{"id":11771,"date":"2020-01-03T23:01:18","date_gmt":"2020-01-03T15:01:18","guid":{"rendered":"https:\/\/blog.moneydj.com\/joe\/?p=11771"},"modified":"2020-01-04T10:46:07","modified_gmt":"2020-01-04T02:46:07","slug":"20200102sp-500-pe-ratio","status":"publish","type":"post","link":"https:\/\/blog.moneydj.com\/joe\/2020\/01\/03\/20200102sp-500-pe-ratio\/","title":{"rendered":"20200102S&amp;P 500 PE Ratio"},"content":{"rendered":"\n<p>\u7f8e\u80a1\u6700\u8fd1\u771f\u7684\u5f88\u71b1\uff0c\u4e0d\u904e\u9019\u500b\u50f9\u683c\uff0c\u7f8e\u80a1\u7b97\u662f\u504f\u8cb4\u4e86\uff0c\u672c\u76ca\u6bd4\u4f86\u5230\u76f8\u5c0d\u9ad8\u9ede\uff0c\u6211\u8a8d\u70ba\u624b\u4e0a\u4fdd\u6301\u591a\u4e00\u9ede\u73fe\u91d1\u662f\u597d\u4e8b\uff0c\u6211\u81ea\u5df1\u7dad\u63013\/4\u4ee5\u4e0a\u7684\u73fe\u91d1\u90e8\u4f4d\uff0c\u6709\u8cfa\u5c31\u7e7c\u7e8c\u8cfa\uff0c\u6ce8\u5b9a\u8cfa\u4e0d\u5230\u7684\u884c\u60c5\uff0c\u5c31\u8010\u5fc3\u770b\u6232<\/p>\n<p><a href=\"https:\/\/blog.moneydj.com\/joe\/wp-content\/uploads\/sites\/2\/2020\/01\/20191231SP-500-Forward-PE-Ratio.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-11773\" src=\"https:\/\/blog.moneydj.com\/joe\/wp-content\/uploads\/sites\/2\/2020\/01\/20191231SP-500-Forward-PE-Ratio.png\" alt=\"\" width=\"871\" height=\"525\" \/><\/a><\/p>\n<p>\u6211\u63d0\u4f9b\u4e00\u4e0b\u95dc\u65bcWarren Buffett\u6700\u8fd1\u7684\u65b0\u805e\uff0c\u7d66\u5927\u5bb6\u53c3\u8003<\/p>\n<p>Buffett\u57f7\u638c\u7684Berkshire Hathaway\u516c\u53f811\u6708\u6642\u5df2\u5275\u4e0b\u6301\u67091280\u5104\u7f8e\u5143\u73fe\u91d1\u7684\u7d00\u9304\uff0c\u904e\u53bb\u5e7e\u500b\u6708\u8a72\u516c\u53f8\u4e5f\u653e\u68c4\u4e86\u5927\u5927\u5c0f\u5c0f\u4e0d\u540c\u7684\u6536\u8cfc\u6a5f\u6703\uff0c11 \u6708Buffett\u5728\u7af6\u8cfcTech Data\u6642\uff0c\u4e5f\u56e0\u5c0d\u624b\u5831\u50f9\u7565\u9ad8\u800c\u9000\u51fa\u7af6\u8cfc\uff0c\u80a1\u795eWarren Buffett\u5728\u4e00\u6a01\u7af6\u6a19\u4e0a\u6536\u624b\uff0c\u4e0d\u9858\u518d\u52a0\u78bc\u4e00\u9ede\uff0c\u8b93\u5c0d\u624b\u4ee5\u4e9b\u5fae\u5dee\u8ddd\u8cb7\u8d70\u6a19\u7684\uff0cBuffett\u5b9a\u529b\u5341\u8db3\uff0c\u5c31\u7b97\u6eff\u624b\u73fe\u91d1\uff0c\u81ea\u5df1\u7684\u9577\u671f\u50f9\u503c\u6295\u8cc7\u539f\u5247\u4e5f\u4e0d\u6703\u6709\u6240\u9000\u8b93\u548c\u59a5\u5354\uff0c\u9019\u662f\u5426\u900f\u9732\u51fa\u80a1\u5e02\u6574\u9ad4\u4f30\u503c\u904e\u9ad8\u7684\u8a0a\u606f\uff1f<\/p>\n<p>Buffett\u4e0a\u9031\u4ee5\u6bcf\u80a1140\u7f8e\u5143\u6216\u7565\u591a\u65bc50\u5104\u7f8e\u5143\u7684\u50f9\u683c\u7af6\u6a19Tech