巴菲特战略投资理念研究及在中国证券市场应用研究

Studying on the Value of Buffett's Strategic Investment and Its Application in Chinese Securities Market

巴菲特的战略投资理念主要是由战略投资理论、战略投资原则和投资行为理念构成的。战略投资理论主要包括接近零风险理论、集中投资组合理论和有效市场理论。战略投资原则主要是企业原则、经营原则、财务原则和市场原则。投资行为理念主要是指 5项投资逻辑、1 2项投资要点、8项选股标准和 2项投资方式。借鉴巴菲特的战略投资理念 ,充分考虑中国证券市场的现状 ,中国证券市场应是以中短期投资活动构成战略投资为理念的。

The value of Buffett's strategic investment consists of strategic investment theory and its principles and the value of investment behaviors. The theory of strategic investment mainly includes near zero risk theory, the theory of intensive investment combination and that of effective market. Strategic investment principles refer to the principles of enterprise, management, financial operation and market. The value of investment behavior includes 5 items of investment logic, 12 items of investment keys, 8 items of selecting stock principles, and 2 items of investment ways. In view of Buffett's strategic investment value, the paper holds the strategic investment adapting to the situations of Chinese securities market should adopt a short or middle term investment value.