2016年8月30日是巴菲特86岁的生日。每年， 美国著名的投资评论人士Anand Chokkavelu， 投资网站The Motley Fool的总编辑， 汇总人们喜爱巴菲特的理由以庆祝巴菲特的生日， 并且每年总结一条新的理由。 以下是截至今年，其所总结的86条人们喜爱巴菲特的理由：

1. Intricate, occasionally contradictory complexity hides beneath the "Aw, shucks" folksy charm. As a Forbes writer once put it,"Buffett is not a simple person, but he has simple tastes."

对于巴菲特而言，“哎呦，我去”这一句富有草根气息的话其实有着复杂甚至有些矛盾的内涵。正如一个福布斯撰稿人说的那样，“巴菲特不是个简单的人，但他品味确实挺简单的” 。

2. Many people talk about avoiding the madding crowd, but Buffett actually does it by living 1,250 miles away from Wall Street.

许多人都说要远离尘嚣，而巴菲特是这么做的——住在离华尔街1250英里之外。

3. He has a fortress-like internal scorecard on all things investing, yet a vulnerable, endearing external scorecard on many aspects of his personal life. See his penchant for seeking mother figures.

对于他的投资，他有一张堡垒般严密而强大的内部评分卡。但是，对于他的私人生活，他有一张脆弱而又不失可爱的外部评分卡，比如他有到处寻找母亲形象的小嗜好。

4. His perspective: "In the 20th century, the United
States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil
shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497."

他的观点：“在20世纪，美国经历了两次世界大战、一些痛苦和代价高昂的冲突、大萧条时期、十来次经济衰退和经济恐慌、石油危机、流感肆虐、还有一位可耻的总统辞职了，尽管如此，道琼斯指数还是从66点上升至11,497点”

5. His perspective, part two: "All families in my
upper middle-class neighborhood regularly enjoy a living standard better than that achieved by John D. Rockefeller Sr. at the time of my birth. His unparalleled fortune couldn't buy what we now take for granted..."

他的观点：“在我周围中上层的家庭都享受着比洛克菲勒当年还要好的生活条件，洛克菲勒再有钱也没有办法买到今天司空见惯的一些东西。”

6. He is that guy in school who tells you he may have failed the test -- only to bust the top of the curve.

他就像那种常常告诉你他考试要挂了，但是最后却刷新了成绩记录的人

7. His time frame for the long run consistently exceeds his life span.

他对世界的影响比他的寿命长得多。

8. He says it better: "Someone's sitting in the shade today because someone planted a tree a long time ago."

他最有理由说：“前人栽树，后人乘凉” 。

9. He's human. He fears nuclear war and his own mortality. He's frequently more adept at business relationships than personal ones. He can hold a grudge. His hero is his daddy.

他是个普通人；他惧怕核战争和死亡；他更擅长和商业打交道而不是和人；他能够容纳不满和嫉妒；他的偶像是他的父亲。

10. Classic line: "Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1."

经典台词：“第一条规则，不要亏钱；第二条规则，永远不要忘记上一条”

11. Once branded a stingy miser (rightly or wrongly), Buffett has evolved (assuming it wasn't his intention from the start) into one of the most effective philanthropists I know. After growing his potential
givings at a 20% compounded rate per year, he set a plan to give most of it away.

虽然曾经被称为“一毛不拔的铁公鸡”（无论对错），巴菲特现在已经“成长”为我所见过的最慷慨的慈善家之一（可能并不是他的初衷）。他的财富以每年20%的速度增长，而他打算把他大多数的财富给捐出去。

12. Perhaps as importantly, he put ego aside and outsourced his charitable decision-making to the Bill & Melinda Gates Foundation. Circle of competence at its finest.

同样重要的是，他放下他的自尊心，把他那些和慈善相关的决策委托给比尔&梅琳达盖茨基金，这样他可以待在他的“竞争优势圈”内。（巴菲特推崇的一个理论，让人们只做自己熟悉的事情）。

13. "I never attempt to make money on the stock
market. I buy on the assumption that they could close the market the next day and not reopen it for five years." Contrast that with computer algorithm-based trading, day trading, and some of the moves you've made in your own account.

“我从来不指望从股票市场赚钱，我假设他们明天就会关掉这个市场，五年之后再开放”，这和那些基于电脑算法的交易行为以及你们账户上的那些交易行为可是完全不同的。

14. Buffett's smarter than you and I, but he's kind enough to let us feel otherwise.

巴菲特比你我都聪明，但是他和蔼到让我们感觉好像我们是更聪明的那个人。

15. David Sokol was once an heir apparent and arguably Buffett's most trusted operations guy. But when Sokolgate emerged, Buffett stayed true to his word: "We can afford to lose money -- even a lot of
money. But we can't afford to lose reputation -- even a shred of reputation."

