{{sellerTotalView > 1 ? __("sellers", {number: sellerTotalView}) : __("seller", {number: sellerTotalView}) }}, {{numTotalView > 1 ? __("items", {number: numTotalView}) : __("item", {number: numTotalView}) }}
free FREE

Change Your Zip Code

Inventory information and delivery speeds may vary for different locations.

Location History

{{email ? __('Got it!') : __('Restock Alert')}}

We will notify you by email when the item back in stock.

Cancel
Yami

Jingdong book

巴菲特致股东的信 股份公司教程

{{buttonTypePin == 3 ? __("Scan to view more PinGo") : __("Scan to start")}}

巴菲特致股东的信 股份公司教程

{{__(":people-members", {'people': item.limit_people_count})}} {{ itemCurrency }}{{ item.valid_price }} {{ itemCurrency }}{{ item.invalid_price }} {{ itemDiscount }}
Ends in
{{ itemCurrency }}{{ item.valid_price }}
{{ itemCurrency }}{{ priceFormat(item.valid_price / item.bundle_specification) }}/{{ item.unit }}
{{ itemDiscount }}
{{ itemCurrency }}{{ item.valid_price }} {{ itemCurrency }}{{ priceFormat(item.valid_price / item.bundle_specification) }}/{{ item.unit }} {{ itemCurrency }}{{ item.invalid_price }} {{itemDiscount}}
{{ itemCurrency }}{{ item.valid_price }}
Sale ends in
Sale will starts after Sale ends in
{{ getSeckillDesc(item.seckill_data) }}
{{ __( "Pay with Gift Card to get sale price: :itemCurrency:price", { 'itemCurrency' : itemCurrency, 'price' : (item.giftcard_price ? priceFormat(item.giftcard_price) : '0.00') } ) }} ({{ itemCurrency }}{{ priceFormat(item.giftcard_price / item.bundle_specification) }}/{{ item.unit }}) Details
Best before

Currently unavailable.

We don't know when or if this item will be back in stock.

Unavailable in your area.
Sold Out

Details

Full product details
Editer Recommend

《巴菲特致股东的信 股份公司教程》是“股神”巴菲特生一著作,是摩根大通银行推荐给百万富翁十本必读书之一。

Content Description

《巴菲特致股东的信 股份公司教程》收录了投资大师沃伦·巴菲特写给伯克希尔——哈撒韦公司股东的信,探讨的主题涵盖管理、投资及评估等,其中核心的精神是由格雷厄姆和托德提 出的,书中论述了公司治理、公司财务与投资、普通股、兼并与收购及会计与纳税等内容,是一本既精炼又富于实用性和教育性的投资手册。特别是虽然这是一本投 资书籍,但内容并不枯燥,而是精彩绝伦、妙趣横生,使读者能够从中领略到一个崭新的投资世界。
《巴菲特致股东的信 股份公司教程》的由来:巴菲特当然没有写过什么书,但他每年都要在伯克希尔·哈撒韦的公司年报中给股东写一封信,总结在过去一年中的成败得失。从挑选经 理、选择投资目标、评估公司,到有效地使用金融信息,这些信涵盖面甚广。但是,在美国法律教授劳伦斯人坎宁安将这些信援特定的主题加以组织整理著成本书以 前,、这些信中蕴含的思想并没有引起本应获得的广泛关注。巴菲特本人认为,这本书比到目前为止的任何一本关于他的传记都要好,如果他要挑一本书去读,那必 定是《巴菲特致股东的信 股份公司教程》。
Author Description

沃伦·巴菲特,全球知名的投资大师,伯克希尔——哈撒韦公司总裁,全美排名第二富豪。巴菲特是一位靠证券投资成为拥有几百亿美元资产的世界富豪。在过去的35年中,他执掌的伯克希尔公司每股账面价值从19美元上升至37 987美元,年复合增长率高达24.00%(见下表)。尤为难能可贵的是,伯克希尔已经是一家资产总额高达1300多亿美元的巨型企业。
Comments

★“很实用。”
——查利·芒格

★“空前的尖端投资著作之一。”
——The Motley Fool

★“必读的商业著作。”
——JP Morgan Private Banking

★“很像个人金融读物的公司管理读物。”
——《出版者周刊》

★“本年度的著作。翘两个大拇指。”
——CNN-fn

★“一本寓教于乐的严肃投资课程。”
——《投资者编年史》

★“关于巴菲特的著作——完美的成果。”
——《福布斯》

★“与众不同——充满了智慧、幽默和常理。”
——《货币》

★“关于价值投资的经典著作,关于巴菲特理论的专业来源。”
——《金融时报》
Catalogue

译者序
导言
开场白

第1章 公司治理
1.1 与所有者相关的企业原则
1.2 完整且公平的披露
1.3 董事会与经理
1.4 关闭工厂的焦虑
1.5 基于所有者的公司捐赠方法
1.6 酬报主管人员的原则

