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巴菲特的投资理念,概括起来无非两条,一是理性,一是正直。通常,经济学里的“理性人”,是指人类有一种趋利避害、追求自身利益最大化的天性。以此观察,则通常的投资者低买高卖、随行取势也可以算是一种“理性”行为。但显然,巴菲特所谓的“理性”,不仅于此。巴菲特认为真正的“理性”,不但是一种获取财富的动因,而且是一种实现财富的动因,而且是一种实现财富的能力。我们可称之为“智慧”。正是在这点上,巴菲特表现出了他的与众不同。他不认为“短线买卖”是一种理性行
Buffett’s investment philosophy can be summed up in two ways. One is rationality and the other is integrity. Generally, the “rational person” in economics means that mankind has a nature that seeks advantages and avoids disadvantages and pursues the maximization of its own interests. From this observation, the usual investors’ low buy-and-sell, and accompaniment to take advantage of can also be regarded as a “rational” behavior. Obviously, Buffett’s so-called “rationality” is not only that. Buffett believes that true “rationality” is not only a motivation for obtaining wealth, but also a motivation for realizing wealth, and it is an ability to realize wealth. We can call it “wisdom.” It is at this point that Buffett showed his uniqueness. He does not think that “short-term trading” is a rational line.