巴菲特名言英文版精选

下面小编整理巴菲特名言英文版精选。从巴菲特上学习经济方面的知识

巴菲特名言英文版精选

“What counts for most people in investing is not how much they know, but rather how realistically they define what they don't know. An investor needs to do very few things right as long as he or she avoids big mistakes.”

就投资而言，人们应该注意的，不是他到底知道多少，而是应该注意自己到底有多少是不知道的，投资人不需要花太多时间去做对的事，只要他能够尽量避免去犯重大的错误。

――1992 Letter to Berkshire Hathaway shareholders

“Obviously, every investor will make mistakes. But by confining himself to a relatively few，easy-to-understand cases, a reasonably intelligent, informed and diligent person can judge investment risks with a useful degree of accuracy.”

当然每个投资人都会犯错，但只要将自己集中在相对少数，容易了解的投资个案上，一个理性、知性与耐性兼具的投资人一定能够将投资风险限定在可接受的范围之内。

――1993 Letter to Berkshire Hathaway shareholders

“When returns on capital are ordinary, an earn-　more-　by-putting-up-more record is no great managerial achievement. You can get the same result personally while operating from your rocking chair. just quadruple the capital you commit to a savings account and you will quadruple your earnings. You would hardly expect hosannas for that particular accomplishment. Yet, retirement announcements regularly sing the praises of CEOs who have, say, quadrupled earnings of their widget company during their reign - with no one examining whether this gain was attributable simply to many years of retained earnings and the workings of compound interest.”

当资本报酬率平平，这种大堆头式的赚钱方式跟本没什么了不起，你坐在摇椅上也能轻松达到这样的成绩，好比只要把你存在银行户头里的钱，一样可以赚到加倍的利息，没有人会对这样的成果报以掌声，但通常我们在某位资深主管的退休仪式上歌颂他在任内将公司的盈余数字提高数倍，却一点也不会去看看这些事实上是因为公司每年所累积盈余与复利所产生的效果。

――1985 Chairman's Letter to Shareholders

“We have tried occasionally to buy toads at bargain prices with results that have been chronicled in past reports. Clearly our kisses fell flat. We have done well with a couple of princes - but they were princes when purchased. At least our kisses didn't turn them into toads. And, finally, we have occasionally been quite successful in purchasing fractional interests in easily-identifiable princes at toad-like prices.”

我们曾用划算的价钱买下不少蟾蜍，过去的报告多已提及，很明显的我们的吻表现平平，我们有遇到几个王子级的公司，但是早在我们买下时他们就已是王子了，而至少我们的吻没让他们变回蟾蜍，而最后我们偶尔也曾成功地以蟾蜍般的价格买到部份王子级公司的部份股权。

――1981 Chairman's Letters to Shareholders

“First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.”

第一课，不论是什么东西，只要有人要买，华尔街那帮人都会想办法弄来卖给你。

――2000 Letter to Shareholders

“The most common cause of low prices is pessimism-some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.”

股价不振最主要的原因是悲观的情绪，有时是全面性的，有时则仅限于部份产业或是公司，我们很期望能够在这种环境下做生意，不是因为我们天生喜欢悲观，而是如此可以得到便宜的价格买进更多好的公司，乐观是理性投资人最大的敌人。

――1990 Chairman's Letter to Shareholders

“Ben’s Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'?”

葛拉汉的市场先生理论在现今的投资世界内或许显得有些过时，尤其是在那些大谈市场效率理论、动态避险与beta值的专家学者眼中更是如此，他们会对那些深奥的课题感到兴趣是可以理解的，因为这对于渴望投资建议的追求者来说，是相当具吸引力的，就像是没有一位名医可以单靠「吃两颗阿斯匹宁」这类简单有效的建议成名致富的。

――1987 Chairman's Letter to Shareholders

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