{"id":30489,"date":"2023-07-10T23:56:00","date_gmt":"2023-07-10T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=30489"},"modified":"2025-03-23T13:07:38","modified_gmt":"2025-03-23T05:07:38","slug":"%e8%b3%87%e9%87%91%e5%a4%a7%e5%b0%8f%e5%92%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e9%97%9c%e4%bf%82","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/07\/10\/%e8%b3%87%e9%87%91%e5%a4%a7%e5%b0%8f%e5%92%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e9%97%9c%e4%bf%82\/","title":{"rendered":"\u8cc7\u91d1\u5927\u5c0f\u548c\u6295\u8cc7\u5831\u916c\u7387\u7684\u95dc\u4fc2"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 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\/07\/10\/%e8%b3%87%e9%87%91%e5%a4%a7%e5%b0%8f%e5%92%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e9%97%9c%e4%bf%82\/#%E5%A4%A7%E6%95%B8%E6%B3%95%E5%89%87\" >\u5927\u6578\u6cd5\u5247<\/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\/07\/10\/%e8%b3%87%e9%87%91%e5%a4%a7%e5%b0%8f%e5%92%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e9%97%9c%e4%bf%82\/#%E6%8A%95%E8%B3%87%E5%A4%A7%E5%B8%AB%E5%92%8C%E4%B8%80%E8%88%AC%E4%BA%BA%E7%9A%84%E5%B7%AE%E5%88%A5\" >\u6295\u8cc7\u5927\u5e2b\u548c\u4e00\u822c\u4eba\u7684\u5dee\u5225<\/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\/07\/10\/%e8%b3%87%e9%87%91%e5%a4%a7%e5%b0%8f%e5%92%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e9%97%9c%e4%bf%82\/#%E5%A5%BD%E4%B8%BB%E6%84%8F%E4%B8%80%E5%B9%B4%E5%8F%AA%E8%A6%81%E4%B8%80%E5%80%8B%E5%B0%B1%E5%A4%A0%E4%BA%86\" >\u597d\u4e3b\u610f\u4e00\u5e74\u53ea\u8981\u4e00\u500b\u5c31\u5920\u4e86<\/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\/07\/10\/%e8%b3%87%e9%87%91%e5%a4%a7%e5%b0%8f%e5%92%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e9%97%9c%e4%bf%82\/#%E5%B7%B4%E8%8F%B2%E7%89%B9%E7%9A%84%E7%9C%8B%E6%B3%95\" >\u5df4\u83f2\u7279\u7684\u770b\u6cd5<\/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\/07\/10\/%e8%b3%87%e9%87%91%e5%a4%a7%e5%b0%8f%e5%92%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e9%97%9c%e4%bf%82\/#%E7%B5%90%E8%AA%9E\" >\u7d50\u8a9e<\/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\/07\/10\/%e8%b3%87%e9%87%91%e5%a4%a7%e5%b0%8f%e5%92%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e9%97%9c%e4%bf%82\/#%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=\"%E5%A4%A7%E6%95%B8%E6%B3%95%E5%89%87\"><\/span>\u5927\u6578\u6cd5\u5247<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u6211\u5728\u5148\u524d\u767c\u8868\u7684\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/14\/%e9%a0%82%e5%b0%96%e6%8a%95%e8%b3%87%e5%a4%a7%e5%b8%ab%e5%80%91%e7%9a%84%e7%94%9f%e6%b6%af%e5%b9%b4%e5%8c%96%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u9802\u5c16\u6295\u8cc7\u5927\u5e2b\u5011\u7684\u751f\u6daf\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