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平理解好生意和护城河的重要指标。它不是随意卖高价的能力，而是因为产品差异化、用户信任和长期价值，让企业在合理范围内拥有不被价格战牵着走的能力。",22.5,{"title":150,"slug":151,"description":152,"category":132,"order":153,"type":10,"volume":10,"volumeOrder":10,"chapterOrder":10},"用户体验","yonghutiyan","段永平对用户体验的关注可以追溯到他做小霸王和步步高时期，那时他用\"消费者导向\"来表达类似的理念。2003年北大演讲中他说：\"对于企业来说，最重要的是产品，而产品又必须以消费者为导向，所以最终你要找准消...",23,{"title":155,"slug":156,"description":157,"category":132,"order":158,"type":10,"volume":10,"volumeOrder":10,"chapterOrder":10},"渠道","qudao","段永平对渠道的理解来源于他在步步高建立全国销售网络的实战经验。1999年在人民大学问答中，被问及步步高在管理上有什么特点时，他提到了\"地区唯一代理制\"的渠道管理模式。这是他最早公开谈论渠道策略的记录。",24,{"title":160,"slug":161,"description":162,"category":132,"order":163,"type":10,"volume":10,"volumeOrder":10,"chapterOrder":10},"平台","pingtai","段永平使用\"平台\"概念主要集中在分析苹果公司的商业模式时。最早出现在2011年他写的\"买入苹果思考\"中：",25,{"title":165,"slug":166,"description":167,"category":132,"order":168,"type":10,"volume":10,"volumeOrder":10,"chapterOrder":10},"生态系统","shengtaixitong","段永平使用\"生态系统\"这一概念主要是在分析苹果公司时。最早出现在2012年前后的投资问答中。当一位网友详细描述了苹果设备之间的联动体验（iPhone、iPad、Mac的无缝协作、App 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CEO、理解乔布斯追求、苹果文化与用户体验。",5230,{"title":848,"slug":849,"description":850,"category":753,"order":851,"type":771,"volume":10,"volumeOrder":10,"chapterOrder":10},"马云：段永平为什么一直认为他了不起","person-mayun","整理段永平对马云的评价：理想主义、现实主义、企业文化、勇气、阿里巴巴与保留。",5240,{"title":853,"slug":854,"description":855,"category":753,"order":856,"type":771,"volume":10,"volumeOrder":10,"chapterOrder":10},"丁磊：段永平为什么说他很有悟性","person-dinglei","整理段永平对丁磊的评价：很有悟性、网易、不卖公司、不会干傻事、单纯与现金克制。",5250,{"title":858,"slug":859,"description":860,"category":753,"order":861,"type":771,"volume":10,"volumeOrder":10,"chapterOrder":10},"马化腾：段永平为什么正面评价他","person-mahuateng","整理段永平对马化腾的评价：人不错、年轻、微信、微信支付、腾讯商业模式与长期影响。",5260,{"title":863,"slug":864,"description":865,"category":753,"order":866,"type":771,"volume":10,"volumeOrder":10,"chapterOrder":10},"俞敏洪：段永平为什么说他是条汉子","person-yuminhong","整理段永平对俞敏洪的评价：新东方、面对问题、韧性、好生意人、条汉子与能力边界。",5270,{"title":868,"slug":869,"description":870,"category":753,"order":871,"type":771,"volume":10,"volumeOrder":10,"chapterOrder":10},"季克良：段永平为什么说他对茅台至关重要","person-jikeliang","整理段永平对季克良的评价：茅台质量文化、造钟人、长期工艺、质量坚持与企业传承。",5280,{"title":873,"slug":874,"description":875,"category":753,"order":876,"type":771,"volume":10,"volumeOrder":10,"chapterOrder":10},"黄仁勋：段永平为什么欣赏他","person-huangrenxun","整理段永平对黄仁勋的评价：真诚、有能量、长期方向一致、英伟达、AI 与能力圈边界。",5290,{"title":878,"slug":879,"description":880,"category":753,"order":881,"type":882,"volume":10,"volumeOrder":10,"chapterOrder":10},"段永平高度评价过的公司","topic-highly-rated-companies","按段永平视角整理他高度评价过的公司，并区分高度评价、正面关注、曾评价后修正和仍需观察。",5300,"topic",{"title":884,"slug":885,"description":886,"category":753,"order":887,"type":882,"volume":10,"volumeOrder":10,"chapterOrder":10},"段永平高度评价过的人","topic-highly-rated-people","按段永平视角整理他高度评价过的人：投资大师、企业家、创始人和关键经营者。",5310,{"title":889,"slug":890,"description":891,"category":753,"order":892,"type":882,"volume":10,"volumeOrder":10,"chapterOrder":10},"段永平正在重估的公司","topic-revaluated-companies","整理段永平从看不懂、保留或低估，逐步重新评估的公司案例：泡泡玛特、英伟达、阿里、新东方等。",5320,{"id":894,"title":413,"body":895,"category":416,"chapterOrder":10,"date":10,"description":415,"extension":2740,"meta":2741,"navigation":2742,"order":417,"path":2743,"seo":2744,"seoDescription":415,"seoTitle":2745,"slug":414,"source":10,"sourceDate":10,"sourceUrl":10,"stem":2746,"tags":2747,"type":418,"volume":10,"volumeOrder":10,"__hash__":2751,"_collection":2752},"dao\u002Fdao\u002Fqanda\u002Fwenda-topic-index.md",{"type":896,"value":897,"toc":2637},"minimark",[898,903,912,940,947,961,968,994,1001,1033,1040,1066,1073,1111,1118,1156,1163,1189,1196,1228,1235,1255,1262,1294,1301,1321,1325,1331,1345,1351,1377,1383,1409,1415,1441,1447,1473,1479,1517,1523,1561,1567,1599,1605,1637,1643,1675,1681,1701,1707,1727,1731,1737,1757,1763,1789,1795,1821,1827,1853,1859,1891,1897,1935,1941,1973,1979,2011,2017,2025,2031,2075,2081,2149,2155,2195,2202,2268,2275,2327,2334,2362,2369,2471,2475,2481,2495,2501,2521,2527,2541,2547,2579,2585,2611,2617],[899,900,902],"h2",{"id":901},"第一卷-投资原则与方法","第一卷 