バフェット氏のAnnual Letterがニュースで報じられました。いくつかの投資関係のブログでも取り上げられています。
私が少しネットを見て回った限りではどうやらFortuneが一番詳しく報じているように見えました。いろいろありますが、インデックス投資家として特に2つの章が気になりました。
Buffett's annual letter: What you can learn from my real estate investments
I have good news for these nonprofessionals: The typical investor doesn't need this skill. In aggregate, American business has done wonderfully over time and will continue to do so (though, most assuredly, in unpredictable fits and starts). In the 20th century, the Dow Jones industrial index advanced from 66 to 11,497, paying a rising stream of dividends to boot. The 21st century will witness further gains, almost certain to be substantial. The goal of the nonprofessional should not be to pick winners -- neither he nor his "helpers" can do that -- but should rather be to own a cross section of businesses that in aggregate are bound to do well. A low-cost S&P 500 index fund will achieve this goal.