戴维·索科尔曾经是巴菲特产业的继承人并且是巴菲特最信任的合作伙伴。但是“索科尔门”事件之后，巴菲特践行了他的话“我们可以蒙受经济损失—即是那是一大笔钱，但我们绝对不能蒙受声誉的损失—哪怕是一点点的名誉” 。

16. "Derivatives are financial weapons of mass
destruction." He said it early, and we are reminded of it often.

巴菲特早就说过“衍生工具是大规模杀伤性武器”，而事实一直在提醒我们这一点。

17. In a glimpse of the nuance that some commentators call hypocrisy, Buffett uses derivatives himself. But he does so in a way that doesn't threaten the entire financial system and explains exactly why in his annual shareholder letters.

瞧瞧那些评论家指责的“虚伪”吧，巴菲特的确有利用衍生工具，但是他使用衍生工具的方式绝对不会让整个金融系统崩溃，而且他会在给投资者年报中详细说明原因，这和别人使用衍生工具的方式是由区别的。

18. He doomed himself from ever holding public office: "A public-opinion poll is no substitute for thought."

他这辈子是别想干公务员了，因为他说“公投可不是思考的替代品”。

19. I like juxtaposing these two quotes: 1) "It's
better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction." 2)"Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway."

我个人喜欢把以下两句话放在一起：1、“最好和比你优秀的人共事，找出他们身上比你优秀的地方，朝着这个方向进步”；2、“华尔街恐怕是唯一一个开劳斯莱斯的人向坐地铁的人寻求建议的地方了” 。

20. "You only have to do a very few things right in
your life so long as you don't do too many things wrong."

“在一生中，你只需要把一些事情做对，从而避免把一堆事情做错” 。

21. He has the ability to resist the allure of the quick
fix or quick buck when longer-term dynamics are at play.

当长期趋势在起作用的时候，他能够抗拒抄小路和赚快钱的诱惑。

22. Not sure if this quote came before or after the
Internet: "Let blockheads read what blockheads wrote."

不确定他是在互联网出现之前还是之后说的这句话：“让笨蛋去读笨蛋写的东西吧！”

23. For those hoping to become famous and respected, he's a testament that the challenges and doubts keep coming regardless of the length of the track record. He has publicly prevailed so far.

对于那些想出名的人来说，巴菲特就是个活生生的例子。他的经历告诉我们，不管你成功了多久，质疑和挑战总是源源不断的。他可是出名够久的了。

24. An investing truism: "Price is what you pay. Value is what you get."

一个关于投资的真理：“价格是你付出的，价值是你得到的”

25. The business side of that investing truism: "Your premium brand had better be delivering something special, or it's not going to get the business."

从商业层面解读上一条的真理：“你的优质品牌最好能够实现产品差异化，不然就没人找你做生意了” 。

26. He uses colorful language and analogies when drab jargon could do the trick.

他更喜欢用有趣的语言和类比来说明问题，而不是那些专业性的“黑话”。

27. Boring example: moat vs. competitive advantage. 比较无聊的例子：壕沟VS竞争优势。

28. Not-so-boring example: sex.

不那么无聊的例子：性。

29. "Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it."

“把市场变动看作你的朋友，而不是看作敌人；从傻子身上赚钱，而不是变成他们的一员” 。

30. Classic line: "Only when the tide goes out do you discover who's been swimming naked."

经典台词：“只有退潮的时候你才知道谁在裸泳” 。

31. He backs up his saying, "Our favorite holding
period is forever," by keeping past-their-prime subsidiaries that others would "spin off to unlock value."

他践行了他自己的名言“最好的持股期是永远”。他仍然持有那些已过黄金期的子公司，而别人恐怕早就把它们卖了套现。

32. His Robin (Charlie Munger) can kick your Batman's butt.

他的罗宾（查理 芒格）能随意把你的蝙蝠侠屁股揍一顿。（罗宾是蝙蝠侠的徒弟）

33. He makes loophole-free handshake deals.

他的口头交易毫无破绽。

34. "Risk comes from not knowing what you're
doing."

“风险，是来自于你不知道你在做什么” 。

35. Quote No. 1 on keeping it simple, stupid: "The
business schools reward difficult complex behavior more than simple behavior,but simple behavior is more effective."