投资原则与方法",[904,905,907,908],"h3",{"id":906},"第一章-买股票就是买公司与价值投资","第一章 ",[909,910,420],"a",{"href":911},"\u002Fwenda-invest-01",[913,914,915,922,928,934],"ul",{},[916,917,918],"li",{},[909,919,921],{"href":920},"\u002Fwenda-invest-01#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%B9%B0%E8%82%A1%E7%A5%A8%E5%B0%B1%E6%98%AF%E4%B9%B0%E5%85%AC%E5%8F%B8","第一节 买股票就是买公司",[916,923,924],{},[909,925,927],{"href":926},"\u002Fwenda-invest-01#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%BB%B7%E5%80%BC%E6%8A%95%E8%B5%84%E7%9A%84%E5%AE%9A%E4%B9%89","第二节 价值投资的定义",[916,929,930],{},[909,931,933],{"href":932},"\u002Fwenda-invest-01#%E7%AC%AC%E4%B8%89%E8%8A%82-%E4%BB%B7%E5%80%BC%E4%BB%B7%E6%A0%BC%E4%B8%8E%E5%8E%9F%E5%88%99%E8%BE%B9%E7%95%8C","第三节 价值、价格与原则边界",[916,935,936],{},[909,937,939],{"href":938},"\u002Fwenda-invest-01#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%BB%A1%E4%BB%93%E4%B8%BB%E4%B9%89%E5%A5%BD%E4%BB%B7%E6%A0%BC%E4%B8%8E%E6%8A%95%E8%B5%84%E5%B8%B8%E8%AF%86","第四节 满仓主义、好价格与投资常识",[904,941,943,944],{"id":942},"第二章-投资为什么简单但不容易","第二章 ",[909,945,432],{"href":946},"\u002Fwenda-invest-02",[913,948,949,955],{},[916,950,951],{},[909,952,954],{"href":953},"\u002Fwenda-invest-02#%E7%AC%AC%E4%B8%80%E8%8A%82-%E7%AE%80%E5%8D%95%E4%B8%8D%E5%AE%B9%E6%98%93%E4%B8%8E%E9%95%BF%E6%9C%9F%E5%AD%A6%E4%B9%A0","第一节 简单、不容易与长期学习",[916,956,957],{},[909,958,960],{"href":959},"\u002Fwenda-invest-02#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%BB%80%E4%B9%88%E4%BA%BA%E9%80%82%E5%90%88%E6%8A%95%E8%B5%84","第二节 什么人适合投资",[904,962,964,965],{"id":963},"第三章-看懂生意与能力圈","第三章 ",[909,966,441],{"href":967},"\u002Fwenda-invest-03",[913,969,970,976,982,988],{},[916,971,972],{},[909,973,975],{"href":974},"\u002Fwenda-invest-03#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BB%80%E4%B9%88%E5%8F%AB%E7%9C%8B%E6%87%82","第一节 什么叫看懂",[916,977,978],{},[909,979,981],{"href":980},"\u002Fwenda-invest-03#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E8%83%BD%E5%8A%9B%E5%9C%88%E4%B8%8E%E6%94%BE%E5%BC%83","第二节 能力圈与放弃",[916,983,984],{},[909,985,987],{"href":986},"\u002Fwenda-invest-03#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%85%88%E7%9C%8B%E5%95%86%E4%B8%9A%E6%A8%A1%E5%BC%8F","第三节 先看商业模式",[916,989,990],{},[909,991,993],{"href":992},"\u002Fwenda-invest-03#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E7%90%86%E8%A7%A3%E4%BC%81%E4%B8%9A%E7%9A%84%E6%96%B9%E6%B3%95","第四节 理解企业的方法",[904,995,997,998],{"id":996},"第四章-风险第一不做空不借钱不懂不碰","第四章 ",[909,999,450],{"href":1000},"\u002Fwenda-invest-04",[913,1002,1003,1009,1015,1021,1027],{},[916,1004,1005],{},[909,1006,1008],{"href":1007},"\u002Fwenda-invest-04#%E7%AC%AC%E4%B8%80%E8%8A%82-%E9%A3%8E%E9%99%A9%E8%80%83%E9%87%8F%E4%B8%8E%E7%BA%AA%E5%BE%8B","第一节 风险考量与纪律",[916,1010,1011],{},[909,1012,1014],{"href":1013},"\u002Fwenda-invest-04#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%B8%8D%E5%81%9A%E7%A9%BA","第二节 不做空",[916,1016,1017],{},[909,1018,1020],{"href":1019},"\u002Fwenda-invest-04#%E7%AC%AC%E4%B8%89%E8%8A%82-%E4%B8%8D%E5%80%9F%E9%92%B1%E4%B8%8D%E5%8A%A0%E6%9D%A0%E6%9D%86","第三节 不借钱、不加杠杆",[916,1022,1023],{},[909,1024,1026],{"href":1025},"\u002Fwenda-invest-04#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E4%B8%8D%E6%87%82%E4%B8%8D%E7%A2%B0","第四节 