第2章 公司财务与投资
2.1 市场先生
2.2 套利
2.3 戳穿教条
2.4 “价值”投资:多余
2.5 聪明的投资
2.6 雪茄烟蒂与习惯的需要

第3章 普通股的替代品
3.1 垃圾债券
3.2 零息债券
3.3 优先股
3.4 非常规的投资

第4章 普通股
4.1 交易的祸根:交易成本
4.2 吸引正确的投资者
4.3 分红政策与股票回购
4.4 拆股与交易活动
4.5 股东的策略
4.6 伯克希尔的资本结构调整

第5章 兼并与收购
5.1 错误的动机和昂贵的价格
5.2 合理的股票回购与反收购
5.3 杠杆收购
5.4 稳定的收购政策
5.5 关于出售一个人的企业
5.6 收购的优势

第6章 会计与估值
6.1 对会计把戏的讽刺
6.2 透明盈利
6.3 经济商誉与会计商誉
6.4 所有者收益和现金流的谬误
6.5 内在价值、账面价值和市场价格
6.6 伊索与失效灌木丛理论

第7章 会计政策与纳税问题
结束语
词汇表
配置表
后记与致谢
Book Abstract

1.1 与所有者相关的企业原则@
1.尽管我们的形式是法人组织,但我们的经营观念却是合伙制。查理·芒格和我将我们的股东看做是所有者合伙人(Owner-partner),并将我们自己看作经营合伙人(Managing Partner)。(由于我们的持股规模,不管怎样我们还是有控制权的合伙人。)我们并不将公司本身作为我们企业资产的最终所有者,而是将企业看成是一个通道,我们的股东通过它拥有资产。
查理和我希望你们不要认为自己仅仅拥有一纸价格每天都在变动的凭证,而且一旦发生某种经济或政治事件就会使你紧张不安,它就是出售的候选对象。相反,我们希望你们把自己想像成一家企业的所有者之一,对这家企业你愿意无限期地投资,就像你与家庭成员合伙拥有一个农场或一套公寓那样。在我们这里,我们没有把伯克希尔的股东看成是过往人群中不知姓名的成员,而是把他们看作为了在身后留下些什么而将他们的资金托付予我们的、共担风险的投资者。
事实证明,大多数伯克希尔的股东确实信奉这种长期合伙的理念。即便在计算时把我拥有的股票数量排除在外,伯克希尔股票的年成交量也仅是其他美国大公司的一个零头。
实际上,我们的股东对伯克希尔股票的投资行为与伯克希尔本身对其所投资的公司的行为极为相像。例如,作为可口可乐公司和吉列公司股票的持有者,我们把伯克希尔当成是两家非凡企业的非经营性合伙人,我们用这两家公司的长期进步,而不是其股票每个月的涨幅,来衡量我们的成功。事实上,我们至少不关心几年中这些公司的股票毫无成交,或没有报价。如果我们有坚定的长期投资期望,那么短期的价格变化对我们来说就毫无意义,除非它们能够给我们提供以有吸引力的价格增加所有权的机会。
2.与伯克希尔面向所有者的方针相一致,我们大多数董事的大部分净资产都投到了这家公司。我们吃自己烧的饭。
查理一家的净资产有90%或者更多是伯克希尔的股票;我的妻子苏西和我则超过了99%。此外,我的许多亲戚——例如我的姐姐和堂兄——的大部分净资产也是伯克希尔公司的股票。
查理和我对这种把鸡蛋放在一个篮子里的情况完全放心,因为伯克希尔本身就拥有各种各样业务真正迥异的公司。实际上,我们相信,伯克希尔拥有控制权的或重要少数股东权益的企业在质量和多样性方面几乎独一无二。
查理和我不能向你们允诺什么,但是,我们可以保证,无论你们选择做我们的合伙人多长时间,你们的财产都将与我们的同步变化。我们对高工资、股票期权或其他比你们“多”的收入毫无兴趣,我们只想在我们的合伙人赚钱的时候赚钱,而且比例完全一致。此外,如果我做了什么蠢事,我希望你们能从我也遭受了相同比例的损失上得到些安慰。
……

Specifications

Brand Jingdong book
Brand Origin China

Disclaimer

Product packaging, specifications and price are subject to change without notice. All information about the products on our website is provided for information purposes only. Please always read labels, warnings and directions provided with the product before use.

