45 CES AB SE A WARREN BUFFETT WAY WORKBOOK Hl tk Tah HH he at China Machine PressWAY WORKBOOKPAS¢Ehe4d A (CIP) Bde AER Zid (#21) / (38) SHEE + OSHSHTEBH (Robert G. Hagstrom), (32) B+ # #% (Russell Rhoads) #; HAMI* . At: Hint Lileteett, 2017.2 4%: The Warren Buffett Way Workbook ISBN 978-7-111-56009-8 LB 1 OB @e-- Oi Ul ESSER (Buffett, Warren 1930—) — 489% — IV. F837.124.8 PEA PASte CIP BOERS (2017 ) $8025555 8 AAHRNBIGS: AF: 01-2016-8127 Robert G. Hagstrom, Russell Rhoads. The Warren Buffett Way Workbook. Copyright © 2013 by Robert G. Hagstrom, This translation published under license. Simplified Chinese translation copyright © 2017 by China Machine Press. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or any information storage and retrieval system, without permission, in writing, from the publisher. All rights reserved, ASSP SCMIRENREH John Wiley & Sons AAISELHURT Wl HA AREL TES ERASE LH EAE AT. RAMEE], ROLLER. Silat Tis AEBS, ANSE John Wiley & Sons AMBRE, TRE AMAES. HERES (5 >i) HERR ARTT: SUA ALTARS TEA 22 5S BiBeERGE: 100037 ) FER: ARLE, BER: BT ED hill: AECL LED ARRAS a] MEK: 2017 46.3 ASS 1 A 1 RED Feo: 1A7mmx210mm 1/32 le: 5.125 48 &: ISBN 978-7-111-56009-8 ft: 25.0075 FUMIE, WORE. ATR, ADT, ACRE ANP ACRE BiB: (010) 68995261 88361066 SHAR: (010) 88379007 se4SPAeR: (010) 68326294 88379649 GAg95259 ikem: hzjg@hzbook.com TESTA + UIE STF M IN «= ASANTE: AERA AT IE / SARA> | The Warren Buffett Wa ‘Way Workbook REEMA TAREE, EMAM+ED, K fe > FARRAR SIE, HN Ai AT A PAF ABE (thE 1B oe 75 AR — DS HAS AT A A AR SEH BET ah. « SE Zi (GAAS 3) Mik, AR SARA HT BSE FEPRA IR TTIA. oh, ART EOLA ELHARDRAN, HRANASRANRRRE. BHAA LMA, UREA SAR Ke > SEF MRAM EN HERBS, BAMBARA AMZ, (EMU T REMMI ER. RAAT EK ATCA HEA BEERS BETTI, MKS MEAL Bille RAS MRE RAT, CARRERA ho. WM ELSE ARAL PA CARRE TH, RE NRA, BH RE” AORIYE. JAS SE FAS A5 5 ae Ha HT — A SEE — MR REGURANLA, TRKRRANAH, URRRAAY aR FEF ttWME (BIER ZR (GSS 3), AHAB, ee DARTS: B— MS HS TEA Al A; AY ST SRA TERE. FEAT REAM ee Ee (CE (HBS 3h) SHA, HAKATA LAFA-TARY fi TLA. He SHIM AK, RRB, MoieaAS ALABADRES ( BIR ZIE (TSS 3 he) WERKEA.BY Tih 1 82 3 HE 4 He BS He of 6 Re O87 Re oh 8 The Warren Buffett Aa Way Workbook FPG RSESSEGE: ATER VER TRG + CARRE =n Wa SK deb 12 EE HEIN = 29 PETAL YE TRB = 54 TELA EL: BEEBE = 85 ELVEDEE «109 LOA OMEL = 124 HUE KARLIEA = 138as tz. | The Warren Buffett 1 ‘Way Workbook EDGE: HAM ESE Le LF i SPARSE AGAR — MAHA ZS a NY RAT EHR? (1) BER EAA NIL. (2) BEBE As it ll 9 Ae Be (3) EVE AP REM IHEL. A.