Miracle maker
Buffett's senior apprentice其实可以用查理芒格先生的反向思维法想像一下，假如大部分股民都成了价值投资者，股市会发生什么？我估计是优秀公司的股票会无限接近于债券，且长期持有收益率相较原本的情况会大幅降低。平庸公司的股价则长期横盘。糟糕公司股票逐步下跌甚至到退市。所以反推回来可以说，是因为投机者众多造就了股市的大幅波动，才赋予了价值投资的高回报价值，同时也活跃了股票的流动性，让你的投资随时可以变现。所以假如有人嘲笑价值投资，大可不必计较，因为没有他们，那些实践价值投资的人就无钱可赚。$Berkshire Hathaway B(BRK.B.US)
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