View Full Terms of Use
Add to favorites
{{ $isZh ? coupon.coupon_name_sub : coupon.coupon_ename_sub | formatCurrency }}
{{__("Buy Directly")}} {{ itemCurrency }}{{ item.directly_price }}
Quantity
{{ quantity }}
{{ instockMsg }}
{{ limitText }}
{{buttonTypePin == 3 ? __("Scan to view more PinGo") : __("Scan to start")}}
Sold by JD@CHINA
Ship to
{{ __("Ship to United States only") }}
Free shipping over 69
Genuine guarantee

Added to Cart

Keep Shopping

More to Consider

{{ item.brand_name }}

{{ item.item_name }}

{{ item.currency }}{{ item.market_price }}

{{ item.currency }}{{ item.unit_price }}

{{ item.currency }}{{ item.unit_price }}

Coupons

{{ coupon.coupon_name_new | formatCurrency }}
Clip Clipped Over
{{ getCouponDescStr(coupon) }}
{{ coupon.use_time_desc }}
Expires soon {{ formatTime(coupon.use_end_time) }}

Share this item with friends

Cancel

Yami Gift Card

Get this exclusive deal when paying with gift card

Terms and Conditions

Gift card deals are special offers for selected products;

The gift card deals will automatically be activated if a customer uses gift card balance at check out and the balance is sufficient to pay for the total price of the shopping cart products with gift card deals;

You will not be able to activate the gift card deals if you choose other payment methods besides gift card. The products will be purchased at their normal prices;

If your account balance is not enough to pay for the products with gift card deals, you can choose to reload your gift card balance by clicking on the Reload button at either shopping cart page or check out page;

Products that have gift card deals can be recognized by a special symbol showing 'GC Deal';

For any additional questions or concerns, please contact our customer service;

Yamibuy reserves the right of final interpretation.

Sold by Yami

Service Guarantee

Yami Free Shipping over $49
Yami Easy Returns
Yami Ships from United States

Shipping

  • United States

    Standard Shipping is $5.99 (Excluding Alaska & Hawaii). Free on orders of $49 or more.

    Local Express is $5.99 (Available in Parts of CA, NJ, MA & PA). Free on orders of $49 or more.

    2-Day Express (Includes Alaska & Hawaii) starts at $19.99.

Return Policy

Yami is committed to provide our customers with a peace of mind when purchasing from us. Most items shipped from Yamibuy.com can be returned within 30 days of receipt of shipment (For Food, Beverages, Snacks, Dry Goods, Health supplements, Fresh Grocery and Perishables Goods, within 7 days of receipt of shipment due to damages or quality issues; To ensure that every customer receives safe and high-quality products, we do not provide refunds or returns for beauty products once they have been opened or used, except in the case of quality issues; Some products may have different policies or requirements associated with them, please see below for products under special categories, or contact Yami Customer Service for further assistance).
Thank you for your understanding and support.

Learn More

Sold by Yami

Terms and Conditions of Yami E-Gift Card

If you choose “Redeem automatically” as your delivery method, your gift card balance will be reload automatically after your order has been processed successfully;

If you choose “Send to Email”as your delivery method, the card number and CVV will be sent to the email address automatically;

Any user can use the card number and CVV to redeem the gift card, please keep your gift card information safely. If you have any trouble receiving email, please contact Yami customer service;

Yami gift card can be used to purchase both Yami owned or Marketplace products;

Yami gift card will never expire;

Yami gift card balance does not have to be used up at once;

All rights reserved by Yami.

Return Policy

Gift card that has already been consumed is non-refundable.

Sold by JD@CHINA

Service Guarantee

Yami Free Shipping over $49
Yami Easy Returns
Yami Ships from United States

Shipping

  • United States

    Standard Shipping is $5.99 (Excluding Alaska & Hawaii). Free on orders of $49 or more.

    Local Express is $5.99 (Available in Parts of CA, NJ, MA & PA). Free on orders of $49 or more.

    2-Day Express (Includes Alaska & Hawaii) starts at $19.99.

Return Policy

You may return product within 30 days upon receiving the product. Items returned must be new in it's original packing, including the original invoice for the purchase. Customer return product at their own expense.

Sold by JD@CHINA

Service Guarantee

Yami Cross-store Free Shipping over $69
Yami 30-days Return

Yami-China FC

Yami has a consolidation warehouse in China which collects multiple sellers’ packages and combines to one order. Our Yami consolidation warehouse will directly ship the packages to your door. Cross-store free shipping over $69.

Return Policy

You may return products within 30 days upon receiving the products. Sellers take responsibilities for any wrong shipment or missing items. Packing needs to be unopened for any other than quality issues return. We promise to pack carefully, but because goods are taking long journey to destinations, simple damages to packaging may occur. Any damages not causing internal goods quality problems are not allowed to return. If you open the package and any quality problem is found, please contact customer service within three days after receipt of goods.