(1) B.(1) Al (2) Fqoaac 2. FEAR EA BR A LS EFT A EBT, NRL] 4S i HL? C1) He BEAD FE BE EAE TEAS i IS ? C2) Zora Ey He fae HE A fg 2 (3) Zora PPSBUE; A LAE eB fy? (4) PERU RTP AR iS SE a fo? A.(1) # (2) B.(2) # (3)C.(1)(2) Ml (4) Ph oma ac 3. DAF BSR FS ELA A LEE? 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A. 7M EESE TE A BLOT Am L.ED EIN, BCG EA12 EVEL, EMER VE B. BLUE AIA ZS wal SA A SEH BSE I, HG A HE MTN AY Kiet Cx A SEE — FBS, BEE Ae IM YEE BU et APE AY SHIR D. SERRA BTA HH SUEY Ls, AE SHRP AR 4. AEA EAA EM, LA RRR VENTE M7 A, TRE F S ARAN HR BE B. (HES F ah ies AA Se — A C. EVES TAAL EAA FH ls D. BEVERARLIRA SPT, A RAR Ge EE A 1TH 5. HE AEM BE, BEVEL Me PR? A. S8i. FEM, HUE B. HRB. HH, vere C. RE, Shit. BeHE D. 4, FW, SE 6. FEA SG SEBEL BEA EEE RAB TE PAE AE HP? A. 1929 4F ARR A BE B. (1933 4FUEFRIK > Al (1934 4EUEAEE DIL ) C. 1929 ~ 193246, fl ETTIB AAD D. Li iE 7. FES SERS AT Za, Fay be HR EH TR? A. SIE TTR RAR BE HP He CE Mb B. Av AS GH BAR BE ATI13 C. BUR PEL MI D. BEE PEE NRE ASE AR SY TTT 8. HER EMAIL, FRR AE A SCT 1929 EAT ABE? C1) 2655 FRANZ PRAM (2) FARBER BE. (3) READ WUE A.(1) B.(2) c.(1)(2) D.(1)(2) A (3) 9 UE WB 4 A i As JL ke 19 A BE 7 SASS A SS BE BALI? AL BEAT MAR BES B. RAUL C. BM EE D. ffi BE BEI 10. LAR IB At 4 A A Es VLE BE EY BBL BE Dy AS AL A ICR I BYE? A. PRAT MAR VEE B. REPRE C. FAME BEE D. Hi (BE PERE V1, GeGVBR > a HAASE WA SI MSE Ty ez A Ds RY 2 C1) ECE HIRAEANY , SKUEHESS (2) FIA MAT, TREBLE PEP TE BML NESE (3) SHEAR HE Ay ott Sy BK SA ZS a CE A.(1) B.(2) C.(3) D.(1)(2) 12. FTE BI STP BA FB THESE?14 13. 14, 16. AL VSI SE FE AL at A cb FR SIS EG ZS B. EEE A aL Ha SKA Teg ES C. FOAM a, SKA AIRE ALE MELA ZS D. ERE TA RW ie FR JEWS He Ze Bo UU PY Gs HP BB ae? C1) Mesa Re (2) Bi (3) DRFEHE A.(1)(3) B.(1) €.(2)(3) D.(1)(2) Al (3) HATRED Ha AF ZED ZS PPL oe BE TALK 2 A. APRS BARR B. ACK HY AIRE II C. AUER D. ERS =F HG AB HPS ad PE OLY BET TE OH? C1) ERT ie BF ai a aE (2) CHARS AL. (3) EFI P25 wm EL A.(1) B.(2) c.(3) D.(1)(3) Ae ELAS TT SP A AE ZS) ASC OPAL Se A IT MAR? (1) UA NABI. (2) Zora. (3) AAAS HERE20. 15 A.(1) B.(2) c.(3) D.(1)(3) «HP FF BCT A Zs ETNA AT, EET PAT ARLE TS — Bp SEM Dr ah? (1) KRRZ AMEE (2) ATT 38 NY HEE (3) ARP EGE? 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A.(1)(2) B.(2)(3) C.(1)(2)(3) D.