不懂不碰",[916,1028,1029],{},[909,1030,1032],{"href":1031},"\u002Fwenda-invest-04#%E7%AC%AC%E4%BA%94%E8%8A%82-%E6%9D%A0%E6%9D%86%E7%9A%84%E8%AF%B1%E6%83%91%E4%B8%8E%E4%B8%8B%E6%B3%A8%E7%9A%84%E5%8B%87%E6%B0%94","第五节 杠杆的诱惑与下注的勇气",[904,1034,1036,1037],{"id":1035},"第五章-市场波动宏观与牛熊","第五章 ",[909,1038,459],{"href":1039},"\u002Fwenda-invest-05",[913,1041,1042,1048,1054,1060],{},[916,1043,1044],{},[909,1045,1047],{"href":1046},"\u002Fwenda-invest-05#%E7%AC%AC%E4%B8%80%E8%8A%82-%E6%8A%8A%E6%B3%A2%E5%8A%A8%E5%BD%93%E4%BD%9C%E6%9C%8B%E5%8F%8B","第一节 把波动当作朋友",[916,1049,1050],{},[909,1051,1053],{"href":1052},"\u002Fwenda-invest-05#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%BF%BD%E7%95%A5%E5%B8%82%E5%9C%BA%E5%99%AA%E5%A3%B0","第二节 忽略市场噪声",[916,1055,1056],{},[909,1057,1059],{"href":1058},"\u002Fwenda-invest-05#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%A6%82%E4%BD%95%E7%9C%8B%E5%BE%85%E5%AE%8F%E8%A7%82","第三节 如何看待宏观",[916,1061,1062],{},[909,1063,1065],{"href":1064},"\u002Fwenda-invest-05#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E7%89%9B%E5%B8%82%E4%B8%8E%E7%86%8A%E5%B8%82","第四节 牛市与熊市",[904,1067,1069,1070],{"id":1068},"第六章-长期持有集中投资与机会成本","第六章 ",[909,1071,464],{"href":1072},"\u002Fwenda-invest-06",[913,1074,1075,1081,1087,1093,1099,1105],{},[916,1076,1077],{},[909,1078,1080],{"href":1079},"\u002Fwenda-invest-06#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BB%B7%E5%80%BC%E6%8A%95%E8%B5%84%E4%B8%8D%E7%AD%89%E4%BA%8E%E9%95%BF%E6%9C%9F%E6%8C%81%E6%9C%89","第一节 价值投资不等于长期持有",[916,1082,1083],{},[909,1084,1086],{"href":1085},"\u002Fwenda-invest-06#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%B8%8D%E6%89%93%E7%AE%97%E6%8B%BF%E5%8D%81%E5%B9%B4%E5%B0%B1%E5%88%AB%E6%8B%BF%E5%8D%81%E5%A4%A9","第二节 不打算拿十年，就别拿十天",[916,1088,1089],{},[909,1090,1092],{"href":1091},"\u002Fwenda-invest-06#%E7%AC%AC%E4%B8%89%E8%8A%82-%E4%B8%BA%E4%BB%80%E4%B9%88%E7%9C%8B%E5%8D%81%E5%B9%B4%E6%AF%94%E7%9C%8B%E4%B8%89%E5%B9%B4%E5%AE%B9%E6%98%93","第三节 为什么看十年比看三年容易",[916,1094,1095],{},[909,1096,1098],{"href":1097},"\u002Fwenda-invest-06#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E5%A5%BD%E5%85%AC%E5%8F%B8%E5%A5%BD%E4%BB%B7%E6%A0%BC%E4%B8%8E%E4%BD%95%E6%97%B6%E5%8D%96","第四节 好公司、好价格与何时卖",[916,1100,1101],{},[909,1102,1104],{"href":1103},"\u002Fwenda-invest-06#%E7%AC%AC%E4%BA%94%E8%8A%82-%E9%9B%86%E4%B8%AD%E6%8A%95%E8%B5%84%E4%B8%8E%E4%BB%93%E4%BD%8D","第五节 集中投资与仓位",[916,1106,1107],{},[909,1108,1110],{"href":1109},"\u002Fwenda-invest-06#%E7%AC%AC%E5%85%AD%E8%8A%82-%E6%9C%BA%E4%BC%9A%E6%88%90%E6%9C%AC","第六节 机会成本",[904,1112,1114,1115],{"id":1113},"第七章-现金流折现pe与定性判断","第七章 ",[909,1116,473],{"href":1117},"\u002Fwenda-invest-07",[913,1119,1120,1126,1132,1138,1144,1150],{},[916,1121,1122],{},[909,1123,1125],{"href":1124},"\u002Fwenda-invest-07#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BB%80%E4%B9%88%E6%98%AF%E4%BC%B0%E5%80%BC%E5%AE%9A%E6%80%A7%E5%88%A4%E6%96%AD%E4%B8%8E%E6%AF%9B%E4%BC%B0%E4%BC%B0","第一节 什么是估值：定性判断与毛估估",[916,1127,1128],{},[909,1129,1131],{"href":1130},"\u002Fwenda-invest-07#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%86%85%E5%9C%A8%E4%BB%B7%E5%80%BC%E4%B8%8E%E4%BB%B7%E6%A0%BC","第二节 内在价值与价格",[916,1133,1134],{},[909,1135,1137],{"href":1136},"\u002Fwenda-invest-07#%E7%AC%AC%E4%B8%89%E8%8A%82-%E6%9C%AA%E6%9D%A5%E7%8E%B0%E9%87%91%E6%B5%81%E6%8A%98%E7%8E%B0%E4%B8%80%E7%A7%8D%E6%80%9D%E7%BB%B4%E6%96%B9%E5%BC%8F","第三节 未来现金流折现：一种思维方式",[916,1139,1140],{},[909,1141,1143],{"href":1142},"\u002Fwenda-invest-07#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%8A%98%E7%8E%B0%E7%8E%87%E4%B8%8E%E6%9C%BA%E4%BC%9A%E6%88%90%E6%9C%AC","第四节 