\u611f\u5230\u9ad8\u8208\uff0c\u80a1\u50f9\u8dcc\u6642\u53cd\u800c\u89ba\u5f97\u6cae\u55aa\uff0c\u9019\u7a2e\u611f\u89ba\u4e0d\u7b49\u65bc\u662f\u7576\u4f60\u53bb\u8cb7\u6f22\u5821\u5403\u6642\uff0c\u770b\u5230\u6f22\u5821\u6f32\u50f9\u537b\u6b23\u559c\u82e5\u72c2\uff0c\u9019\u6a23\u7684\u53cd\u61c9\u5be6\u5728\u662f\u6c92\u6709\u4ec0\u9ebc\u9053\u7406\uff0c\u53ea\u6709\u5728\u77ed\u671f\u9593\u6e96\u5099\u8ce3\u80a1\u7968\u7684\u4eba\u624d\u61c9\u8a72\u611f\u5230\u9ad8\u8208\uff0c\u6e96\u5099\u8cb7\u80a1\u7968\u7684\u4eba\u61c9\u8a72\u671f\u5f85\u7684\u662f\u80a1\u50f9\u7684\u4e0b\u6ed1\u3002\u300d<\/p>\n\n\n\n<p>\u9664\u975e\u60a8\u660e\u5929\u8981\u8ce3\u80a1\u7968\uff0c\u5426\u5247\u80a1\u50f9\u5c0d\u60a8\u6c92\u6709\u592a\u5927\u7684\u610f\u7fa9\u3002\u70ba\u4ec0\u9ebc\u5462\uff1f\u56e0\u70ba\u8dcc\u6108\u6df1\uff0c\u80a1\u7968\u7684\u5b89\u5168\u908a\u969b\u6108\u9ad8\uff0c\u6295\u8cc7\u8667\u5927\u9322\u7684\u6a5f\u7387\u6108\u4f4e\uff0c\u9019\u9ede\u5f88\u5bb9\u6613\u7406\u89e3\u3002\u9019\u4e5f\u662f\u70ba\u4f55\u5df4\u83f2\u7279\u57282004\u5e74\u7684\u80a1\u6771\u4fe1\u88e1\u5beb\u9053\uff1a\u300c\u5225\u4eba\u8caa\u5a6a\u6642\u6211\u5011\u8981\u6050\u61fc\uff0c\u7576\u5225\u4eba\u6050\u61fc\u6642\u6211\u5011\u8981\u8caa\u5a6a\u300d\u7684\u7531\u4f86\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"207\" height=\"119\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/09\/images-1600x1200-1.jpg\" alt=\"\u5e02\u5834\u6ce2\u52d5\" class=\"wp-image-24807\"\/><figcaption class=\"wp-element-caption\">Credit: dreamstime.com<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\"><\/span>\u76f8\u95dc\u6587\u7ae0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/25\/%E5%A6%82%E4%BD%95%E9%9D%A2%E5%B0%8D%E7%9B%AE%E5%89%8D%E8%82%A1%E5%B8%82%E5%B4%A9%E7%9B%A4%E6%88%96%E5%A4%A7%E5%B9%85%E5%9B%9E%E6%AA%94\/\">\u5982\u4f55\u9762\u5c0d\u80a1\u5e02\u5d29\u76e4\u6216\u5927\u5e45\u56de\u6a94\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/25\/%E4%BB%80%E9%BA%BC%E6%99%82%E5%80%99%E4%BB%A3%E8%A1%A8%E8%82%A1%E5%B8%82%E4%B8%8B%E8%B7%8C%E5%BE%97%E5%A4%A0%E6%B7%B1%E4%BA%86\/\">\u4ec0\u9ebc\u6642\u5019\u4ee3\u8868\u80a1\u5e02\u4e0b\u8dcc\u5f97\u5920\u6df1\u4e86\uff0c2\u500b\u570b\u5bb6\u76843\u500b\u8a0a\u865f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/05\/%E8%82%A1%E5%B8%82%E5%B4%A9%E7%9B%A4%E6%99%82%E8%A6%81%E5%81%9A%E5%93%AA%E4%BA%9B%E4%BA%8B%EF%BC%9F\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u80a1\u5e02\u5d29\u76e4\u6642\u7684\u5f85\u8fa6\u4e8b\u9805<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/10\/12\/%E8%82%A1%E5%B8%82%E5%B4%A9%E7%9B%A4%E6%8A%95%E8%B3%87%E4%BA%BA%E6%87%89%E8%A9%B2%E9%AB%98%E8%88%88%E6%89%8D%E5%B0%8D\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u80a1\u5e02\u5d29\u76e4\u6295\u8cc7\u4eba\u61c9\u8a72\u9ad8\u8208\u624d\u5c0d<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/06\/20\/%E7%82%BA%E4%BD%952020%E5%B9%B4%E7%BE%8E%E8%82%A1%E5%B4%A9%E7%9B%A4%EF%BC%8C%E8%A8%B1%E5%A4%9A%E6%95%A3%E6%88%B6%E8%B3%BA%E5%88%B0%E9%8C%A2%EF%BC%8C%E4%BD%86%E8%8F%AF%E7%88%BE%E8%A1%97%E6%B2%92\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u70ba\u4f552020\u5e74\u7f8e\u80a1\u5d29\u76e4\uff0c\u6563\u6236\u8cfa\u9322\u8005\u6bd4\u83ef\u723e\u8857\u591a\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/10\/%e5%b8%82%e5%a0%b4%e6%b3%a2%e5%8b%95%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e6%9c%8b%e5%8f%8b\/\">\u5e02\u5834\u6ce2\u52d5\u662f\u6295\u8cc7\u4eba\u7684\u670b\u53cb<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a 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