巴菲特迄今最成功的六笔投资

    6.《聪明的投资者》（The Intelligent Investor）

    年平均复合回报率：许多

    总回报：450亿美元

    初次阅读时：65年前（1949年出版）

    巴菲特说，他这辈子做过最好的投资不是某只股票或债券或房地产，而是买了一本本杰明•格雷厄姆所著的《聪明的投资者》。该书于1949年出版，当年巴菲特就阅读了此书。后来为了上格雷厄姆的课，巴菲特申请就读哥伦比亚大学商学院（Columbia Business School）。巴菲特说，这本书至今仍然是他投资决策的指引，他已经将它推荐给比尔•盖茨等人。以下是巴菲特在他最近写给伯克希尔股东哈撒韦公司股东的信中对此书的评论：

    “我已经记不清我买第一本《聪明的投资者》花了多少钱。无论花了多少钱，都可以彰显格雷厄姆书中那句格言的真谛：价格是你支付出去的，价值是你所获得的。我做过的所有投资之中，买格雷厄姆的这本书就是最好的投资（我买的那两本结婚证除外）。”（财富中文网）

    译者：Peter

    审校：Lina

    6. The Intelligent Investor

    Annual average compounded return: A lot

    Total return: $45 billion

    Years since read: 65 (published in 1949)

    Buffett has said the best investment he ever made was not a stock or a bond or even in real estate, but buying a copy of The Intelligent Investor, a book written by Benjamin Graham. Buffett read the book when it came out in 1949 and later enrolled at Columbia Business School in order to take classes with Graham. Buffett says the book still guides his investment decisions today, and he has recommended it to Bill Gates, among others. Here's what Buffett had to say about the book in his most recent letter to Berkshire shareholders:

    “I can’t remember what I paid for that first copy of The Intelligent Investor. Whatever the cost, it would underscore the truth of Ben’s adage: Price is what you pay; value is what you get. Of all the investments I ever made, buying Ben’s book was the best (except for my purchase of two marriage licenses).”