折现率与机会成本",[916,1145,1146],{},[909,1147,1149],{"href":1148},"\u002Fwenda-invest-07#%E7%AC%AC%E4%BA%94%E8%8A%82-peev%E4%B8%8E%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E7%9A%84%E8%BE%B9%E7%95%8C","第五节 PE、EV与财务指标的边界",[916,1151,1152],{},[909,1153,1155],{"href":1154},"\u002Fwenda-invest-07#%E7%AC%AC%E5%85%AD%E8%8A%82-%E4%BC%B0%E5%80%BC%E6%A1%88%E4%BE%8B%E4%B8%87%E7%A7%91ge%E8%8C%85%E5%8F%B0%E4%B8%8Edcf%E5%AE%9E%E7%AE%97","第六节 估值案例：万科、GE、茅台与DCF实算",[904,1157,1159,1160],{"id":1158},"第八章-买卖时机与持有就是买入","第八章 ",[909,1161,478],{"href":1162},"\u002Fwenda-invest-08",[913,1164,1165,1171,1177,1183],{},[916,1166,1167],{},[909,1168,1170],{"href":1169},"\u002Fwenda-invest-08#%E7%AC%AC%E4%B8%80%E8%8A%82-%E6%8C%81%E6%9C%89%E5%B0%B1%E6%98%AF%E4%B9%B0%E5%85%A5","第一节 持有就是买入",[916,1172,1173],{},[909,1174,1176],{"href":1175},"\u002Fwenda-invest-08#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%B9%B0%E5%85%A5%E5%92%8C%E5%AE%83%E5%88%B0%E8%BF%87%E4%BB%80%E4%B9%88%E4%BB%B7%E6%97%A0%E5%85%B3","第二节 买入：和它到过什么价无关",[916,1178,1179],{},[909,1180,1182],{"href":1181},"\u002Fwenda-invest-08#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%8D%96%E5%87%BA%E5%92%8C%E4%BD%A0%E7%9A%84%E6%88%90%E6%9C%AC%E6%97%A0%E5%85%B3","第三节 卖出：和你的成本无关",[916,1184,1185],{},[909,1186,1188],{"href":1187},"\u002Fwenda-invest-08#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E4%BB%80%E4%B9%88%E6%97%B6%E5%80%99%E8%AF%A5%E5%8D%96","第四节 什么时候该卖",[904,1190,1192,1193],{"id":1191},"第九章-财报现金流roe与净资产","第九章 ",[909,1194,483],{"href":1195},"\u002Fwenda-invest-09",[913,1197,1198,1204,1210,1216,1222],{},[916,1199,1200],{},[909,1201,1203],{"href":1202},"\u002Fwenda-invest-09#%E7%AC%AC%E4%B8%80%E8%8A%82-%E8%B4%A2%E6%8A%A5%E7%9A%84%E4%BD%9C%E7%94%A8","第一节 财报的作用",[916,1205,1206],{},[909,1207,1209],{"href":1208},"\u002Fwenda-invest-09#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E7%8E%B0%E9%87%91%E6%B5%81%E4%B8%8E%E7%9C%9F%E5%AE%9E%E5%88%A9%E6%B6%A6","第二节 现金流与真实利润",[916,1211,1212],{},[909,1213,1215],{"href":1214},"\u002Fwenda-invest-09#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%87%80%E8%B5%84%E4%BA%A7%E4%B8%8E%E8%B4%9F%E5%80%BA","第三节 净资产与负债",[916,1217,1218],{},[909,1219,1221],{"href":1220},"\u002Fwenda-invest-09#%E7%AC%AC%E5%9B%9B%E8%8A%82-roe%E4%B8%8E%E7%BB%8F%E8%90%A5%E6%95%88%E7%8E%87","第四节 ROE与经营效率",[916,1223,1224],{},[909,1225,1227],{"href":1226},"\u002Fwenda-invest-09#%E7%AC%AC%E4%BA%94%E8%8A%82-%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E7%9A%84%E8%BE%B9%E7%95%8C","第五节 财务指标的边界",[904,1229,1231,1232],{"id":1230},"第十章-分红回购与资本配置","第十章 ",[909,1233,488],{"href":1234},"\u002Fwenda-invest-10",[913,1236,1237,1243,1249],{},[916,1238,1239],{},[909,1240,1242],{"href":1241},"\u002Fwenda-invest-10#%E7%AC%AC%E4%B8%80%E8%8A%82-%E8%B5%84%E6%9C%AC%E9%85%8D%E7%BD%AE%E5%8E%9F%E5%88%99","第一节 资本配置原则",[916,1244,1245],{},[909,1246,1248],{"href":1247},"\u002Fwenda-invest-10#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%88%86%E7%BA%A2","第二节 分红",[916,1250,1251],{},[909,1252,1254],{"href":1253},"\u002Fwenda-invest-10#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%9B%9E%E8%B4%AD%E5%80%BA%E5%8A%A1%E4%B8%8E%E5%85%AC%E5%8F%B8%E6%98%AF%E5%94%AF%E4%B8%80%E7%9A%84%E4%B9%B0%E5%AE%B6","第三节 回购、债务与“公司是唯一的买家”",[904,1256,1258,1259],{"id":1257},"第十一章-投机套利量化与衍生品","第十一章 ",[909,1260,493],{"href":1261},"\u002Fwenda-invest-11",[913,1263,1264,1270,1276,1282,1288],{},[916,1265,1266],{},[909,1267,1269],{"href":1268},"\u002Fwenda-invest-11#%E7%AC%AC%E4%B8%80%E8%8A%82-%E6%8A%95%E8%B5%84%E4%B8%8E%E6%8A%95%E6%9C%BA","第一节 投资与投机",[916,1271,1272],{},[909,1273,1275],{"href":1274},"\u002Fwenda-invest-11#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%B9%B0option%E6%98%AF%E6%8A%95%E6%9C%BA%E5%8D%96option%E5%83%8F%E5%BC%80%E8%B5%8C%E5%9C%BA","第二节 