387<\/a>\u300b\u4e00\u6587\u4e2d\uff0c\u66fe\u5217\u51fa\u56db\u4f4d\u70ba\u4e16\u4eba\u8a8d\u53ef\u7684\u9802\u5c16\u6295\u8cc7\u5927\u5e2b\u5011\u7684\u751f\u6daf\u6295\u8cc7\u7684\u5e74\u5316\u5831\u916c\u7387\u3002\u9019\u56db\u4f4d\u6295\u8cc7\u5927\u5e2b\u4e4b\u6240\u4ee5\u53d7\u4eba\u63a8\u5d07\uff0c\u6709\u5f88\u591a\u539f\u56e0\uff0c\u5728\u6b64\u4e0d\u518d\u91cd\u8986\u3002\u9664\u4e86\u9a5a\u4eba\u7684\u5b8c\u6574\u751f\u6daf\u5e74\u5316\u5831\u916c\u7387\u5916\uff0c\u53e6\u5916\u4e00\u9ede\u662f\u4ed6\u5011\u6bcf\u4e00\u4f4d\u6240\u638c\u7ba1\u7684\u8cc7\u91d1\uff0c\u4e00\u76f4\u96a8\u8457\u4ed6\u5011\u7684\u6295\u8cc7\u751f\u6daf\u5feb\u901f\u589e\u52a0\uff0c\u6bcf\u4e00\u4f4d\u7684\u6295\u8cc7\u8cc7\u91d1\u90fd\u662f\u5343\u5104\u7f8e\u91d1\u4ee5\u4e0a\u7684\u7b49\u7d1a\u3002<\/p>\n\n\n\n<p>\u5df4\u83f2\u7279\u4e5f\u66fe\u7d93\u611f\u5606\uff0c\u70ba\u4e86\u8b93\u6ce2\u514b\u590f\u7684\u6295\u8cc7\u7e3e\u6548\u660e\u986f\u6539\u5584\uff0c\u6211\u5011\u9700\u8981\u5927\u8c61\u7b49\u7d1a\u7684\u6295\u8cc7\u6a19\u7684\u3002\u5728<a href=\"https:\/\/berkshirehathaway.com\/letters\/1994.html\" target=\"_blank\" rel=\"noreferrer noopener\">1994\u5e74\u7684\u80a1\u6771\u4fe1<\/a>\u88e1\uff0c\u5df4\u83f2\u7279\u66fe\u6709\u5982\u4e0b\u7684\u8868\u793a\uff1a<\/p>\n\n\n\n<p><em>\u7136\u800c\u76ae\u593e\u5b50\u592a\u539a\uff0c\u537b\u662f\u6295\u8cc7\u6210\u679c\u7684\u5927\u6575\uff0c\u76ee\u524d\u6ce2\u514b\u590f\u7684\u6de8\u503c\u5df2\u9ad8\u9054119\u5104\u7f8e\u5143\uff0c\u9084\u8a18\u5f97\u7576\u521d\u67e5\u7406\u8ddf\u6211\u958b\u59cb\u7d93\u71df\u9019\u5bb6\u516c\u53f8\u6642\uff0c\u516c\u53f8\u7684\u6de8\u503c\u53ea\u67092,200\u842c\u7f8e\u5143\uff0c\u96d6\u7136\u9084\u662f\u4e00\u6a23\u6709\u8a31\u591a\u597d\u7684\u516c\u53f8\uff0c\u4f46\u537b\u5f88\u96e3\u5728\u627e\u5230\u898f\u6a21\u5920\u5927\u7684\u5c0d\u8c61\uff0c(\u5c31\u50cf\u662f\u67e5\u7406\u5e38\u5e38\u8aaa\u7684\uff0c\u5982\u679c\u4e00\u4ef6\u4e8b\u60c5\u4e0d\u503c\u5f97\u53bb\u505a\uff0c\u90a3\u9ebc\u5c31\u7b97\u662f\u4f60\u628a\u5b83\u505a\u7684\u518d\u597d\u4e5f\u6c92\u6709\u7528) \u73fe\u5728\u6211\u5011\u53ea\u8003\u616e\u8cb7\u9032\u81f3\u5c11\u4e00\u5104\u7f8e\u5143\u4ee5\u4e0a\u7684\u6295\u8cc7\uff0c\u5728\u9019\u6a23\u7684\u9ad8\u9580\u6abb\u4e0b\uff0c<em>\u6ce2\u514b\u590f<\/em>\u7684\u6295\u8cc7\u4e16\u754c\uff0c\u4e00\u4e0b\u5b50\u7e2e\u5c0f\u4e86\u8a31\u591a\u3002<\/em><\/p>\n\n\n\n<p><em>\u5118\u7ba1\u5982\u6b64\uff0c\u6211\u5011\u9084\u662f\u6703\u5805\u6301\u8b93\u6211\u5011\u6210\u529f\u7684\u65b9\u6cd5\uff0c\u7d55\u5c0d\u4e0d\u6703\u653e\u5bec\u539f\u6709\u7684\u6a19\u6e96\u3002<\/em><\/p>\n\n\n\n<p>\u5728<a href=\"https:\/\/berkshirehathaway.com\/letters\/1995.html\" target=\"_blank\" rel=\"noreferrer