查理芒格：人生中回报最高的投资，90％的人一辈子都不懂！

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人们总问我

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芒格先生

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你这一生最成功的投资是什么

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他们以为我会说可口可乐会说伯克希尔会说某个翻了几十倍的股票

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我笑了

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我这一生最成功的投资不是任何一张股票

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而是我投资在自己脑袋里的那些东西

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知识理性节制

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还有那种能在所有人发疯时保持冷静的能力

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这听起来不性感

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我知道现代人想要的是快速致富的秘诀

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是一夜暴富的公式

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是不用努力就能躺着赚钱的方法

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可我得告诉你一个残酷的真相

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如果你把人生当成一场投资游戏

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那最值得下注的标的永远不是外部世界的任何东西

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而是你自己

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你的思维方式

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你的情绪控制

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你的判断力

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你对愚蠢的抵抗能力

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这些才是真正的资产

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而绝大多数人一辈子都在错误的地方下注

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他们把全部精力放在追逐机会与测试场

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寻找风口

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却从不花时间去理解自己

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为什么总是做错决定

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我见过太多聪明人破产

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不是因为他们不懂财报

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而是因为他们不懂自己

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他们以为自己理性

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其实只是在自欺欺人

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他们以为自己冷静

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其实情绪比股价波动还剧烈

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投资这件事到头来不是数学游戏

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而是心理游戏

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而你若连自己的心理都不投资

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那你永远只是市场的韭菜

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我出生在1924年

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那是一个即将崩溃的时代

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5年后

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1929年

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大萧条来了

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整个世界像多米诺骨牌一样倒下

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我还记得那些日子

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街上到处都是失业的人

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穿着体面的西装

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手里举着愿意工作换取面包的牌子

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他们不是懒惰

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他们只是在错误的时间

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用错误的方式相信了错误的东西

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那段经历在我心里刻下了一道永远无法抹去的痕迹

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我看到了人性在绝望中的样子

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也看到了那些活下来的人有什么共同点

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不是聪明

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不是学历

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也不是运气

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而是他们懂得控制自己的欲望

