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史上最全巴菲特語(yǔ)錄

史上最全巴菲特語(yǔ)錄

Carol J. Loomis 2012-11-22
《財(cái)富》雜志帶你回顧近半個(gè)世紀(jì)以來(lái),沃倫?巴菲特逐步走上投資大師神壇的過(guò)程中說(shuō)過(guò)的那些價(jià)值連城的金玉良言。

1988年,沃倫?巴菲特正在與本文作者卡羅爾?盧米斯打橋牌,展示他稱(chēng)之為“手中最大的牌”。

????《財(cái)富》(Fortune)雜志最早于1966年開(kāi)始和沃倫?巴菲特打交道。當(dāng)時(shí)筆者正在寫(xiě)一篇關(guān)于阿爾弗雷德?溫斯洛?瓊斯的投資文章。那時(shí)瓊斯還沒(méi)什么名氣,但即將由于這篇文章而名滿天下。瓊斯正在經(jīng)營(yíng)被稱(chēng)為“對(duì)沖基金”的業(yè)務(wù),《財(cái)富》雜志對(duì)這一業(yè)務(wù)以及瓊斯如何經(jīng)營(yíng)這項(xiàng)業(yè)務(wù)的描述揭開(kāi)了對(duì)沖基金業(yè)的一個(gè)小繁榮期。這篇文章中有一句話提到了巴菲特的公司Buffett Partnership Ltd.,差不多是瓊斯基金的競(jìng)爭(zhēng)對(duì)手。讓我慚愧至今的是,我把巴菲特(Buffett)的名字拼錯(cuò)了,少了一個(gè)“t”。

????隨后不久,我的丈夫約翰?盧米斯見(jiàn)到了巴菲特,回到家里說(shuō):“我覺(jué)得,我遇到了全美國(guó)最聰明的投資人?!蔽铱隙ǎ?dāng)時(shí)我是不屑一顧的。 后來(lái),我自己也認(rèn)識(shí)了巴菲特(以及他已逝的第一任妻子蘇茜,一個(gè)極好的人),意識(shí)到這個(gè)當(dāng)時(shí)基本上默默無(wú)聞的家伙是多么了不起。盧米斯家族買(mǎi)了巴菲特那家小公司伯克希爾-哈撒韋公司(Berkshire Hathaway )的股票;我們也成為了巴菲特一家的好友;后來(lái),我還成為了他名聲大噪的年度致股東公開(kāi)信的無(wú)償編輯。

????與此同時(shí),《財(cái)富》雜志也開(kāi)始長(zhǎng)期報(bào)道巴菲特。1970年,《財(cái)富》雜志一篇《對(duì)沖基金遭遇艱難歲月》(Hard Times Come to the Hedge Funds)的報(bào)道中,巴菲特有了兩段話和一張照片——他的基金是個(gè)特例,連續(xù)13年盈利——到了1977年,我們刊登了巴菲特撰寫(xiě)的一篇7,000字的文章《通脹如何騙取股票投資者錢(qián)財(cái)》(How Inflation Swindles the Equity Investor)。

????如今,在《財(cái)富》雜志首次邂逅巴菲特46年后,我們搜羅了這些年來(lái)撰寫(xiě)的所有有關(guān)巴菲特的重要文章(以及一些不那么重要的文章),加上我的點(diǎn)評(píng),出了一本書(shū)《跳著踢踏舞去上班》(Tap Dancing to Work)。上面提到的所有文章,從寫(xiě)阿爾弗雷德?溫斯洛?瓊斯的那篇投資文章開(kāi)始,全部都收錄在內(nèi)——而這僅僅是個(gè)開(kāi)始??偠灾?,這本書(shū)是一場(chǎng)巴菲特報(bào)道盛宴。

????書(shū)后附上了在巴菲特逐步成長(zhǎng)為一位偉大的投資人/管理者/慈善家的過(guò)程中,這些報(bào)道的一些精彩摘錄和記錄下那些時(shí)刻的精選照片??梢源_定的一件事是:我們非常高興能夠參與其中。

????尾聲:1966年,當(dāng)《財(cái)富》雜志首次邂逅沃倫?巴菲特時(shí),伯克希爾(如今的A類(lèi)股)股價(jià)為22美元。今年11月初,該股股價(jià)約為130,000美元。

????Fortune met Warren Buffett by accident in 1966. I was writing an investing article about another man, Alfred Winslow Jones, who wasn't famous at that moment, but was about to be because of the article. Jones was running something called a hedge fund, and Fortune's description of what that was and how Jones operated started a miniboom in the hedge fund business. Buffett Partnership Ltd. -- a sort of competitor of Jones's fund -- got a single line in the article. To my everlasting dismay, I misspelled Buffett, giving it only one "t."

????A bit later, my husband, John Loomis, met Buffett and came home saying, "I think I have just met the smartest investor in the country." I'm sure my eyes rolled. But then I, too, got to know Warren (and his wonderful late first wife, Susie) and realized how impressive this largely unknown fellow was. The Loomises bought stock in his small company, Berkshire Hathaway (BRKA); we became good friends of the Buffetts; and ultimately I became the pro bono editor of his increasingly famous annual letter to shareholders.

????Meanwhile, Fortune set off on a long-term course of covering Buffett. He got two paragraphs and a picture in a 1970 Fortune story called "Hard Times Come to the Hedge Funds" -- his fund was a rarity, having 13 straight years of profits -- and by 1977 we were running a 7,000-word piece by Buffett on "How Inflation Swindles the Equity Investor."

????Now, 46 years after Fortune first met the man, we have a book, Tap Dancing to Work, that collects everything important we've done about him (and some lighter stuff too), with commentary written by me. All the articles mentioned above, from the A.W. Jones story on, are in it -- and that's just the start. In total, the book is a Buffett banquet.

????What follows are some choice quotes from its pages and a selection of photographs that mark the passing of time, as Buffett grew into an investor/manager/philanthropist whose place in history is assured. One thing is certain: We are awfully glad to have been there as it happened.

????A coda: In 1966, when Fortune first met Warren Buffett, Berkshire's stock (today's Class A) was $22. In early November, it was about $130,000.

《跳著踢踏舞去上班》

20世紀(jì)70年代

????這一年他正在著手關(guān)閉他的對(duì)沖基金。

????1970年1月:《對(duì)沖基金遭遇艱難歲月》

????“巴菲特的投資記錄極其出色。在投資經(jīng)營(yíng)的13年里……他給投資者帶來(lái)了24%的復(fù)合年均回報(bào)率……(如今)巴菲特正在退出對(duì)沖基金業(yè)。”

????1977年5月:《通脹如何騙取股票投資者錢(qián)財(cái)》

????“大多數(shù)政府官員都堅(jiān)決反對(duì)通脹,同時(shí)卻又堅(jiān)定支持產(chǎn)生通脹的政策,這一點(diǎn)完全可以理解,”巴菲特寫(xiě)道。

1970s

????January 1970: Hard times come to the hedge funds

????"Buffett's record has been extraordinarily good. In his thirteen years of operation … he compounded his investors' money at a 24% annual rate … [Now] Buffett is quitting the hedge fund game."

????May 1977: How inflation swindles the equity investor

????"Most of those in public office, quite understandably, are firmly against inflation and firmly in favor of policies producing it," wrote Buffett.

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