关于“保持简约”的第一句话，愚蠢的行为：“商学院奖励复杂的行为而不是简单的行为，然而简单的行为往往更行之有效” 。

36. Quote No. 2 on keeping it simple, stupid: "There
seems to be some perverse human characteristic that likes to make easy things difficult."

关于“保持简约”的第二句话，愚蠢的行为：“人有时候有一种扭曲的特质：把简单事情复杂化” 。

37. The Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B) annual meeting is an unrivaled spectacle in investing, truly living up to its billing as the Woodstock for Capitalists.

伯克希尔哈撒韦的年会简直就是一场无与伦比的投资盛宴，好像资本家的伍德斯托克音乐节。

38. One of the most concise summations of why America is great: "There are 309 million people out there that are trying to improve their lot in life. And we've got a system that allows them to do it."

简要概括一下美国的伟大之处：“在美国有3.09亿公民努力想要改变自己的命运，而我们的体系能够让他们做到这一点” 。

39. Speaking of systems, he harnesses the power of some of the most well-conceived ones around.

说到系统，他能够支配一些世界上周密完美的系统。

40. Trash-bin-diving caution No. 1: "It's far better
to buy a wonderful company at a fair price than a fair company at a wonderful price."

垃圾搜索注意事项一：“以一般的价格买一个好公司远好于以一个好价格买一个一般的公司” 。

41. Trash-bin-diving caution No. 2: "Time is the
friend of the wonderful company, the enemy of the mediocre."

垃圾搜索注意事项二：“时间是好公司的朋友，差公司的敌人。”

42. He's an eternal optimist in a sound-bite culture that often rewards pessimists.

虽然在这种尖刻的文化下受益的大多数是悲观主义者，但是他却能永远乐观下去。

43. His shareholder letters reveal an artisan-like
craftsmanship only seen when the proprietor cares deeply about his creation.

他给股东的信深具匠心，好像一个手艺人深深地爱着他的作品一般。

44. The contrarian credo: "We simply attempt to be
fearful when others are greedy and to be greedy only when others are fearful."

逆市的信条：“他人贪婪我恐惧，他人恐惧我贪婪” 。

45. He recognizes that genius fails: "When a
management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact."

他承认天才也会失败：“当一个以才华闻名的团队去管理一个以效益奇差而闻名的公司，只有那个公司的名声不会改变”

46. Like so many great thinkers, Buffett is able to ignore noise and whittle a decision down to its core variables. After he explains those variables, the decision sounds elementary.

像其他伟大的思想家一样，在做决定时，巴菲特能够忽略那些不相关的“噪音”，将注意力集中在几个关键的变量上。在分析这些关键变量之后，决定就呼之欲出了。

47. Why banking can be dangerous: "When you combine ignorance and leverage, you get some pretty interesting results."

“为什么银行业这么危险？”“当你把无知和杠杆放在一起，就会发生一些好玩的事情” 。

48. He allows me to see the name Buffett without thinking of Jimmy.

他让我看到巴菲特这个名字只会想到“沃伦”而不是“吉米”（指美国著名演员吉米 巴菲特）。

49. Buffett maintains a high thought-to-speech ratio.

巴菲特总是多思考，少说话。

50. Buffett's librarian fantasy: "If past history was
all there was to the game, the richest people would be librarians."

巴菲特的图书管理员的幻想：“如果历史只是一场游戏，那么最富有的人就应该是图书管理员了”

51. He converts a deadly sin into a virtue: "You do
things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an
idea next week, I'll do something. If not, I won't do a damn thing."

他把一种原罪（懒惰）变成了一种美德：“等机会来了再出手。我生命中有的时候好的想法源源不绝，有的时候一点想法也没有。如果我下一个星期有一个好想法，那我就开始行动，否则的话我就啥也不干。”

52. Averaging 20% returns for half a century results in beating the S&P 500 140-to-1!

通过保持平均20%的收益率长达半个世纪，巴菲特以140:1的战绩击败了标普500指数。

53. Even though he has fewer and fewer meaningful investing options because of the size of Berkshire Hathaway, he continues to wow us.

尽管随着伯克希尔哈撒韦的规模变化，有意义的投资选择越来越少了，但巴菲特仍时时令我们尖叫。

54. On a chili-dog-and-onion-ring-flavored note, Berkshire Hathaway owns Dairy Queen, my favorite fast-food chain.

在一张带有辣椒香肠和洋葱圈味的便签上，伯克希尔哈撒韦买下了DQ，那是我最喜欢的速食连锁店。

55. Many of Buffett's managers were wildly successful
entrepreneurs before selling out to Berkshire. Convincing successful,headstrong, boss-less superstars to subjugate themselves, and keeping those people motivated and happy, is quite a feat.