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懂得在好时光里保持警惕

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懂得在坏时光里保持尊严

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我年轻时也犯过蠢

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我以为自己很聪明

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以为自己比市场更懂趋势

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以为自己能抓住每一个机会

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结果呢我在几次投资里亏得一塌糊涂

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不是因为市场错了

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而是因为我太自信了

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我以为我知道

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其实我什么都不知道

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那些教训很贵

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但他们教会了我一件事

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投资最重要的不是你知道什么

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而是你知道自己不知道什么

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这听起来像绕口令

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但这是我用真金白银换来的智慧

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后来我遇到了沃伦巴菲特

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我们开始合作

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开始建立伯克希尔

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很多人以为我们的成功来自于选股能力

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来自于对企业的洞察

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错我们的成功来自于我们懂得控制自己

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我们懂得在所有人疯狂时保持冷静

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在所有人恐慌时保持理性

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这不是天赋

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这是训练出来的

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而这个总训练才是我这一生最重要的投资

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如果你现在手上有10万块钱

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你会怎么用

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多数人会想我该买什么股票

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该投资什么标的

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可我会问你另一个问题

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你花了多少时间去提升自己的判断力

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你花了多少精力去理解自己的情绪模式

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你有没有投资在让自己变得更理性

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更冷静

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更有纪律的事情上

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如果没有

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那你拿着那10万块钱去市场

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只是在送钱给那些比你更懂自己的人

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我这一生见过无数有钱人

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他们赚的多

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但活得累

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为什么

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因为他们从来没有投资在自己的心智上

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他们的财富是外部的

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脆弱的

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随时可能因为一个错误的决定而蒸发

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而那些真正富有的人

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他们的财富是内部的

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他们懂得如何思考

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如何判断

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如何在混乱中保持清醒

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这种能力才是真正的护城河

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我常说

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投资的本质不是找机会

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而是避免愚蠢

