I think 98% to 99% of investors should be highly diversified, but not frequently traded, and their investments should be about the same as a very low-cost index fund. For the average investor, investing that way is the right way to go. It& #39;s a different story if you want to be actively involved in investing, researching companies and actively making investment decisions. Since you& #39;ve decided to put in the time and effort to get your investments right, I think diversification is a big mistake.

我認(rèn)為98%到99%的投資者應(yīng)該高度分散，但不能頻繁交易，他們的投資應(yīng)該和成本極低的指數(shù)型基金差不多。對(duì)于普通投資者，這么投資是正路。如果想積極參與投資活動(dòng)，研究公司并主動(dòng)做投資決策，那就不一樣了。既然你決定投入時(shí)間和精力把投資做好，我覺得分散投資是大錯(cuò)特錯(cuò)的。

If you can really read business, you shouldn& #39;t own more than six. If you can find six good businesses, you& #39;ve diversified enough, you don& #39;t need to diversify any more, and you can make a lot of money. I guarantee you that instead of investing your money in the one business you have the best idea for, you& #39;ll go back to the seventh business and fall in the ditch. There are very few people who get rich on the seventh best idea, and many people who get rich on the best idea.

要是你真能看懂生意，你擁有的生意不應(yīng)該超過六個(gè)。要是你能找到六個(gè)好生意，就已經(jīng)足夠分散了，用不著再分散了，而且你能賺很多錢。我敢保證，你不把錢投到你最看好的那個(gè)生意，而是再去做第七個(gè)生意，肯定會(huì)掉到溝里?？康谄邆€(gè)最好的主意發(fā)家的人很少，靠最好的主意發(fā)家的人很多。

Any investor with an average amount of money, if they do know the business they& #39;re going to invest in, six is a lot, and if it were me, I& #39;d probably just pick the three that I& #39;m most optimistic about. Personally, I don& #39;t diversify, and I can usually find three fantastic businesses in my lifetime and make a lifetime& #39;s worth of money that I can& #39;t spend. Bad things don& #39;t happen to all three at the same time, I mean, that& #39;s what characterizes really good companies.

任何投資者在資金量一般的情況下，要是對(duì)自己要投資的生意確實(shí)了解，六個(gè)就很多了，換了是我的話，我可能就選三個(gè)我最看好的。我本人不搞分散，一般一輩子能找到三個(gè)絕妙的生意，就能賺一輩子花不完的錢。壞事不會(huì)同時(shí)發(fā)生在這三個(gè)公司身上，我的意思是，這就是真正好公司的特點(diǎn)。

以上內(nèi)容節(jié)選自巴菲特對(duì)“分散投資”的看法

由數(shù)字人巴菲特播報(bào) 

本視頻由七華軟件用人工智能技術(shù)生成