noopener\">1995\u5e74\u7684\u80a1\u6771\u4fe1<\/a>\u88e1\uff0c\u5df4\u83f2\u7279\u53c8\u4e0d\u53ad\u5176\u7169\u5730\u5beb\u9053\uff1a<\/p>\n\n\n\n<p><em>\u6211\u5011\u6240\u9762\u81e8\u6700\u5927\u7684\u52a3\u52e2\u662f\u898f\u6a21\u592a\u5927\uff0c\u5728\u65e9\u5e74\uff0c\u6211\u5011\u53ea\u9700\u8981\u597d\u7684\u6295\u8cc7\u65b9\u6848\uff0c\u4f46\u662f\u73fe\u5728\u6211\u5011\u9700\u8981\u7684\u537b\u662f\u53c8&#8221;\u5927&#8221;\u53c8\u597d\u7684\u6295\u8cc7\u65b9\u6848\uff0c\u7136\u800c\u4e0d\u5e78\u7684\u662f\uff0c\u8981\u627e\u5230\u80fd\u5920\u8207\u6ce2\u514b\u767c\u5c55\u901f\u5ea6\u76f8\u5339\u914d\u7684\u516c\u53f8\u7684\u96e3\u5ea6\u65e5\u76ca\u5347\u9ad8\uff0c\u9019\u500b\u554f\u984c\u6301\u7e8c\u5730\u4fb5\u8755\u6211\u5011\u7684\u7af6\u722d\u512a\u52e2\u3002<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E5%A4%A7%E5%B8%AB%E5%92%8C%E4%B8%80%E8%88%AC%E4%BA%BA%E7%9A%84%E5%B7%AE%E5%88%A5\"><\/span>\u6295\u8cc7\u5927\u5e2b\u548c\u4e00\u822c\u4eba\u7684\u5dee\u5225<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5927\u591a\u6578\u7684\u6563\u6236\u90fd\u8a8d\u70ba\u8cc7\u91d1\u5728\u6295\u8cc7\u5831\u916c\u7387\u4e0a\uff0c\u5148\u5929\u4e0a\u4f54\u6709\u512a\u52e2\u3002\u4f46\u512a\u79c0\u7684\u6295\u8cc7\u4eba\uff0c\u53ef\u4ee5\u8f15\u6613\u5730\u5426\u8a8d\u9019\u500b\u4e0d\u6b63\u78ba\u7684\u770b\u6cd5\u3002<\/p>\n\n\n\n<p>\u5df4\u83f2\u7279\u66fe\u62b1\u6028\uff0c\u7f8e\u570b\u90a3\u5011\u591a\u7684\u4e0a\u5e02\u4f01\u696d\uff0c\u53d7\u9650\u65bc\u6cd5\u4ee4\u548c\u591a\u7a2e\u9650\u5236\uff0c\u4ed6\u53ea\u80fd\u6295\u8cc7\u5176\u4e2d\u7684\u7d04200\u5bb6\u4f01\u696d\u3002\u6211\u66fe\u7d93\u5728\u5148\u524d\u7684\u6587\u7ae0\u4e2d\u8a0e\u8ad6\u904e\u76f8\u95dc\u7684\u9650\u5236\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/19\/%E6%8A%95%E8%B3%87%E8%82%A1%E5%B8%82%E6%99%82%E7%9A%84%E6%95%A3%E6%88%B6%E5%84%AA%E5%8B%A2\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6563\u6236\u6295\u8cc7\u80a1\u5e02\u7684\u512a\u52e2<\/a>\u300b<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%A5%BD%E4%B8%BB%E6%84%8F%E4%B8%80%E5%B9%B4%E5%8F%AA%E8%A6%81%E4%B8%80%E5%80%8B%E5%B0%B1%E5%A4%A0%E4%BA%86\"><\/span>\u597d\u4e3b\u610f\u4e00\u5e74\u53ea\u8981\u4e00\u500b\u5c31\u5920\u4e86<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5728<a href=\"https:\/\/berkshirehathaway.com\/letters\/1992.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u7279199<\/a><a href=\"https:\/\/berkshirehathaway.com\/letters\/1993.html\" target=\"_blank\" rel=\"noreferrer