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而避免愚蠢的第一步就是了解自己哪里容易犯蠢

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你贪婪吗

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你容易嫉妒吗

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你会因为别人赚钱而焦虑吗

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你能承受多大的损失而不做出更蠢的决定

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这些问题比任何财报分析都重要

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因为市场会测是你的弱点

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他不会测试你的智商

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我见过太多高智商的穷人

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也见过不少智商普通但活得很好的人

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差别在哪里

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在于他们是否投资在自己的理性上

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理性不是天生的

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他是可以训练的

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你可以通过阅读思考

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反省

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犯错修正来提升自己的理性水平

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而这种提升会让你在未来的每一个决策中受益

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这才是复利

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真正的力量不是金钱的福利

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而是智慧的复利

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你每天进步一点点

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10年后你就会站在一个完全不同的高度

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而那些只盯着股价的人

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永远只能在原地打转

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我这一生见过太多聪明人毁在同样的地方

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不是市场杀了他们

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是他们自己的人性杀了他们

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让我告诉你自己个故事

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第一个故事关于一位律师朋友

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他很聪明

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收入很高

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50多岁事业顺利

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有一天他看到朋友靠科技股赚了大钱

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心里开始养

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他

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觉得自己也能

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毕竟他那么聪明

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于是他开始研究

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看报告

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听消息

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然后他把大部分积蓄投进去

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一开始确实赚了

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他更加自信

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他开始加码甚至借钱

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他说这是杠杆

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聪明人都这么做

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结果市场转向他的账户在几个月内腰斩

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他没有止损

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因为他相信自己是对的

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市场只是暂时错了

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最后他不仅亏光了积蓄

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还背上了债务

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他来找我

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眼睛红肿

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声音颤抖

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他说芒哥我不懂

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我明明做了那么多研究

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我看着他只说了一句话

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你研究的是股票