许多巴菲特的经理人在“卖身”给伯克希尔之前已经是非常成功的企业家了。说服这些成功的，有个性的，原来无人管理的超级明星乖乖听话并且让他们又开心又充满活力，可真是一件了不起的事情。

56. On a related note, Buffett doesn't micromanage -- good thing, with an empire this large.

在这么大一个帝国中，巴菲特从来不纠缠于细枝末节——这是极好的！

57. He gets doubted again and again and again and proves the doubters wrong most of the time. Yet you never hear him say, "I told you so."

他屡次遭到质疑，而他的质疑者总是被“打脸”。可是他从来不说“看，我早就说过了吧” 。

58. Well, maybe sometimes he gloats. Harvard Business School rejected him, which led him to study under his mentors Benjamin Graham and David Dodd at Columbia. His "How do you like me now?" statement: "Harvard did me a big favor by turning me down. But I haven't made any contributions to them in thanks for that."

好吧，也许有的时候他也挺自满自足的。当年，哈佛商学院拒绝了他，他才有机会师从哥伦比亚大学的本杰明·格雷厄姆和戴维·多德。他在题为“你觉得现在的我咋样”的讲话中说到“哈佛把我拒了真是帮了我的大忙了，但我还没有来得及好好‘报答’它呢”

59. He has become America's de facto investing teacher. And he has done so willingly.

他事实上已成为全美的投资导师，而且他也乐于如此。

60. Perhaps my favorite Buffett line: "We like things
that you don't have to carry out to three decimal places. If you have to carry them out to three decimal places, they're not good ideas."

我最喜欢的巴菲特语录可能就是：“我们喜欢那些不需要精确到小数点后三位的东西，如果一个东西需要如此精确，它肯定不是什么好主意”

61. Not that he can't be ruthless, but Buffett tends to look for win-win situations where possible. Contrast that with the Wall Street art of "ripping the face off" of clients.

虽然巴菲特有时候毫不留情，但是他总是尽可能地尝试双赢的模式。这和华尔街那种“把他们的脸都撕下来”的文化大相径庭。

62. He's often described as a "learning machine,"
extending his natural abilities and allowing him to make behemoth investing decisions over the span of just hours.

他常被称为“学习机器”，他充分发挥自己的能力并且能在几个小时内做出一些规模惊人的投资决定。

63. He added to Ben Graham's teachings with the help of that learning ability and Munger's counsel.

他的学习能力以及芒格的建议给本杰明·格雷厄姆的教导锦上添花。

64. Now is a good time to point out that companies' annual reports, which are available to all, are the primary fuel in his learning machine. He reads them voraciously to compare and contrast companies and build his business knowledge base. See the next point.

是时候告诉大家了，人人触手可及的年报正是巴菲特主要的学习材料。他贪婪地阅读年报，并把不同的公司进行对比，从而丰富他的知识储备。

65. When asked what the most important key to his success was, Buffett answered, "Focus." His biographer Alice Schroeder elaborates: He has "focus like you have never seen on anybody else." For good or ill, Buffett's entire life has been dedicated to investing. It's much harder than he lets on.

每次被问到成功的秘诀时，巴菲特总是回答：“专注”。他的传记作者爱丽丝·施罗德是这样描述他的：他有那种在别人身上根本看不到的专注。不论好坏，巴菲特的一生都奉献给了投资，这是装不出来的。

66. There are plenty of business fish in the sea:
"There are all kinds of businesses that I don't understand, but that doesn't cause me to stay up at night. It just means I go on to the next one, and that's what the individual investor should do."

生意就像海洋里的鱼一样多：“其实我不熟悉的生意多了去了，但是我不会因此熬夜。我只是一个一个地分析，这也是个人投资者应该做的事情。”

67. How many people can pull off being a contrarian by buying shares of Coca-Cola?

有多少人能够在当时逆市买入可口可乐公司股票并大赚一笔？（指巴菲特1988年投资可口可乐公司并大获全胜）

68. Even in an investing world full of Buffett students and imitators, he manages to surprise.

尽管投资界都是巴菲特的学生和效仿者，巴菲特却总是能让我们眼前一亮。

69. He takes every legal, ethical advantage available in the current system, but he lobbies for a better system. For example, he supports higher taxes for the rich, more severe estate taxes, and a level playing field. As he puts it, "I don't like anything where the bottom 20% keep getting a poorer and poorer deal."

