巴菲特的投资年复利收益率(巴菲特的年复利率赢得业界瞩目)?

Berkshire Hathaway, managed by Warren Buffett, has maintained an annualized return rate of over 20% since starting its investment business in 1965. This is undoubtedly an outstanding achievement among global investors in the past 40 years. Interestingly, my admiration for Buffett began with a misunderstanding of the concept of annualized return rate. I used to think, how can he be so strong, and make over 20% of returns every year to become so wealthy?

Later, I found an astonishing fact in the biography of Buffett called "Snow Ball". It was stated that "since entering Columbia University with $9,804, his annual compounded rate of return was over 61%". According to records, Buffett's capital in 1950 was $9,804 and by 1956, it had increased to $174,000. This was the first bucket of gold that Buffett obtained through investment when he was young.

In a public speech, Buffett said, "Having a small amount of money is a natural advantage. If I have only $1 million, I could definitely earn almost 50% a year, I guarantee it!"

As you can see, when Buffett had a small amount of funds, he also relied on high investment returns to quickly roll his funds. The $174,000 was just the initial capital for him to make investments. It was not like what I previously imagined that he steadily made a 20% return every year from the beginning until he reached the peak of his life. The misunderstanding was due to the fact that in reviewing Buffett's investment career, I mistakenly believed that his average investment return was his winning formula, and then foolishly assumed that I would become Buffett as long as I made an average of 20% investment returns every year.

Knowing this truth is crucial for many ordinary investors like us. We can do the math. If you have a capital of 100,000 yuan, and you earn 20% investment return this year, next year, and the year after (which is already a good return), then you will only earn 72,800 yuan in three years. Although this is not a bad return, it is not enough to make you a member of the financially free club, or even make significant improvements to your life. Therefore, when your investment capital base is very small, earning 10-20% yearly returns is not enough to lift you off the ground.

In conclusion, good luck in your future investments!