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但你从没研究过自己

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你不懂自己的贪婪

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不懂自己的恐惧

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也不懂自己在压力下会做出什么蠢事

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你以为投资是智力游戏

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其实他是情绪游戏

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而你输在情绪上

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第二个故事关于一位退休教授

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他一生节俭存了不少钱

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本来可以安稳度日

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可他有个问题

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他受不了无聊

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退休后

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他每天无所事事

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觉得生活失去意义

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于是他开始炒股

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每天盯盘看新闻

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听专家

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他不是为了赚钱

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他只是需要一种参与感

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结果呢他在短线交易里亏掉了大半退休金

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不是因为他不聪明

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而是因为他把投资当成了娱乐

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他需要刺激

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需要感觉自己还在掌控什么

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可市场不是游乐场

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它是战场

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而他带着玩具枪上了战场

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我见过他最后一次

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他说芒格

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我现在才懂

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钱不是问题

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寂寞才是我

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点点头

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是的

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很多人投资不是为了财富

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而是为了逃避内心的空虚

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而市场会让你为这种逃避付出代价

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第三个故事关于一位企业家

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他很成功

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白手起家

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建立了一家不错的公司

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但他有个致命的弱点

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他太在乎别人怎么看他

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当他的朋友们开始谈论房地产

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虚拟货币

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新创投资

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他坐不住了

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他觉得自己不能落后

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不能让别人觉得他老了过时了

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于是他开始追风口

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投资各种他根本不懂的东西

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他说我不能错过这个时代

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结果他在58岁那年

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把大半资产亏在一个根本不存在的商业模式上

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他不是输给市场

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他是输给虚荣

234
00:08:34,308 --> 00:08:36,149
当我最后见到他时

235
00:08:36,149 --> 00:08:38,668
他说了一句让我印象深刻的话

236
00:08:38,668 --> 00:08:43,320
他说芒格我这辈子最大的错误就是太在乎别人的眼光

237
00:08:43,320 --> 00:08:45,240