Data\u516c\u53f8\uff0c\u4f46\u6700\u5f8c\u537b\u88ab\u79c1\u52df\u80a1\u6b0a\u5de8\u982d\u963f\u6ce2\u7f85\u5168\u7403\u7ba1\u7406\u516c\u53f8Apollo Global Management\u4ee5\u6bcf\u80a1145\u7f8e\u5143\u621651.4\u5104\u7f8e\u5143\u7684\u50f9\u683c\u6436\u6a19\u6210\u529f\uff0c\u4eca\u5e74\u7f8e\u80a1\u9023\u756a\u5275\u65b0\u9ad8\uff0c\u5ee3\u6cdb\u5e02\u5834\u672c\u76ca\u6bd4\u4e0a\u5347\uff0c\u4e5f\u63a8\u9ad8\u4e86\u591a\u6578\u80a1\u50f9\uff0c\u4f7f\u73fe\u5728\u5e02\u5834\u4e0a\u5e7e\u4e4e\u6c92\u6709\u4fbf\u5b9c\u7684\u6a19\u7684\u3002<\/p>\n<p>Buffett\u5728\u6700\u8fd1\u7684\u5e74\u5ea6\u4fe1\u51fd\u4e2d\u8868\u793a\uff0c\u300c\u90a3\u4e9b\u9577\u671f\u524d\u666f\u826f\u597d\u7684\u4f01\u696d\uff0c\u5176\u50f9\u683c\u90fd\u662f\u5929\u50f9\uff0c\u76f4\u63a5\u6536\u8cfc\u516c\u53f8\u7684\u6ea2\u50f9\u7a0b\u5ea6\u5df2\u7d93\u9ad8\u5230\u4ed6\u4e0d\u559c\u6b61\u4e86\uff0c\u90e8\u5206\u539f\u56e0\u5c31\u662f\u79c1\u52df\u80a1\u6b0a\u516c\u53f8\u7684\u7af6\u50f9\u3002\u300d<\/p>\n<p>\u76ee\u524dS&amp;P500\u7684\u9810\u4f30\u672c\u76ca\u6bd4\u5df2\u7d93\u6500\u5347\u81f32018\u5e7412\u6708\u5927\u8dcc\u4ee5\u4f86\u672a\u898b\u7684\u6c34\u6e96\uff0cS&amp;P500\u672a\u4f8612\u500b\u6708\u80a1\u50f9\u6de8\u503c\u6bd4\u7d042.14\uff0c\u4e0a\u4e00\u56de\u672c\u76ca\u6bd4\u9019\u9ebc\u9ad8\u662f\u57282018\u5e749\u6708\u5927\u62cb\u552e\u958b\u59cb\u4e4b\u524d\uff0c\u4ee5\u53ca2000\u5e74\u7b2c\u4e00\u5b63\uff0c\u96a8\u5f8c\u79d1\u6280\u6ce1\u6cab\u5316\u63a5\u8e35\u800c\u4f86\uff0c\u79d1\u6280\u696d\u5c24\u5176\u5e38\u898b\u4f30\u503c\u504f\u9ad8\u7684\u4f01\u696d\uff0c\u56e0\u70ba\u8a72\u7522\u696d\u7684\u672c\u76ca\u6bd4\u5df2\u7d93\u56de\u5f48\u904e\u53bb10\u5e74\u4f86\u6700\u9ad8\u6c34\u6e96\uff0c\u90a3\u9ebc\uff0c\u9019\u5834\u4ea4\u6613\u5e36\u51fa\u4e00\u9ede\uff1a\u5982\u679c\u80a1\u795e\u90fd\u7e2e\u624b\u7684\u50f9\u683c\uff0c\u6295\u8cc7\u5927\u773e\u5462\uff1f<\/p>\n<p>2019\u5e74\u5962\u4f88\u73e0\u5bf6\u5546Tiffany\u5c0b\u627e\u8cb7\u5bb6\u6642\u627e\u4e0aBuffett\uff0c\u540c\u6a23\u4e5f\u5403\u4e86\u9589\u9580\u7fb9\uff0c\u9ad8\u6602\u7684\u5e02\u5834\u4f30\u503c\u53ef\u80fd\u8b93Buffett\u8207\u5176\u5408\u5925\u4ebaCharlie Munger\u7e2e\u624b\uff0c\u56e0\u70ba\u4ed6\u5011\u9577\u671f\u4ee5\u4f86\u504f\u597d\u5177\u6709\u9577\u671f\u524d\u666f\u7684\u4fbf\u5b9c\u516c\u53f8\uff0cBuffett\u4e00\u518d\u8868\u793a\uff0c\u76f4\u63a5\u6536\u8cfc\u4ed6\u559c\u6b61\u7684\u516c\u53f8\uff0c\u5176\u6ea2\u50f9\u5df2\u7d93\u592a\u591a\u4e86\uff0c\u90e8\u5206\u539f\u56e0\u662f\u79c1\u52df\u80a1\u6b0a\u516c\u53f8\u548c\u5176\u4ed6\u53c3\u8207\u8005\u7684\u7af6\u722d\u5c07\u50f9\u683c\u54c4\u62ac\u4e0a\u53bb\u3002<\/p>\n<p>2019\u5e74\u80a1\u5e02\u5927\u6f32\u4e5f\u63a8\u5347\u5ee3\u6cdb\u7522\u696d\u672c\u76ca\u6bd4\u548c\u591a\u6578\u80a1\u50f9\uff0cBerkshire\u6700\u65b0\u4e00\u4efd\u76e3\u7ba1\u55ae\u4f4d\u6587\u4ef6\u62ab\u9732\uff0c2019\u5e74\u7b2c\u4e09\u5b63Berkshire\u50c5\u589e\u52a0\u4e00\u6a94\u65b0\u80a1\u7968RH\uff0c\u524d\u8eab\u70baRestoration