讀股神年報看股神智慧

剛剛讀過股神畢飛特 (Warren Buffett) 的致股東信，獲益良多，以下節錄一些與大家分享：

1. 評論旗下NetJets的服務：
'Once you’ve flown NetJets, returning to commercial flights is like going back to holding hands.'

各位男性朋友，相信大家都明白有好多事，真的是做了便不能回頭的。

2. 評論基金經理怎樣‘協助’其客人賺錢

'When someone with experience proposes a deal to someone with money, too often the fellow with money ends up with the experience, and the fellow with experience ends up with the money.'

'2-and-20 crowd：a manager who achieves a gross return of 10% in a year will keep 3.6 percentage points – two points off the top plus 20% of the residual 8 points – leaving only 6.4 percentage points for his investors. On a $3 billion fund, this 6.4% net “performance” will deliver the manager a cool $108 million. He will receive this bonanza even though an index fund might have returned 15% to investors in the same period and charged them only a token fee.'

還有太多不能儘錄，自已讀啦：畢飛特 (Warren Buffett) 的致股東信