沃伦·巴菲特：伯克希尔 2004 年致股东信·摘录3

However the yearly comparisons work out, Berkshire’s long-term performance versus the S&P remains all-important. Our shareholders can buy the S&P through an index fund at very low cost. Unless we achieve gains in per-share intrinsic value in the future that outdo the S&P, Charlie and I will be adding nothing to what you can accomplish on your own.

出处： https://www.berkshirehathaway.com/letters/2004ltr.pdf
定位：2004 Chairman's Letter, excerpt 3 · 核对日期：2026-10-19 · 核验：短摘录

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