买option是投机，卖option像开赌场",[916,1277,1278],{},[909,1279,1281],{"href":1280},"\u002Fwenda-invest-11#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%A5%97%E5%88%A9%E6%97%A0%E9%A3%8E%E9%99%A9%E8%B5%9A%E7%82%B9%E5%B0%8F%E9%92%B1","第三节 套利：无风险赚点小钱",[916,1283,1284],{},[909,1285,1287],{"href":1286},"\u002Fwenda-invest-11#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E9%87%8F%E5%8C%96%E4%BA%A4%E6%98%93","第四节 量化交易",[916,1289,1290],{},[909,1291,1293],{"href":1292},"\u002Fwenda-invest-11#%E7%AC%AC%E4%BA%94%E8%8A%82-%E5%8D%96put%E7%9A%84%E5%AE%9E%E5%8A%A1%E4%B8%8E%E9%99%90%E5%88%B6","第五节 卖put的实务与限制",[904,1295,1297,1298],{"id":1296},"第十二章-投资心态golf阅读与学习","第十二章 ",[909,1299,498],{"href":1300},"\u002Fwenda-invest-12",[913,1302,1303,1309,1315],{},[916,1304,1305],{},[909,1306,1308],{"href":1307},"\u002Fwenda-invest-12#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%B9%B3%E5%B8%B8%E5%BF%83%E7%90%86%E6%80%A7%E4%B8%8E%E6%8A%95%E8%B5%84%E7%BB%8F%E9%AA%8C","第一节 平常心、理性与投资经验",[916,1310,1311],{},[909,1312,1314],{"href":1313},"\u002Fwenda-invest-12#%E7%AC%AC%E4%BA%8C%E8%8A%82-golf%E4%B8%8E%E6%8A%95%E8%B5%84","第二节 Golf与投资",[916,1316,1317],{},[909,1318,1320],{"href":1319},"\u002Fwenda-invest-12#%E7%AC%AC%E4%B8%89%E8%8A%82-%E9%98%85%E8%AF%BB%E4%B8%8E%E5%AD%A6%E4%B9%A0","第三节 阅读与学习",[899,1322,1324],{"id":1323},"第二卷-商业模式与经营","第二卷 商业模式与经营",[904,1326,907,1328],{"id":1327},"第一章-伟大企业与长坡厚雪",[909,1329,503],{"href":1330},"\u002Fwenda-business-01",[913,1332,1333,1339],{},[916,1334,1335],{},[909,1336,1338],{"href":1337},"\u002Fwenda-business-01#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BC%9F%E5%A4%A7%E4%BC%81%E4%B8%9A%E7%9A%84%E6%A0%87%E5%87%86","第一节 伟大企业的标准",[916,1340,1341],{},[909,1342,1344],{"href":1343},"\u002Fwenda-business-01#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E9%95%BF%E5%9D%A1%E5%8E%9A%E9%9B%AA","第二节 长坡厚雪",[904,1346,943,1348],{"id":1347},"第二章-商业模式与投资确定性",[909,1349,509],{"href":1350},"\u002Fwenda-business-02",[913,1352,1353,1359,1365,1371],{},[916,1354,1355],{},[909,1356,1358],{"href":1357},"\u002Fwenda-business-02#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BB%80%E4%B9%88%E6%98%AF%E7%94%9F%E6%84%8F%E6%A8%A1%E5%BC%8F","第一节 什么是生意模式",[916,1360,1361],{},[909,1362,1364],{"href":1363},"\u002Fwenda-business-02#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%A5%BD%E6%A8%A1%E5%BC%8F%E7%9A%84%E5%88%A4%E6%96%AD%E6%A0%87%E5%87%86","第二节 好模式的判断标准",[916,1366,1367],{},[909,1368,1370],{"href":1369},"\u002Fwenda-business-02#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%95%86%E4%B8%9A%E6%A8%A1%E5%BC%8F%E4%B8%8E%E6%8A%95%E8%B5%84%E7%A1%AE%E5%AE%9A%E6%80%A7","第三节 商业模式与投资确定性",[916,1372,1373],{},[909,1374,1376],{"href":1375},"\u002Fwenda-business-02#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E8%8B%A6%E7%94%9F%E6%84%8F%E4%B8%8E%E7%83%82%E6%A8%A1%E5%BC%8F%E7%9A%84%E7%89%B9%E5%BE%81","第四节 苦生意与烂模式的特征",[904,1378,964,1380],{"id":1379},"第三章-护城河与差异化",[909,1381,514],{"href":1382},"\u002Fwenda-business-03",[913,1384,1385,1391,1397,1403],{},[916,1386,1387],{},[909,1388,1390],{"href":1389},"\u002Fwenda-business-03#%E7%AC%AC%E4%B8%80%E8%8A%82-%E6%8A%A4%E5%9F%8E%E6%B2%B3%E5%B0%B1%E6%98%AF%E5%9E%84%E6%96%AD","第一节 护城河就是垄断",[916,1392,1393],{},[909,1394,1396],{"href":1395},"\u002Fwenda-business-03#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%AE%9A%E4%BB%B7%E6%9D%83%E6%8A%A4%E5%9F%8E%E6%B2%B3%E7%9A%84%E8%AF%95%E9%87%91%E7%9F%B3","第二节 定价权：护城河的试金石",[916,1398,1399],{},[909,1400,1402],{"href":1401},"\u002Fwenda-business-03#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%B7%AE%E5%BC%82%E5%8C%96%E6%98%AF%E6%8A%A4%E5%9F%8E%E6%B2%B3%E7%9A%84%E6%9D%A5%E6%BA%90","第三节 