沃伦·巴菲特：伯克希尔 2014 年致股东信·摘录1

During our tenure, we have consistently compared the yearly performance of the S&P 500 to the change in Berkshire’s per-share book value. We’ve done that because book value has been a crude, but useful, tracking device for the number that really counts: intrinsic business value.

出处： https://www.berkshirehathaway.com/letters/2014ltr.pdf
定位：2014 Chairman's Letter, excerpt 1 · 核对日期：2026-10-19 · 核验：短摘录

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