(1) AA SEAGATE 1972 EMITTER A (iT BACHE MP AL ROSEAA GE A5 ARV ISEAE e AZS a] B. BCAA SE AAR USE FES C. BASE A AURAL Da. i AEAA BEA AR VA A BY TE ES MF CRAM). ABA. ATR = MEER, A fr SETAE RA? AL EATER ASPET FEEL A 19 ELS B. EATEN Ge Fs AS HOHE EAA A Ph ELAR C. EAT ARE BEATA T MSZ wi] D. XP PATHS BERRA FZ SE Te] Zh ELSE Sf EMS AA AREA 2 A. ELSEHE EBERT: F es B. HE IE ABA LES a) ALY FE HE C. ELAR BE GLE — BRAS al 6G SEA SARL D. SJOFABKALI 1969 4, ELSERRPT UE: “FRUITS 15% KA RH, 85% KA Ht FEM.” AMAL ERE, SEMIS I? A. 25% KARE, 75% KARR IEU B. 50% KARE, 50% KARE C. 75% KAR, 25% HK A EM18 D.100% EAB, PUR HI EN EE a jaye LBP GIES PT) AH NE 2. 1929 SE BAC HATE RTA Fe JEWS (mY Hi? 3. CEFR) 1 RARE A? 4. MARIE MMT aE ELE" 7 5. HUB EAU BER, PASE “TRASH”, EME BETA? 6. HEAD BEL AG LEON TARE? 7. Ae Fi JE AS A fay AE TAT DS SEA 2 8. HR FRAMES. 9, EIB THT AC AMIR LEZ RE A IBS AE A EB BL? 10. ARHR A FJ MO WL, SLE AAT Be A Ba 9 AG Ha Ub? 11. FEBR= BL. EN aT Dis A I? 12. BRIE MEA Hy IB EE YL HIE DS) PR AEA EBT EA TH BB? 13. PF REEL EP TE, AAD nS? 14. HREM MNT RE “ANE HL” HEL? 15. AVR + (AAR + BUMMER “OED” Zest RITA? 16, AS A EMS BEAT TERY FBT PS MELEE 2 17. ARE BET YL, MUTT , PORDAS ZS va aT LA AI A MK? 18. RGD PBA AT AZ I MS? 19. FEBVE-RARI ZA, WRASSE TR IMT AAR? 20. MFT “PAN” OATS, RRA ATI?al. 22. 23. 24. 25. 26. 27. 19 ELAR STE Rs UBL TAT fi AAS le]? REPRE BELO BL VE, AY AE ELE ATE Hs ERE RU a fT AF? EEL AFAR AU) TAG FTL A SLA OT A LHD FT BE AS A? JRAEAEREAS FE, AAT RCPS II MA TAO SSA BB BEAK BE? KF RRS, ESE ED EB TA? HEME RELL KK BEB? ARTE AL, ELSES bMS A JE MA BB 4 Area?20 Se R EL 1B. HECMSHAL+ $1448 T (ikFPAT), 1949 FEET (BAOHREF). 2.C. # (1933 FikKH) fo (1934 FiEFRZA) LEW, LPRAEERERKAD HH, FALPAAMAH CREB BRR EA, PRAT RAE 3. A, (ERD) —BHARRMA, —PELAS HE eR a Zh, MMH, SLKHFMRRHAS, TAR BEEBE 4.D. HE CHAFREHLLL: RHRAUDM, TAREA BRE GE ORT A, ELBA TARE HEL KABHH, CRREGKRASBHMLEIREES, 5.Bo BE CHEE, AT CAM RM AE HH, MPT REO ER, ARGH, MU -PHPMPAUTSES: Dw, QatH], OAH. 6. Co 1929 ~ 1932 Fit se APAEAAA 97.70 AKA 65.78, AMA KERDA RRA ORE. 7. Bo GERDA) BIRT, TLR IRA AME EB AR HE OD AED, MERSATSMHER, HECTARE KINA HS, RAR AAR AR AT ALE 8.D. HE CMAA 1929 FM ARTAFEARA: ORD Pi Fo ARAMA, BALAK AR Fo Rk pho TE FARR DEEOKE, DRE, HARM AT RAL, Pea ae Hi GRAS T RMT, OLEAD RANA T AMY RM9. Ac REEMA TATA AAS TOR MBHAER TE. 10. 16. Co MLK BU —H TAD A BG OM A ih 0 A ie Fe RAIA K, AMR AEP, AFR THEM TR GH 6 AK 1) Do HE EMER A KREWE” RM PIAMB, RAPA PPFD ARR KS HEH ho RAGE A B, TAR RAE AL: DRAKA YR RARE CGE, RAPALA WH, RAM PRIA); QE BKYHA KF ARAL HELE, WK AR HE AR SEN A MLD BR Ho ALM L, LSURMBAFELP. Co BG CMA A MAA RIES ET KARE A PML REL. 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