差异化是护城河的来源",[916,1404,1405],{},[909,1406,1408],{"href":1407},"\u002Fwenda-business-03#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E9%9A%BE%E4%BB%A5%E5%B7%AE%E5%BC%82%E5%8C%96%E7%9A%84%E7%94%9F%E6%84%8F","第四节 难以差异化的生意",[904,1410,997,1412],{"id":1411},"第四章-好产品与用户导向",[909,1413,519],{"href":1414},"\u002Fwenda-business-04",[913,1416,1417,1423,1429,1435],{},[916,1418,1419],{},[909,1420,1422],{"href":1421},"\u002Fwenda-business-04#%E7%AC%AC%E4%B8%80%E8%8A%82-%E6%B6%88%E8%B4%B9%E8%80%85%E5%AF%BC%E5%90%91%E5%B8%82%E5%9C%BA%E5%AF%BC%E5%90%91%E4%B8%8E%E5%88%A9%E6%B6%A6%E5%AF%BC%E5%90%91","第一节 消费者导向、市场导向与利润导向",[916,1424,1425],{},[909,1426,1428],{"href":1427},"\u002Fwenda-business-04#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%BB%80%E4%B9%88%E6%98%AF%E5%A5%BD%E4%BA%A7%E5%93%81","第二节 什么是好产品",[916,1430,1431],{},[909,1432,1434],{"href":1433},"\u002Fwenda-business-04#%E7%AC%AC%E4%B8%89%E8%8A%82-%E7%94%A8%E6%88%B7%E8%A7%86%E8%A7%92%E7%9A%84%E5%88%A4%E6%96%AD%E6%96%B9%E6%B3%95","第三节 用户视角的判断方法",[916,1436,1437],{},[909,1438,1440],{"href":1439},"\u002Fwenda-business-04#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E5%A5%BD%E4%BA%A7%E5%93%81%E4%B8%8E%E7%94%A8%E6%88%B7%E5%AF%BC%E5%90%91%E7%9A%84%E6%A1%88%E4%BE%8B","第四节 好产品与用户导向的案例",[904,1442,1036,1444],{"id":1443},"第五章-创新与敢为天下后",[909,1445,524],{"href":1446},"\u002Fwenda-business-05",[913,1448,1449,1455,1461,1467],{},[916,1450,1451],{},[909,1452,1454],{"href":1453},"\u002Fwenda-business-05#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%88%9B%E6%96%B0%E4%B8%8D%E6%98%AF%E4%B8%BA%E4%BA%86%E4%B8%8D%E5%90%8C","第一节 创新不是为了不同",[916,1456,1457],{},[909,1458,1460],{"href":1459},"\u002Fwenda-business-05#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%88%9B%E6%96%B0%E7%9A%84%E5%9C%9F%E5%A3%A4%E4%B8%93%E5%88%A9%E6%96%87%E5%8C%96%E4%B8%8E%E7%8E%AF%E5%A2%83","第二节 创新的土壤：专利、文化与环境",[916,1462,1463],{},[909,1464,1466],{"href":1465},"\u002Fwenda-business-05#%E7%AC%AC%E4%B8%89%E8%8A%82-%E6%95%A2%E4%B8%BA%E5%A4%A9%E4%B8%8B%E5%90%8E","第三节 敢为天下后",[916,1468,1469],{},[909,1470,1472],{"href":1471},"\u002Fwenda-business-05#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%95%A2%E4%B8%BA%E5%A4%A9%E4%B8%8B%E5%90%8E%E7%9A%84%E5%89%8D%E6%8F%90%E6%98%AF%E5%B7%AE%E5%BC%82%E5%8C%96","第四节 敢为天下后的前提是差异化",[904,1474,1069,1476],{"id":1475},"第六章-品牌的本质",[909,1477,529],{"href":1478},"\u002Fwenda-business-06",[913,1480,1481,1487,1493,1499,1505,1511],{},[916,1482,1483],{},[909,1484,1486],{"href":1485},"\u002Fwenda-business-06#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%93%81%E7%89%8C%E6%98%AF%E4%BB%80%E4%B9%88","第一节 品牌是什么",[916,1488,1489],{},[909,1490,1492],{"href":1491},"\u002Fwenda-business-06#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%93%81%E7%89%8C%E6%B2%A1%E6%9C%89%E6%BA%A2%E4%BB%B7","第二节 品牌没有溢价",[916,1494,1495],{},[909,1496,1498],{"href":1497},"\u002Fwenda-business-06#%E7%AC%AC%E4%B8%89%E8%8A%82-%E4%B8%8D%E5%AD%98%E5%9C%A8%E5%93%81%E7%89%8C%E5%BF%A0%E8%AF%9A%E5%BA%A6","第三节 不存在品牌忠诚度",[916,1500,1501],{},[909,1502,1504],{"href":1503},"\u002Fwenda-business-06#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E5%93%81%E7%89%8C%E7%9A%84%E5%90%8D%E5%AD%97","第四节 品牌的名字",[916,1506,1507],{},[909,1508,1510],{"href":1509},"\u002Fwenda-business-06#%E7%AC%AC%E4%BA%94%E8%8A%82-%E5%BB%BA%E7%AB%8B%E8%87%AA%E5%B7%B1%E7%9A%84%E5%93%81%E7%89%8C","第五节 建立自己的品牌",[916,1512,1513],{},[909,1514,1516],{"href":1515},"\u002Fwenda-business-06#%E7%AC%AC%E5%85%AD%E8%8A%82-%E4%BB%80%E4%B9%88%E7%94%9F%E6%84%8F%E5%81%9A%E4%B8%8D%E5%87%BA%E5%93%81%E7%89%8C","第六节 什么生意做不出品牌",[904,1518,1114,1520],{"id":1519},"第七章-营销广告渠道与出海",[909,1521,534],{"href":1522},"\u002Fwenda-business-07",[913,1524,1525,1531,1537,1543,1549,1555],{},[916,1526,1527],{},[909,1528,1530],{"href":1529},"\u002Fwenda-business-07#%E7%AC%AC%E4%B8%80%E8%8A%82-%E8%90%A5%E9%94%80%E6%98%AF%E4%BB%80%E4%B9%88%E4%B8%8D%E6%98%AF%E4%BB%80%E4%B9%88","第一节 