Special topic: Buffett shareholders' meeting 2024 Sino-American investor reception

On the afternoon of May 4, local time, the 9th Buffett shareholders' meeting hosted by Sina Finance was held at the Marriott Hotel in downtown Omaha. The reception was the largest and most influential investor exchange event during Buffett's shareholders' meeting. Investment elites, leaders of Chinese public and private equity funds and securities firms, and executives of listed companies attended the meeting, which opened a high-quality dialogue.

James Early, chief investment officer of BBAE, an American Internet brokerage, attended the meeting and delivered a speech. He said that for value investment, it depends more on the power of compound interest.

The following is a transcript of the speeches made by Early:

Introduce some more important figures. One number is 94%, and basically 94% of the market fund managers have lost to the S & P 500 in a particular 20-year period. The next two numbers are 10% and 4%. 10% is the average annual return of the S & P 500 over the past 20 years, and 4% is the average annual return of American mutual fund managers over the past 20 years. People want to make money, but they are also picking their stocks, and they are also operating their stocks, but in the end they can't beat a passive market.

Therefore, for value investment, it depends more on the power of compound interest. IfAcehighpokerYou have a child now, and you open a stock account for your child and deposit $500. if the baby retires at the age of 70, these stocks, based on the average annual return of the S & P 500, $500 will become $500000 by the time the baby is 70, and you don't even need Buffett to do it.