巴菲特的建议:如何在股市中获得公平的待遇

(本文为iDog的翻译作品。并非严格地逐字翻译,而是经过整理的意译。)

巴菲特在CNBC的电视访谈节目(2013.03.04)中,关于如何在股市中获得公平的待遇,对个人投资者给出了十分宝贵的建议。

主持人:在股市里有很多丑闻和幕后交易。很多个人投资者认为他们不能获得公平的待遇。你怎么看?

巴菲特:他们在很多方面支付了不少费用,但他们其实不必如此。他们只需买入一支低费用的指数基金,就能很好地参与经济在未来几十年内的增长了。如果支付很高的费用来获得同样的结果的话,就会遭受损失。因此,要十分仔细地关注各种费用。应该持有一组优质公司的股票,这可以通过买入一支指数基金来轻松实现。买入后就要忘掉这回事,要假装股市在未来的五年内一直闭市,而不要每天都查看股价。

人们卖给你证券时,往往是选择那些能让他们自己赚很多钱的来卖。对于卖给你证券的人,你应该问的第一个问题是:“你如何从中赚钱?赚多少?”真相是,你可以保有收取很低很低的费用的指数基金,最终能获得跟人们卖给你的那些费用高昂的投资相同的回报。

因此,你要时刻关注费用。当有人过来告诉你:“我要卖给你这种绝妙的证券,但是在你支付的总额中,这一大块归我。”你要保持怀疑态度。

正如有人说的,当一个有经验的人遇到一个有钱的人时,有钱的人获得经验,有经验的人获得钱。

iDog注:关于指数基金投资具体的分析和论述请参阅这里

原文:

Warren Buffett’s Advice: How to Get ‘Fair Shake’ on Wall Street

During his live appearance on CNBC’s “Squawk Box” today (2013.03.04), Berkshire Hathaway Chairman Warren Buffett had some valuable advice for individual investors on how to make sure they are getting a “fair shake” on Wall Street.

BECKY QUICK: Do you think, and I ask this because there have been so many scandals that people think about, Libor, and they think about a lot of the deals behind the scenes that have been dragged out. A lot of Main Street investors think they can’t get a fair shake on Wall Street. Can they?

WARREN BUFFETT: Well, they pay a lot of expenses in many cases. They don’t need to. They should buy a low-cost index fund and they can participate in the growth of America over the next 20 or 30 or 40 years and they’ll do fine. But if they’re paying high fees to achieve that same result, they’re going to get hurt. They should look very carefully at costs. But they should hold a diversified group of really high-class companies, which you can do by buying an index fund. And then they should forget it. They should just pretend the stock market closes for five years and they shouldn’t look at prices every day…

The people selling you securities are often selling you things they make a lot of money in. The first question you should ask of anybody selling you securities is, ‘How are you getting paid and how much are you getting paid?’ The truth is you can own index funds with a very, very low cost and you will end up getting the same performance that you get from people who charge you a lot more.

So, you always want to look at costs. When somebody comes around to you and says, ‘I’m going to sell you this wonderful security but there’s this big chunk in it for me,” you get suspicious.

As they say, when a person with experience meets a person with money, the person with the money gets the experience and the person with the experience gets the money.

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