来源：2025年巴菲特股东大会
标签：#人生建议
导读：“你会朝着与你交往的人的方向前进。”这是巴菲特送给年轻投资者的第一句忠告。他讲投资，却总是从人生讲起。他相信：人生是复利的，不只靠金钱积累，更靠人品、人脉与志趣相投的同行者。
Question: As a young person interested in investing like myself, I would love to hear your insights, Mr. Buffett. What were some pivotal lessons you learned early in your career? And what advice do you have for young investors who are looking to develop their investment philosophy? Thank you.
提问：作为一位对投资充满兴趣的年轻人，我很想听听您的见解。巴菲特先生，您在职业生涯早期学到了哪些关键的经验教训？又会给我们这些正在建立投资理念的年轻人什么建议？谢谢您！
Warren Buffett: Those are good questions. Who you associate with is just enormously important. Don’t expect that you’ll make every decision right on that, but you are going to have your life progress in the general direction of the people that you work with, that you admire, that become your friends.
沃伦·巴菲特：问题问得非常好。你选择与谁同行，对人生走向有着极其深远的影响。你不可能每次都选对人，但你的人生轨迹，终将随着你共事的人、你敬佩的人、以及你结交的朋友而发展变化。
I mentioned a few fellows that have died in the last couple years. All of those people were people that, if we were working together on something one-ten-thousandth the size of Berkshire, they’d be the kind of people you’d choose. They’re people that make you want to be better than you are. You want to hang out with people that are better than you are and that you feel are better than you are because you’re going to go in the direction of the people you associate with.
我曾提到一些过去几年去世的老朋友。就算我们当年做的项目只是伯克希尔的万分之一，我也依然会选择他们作为合作伙伴。因为他们是那种能让你想要变得更好的人。你应该主动靠近那些比你更优秀的人，因为你终将走向与他们相似的方向。
That’s something you learn later in life – it’s hard to really appreciate how important some of those factors are until you get much older. But when you’ve got people around you like Tom Murphy and Sandy Gottesman and Walter Scott, you’re just going to live a better life than if you just go out and look at somebody that’s making a lot of money and decide you’re going to try and copy them.
这个道理，往往要到人生后期才会真正理解。你年轻时，可能更容易被财富与表象吸引；但当你身边有像汤姆·墨菲、桑迪·戈特斯曼、沃尔特·斯科特这样的人，你就会明白，真正值得追随的，是那些品格优秀、智慧深沉的人，而不是光鲜亮丽的赚钱机器。
I would try to be associated with smart people too where I could learn a lot from them, and I would try to look for something that I would do if I didn’t need the money. What you’re really looking for in life is something where you’ve got a job that you’d hold if you didn’t need the money, and I’ve had that for a very long time.
我一直努力让自己靠近那些聪明、正直的人，从他们身上不断学习。同时，我也会寻找那种即使没有收入，也愿意坚持一生去做的事情。这就是我所理解的理想职业。我很幸运，从年轻时就找到了它。
All the fellows I named had it, and they also always did more than their share and never sought more than their share of the credit. They behaved the way you’d like anybody you work with to behave. When you find them, you treasure them, and when you don’t find them, you still keep doing whatever enables you to eat. But you don’t give up on looking around, and you will find people who do wonderful things for you.
我刚才提到的这些人，也都拥有这样的事业。他们从不斤斤计较，从不争功诿过，总是默默多做一点。他们的行为，正是你最希望身边同事拥有的样子。当你遇到这样的人，请一定珍惜；即使一时没有遇见，也请不要放弃寻找，总有一天，你会遇到那个让你成为更好自己的引路人。
I mentioned earlier going down to GEICO and knocking on the door when the door was locked. Who knows what was behind that door? But in 10 minutes, I found that I had a man that was going to be just wonderfully helpful to me. And of course, if somebody’s going to be helpful to you, you want to try to figure out ways to be helpful to them. So you get a compounding of good intentions and good behavior. Unfortunately, you can get the reverse of that in life, too.
我曾提到过，那年我去 GEICO 公司，门锁着，我还是敲门进去了。没人知道门后有什么，但十分钟后，我遇见了一个后来对我意义非凡的人。有些人，一旦遇见，就注定改变你的人生。而你也会因为他的善意，努力成为别人的贵人。这就是“善意的复利”。当然，人生也有反例，但我们不能因此丢掉信念。
I was lucky in having a good environment for living that kind of life, and other people have a whole different environmental situation they have to overcome. But don’t feel guilty about your good luck if you’ve got it. If you live in the United States, with 8 billion people in the world and 330 million in the United States, you’ve already won the game to a great degree. Just keep making the most of it.
我很幸运，生在一个让我有条件追求理想生活的环境。当然，也有很多人起点不如我，需要面对更多挑战。但如果你很幸运，请不要感到内疚。这个世界有 80 亿人，美国只有 3.3 亿人，如果你出生在这里，就已经站在了人类的前 3% 位置。关键是，如何用好这份幸运。
You don’t want to associate with people or enterprises that ask you to do something that you shouldn’t be doing. Different professions select for different types of people. It’s interesting to me that in the investment business, so many people get out of it after they’ve made a pile of money. You really want something that you’ll stick around for whether you need the money or not.
千万不要与那些让你违背原则、做不该做的事的人或企业为伍。每个行业吸引的气质不同，有意思的是，在投资行业，很多人一旦赚够了钱就选择离场。但真正值得投入的事业，是那种即使你不差钱，也仍愿意一辈子留在其中的地方。
Greg doesn’t need the money, Ajit doesn’t need the money – not remotely – but they enjoy what they do and they’re so damn good at it. I’ve had the advantage of seeing how that works over time.
像格雷格、阿吉特，他们的财富早就“够用几辈子”了。但他们依旧每天充满热情地工作，并且做得非常出色。我亲眼见证了热爱+专业+长期主义所带来的复利奇迹。
The best manager I ever knew – and there’s a lot of contention for who that would be – but actually was Tom Murphy Sr., who lived to almost 98. I’ve never seen anybody who could get the potential out of other people more than Murph. If you wanted to become a better person, you’d want to work for Tom Murphy. There are all kinds of successful people that don’t bring that to the party. I’m not saying that’s the only way to succeed, but I think it’s the most pleasant way to succeed for sure.
我这辈子遇到过最会带人的管理者，是汤姆·墨菲。他活了将近 98 岁，是我见过最能激发团队潜能的人。如果你想变得更好，那就去为像汤姆这样的人工作。很多成功人士并不具备这种影响力。不是说那样就不能成功，但能与这样的人共事，绝对是最令人愉快的成功路径。
The Berkshire experience is pretty dramatic – to operate with Sandy Gottesman from 1963 until he died a couple years ago, Walter Scott for 30 years – you really can’t miss it. You’ll learn all the time, but you’ll not only learn how to be successful at business, you’ll learn how to be successful at life.
在伯克希尔的这些年，是我最重要的人生体验。从 1963 年起，我和桑迪·戈特斯曼一路合作到他离世；与沃尔特·斯科特并肩作战了整整 30 年。这样的关系教会我，不只是如何在商业上成功，更重要的是，如何成为一个更好的人，过上一种你真正认可的人生。
So that’s my recommendation. And for some reason, apparently you live longer too. It’s pretty amazing – these people I’m talking about, including myself. I think a happy person lives longer than somebody that’s doing things they don’t really admire that much in life.
这就是我对你的建议。再补一句——看起来，走这条路似乎还能让人长寿（笑）。我说的这些人，包括我自己，好像都印证了这一点。我相信，一个真正热爱自己所做之事的人，真的会活得更长，也更值得。