营销是什么，不是什么",[916,1532,1533],{},[909,1534,1536],{"href":1535},"\u002Fwenda-business-07#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%B9%BF%E5%91%8A%E5%8F%AA%E8%A1%A8%E8%BE%BE%E4%BA%A7%E5%93%81%E4%B8%8D%E8%B5%8B%E4%BA%88%E4%BA%A7%E5%93%81","第二节 广告只表达产品，不赋予产品",[916,1538,1539],{},[909,1540,1542],{"href":1541},"\u002Fwenda-business-07#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%B9%BF%E5%91%8A%E8%AF%8D%E4%B8%8E%E6%98%8E%E6%98%9F%E4%BB%A3%E8%A8%80","第三节 广告词与明星代言",[916,1544,1545],{},[909,1546,1548],{"href":1547},"\u002Fwenda-business-07#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E5%B9%BF%E5%91%8A%E6%8A%95%E5%85%A5%E4%B8%8E%E4%BA%A7%E5%87%BA","第四节 广告投入与产出",[916,1550,1551],{},[909,1552,1554],{"href":1553},"\u002Fwenda-business-07#%E7%AC%AC%E4%BA%94%E8%8A%82-%E4%BB%B7%E6%A0%BC%E4%BD%93%E7%B3%BB%E4%B8%8E%E6%B8%A0%E9%81%93","第五节 价格体系与渠道",[916,1556,1557],{},[909,1558,1560],{"href":1559},"\u002Fwenda-business-07#%E7%AC%AC%E5%85%AD%E8%8A%82-%E5%87%BA%E6%B5%B7%E4%B8%8E%E5%9B%BD%E9%99%85%E5%B8%82%E5%9C%BA","第六节 出海与国际市场",[904,1562,1159,1564],{"id":1563},"第八章-企业文化",[909,1565,129],{"href":1566},"\u002Fwenda-business-08",[913,1568,1569,1575,1581,1587,1593],{},[916,1570,1571],{},[909,1572,1574],{"href":1573},"\u002Fwenda-business-08#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BB%80%E4%B9%88%E6%98%AF%E4%BC%81%E4%B8%9A%E6%96%87%E5%8C%96","第一节 什么是企业文化",[916,1576,1577],{},[909,1578,1580],{"href":1579},"\u002Fwenda-business-08#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E6%96%87%E5%8C%96%E4%B8%BA%E4%BB%80%E4%B9%88%E9%87%8D%E8%A6%81","第二节 文化为什么重要",[916,1582,1583],{},[909,1584,1586],{"href":1585},"\u002Fwenda-business-08#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%A6%82%E4%BD%95%E5%88%A4%E6%96%AD%E4%BC%81%E4%B8%9A%E6%96%87%E5%8C%96","第三节 如何判断企业文化",[916,1588,1589],{},[909,1590,1592],{"href":1591},"\u002Fwenda-business-08#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%96%87%E5%8C%96%E7%9A%84%E5%BB%BA%E7%AB%8B%E4%B8%8E%E4%BC%A0%E6%89%BF","第四节 文化的建立与传承",[916,1594,1595],{},[909,1596,1598],{"href":1597},"\u002Fwenda-business-08#%E7%AC%AC%E4%BA%94%E8%8A%82-%E6%96%87%E5%8C%96%E6%A1%88%E4%BE%8B","第五节 文化案例",[904,1600,1192,1602],{"id":1601},"第九章-本分平常心与利润之上的追求",[909,1603,543],{"href":1604},"\u002Fwenda-business-09",[913,1606,1607,1613,1619,1625,1631],{},[916,1608,1609],{},[909,1610,1612],{"href":1611},"\u002Fwenda-business-09#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BB%80%E4%B9%88%E6%98%AF%E6%9C%AC%E5%88%86","第一节 什么是本分",[916,1614,1615],{},[909,1616,1618],{"href":1617},"\u002Fwenda-business-09#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E6%9C%AC%E5%88%86%E7%9A%84%E4%BB%A3%E4%BB%B7%E4%BF%A1%E8%AA%89%E6%89%BF%E8%AF%BA%E4%B8%8E%E5%8E%9F%E5%88%99","第二节 本分的代价：信誉、承诺与原则",[916,1620,1621],{},[909,1622,1624],{"href":1623},"\u002Fwenda-business-09#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%B9%B3%E5%B8%B8%E5%BF%83","第三节 平常心",[916,1626,1627],{},[909,1628,1630],{"href":1629},"\u002Fwenda-business-09#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E5%88%A9%E6%B6%A6%E4%B9%8B%E4%B8%8A%E7%9A%84%E8%BF%BD%E6%B1%82","第四节 利润之上的追求",[916,1632,1633],{},[909,1634,1636],{"href":1635},"\u002Fwenda-business-09#%E7%AC%AC%E4%BA%94%E8%8A%82-%E6%9C%AC%E5%88%86%E7%9A%84%E9%95%BF%E6%9C%9F%E7%BB%93%E6%9E%9C","第五节 本分的长期结果",[904,1638,1231,1640],{"id":1639},"第十章-创始人ceo团队与激励",[909,1641,548],{"href":1642},"\u002Fwenda-business-10",[913,1644,1645,1651,1657,1663,1669],{},[916,1646,1647],{},[909,1648,1650],{"href":1649},"\u002Fwenda-business-10#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%88%9B%E5%A7%8B%E4%BA%BA%E4%B8%8E%E9%80%A0%E9%92%9F%E4%BA%BA","第一节 