我本来可以安稳的老去

238
00:08:45,240 --> 00:08:47,159
但我选择了证明自己

239
00:08:47,159 --> 00:08:48,929
结果我什么都没证明

240
00:08:48,929 --> 00:08:51,029
只证明了自己有多愚蠢

241
00:08:51,029 --> 00:08:53,870
这三个故事都指向同一个真相

242
00:08:53,870 --> 00:08:57,229
人性的弱点才是投资最大的风险

243
00:08:57,229 --> 00:08:58,349
贪婪恐惧

244
00:08:58,349 --> 00:09:00,299
虚荣寂寞嫉妒

245
00:09:00,299 --> 00:09:02,919
这些东西比任何市场波动都危险

246
00:09:02,919 --> 00:09:04,419
而如果你从不投资

247
00:09:04,419 --> 00:09:06,080
在理解自己的人性上

248
00:09:06,080 --> 00:09:08,659
那你永远只是情绪的奴隶

249
00:09:08,659 --> 00:09:09,779
我活得够久

250
00:09:09,779 --> 00:09:11,779
看过太多周期繁荣

251
00:09:11,779 --> 00:09:14,089
崩溃复苏再繁荣

252
00:09:14,089 --> 00:09:15,589
每一轮都一样

253
00:09:15,589 --> 00:09:17,129
只是演员不同

254
00:09:17,129 --> 00:09:19,000
而我发现一个规律

255
00:09:19,000 --> 00:09:21,340
短期内市场讲利运气

256
00:09:21,340 --> 00:09:22,759
但长期来看

257
00:09:22,759 --> 00:09:24,750
市场只讲利理性

258
00:09:24,750 --> 00:09:28,210
那些能活得久的人都有一个共同特质

259
00:09:28,210 --> 00:09:29,940
他们懂得控制自己

260
00:09:29,940 --> 00:09:31,320
不是控制市场

261
00:09:31,320 --> 00:09:33,039
而是控制自己的欲望

262
00:09:33,039 --> 00:09:34,360
恐惧冲动

263
00:09:34,360 --> 00:09:37,879
我和巴菲特自己10年来最大的优势

264
00:09:37,879 --> 00:09:39,779
不是我们比别人聪明

265
00:09:39,779 --> 00:09:43,240
而是我们能在别人疯狂时保持冷静

266
00:09:43,240 --> 00:09:45,019
1973年股灾

267
00:09:45,019 --> 00:09:46,740
所有人都在抛售

268
00:09:46,740 --> 00:09:47,820
我们没动

269
00:09:47,820 --> 00:09:50,299
1999年网络泡沫

270
00:09:50,299 --> 00:09:52,580
所有人都在追逐科技股

271
00:09:52,580 --> 00:09:53,659
我们没碰

272
00:09:53,659 --> 00:09:55,759
2008年金融危机

273
00:09:55,759 --> 00:09:57,320
所有人都在恐慌

274
00:09:57,320 --> 00:09:58,399
我们在买进

275
00:09:58,399 --> 00:10:00,559
不是因为我们能预测未来

276
00:10:00,559 --> 00:10:02,629
而是因为我们懂得等待

277
00:10:02,629 --> 00:10:04,350
等待不是什么都不做

278
00:10:04,350 --> 00:10:06,049
而是不被情绪驱动

279
00:10:06,049 --> 00:10:08,309
这需要极大的心理力量

280
00:10:08,309 --> 00:10:11,149
而这种力量来自于你对自己的投资

281
00:10:11,149 --> 00:10:12,590
你读过多少书

282
00:10:12,590 --> 00:10:14,450
你思考过多少问题

283
00:10:14,450 --> 00:10:17,179
你反省过多少次自己的错误

284
00:10:17,179 --> 00:10:20,820
你有没有建立一套属于自己的思考框架

285
00:10:20,820 --> 00:10:23,220
这些才是真正的护城河

286
00:10:23,220 --> 00:10:25,979
我常说投资是一场马拉松

287
00:10:25,979 --> 00:10:27,379
不是百米冲刺

288
00:10:27,379 --> 00:10:30,698
而在马拉松里最重要的不是起跑速度

289
00:10:30,698 --> 00:10:31,899
而是续航力

290
00:10:31,899 --> 00:10:33,450
续航力来自哪里

291
00:10:33,450 --> 00:10:35,690
来自于你的心智强度

292
00:10:35,690 --> 00:10:37,828
你能承受多久的无聊

293
00:10:37,828 --> 00:10:39,989
你能忍受多久的孤独

294
00:10:39,989 --> 00:10:42,349
你能在所有人都怀疑你时

295
00:10:42,349 --> 00:10:44,568
依然坚持自己的判断吗

296
00:10:44,568 --> 00:10:46,539
这些能力都需要训练

297
00:10:46,539 --> 00:10:49,620
而训练的过程就是对自己的投资

298
00:10:49,620 --> 00:10:52,179
我年轻时也没有这些能力

299
00:10:52,179 --> 00:10:53,610
我也会焦虑

300
00:10:53,610 --> 00:10:54,549
会怀疑

301
00:10:54,549 --> 00:10:55,929
会想要快一点

302
00:10:55,929 --> 00:10:58,049
但我慢慢学会了一件事

303
00:10:58,049 --> 00:11:01,159
市场不会因为你焦虑就对你温柔

304
00:11:01,159 --> 00:11:03,350
他只会惩罚你的焦虑

305
00:11:03,350 --> 00:11:05,149
所以我开始训练自己

306
00:11:05,149 --> 00:11:06,070
训练自己

307
00:11:06,070 --> 00:11:08,029
在波动中保持平静

308
00:11:08,029 --> 00:11:10,330
训练自己在诱惑面前说

309
00:11:10,330 --> 00:11:12,198
不训练自己

310
00:11:12,198 --> 00:11:14,198
在所有人都在行动时

311
00:11:14,198 --> 00:11:15,450
能够坐着不动

312
00:11:15,450 --> 00:11:18,490
这些训练比任何投资课程都有用

313
00:11:18,490 --> 00:11:20,809
因为他们不是教你怎么赚钱

314
00:11:20,809 --> 00:11:22,818
而是教你怎么不亏钱

315
00:11:22,818 --> 00:11:24,359
而在投资的世界

316
00:11:24,359 --> 00:11:26,798
理不亏钱就是最大的胜利

317
00:11:26,798 --> 00:11:29,600
时间是世界上最诚实的裁判

318
00:11:29,600 --> 00:11:30,639
他不会说谎

319
00:11:30,639 --> 00:11:32,000
也不会欺骗他

320
00:11:32,000 --> 00:11:33,580
只会让真相浮现

321
00:11:33,580 --> 00:11:35,480
而那些真相总是同样的

322
00:11:35,480 --> 00:11:37,370