noopener\">3\u5e74\u7684\u80a1\u6771\u4fe1<\/a>\u88e1\u9762\uff0c\u4ed6\u7279\u5225\u63d0\u5230\uff1a<\/p>\n\n\n\n<p><em>\u67e5\u7406\u8ddf\u6211\u8001\u65e9\u4ee5\u524d\u4fbf\u660e\u66b8\u8981\u5728\u4e00\u500b\u4eba\u7684\u6295\u8cc7\u751f\u6daf\u4e2d\uff0c\u505a\u51fa\u4e0a\u767e\u500b\u5c0f\u4e00\u9ede\u7684\u6295\u8cc7\u6c7a\u7b56\u662f\u4ef6\u5f88\u8f9b\u82e6\u7684\u4e00\u4ef6\u4e8b\uff0c\u9019\u7a2e\u60f3\u6cd5\u96a8\u8457\u6ce2\u514b\u590f\u8cc7\u91d1\u898f\u6a21\u65e5\u76ca\u64f4\u5927\u800c\u76ca\u5f62\u660e\u986f\uff0c\u800c\u653e\u773c\u6295\u8cc7\u4e16\u754c\u4e2d\uff0c\u53ef\u4ee5\u5927\u5e45\u5f71\u97ff\u672c\u516c\u53f8\u6295\u8cc7\u6210\u6548\u7684\u6a5f\u6703\u5df2\u8d8a\u4f86\u8d8a\u5c11\uff0c\u56e0\u6b64\u6211\u5011\u6c7a\u5b9a\u63a1\u53d6\u4e00\u7a2e\u53ea\u8981\u6c42\u81ea\u5df1\u5728\u5c11\u6578\u7684\u6642\u5019\u5920\u8070\u660e\u5c31\u597d\uff0c\u800c\u4e0d\u662f\u6bcf\u56de\u90fd\u8981\u975e\u5e38\u7684\u8070\u660e\uff0c\u6240\u4ee5\u6211\u5011\u73fe\u5728\u53ea\u8981\u6c42\u6bcf\u5e74\u51fa\u73fe\u4e00\u6b21\u597d\u7684\u6295\u8cc7\u4e3b\u610f\u5c31\u53ef\u4ee5\u4e86\uff0c(\u67e5\u7406\u63d0\u9192\u6211\u4eca\u5e74\u8a72\u8f2a\u5230\u6211)\u3002<\/em><\/p>\n\n\n\n<p>\u5728\u66f4\u65e9\u524d<a href=\"https:\/\/www.ivey.uwo.ca\/media\/2975913\/buffett-partnership-letters.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">1966\u5e74\u81f4\u80a1\u6771\u7684\u4fe1<\/a>\u4e2d\uff0c\u5df4\u83f2\u7279\u5c31\u5df2\u7d93\u8868\u793a\u904e\u985e\u4f3c\u7684\u8a00\u8ad6\uff1a\u300c\u5728\u8fd1\u5e7e\u5e74\u4e2d\u6211\u5011\u5f80\u5f80\u4e00\u5e74\u4e0b\u4f86\u53ea\u80fd\u767c\u73fe\u5169\u4e09\u500b\u6295\u8cc7\u5c0d\u8c61\u7b26\u5408\u4e0a\u8ff0\u6a19\u6e96\u3002\u300d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%B7%B4%E8%8F%B2%E7%89%B9%E7%9A%84%E7%9C%8B%E6%B3%95\"><\/span>\u5df4\u83f2\u7279\u7684\u770b\u6cd5<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5df4\u83f2\u7279\u5728<a href=\"https:\/\/www.ivey.uwo.ca\/media\/2975913\/buffett-partnership-letters.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">1966\u5e74\u81f4\u80a1\u6771\u7684\u4fe1<\/a>\u4e2d\u63d0\u904e\u4e86\u4ed6\u5c0d\u8cc7\u91d1\u5927\u5c0f\u548c\u6295\u8cc7\u5831\u916c\u7684\u95dc\u806f\u6027\u6642\uff0c\u7528\u4ee5\u4e0b\u659c\u9ad4\u5b57\u90e8\u4efd\u4f86\u8868\u9054\uff1a<\/p>\n\n\n\n<p><em>\u982d\u5341\u5e74\u7684\u7d50\u679c\u4e26\u4e0d\u80fd\u8aaa\u660e\u9019\u7a2e\u60c5\u6cc1\u53ef\u80fd\u6703\u5728\u672a\u4f86\u7684\u5341\u5e74\u4e2d\u5f97\u5230<em>\u8907<\/em>\u5236\u3002\u540c\u6a23\u7684\u696d\u7e3e\u4e5f\u8a31\u6703\u88ab\u67d0\u500b\u4ee5$105,100 \u8d77\u5bb6\u768425 \u6b72\u7684\u6bdb\u982d\u5c0f\u4f19\u5b50<em>\u8907\u88fd<\/em>\uff0c\u540c\u6642\u5e02\u5834\u7684\u60c5\u6cc1\u9084\u8981\u80fd\u5920\u4e00\u76f4\u5408\u9069\u65bc\u4ed6\u7684\u6295\u8cc7\u54f2\u5b78\u5f9e\u800c\u4f7f\u4ed6\u80fd\u5920\u9760\u57f7\u884c\u9019\u4e00\u6295\u8cc7\u54f2\u5b78\u800c\u7372\u5f97\u6210\u529f\u3002<\/em><\/p>\n\n\n\n<p><em>\u800c\u9019\u7a2e\u60c5\u6cc1\u5c07\u4e0d\u592a\u53ef\u80fd\u88ab\u4e00\u500b\u8166\u6eff\u8178\u80a5\u768436\u6b72\u7684\u7ba1\u7406\u8457$54,065,345\u5408\u5925\u4eba\u8cc7\u91d1\u7684\u4eba\u6240\u8907\u88fd\uff0c\u4e26\u4e14\u4ed6\u8166\u888b\u4e2d\u95dc\u65bc\u53ef\u4ee5\u7167\u6b64\u54f2\u5b78\u57f7\u884c\u7684\u6295\u8cc7\u7684\u9ede\u5b50\u90fd\u9084\u4e0d\u53ca25 \u6b72\u6642\u7684\u4e94\u5206\u4e4b\u4e00\u751a\u81f3\u5341\u5206\u4e4b\u4e00\u3002<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B5%90%E8%AA%9E\"><\/span>\u7d50\u8a9e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u8cc7\u91d1\u8d8a\u591a\u8d8a\u597d\u64cd\u4f5c\uff0c\u5831\u916c\u7387\u6108\u597d\u55ce\uff1f<a href=\"https:\/\/finance.yahoo.com\/news\/warren-buffett-shares-earn-whopping-102900347.html\" target=\"_blank\" rel=\"noopener\">\u5df4\u83f2\u7279\u8aaa\u904e\u300c\u7d66\u6211\u4e00\u767e\u842c\uff0c\u6211\u53ef\u4ee5\u6bcf\u5e74\u70ba\u4f60\u8cfa50%\u3002\u55ef\uff0c\u6211\u77e5\u9053\u6211\u505a\u5f97\u5230\uff0c\u6211\u53ef\u4ee5\u4fdd\u8b49\u3002\u300d<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"169\" height=\"93\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2023\/02\/fund_size-1600x1200-1.jpg\" alt=\"\u8cc7\u91d1\u5927\u5c0f\" class=\"wp-image-32381\"\/><figcaption class=\"wp-element-caption\">credit: fi.co<\/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\/2023\/07\/10\/%E8%B3%87%E9%87%91%E5%A4%A7%E5%B0%8F%E5%92%8C%E6%8A%95%E8%B3%87%E5%A0%B1%E9%85%AC%E7%8E%87%E7%9A%84%E9%97%9C%E4%BF%82\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u8cc7\u91d1\u5927\u5c0f\u548c\u6295\u8cc7\u5831\u916c\u7387\u7684\u95dc\u4fc2<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/03\/22\/%e8%ab%87%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%ef%bc%8c%e5%b0%8f%e5%bf%83%e6%95%b8%e5%ad%97%e9%81%8a%e6%88%b2\/\">\u8ac7\u6295\u8cc7\u5831\u916c\u7387\uff0c\u5c0f\u5fc3\u6578\u5b57\u9677\u9631<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/01\/25\/%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e5%a5%bd%e4%b8%8d%e5%a5%bd%e7%9a%84%e6%aa%a2%e6%9f%a5%e6%b8%85%e5%96%ae\/\">\u6295\u8cc7\u5831\u916c\u7387\u597d\u4e0d\u597d\u7684\u6aa2\u67e5\u6e05\u55ae<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/01\/07\/%e6%8a%95%e8%b3%87%e7%b5%84%e5%90%88%e6%84%88%e5%a4%a7%ef%bc%8c%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87%e7%9a%84%e7%a2%ba%e6%9c%83%e9%9a%a8%e6%99%82%e9%96%93%e9%99%8d%e4%bd%8e\/\">\u6295\u8cc7\u7d44\u5408\u6108\u5927\uff0c\u6295\u8cc7\u5831\u916c\u7387\u7684\u78ba\u53ef\u80fd\u6703\u96a8\u6642\u9593\u7de9\u6162\u5730\u964d\u4f4e<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/09\/12\/%e6%82%a8%e6%87%89%e8%a9%b2%e8%aa%8d%e8%ad%98square%e9%80%99%e5%ae%b6%e4%bc%81%e6%a5%ad\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/04\/07\/%e7%82%ba%e4%bb%80%e9%ba%bc%e5%b7%b4%e8%8f%b2%e7%89%b9%e5%80%bc%e5%be%97%e6%b7%b1%e5%85%a5%e7%a0%94%e7%a9%b6%ef%bc%9f\/\">\u70ba\u4ec0\u9ebc\u5df4\u83f2\u7279\u503c\u5f97\u6df1\u5165\u7814\u7a76\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/06\/10\/%E6%8A%95%E8%B3%87%E8%82%A1%E