尽管他合情合理地利用现行体制，但他却一直在为一个更好的体制努力着。比如说，他主张提高富人的税率，例如地产税，来争取一个穷人富人公平竞争的环境。用他的话说，”我可不喜欢最穷的那20%人民越来越失去谈判的筹码”

70. He is cognizant of and grateful for the advantages he has had in life -- like many of us, he won the "ovarian lottery."

他明白也感恩他生命的优势——像大多数人一样，他出生了。

71. When he talks, E. F. Hutton listens.

当他说话的时候，连爱德华·弗朗西斯·赫顿（美国著名金融家）都在倾听。（俗语：当爱德华·弗朗西斯·赫顿说话的时候，人们都在倾听）

72. Like many geniuses, he is frequently the confounding exception to the rule. For example, Berkshire Hathaway has never paid a dividend and only started share repurchases recently. It also doesn't split the chairman and CEO roles. And we shareholders thank him for it.

像其他的天才一样，他也经常离经叛道。比如说，伯克希尔哈撒韦从来不分红而且最近才开始股份回购，同时，它的董事会主席和CEO是一个人。但是我们这些股东还真得谢谢他这么“叛逆”。

73. Buffett buys what he knows (and frequently loves), but he doesn't overpay out of affection. He has the discipline to wait decades for the right opportunity.

巴菲特买那些他知道的东西（通常也是他喜欢的），但是他也不会仅仅因为喜欢就付更多的钱。他的理念是“君子投资十年不晚”。

74. He gives credit to his direct reports.

他完全相信他的下属。

75. Not only is Buffett a great investor and manager, but he's one hell of a writer. My jealousy grows.

巴菲特不仅是个伟大的投资人和经理人，他也是个了不起的作家，我真是羡慕嫉妒恨啊！

76. He once picked up a date in a hearse he co-owned.

他曾经在一辆他和别人共同拥有的灵车里找到一个约会伴侣。

77. Before making his money work for him, he worked for his money early on with a series of jobs, schemes, and ventures. These included a paper route, selling chewing gum door to door, a pinball business, a sales job at J.C. Penney's, caddying, marking up refurbished golf balls, and founding a horse-racing tip sheet.

他让金钱为他干活之前，他还是为金钱干活的。他做了许多工作、制定计划以及冒险。这些包括送报员，挨家挨户卖口香糖，经营弹球生意，在彭尼百货卖东西，当球童，翻新高尔夫球以及编写赛马小报。

78. He's a permabull -- on women.

他只对一种产品永远做多——女人。

79. It's very possible that the house you live in is worth more than the house Buffett lives in -- the house in Omaha he bought in 1958.

你住的房子很有可能比巴菲特住的还值钱！他住的房子可是1958年买的！

80. Over the years, he has relied on a similar set of
answers to oft-asked questions. That his philosophy has stayed stable throughout that time is remarkable.

多年以来，他总是用那一套同样的答案来应付大家的提问。因为，他那一套经过岁月考验的哲学是无与伦比的。

81. He's only tweeted nine times, but has over a million followers on Twitter!

他只上过9次推特，却被关注了100多万次。

82. His wealth has bought him the ultimate trophy: He does whatever he wants to do just about every single day.

他的财富给他带来了终极奖励：每天想干啥就干啥。

83. He's the outsized calming influence a lot of us need. From his biography Snowball: "If a tornado were barreling straight toward Kiewit Plaza [where his office is], Buffett would say that things were 'never
better' before mentioning the twister."

他有大多数人缺乏的那种冷静。如他的传记《雪球》中所描述的“当一场飓风向凯威特大厦（他的办公室）袭来，他会先说‘感觉好极了’，然后再说龙卷风的事情。”

84. Anyone who can make the hyperopinionated Charlie Munger regularly utter, "I have nothing to add" must be saying something impressive.

如果有人能让不可一世的查理·芒格经常说出“我没什么好补充的了”，那这个人的话一定字字珠玑。

85. When his time to step down finally comes, it will take a village (a CEO, a chairman, and multiple portfolio investors) to perform his current responsibilities.

当他离开这个世界的时候，估计需要一大堆人（一个CEO、一个主席以及一群组合投资者）才能继续他一个人的工作。

86. That said, he fully expects this list to one day reach well into the triple digits. And I look forward to adding those lines. Happy birthday, Mr. Buffett!

他非常希望有一天这张清单能到达三位数，我也非常希望能够继续记录他的言语。

生日快乐，巴菲特先生！

（以上内容英文文字整理：Anand Chokkavelu； 中文文字整理和翻译：继民财经汇：卓雨辰；中文转载请先申请授权）