理性的人活得久

323
00:11:37,370 --> 00:11:38,830
冲动的人死得快

324
00:11:38,830 --> 00:11:40,389
节制的人越来越富

325
00:11:40,389 --> 00:11:41,970
贪婪的人越来越穷

326
00:11:41,970 --> 00:11:43,330
这不是道德说教

327
00:11:43,330 --> 00:11:44,470
这是数学

328
00:11:44,470 --> 00:11:46,269
而数学从不撒谎

329
00:11:46,269 --> 00:11:47,950
我活了99年

330
00:11:47,950 --> 00:11:50,068
见过太多人生的起伏

331
00:11:50,068 --> 00:11:52,349
有人从贫穷到富有

332
00:11:52,349 --> 00:11:54,208
又从富有到贫穷

333
00:11:54,208 --> 00:11:56,440
有人一生追逐财富

334
00:11:56,440 --> 00:11:59,190
最后发现自己什么都没得到

335
00:11:59,190 --> 00:12:01,029
也有人看似平凡

336
00:12:01,029 --> 00:12:02,629
却活得安稳自在

337
00:12:02,629 --> 00:12:03,509
这些年来

338
00:12:03,509 --> 00:12:05,480
我慢慢看透了一个真相

339
00:12:05,480 --> 00:12:08,659
人类的痛苦多数来自于欲望

340
00:12:08,659 --> 00:12:10,080
不是欲望本身

341
00:12:10,080 --> 00:12:12,279
而是对欲望失去控制

342
00:12:12,279 --> 00:12:13,539
你想要更多

343
00:12:13,539 --> 00:12:14,500
永远更多

344
00:12:14,500 --> 00:12:15,519
更多的钱

345
00:12:15,519 --> 00:12:16,659
更大的房子

346
00:12:16,659 --> 00:12:17,480
更好的车

347
00:12:17,480 --> 00:12:18,620
更高的地位

348
00:12:18,620 --> 00:12:20,679
可你有没有问过自己

349
00:12:20,679 --> 00:12:23,539
这些东西真的更会让你快乐吗

350
00:12:23,539 --> 00:12:25,659
我见过太多有钱人

351
00:12:25,659 --> 00:12:26,960
他们拥有一切

352
00:12:26,960 --> 00:12:28,220
却活得像囚犯

353
00:12:28,220 --> 00:12:29,340
他们每天焦虑

354
00:12:29,340 --> 00:12:30,100
担心失去

355
00:12:30,100 --> 00:12:31,879
担心别人比他们更成功

356
00:12:31,879 --> 00:12:33,340
他们的财富不是自由

357
00:12:33,340 --> 00:12:34,240
而是枷锁

358
00:12:34,240 --> 00:12:37,240
因为他们从来没有学会控制自己的欲望

359
00:12:37,240 --> 00:12:38,700
欲望就像火少一点

360
00:12:38,700 --> 00:12:39,740
他能温暖你

361
00:12:39,740 --> 00:12:41,820
多了它会烧毁女儿

362
00:12:41,820 --> 00:12:45,399
现代社会到处都在煽动你的欲望

363
00:12:45,399 --> 00:12:46,479
广告告诉你

364
00:12:46,479 --> 00:12:47,558
你值得拥有

365
00:12:47,558 --> 00:12:49,099
社交媒体告诉你

366
00:12:49,099 --> 00:12:50,479
别人都比你过得好

367
00:12:50,479 --> 00:12:51,818
专家告诉你

368
00:12:51,818 --> 00:12:53,899
现在不投资就来不及了

369
00:12:53,899 --> 00:12:55,219
这些都是谎言

370
00:12:55,219 --> 00:12:56,798
他们的目的只有一个

371
00:12:56,798 --> 00:12:57,798
让你焦虑

372
00:12:57,798 --> 00:12:58,899
让你行动

373
00:12:58,899 --> 00:13:00,080
让你花钱

374
00:13:00,080 --> 00:13:03,750
而真正聪明的人懂得拒绝这些噪音

375
00:13:03,750 --> 00:13:07,429
我这一生最大的自由不是我能买什么

376
00:13:07,429 --> 00:13:09,480
而是我不需要买什么

377
00:13:09,480 --> 00:13:11,240
我住在同一栋房子

378
00:13:11,240 --> 00:13:11,919
几十年

379
00:13:11,919 --> 00:13:13,960
开同一辆车很多年

380
00:13:13,960 --> 00:13:16,279
不是因为我买不起更好的

381
00:13:16,279 --> 00:13:18,379
而是因为我不需要

382
00:13:18,379 --> 00:13:20,480
我早就明白了一个道理

383
00:13:20,480 --> 00:13:23,179
财富的意义不是让你拥有更多

384
00:13:23,179 --> 00:13:25,049
而是让你需要更少

385
00:13:25,049 --> 00:13:26,710
当你需要的越少

386
00:13:26,710 --> 00:13:27,929
你就越自由

387
00:13:27,929 --> 00:13:29,129
当你越自由

388
00:13:29,129 --> 00:13:30,429
你就越快乐

389
00:13:30,429 --> 00:13:32,210
这听起来很简单

390
00:13:32,210 --> 00:13:34,250
但几乎没人做得到

391
00:13:34,250 --> 00:13:37,779
因为人类的大脑天生就喜欢比较

392
00:13:37,779 --> 00:13:40,220
你看到邻居换了新车

393
00:13:40,220 --> 00:13:42,519
你就觉得自己的车旧了

394
00:13:42,519 --> 00:13:44,720
你看到朋友买了大房子

395
00:13:44,720 --> 00:13:47,068
你就觉得自己的房子小了

396
00:13:47,068 --> 00:13:49,729
这种比较永远没有镜头

397
00:13:49,729 --> 00:13:54,610
而没有镜头的比较只会带来没有尽头的痛苦

398
00:13:54,610 --> 00:13:57,470
我年轻时也陷入过这种陷阱

399
00:13:57,470 --> 00:13:59,590
我也会羡慕别人

400
00:13:59,590 --> 00:14:01,870
也会觉得自己不够好

401
00:14:01,870 --> 00:14:03,909
但后来我学会了一件事

402
00:14:03,909 --> 00:14:04,990
停止比较

403
00:14:04,990 --> 00:14:06,769
我只和自己比较

404
00:14:06,769 --> 00:14:09,190
我今天比昨天更理性吗

405
00:14:09,190 --> 00:14:11,710
我今天比昨天更冷静吗

406
00:14:11,710 --> 00:14:14,850
我今天是否又学到了什么新东西

407
00:14:14,850 --> 00:14:16,590
当你开始这样思考

408
00:14:16,590 --> 00:14:20,620
你就会发现外在的一切都不再重要

409