Shipping Information

Yami Consolidation Service Shipping Fee $9.99(Free shipping over $69)

Sellers in China will ship their orders within 1-2 business days once the order is placed. Packages are sent to our consolidation warehouse in China and combined there. Our Yami consolidation warehouse will directly ship the packages to you via UPS. The average time for UPS to ship from China to the United States is about 10 working days and it can be traced using the tracking number. Due to the pandemic, the delivery time may be delayed by about 5 days. The package needs to be signed by the guest. If the receipt is not signed, the customer shall bear the risk of loss of the package.

Sold by JD@CHINA

Service Guarantee

Free shipping over 69
Genuine guarantee

Shipping

Yami Consolidated Shipping $9.99(Free shipping over $69)


Seller will ship the orders within 1-2 business days. The logistics time limit is expected to be 7-15 working days. In case of customs clearance, the delivery time will be extended by 3-7 days. The final receipt date is subject to the information of the postal company.

Yami Points information

All items are excluding from any promotion or points events on Yamibuy.com

Return Policy

You may return product within 30 days upon receiving the product. Items returned must be new in it's original packing, including the original invoice for the purchase. Customer return product at their own expense.

Yami

Download the Yami App

Back Top

Recommended for You

About the brand

Jingdong book

为您推荐

Yami
欣葉
2种选择
欣叶 御大福 芋头麻薯 180g

周销量 600+

$1.66 $1.99 83折
Yami
欣葉
2种选择
欣叶 御大福 芋头麻薯 180g

周销量 600+

$1.66 $1.99 83折
Yami
欣葉
2种选择
欣叶 御大福 芋头麻薯 180g

周销量 600+

$1.66 $1.99 83折
Yami
欣葉
2种选择
欣叶 御大福 芋头麻薯 180g

周销量 600+

$1.66 $1.99 83折
Yami
欣葉
2种选择
欣叶 御大福 芋头麻薯 180g

周销量 600+

$1.66 $1.99 83折
Yami
欣葉
2种选择
欣叶 御大福 芋头麻薯 180g

周销量 600+

$1.66 $1.99 83折

Reviews{{'('+ commentList.posts_count + ')'}}

Have your say. Be the first to help other guests.

Write a review
{{ totalRating }} Write a review
  • {{i}} star

    {{i}} stars

    {{ parseInt(commentRatingList[i]) }}%

Yami Yami
{{ comment.user_name }}

{{ showTranslate(comment) }}Show Less

{{ strLimit(comment,800) }}Show more

Show Original

{{ comment.content }}

Yami
Show All

{{ formatTime(comment.in_dtm) }} VERIFIED PURCHASE {{groupData}}

{{ comment.likes_count }} {{ comment.likes_count }} {{ comment.reply_count }} {{comment.in_user==uid ? __('Delete') : __('Report')}}
Yami Yami
{{ comment.user_name }}

{{ showTranslate(comment) }}Show Less

{{ strLimit(comment,800) }}Show more

Show Original

{{ comment.content }}

Yami
Show All

{{ formatTime(comment.in_dtm) }} VERIFIED PURCHASE {{groupData}}

{{ comment.likes_count }} {{ comment.likes_count }} {{ comment.reply_count }} {{comment.in_user==uid ? __('Delete') : __('Report')}}

No related comment~

Review

Yami Yami

{{ showTranslate(commentDetails) }}Show Less

{{ strLimit(commentDetails,800) }}Show more

Show Original

{{ commentDetails.content }}

Yami
Show All

{{ formatTime(commentDetails.in_dtm) }} VERIFIED PURCHASE {{groupData}}

{{ commentDetails.likes_count }} {{ commentDetails.likes_count }} {{ commentDetails.reply_count }} {{commentDetails.in_user==uid ? __('Delete') : __('Report')}}

Please write at least one word

Comments{{'(' + replyList.length + ')'}}

Yami Yami

{{ showTranslate(reply) }}Show Less

{{ strLimit(reply,800) }}Show more

Show Original

{{ reply.reply_content }}

{{ formatTime(reply.reply_in_dtm) }}

{{ reply.reply_likes_count }} {{ reply.reply_likes_count }} {{ reply.reply_reply_count }} {{reply.reply_in_user==uid ? __('Delete') : __('Report')}}

Please write at least one word

Cancel

That’s all the comments so far!

Write a review
How would you rate this item?

Please add your comment.

  • A nice nickname will make your comments more popular!
  • The nickname in your account will be changed to the same as here.
Thanks for your review
Our community rely on great reviews like yours to find the best of Asia.

Report

If you find this content inappropriate and think it should be removed from the Yami.com site, let us know please.

Cancel

Are you sure to delete your review?

Cancel

You’ve Recently Viewed

About the brand

Jingdong book