Hardware\uff0c\u6839\u64daCNBC\u9928\u85cf\u7684Buffett\u6a94\u6848\uff0cBuffett\u8868\u793a\uff0c\u300c\u78ba\u5be6\u5076\u723e\u5c31\u6703\u6709\u4eba\u806f\u7e6b\u6211\u5011\uff0c\u6216\u8005\u8aaa\uff0c\u6709\u4eba\u63d0\u51fa\u6536\u8cfc\u8981\u7d04\u7684\u6642\u5019\uff0c\u5076\u723e\u5c31\u6703\u6709\u4eba\u806f\u7d61\u6211\u5011\u3002\u4ed6\u5011\u6703\u8aaa\uff0c\u300e\u4f60\u6703\u60f3\u8981\u52a0\u78bc\u9084\u662f\u600e\u6a23\u55ce\u300f\uff0c\u901a\u5e38\u6211\u5011\u7684\u7b54\u6848\u90fd\u662f\u300e\u4e0d\u300f\u3002\u300d<\/p>\n<p>Munger\u8868\u793a\uff0c\u300c\u55ef\uff0c\u6211\u5011\u771f\u7684\u5f88\u6703\u8aaa\u4e0d\u3002\u300d<br \/>Buffett\u88dc\u5145\uff0c\u300cCharlie (Munger) \u751a\u81f3\u6bd4\u6211\u9084\u6703\u62d2\u7d55\u3002\u300d<\/p>\n<p>https:\/\/news.cnyes.com\/news\/id\/4417918?exp=a<br \/>https:\/\/news.cnyes.com\/news\/id\/4429350?exp=b&amp;fbclid=IwAR0RsZxi781LwQvow6tkEfB6t0fqkY_FJ9Nfq3RyMgwI3KTzFp3lMZ2KbPM&amp;utm_medium=news&amp;utm_source=fbfan<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>\u7f8e\u80a1\u6700\u8fd1\u771f\u7684\u5f88\u71b1\uff0c\u4e0d\u904e\u9019\u500b\u50f9\u683c\uff0c\u7f8e\u80a1\u7b97\u662f\u504f\u8cb4\u4e86\uff0c\u672c <a class=\"mh-excerpt-more\" href=\"https:\/\/blog.moneydj.com\/joe\/2020\/01\/03\/20200102sp-500-pe-ratio\/\" title=\"20200102S&amp;P 500 PE Ratio\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-11771","post","type-post","status-publish","format-standard","hentry","category-investment-opinion"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4VJae-33R","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/posts\/11771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/comments?post=11771"}],"version-history":[{"count":3,"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/posts\/11771\/revisions"}],"predecessor-version":[{"id":11777,"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/posts\/11771\/revisions\/11777"}],"wp:attachment":[{"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/media?parent=11771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/categories?post=11771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.moneydj.com\/joe\/wp-json\/wp\/v2\/tags?post=11771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}