00:14:20,620 --> 00:14:24,009
因为你的成长不需要任何人的认可

410
00:14:24,009 --> 00:14:26,350
欲望的尽头不是满足

411
00:14:26,350 --> 00:14:27,490
而是觉醒

412
00:14:27,490 --> 00:14:31,580
觉醒到你不再需要用物质来证明自己

413
00:14:31,580 --> 00:14:36,649
觉醒到你可以在简单的生活里找到真正的快乐

414
00:14:36,649 --> 00:14:40,049
而这种觉醒才是人生最重要的投资

415
00:14:40,049 --> 00:14:44,759
因为它会让你在任何环境下都能保持内心的平静

416
00:14:44,759 --> 00:14:47,000
而平静才是真正的财富

417
00:14:47,000 --> 00:14:48,099
黄金法则

418
00:14:48,099 --> 00:14:53,019
我这一生学到的东西其实可以浓缩成几句话

419
00:14:53,019 --> 00:14:55,379
这些话听起来简单

420
00:14:55,379 --> 00:14:58,500
但每一句都是用真金白银换来的

421
00:14:58,500 --> 00:14:59,080
第一句

422
00:14:59,080 --> 00:15:01,429
慢就是快的最高形式

423
00:15:01,429 --> 00:15:04,149
所有人都想快快速致富

424
00:15:04,149 --> 00:15:05,269
快速成功

425
00:15:05,269 --> 00:15:06,710
快速得到一切

426
00:15:06,710 --> 00:15:08,049
可我告诉你

427
00:15:08,049 --> 00:15:10,970
越快的路越通向悬崖

428
00:15:10,970 --> 00:15:14,289
真正的财富都是慢慢积累出来的

429
00:15:14,289 --> 00:15:16,339
你要给时间机会

430
00:15:16,339 --> 00:15:18,119
让复利发挥作用

431
00:15:18,119 --> 00:15:20,599
而复利需要的不是聪明

432
00:15:20,599 --> 00:15:21,629
是耐心

433
00:15:21,629 --> 00:15:22,389
第二句

434
00:15:22,389 --> 00:15:24,330
克制是最稀有的天赋

435
00:15:24,330 --> 00:15:26,559
这个世界不缺聪明人

436
00:15:26,559 --> 00:15:28,679
缺的是能控制自己的人

437
00:15:28,679 --> 00:15:30,240
能在诱惑面前说

438
00:15:30,240 --> 00:15:33,509
不能在恐惧中保持冷静

439
00:15:33,509 --> 00:15:36,590
能在所有人都疯狂时保持理性

440
00:15:36,590 --> 00:15:39,328
这种能力比任何智商都值钱

441
00:15:39,328 --> 00:15:40,208
第三句

442
00:15:40,208 --> 00:15:42,308
理性才是真正的护城河

443
00:15:42,308 --> 00:15:43,668
你可以失去金钱

444
00:15:43,668 --> 00:15:45,220
但不能失去理性

445
00:15:45,220 --> 00:15:47,039
钱亏了还能赚回来

446
00:15:47,039 --> 00:15:49,480
理性丢了你就什么都没了

447
00:15:49,480 --> 00:15:51,440
理性让你看清真相

448
00:15:51,440 --> 00:15:53,360
让你做出正确的判断

449
00:15:53,360 --> 00:15:55,750
让你在混乱中找到方向

450
00:15:55,750 --> 00:15:56,429
第四句

451
00:15:56,429 --> 00:15:58,809
自由是可以说不的能力

452
00:15:58,809 --> 00:16:01,330
真正的自由不是你能买什么

453
00:16:01,330 --> 00:16:03,129
而是你可以拒绝什么

454
00:16:03,129 --> 00:16:05,490
当你不需要取悦任何人

455
00:16:05,490 --> 00:16:07,129
不需要证明任何事

456
00:16:07,129 --> 00:16:08,870
不需要追逐任何潮流

457
00:16:08,870 --> 00:16:10,750
那才是真正的自由

458
00:16:10,750 --> 00:16:11,840
第五句

459
00:16:11,840 --> 00:16:14,120
财富的尽头是宁静

460
00:16:14,120 --> 00:16:15,379
不是数字

461
00:16:15,379 --> 00:16:18,340
很多人以为有钱就会快乐

462
00:16:18,340 --> 00:16:19,460
其实不然

463
00:16:19,460 --> 00:16:22,159
快乐来自于内心的平静

464
00:16:22,159 --> 00:16:25,919
而平静来自于你不再被欲望控制

465
00:16:25,919 --> 00:16:28,240
当你看透了金钱的本质

466
00:16:28,240 --> 00:16:30,759
你就会发现它只是工具

467
00:16:30,759 --> 00:16:31,740
不是目的

468
00:16:31,740 --> 00:16:32,639
第六句

469
00:16:32,639 --> 00:16:33,879
聪明人想赢

470
00:16:33,879 --> 00:16:35,690
智者只想活下去

471
00:16:35,690 --> 00:16:37,070
赢是短期的

472
00:16:37,070 --> 00:16:38,850
活下去是长期的

473
00:16:38,850 --> 00:16:40,929
而在投资的世界里

474
00:16:40,929 --> 00:16:43,440
能活得久的人最后都会赢

475
00:16:43,440 --> 00:16:44,460
第七句

476
00:16:44,460 --> 00:16:47,399
投资自己是唯一稳赚不赔的生意

477
00:16:47,399 --> 00:16:48,820
你可以投资股票

478
00:16:48,820 --> 00:16:49,840
投资房地产

479
00:16:49,840 --> 00:16:51,450
投资各种标的

480
00:16:51,450 --> 00:16:53,769
但如果你不投资自己的脑袋

481
00:16:53,769 --> 00:16:55,389
那一切都是徒劳

482
00:16:55,389 --> 00:16:59,799
因为再好的机会也需要有能力的人去把握

483
00:16:59,799 --> 00:17:02,818
而能力来自于你对自己的投资

484
00:17:02,818 --> 00:17:05,838
这些法则听起来都很简单

485
00:17:05,838 --> 00:17:08,219
简单到很多人会忽略他们

486
00:17:08,219 --> 00:17:09,259
可我告诉你

487
00:17:09,259 --> 00:17:11,519
简单的东西往往最有力量

488
00:17:11,519 --> 00:17:13,679
因为真理从来不复杂

489
00:17:13,679 --> 00:17:15,959
复杂的只是人类的欲望

490
00:17:15,959 --> 00:17:20,049
当你能把这些简单的法则内化成习惯

491
00:17:20,049 --> 00:17:22,490
你就已经超越了九成的人

492
00:17:22,490 --> 00:17:25,319
而剩下的只需要交给时间

493
00:17:25,319 --> 00:17:27,359
