历经多轮股灾，2017年以来，A股市场也不知发了什么疯，齐刷刷言必称“价值投资”

价值投资为何物？

不是很清楚，但是，可以肯定的是“蔚然成风”肯定不是价值投资。

"I can only tell you that the secret has been out for 50 years," Buffett writes, "...yet I have seen no trend toward value investing in the 35 years I've practiced it. There seems to be some perverse human characteristic that likes to make easy things difficult. The academic world, if anything, has actually backed away from the teaching of value investing over the last 30 years. It's likely to stay that way. Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace, and those who read their Graham & Dodd will continue to prosper."

如今的所谓“价值投资”无非又是一种所谓主题和热点的变体而已，希望这些瞎搞的人别把老百姓害太惨。

附上巴菲特1984年的经典文章，重温价值投资的真正智慧。