5%B8%82%E6%99%82%E7%9A%84%E6%95%A3%E6%88%B6%E5%8A%A3%E5%8B%A2\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6563\u6236\u6295\u8cc7\u80a1\u5e02\u7684\u52a3\u52e2<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/19\/%E6%8A%95%E8%B3%87%E8%82%A1%E5%B8%82%E6%99%82%E7%9A%84%E6%95%A3%E6%88%B6%E5%84%AA%E5%8B%A2\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6563\u6236\u6295\u8cc7\u80a1\u5e02\u7684\u512a\u52e2<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/14\/%e9%a0%82%e5%b0%96%e6%8a%95%e8%b3%87%e5%a4%a7%e5%b8%ab%e5%80%91%e7%9a%84%e7%94%9f%e6%b6%af%e5%b9%b4%e5%8c%96%e6%8a%95%e8%b3%87%e5%a0%b1%e9%85%ac%e7%8e%87\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u9802\u5c16\u6295\u8cc7\u5927\u5e2b\u5011\u7684\u751f\u6daf\u5e74\u5316\u6295\u8cc7\u5831\u916c\u7387<\/a>\u300b<\/li>\n<\/ul>\n\n\n\n<p><em><strong>\u91cd\u8981\u8072\u660e<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>\u672c\u7ad9\u5167\u5bb9\u70ba\u4f5c\u8005\u500b\u4eba\u610f\u898b\uff0c\u50c5\u4f9b\u53c3\u8003\uff0c\u672c\u4eba\u4e0d\u5c0d\u6587\u7ae0\u5167\u5bb9\u3001\u8cc7\u6599\u4e4b\u6b63\u78ba\u6027\u3001\u770b\u6cd5\u3001\u8207\u5373\u6642\u6027\u8ca0\u4efb\u4f55\u8cac\u4efb\uff0c\u8b80\u8005\u8acb\u52d9\u5fc5\u81ea\u884c\u5224\u65b7\u3002<\/em><\/li>\n\n\n\n<li><em>\u5c0d\u65bc\u8b80\u8005\u76f4\u63a5\u6216\u9593\u63a5\u4f9d\u8cf4\u4e26\u53c3\u8003\u672c\u7ad9\u8cc7\u8a0a\u5f8c\uff0c\u63a1\u53d6\u4efb\u4f55\u6295\u8cc7\u884c\u70ba\u6240\u5c0e\u81f4\u4e4b\u76f4\u63a5\u6216\u9593\u63a5\u640d\u5931\uff0c\u6216\u56e0\u6b64\u7522\u751f\u4e4b\u4e00\u5207\u8cac\u4efb\uff0c\u672c\u4eba\u5747\u4e0d\u8ca0\u4efb\u4f55\u640d\u5bb3\u8ce0\u511f\u53ca\u5176\u4ed6\u6cd5\u5f8b\u4e0a\u4e4b\u8cac\u4efb\u3002<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u8cc7\u91d1\u5927\u5c0f\u548c\u6295\u8cc7\u5831\u916c\u7387\u7684\u78ba\u6703\u6709\u95dc\u4fc2<\/p>\n","protected":false},"author":1,"featured_media":32381,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1574,98,158],"tags":[420,421],"class_list":["post-30489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-return","category-buffett","category-concept","tag-brk-a","tag-brk-b"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/30489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/comments?post=30489"}],"version-history":[{"count":1,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/30489\/revisions"}],"predecessor-version":[{"id":71278,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/30489\/revisions\/71278"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media\/32381"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media?parent=30489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/categories?post=30489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/tags?post=30489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}