现在我99岁了

494
00:17:27,359 --> 00:17:28,839
回头看这一生

495
00:17:28,839 --> 00:17:30,720
我没有什么后悔的

496
00:17:30,720 --> 00:17:32,759
不是因为我没犯过错

497
00:17:32,759 --> 00:17:36,279
而是因为我从每个错误里学到了东西

498
00:17:36,279 --> 00:17:38,680
我年轻时也贪婪过

499
00:17:38,680 --> 00:17:40,049
也恐惧过

500
00:17:40,049 --> 00:17:41,230
也冲动过

501
00:17:41,230 --> 00:17:44,150
但我慢慢学会了控制这些情绪

502
00:17:44,150 --> 00:17:48,589
我学会了在市场的噪音里保持内心的安静

503
00:17:48,589 --> 00:17:51,509
我学会了在所有人都焦虑时

504
00:17:51,509 --> 00:17:52,990
依然能够思考

505
00:17:52,990 --> 00:17:55,980
我学会了在诱惑面前微笑着说不

506
00:17:55,980 --> 00:17:57,660
这些能力不是天生的

507
00:17:57,660 --> 00:17:59,079
而是训练出来的

508
00:17:59,079 --> 00:18:02,559
而这种训练才是我这一生最重要的投资

509
00:18:02,559 --> 00:18:04,740
如果让我给年轻人一个建议

510
00:18:04,740 --> 00:18:06,680
我会说别急着赚钱

511
00:18:06,680 --> 00:18:08,519
先投资你的脑袋

512
00:18:08,519 --> 00:18:10,200
读书思考反省

513
00:18:10,200 --> 00:18:11,319
犯错修正

514
00:18:11,319 --> 00:18:12,980
让自己变得更理性

515
00:18:12,980 --> 00:18:13,640
更冷静

516
00:18:13,640 --> 00:18:14,619
更有纪律

517
00:18:14,619 --> 00:18:18,700
这些能力会让你在未来的每一个决策中受益

518
00:18:18,700 --> 00:18:20,559
而当你拥有了这些能力

519
00:18:20,559 --> 00:18:22,619
财富自然会来找你

520
00:18:22,619 --> 00:18:26,309
因为市场永远在寻找理性的人

521
00:18:26,309 --> 00:18:28,710
而理性的人永远稀缺

522
00:18:28,710 --> 00:18:31,329
我知道这些话听起来不刺激

523
00:18:31,329 --> 00:18:34,630
现代人想要的是快速致富的秘诀

524
00:18:34,630 --> 00:18:36,659
是一夜暴富的方法

525
00:18:36,659 --> 00:18:38,038
可我得告诉你

526
00:18:38,038 --> 00:18:39,538
那些都是幻觉

527
00:18:39,538 --> 00:18:42,858
真正的财富来自于长期的积累

528
00:18:42,858 --> 00:18:45,630
而长期的积累需要的是耐心

529
00:18:45,630 --> 00:18:46,549
理性啊

530
00:18:46,549 --> 00:18:48,609
还有对自己的投资

531
00:18:48,609 --> 00:18:51,150
人生最重要的投资不是股票

532
00:18:51,150 --> 00:18:52,409
不是房地产

533
00:18:52,409 --> 00:18:54,348
也不是任何外在的东西

534
00:18:54,348 --> 00:18:55,388
而是你自己

535
00:18:55,388 --> 00:18:56,950
你的思维方式

536
00:18:56,950 --> 00:18:58,470
你的情绪控制

537
00:18:58,470 --> 00:18:59,750
你的判断力

538
00:18:59,750 --> 00:19:01,710
这些才是真正的资产

539
00:19:01,710 --> 00:19:06,229
而这些资产会陪伴你一生永不贬值

540
00:19:06,229 --> 00:19:08,368
当你到了我这个年纪

541
00:19:08,368 --> 00:19:09,548
你会明白

542
00:19:09,548 --> 00:19:11,848
财富的尽头不是奢华

543
00:19:11,848 --> 00:19:14,159
而是宁静而宁静

544
00:19:14,159 --> 00:19:17,058
来自于你终于明白了一件事

545
00:19:17,058 --> 00:19:19,059
你不需要证明什么

546
00:19:19,059 --> 00:19:20,619
不需要饮过水

547
00:19:20,619 --> 00:19:22,699
也不需要拥有更多

548
00:19:22,699 --> 00:19:24,378
你只需要做自己

549
00:19:24,378 --> 00:19:25,318
保持理性

550
00:19:25,318 --> 00:19:26,199
享受生活

551
00:19:26,199 --> 00:19:27,858
这才是真正的富有

552
00:19:27,858 --> 00:19:29,878
我这一生靠的不是天才

553
00:19:29,878 --> 00:19:31,109
而是不犯蠢

554
00:19:31,109 --> 00:19:33,910
我没有做出什么惊天动地的决定

555
00:19:33,910 --> 00:19:36,470
我只是少做了很多愚蠢的事

556
00:19:36,470 --> 00:19:40,720
而这些少做的蠢事加起来就成了我的财富

557
00:19:40,720 --> 00:19:44,380
所以如果你问我人生最重要的投资是什么

558
00:19:44,380 --> 00:19:45,440
我会告诉你

559
00:19:45,440 --> 00:19:46,609
投资你自己

560
00:19:46,609 --> 00:19:47,930
投资你的理性

561
00:19:47,930 --> 00:19:48,690
你的节制

562
00:19:48,690 --> 00:19:49,650
你的耐心

563
00:19:49,650 --> 00:19:55,190
投资那些能让你在任何环境下都能保持清醒的能力

564
00:19:55,190 --> 00:19:57,990
这才是真正稳赚不赔的生意

565
00:19:57,990 --> 00:19:59,969
而当你做到了这一点

566
00:19:59,969 --> 00:20:03,108
你会发现金钱只是副产品

567
00:20:03,108 --> 00:20:05,229
智慧才是真正的财富

568
00:20:05,229 --> 00:20:06,980
理性只是工具

569
00:20:06,980 --> 00:20:09,279
平静才是最终的回报

570
00:20:09,279 --> 00:20:11,950
这就是我这一生想告诉你的

571
00:20:11,950 --> 00:20:14,869
人生最重要的投资不是股票

572
00:20:14,869 --> 00:20:16,009
而是你自己

573
00:20:16,009 --> 00:20:19,490
而这个投资永远不会让你失望

574
00:20:19,490 --> 00:20:21,890
因为他的回报不是金钱

575
00:20:21,890 --> 00:20:24,380
而是一生的清醒与自由

576
00:20:24,380 --> 00:20:27,559
而那才是真正值得追求的东西

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