创始人与造钟人",[916,1652,1653],{},[909,1654,1656],{"href":1655},"\u002Fwenda-business-10#%E7%AC%AC%E4%BA%8C%E8%8A%82-ceo%E4%B8%8E%E7%AE%A1%E7%90%86%E5%B1%82","第二节 CEO与管理层",[916,1658,1659],{},[909,1660,1662],{"href":1661},"\u002Fwenda-business-10#%E7%AC%AC%E4%B8%89%E8%8A%82-%E8%91%A3%E4%BA%8B%E4%BC%9A%E4%B8%8E%E6%B2%BB%E7%90%86","第三节 董事会与治理",[916,1664,1665],{},[909,1666,1668],{"href":1667},"\u002Fwenda-business-10#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E9%80%89%E4%BA%BA%E4%B8%8E%E5%9B%A2%E9%98%9F","第四节 选人与团队",[916,1670,1671],{},[909,1672,1674],{"href":1673},"\u002Fwenda-business-10#%E7%AC%AC%E4%BA%94%E8%8A%82-%E6%BF%80%E5%8A%B1%E5%85%AC%E5%B9%B3%E4%B8%8E%E8%A7%84%E5%88%99","第五节 激励、公平与规则",[904,1676,1258,1678],{"id":1677},"第十一章-stop-doing-list聚焦与更健康更长久",[909,1679,553],{"href":1680},"\u002Fwenda-business-11",[913,1682,1683,1689,1695],{},[916,1684,1685],{},[909,1686,1688],{"href":1687},"\u002Fwenda-business-11#%E7%AC%AC%E4%B8%80%E8%8A%82-stop-doing-list","第一节 Stop Doing List",[916,1690,1691],{},[909,1692,1694],{"href":1693},"\u002Fwenda-business-11#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E8%81%9A%E7%84%A6%E4%B8%8E%E5%8F%96%E8%88%8D","第二节 聚焦与取舍",[916,1696,1697],{},[909,1698,1700],{"href":1699},"\u002Fwenda-business-11#%E7%AC%AC%E4%B8%89%E8%8A%82-%E6%9B%B4%E5%81%A5%E5%BA%B7%E6%9B%B4%E9%95%BF%E4%B9%85","第三节 更健康更长久",[904,1702,1297,1704],{"id":1703},"第十二章-收购与多元化",[909,1705,558],{"href":1706},"\u002Fwenda-business-12",[913,1708,1709,1715,1721],{},[916,1710,1711],{},[909,1712,1714],{"href":1713},"\u002Fwenda-business-12#%E7%AC%AC%E4%B8%80%E8%8A%82-%E6%94%B6%E8%B4%AD%E7%9A%84%E6%88%90%E5%8A%9F%E6%9D%A1%E4%BB%B6","第一节 收购的成功条件",[916,1716,1717],{},[909,1718,1720],{"href":1719},"\u002Fwenda-business-12#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%A4%9A%E5%85%83%E5%8C%96%E8%81%9A%E7%84%A6%E4%B8%8E%E8%83%BD%E5%8A%9B%E5%9C%88","第二节 多元化、聚焦与能力圈",[916,1722,1723],{},[909,1724,1726],{"href":1725},"\u002Fwenda-business-12#%E7%AC%AC%E4%B8%89%E8%8A%82-%E6%94%B6%E8%B4%AD%E4%B8%8E%E5%A4%9A%E5%85%83%E5%8C%96%E6%A1%88%E4%BE%8B","第三节 收购与多元化案例",[899,1728,1730],{"id":1729},"第三卷-公司案例","第三卷 公司案例",[904,1732,907,1734],{"id":1733},"第一章-苹果产品商业模式与生态",[909,1735,563],{"href":1736},"\u002Fwenda-company-apple-01",[913,1738,1739,1745,1751],{},[916,1740,1741],{},[909,1742,1744],{"href":1743},"\u002Fwenda-company-apple-01#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BA%A7%E5%93%81%E4%B8%8E%E7%94%A8%E6%88%B7%E4%BD%93%E9%AA%8C","第一节 产品与用户体验",[916,1746,1747],{},[909,1748,1750],{"href":1749},"\u002Fwenda-company-apple-01#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%95%86%E4%B8%9A%E6%A8%A1%E5%BC%8F%E7%94%9F%E6%80%81%E4%B8%8E%E8%81%9A%E7%84%A6","第二节 商业模式、生态与聚焦",[916,1752,1753],{},[909,1754,1756],{"href":1755},"\u002Fwenda-company-apple-01#%E7%AC%AC%E4%B8%89%E8%8A%82-%E7%AB%9E%E4%BA%89%E4%B8%8E%E9%95%BF%E6%9C%9F%E4%BC%98%E5%8A%BF","第三节 竞争与长期优势",[904,1758,943,1760],{"id":1759},"第二章-苹果管理层与企业文化",[909,1761,569],{"href":1762},"\u002Fwenda-company-apple-02",[913,1764,1765,1771,1777,1783],{},[916,1766,1767],{},[909,1768,1770],{"href":1769},"\u002Fwenda-company-apple-02#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%B9%94%E5%B8%83%E6%96%AF%E4%B8%8E%E9%80%A0%E9%92%9F","第一节 乔布斯与造钟",[916,1772,1773],{},[909,1774,1776],{"href":1775},"\u002Fwenda-company-apple-02#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%BA%93%E5%85%8B%E4%B8%8E%E7%AE%A1%E7%90%86%E5%B1%82","第二节 库克与管理层",[916,1778,1779],{},[909,1780,1782],{"href":1781},"\u002Fwenda-company-apple-02#%E7%AC%AC%E4%B8%89%E8%8A%82-%E8%8B%B9%E6%9E%9C%E4%BC%81%E4%B8%9A%E6%96%87%E5%8C%96","第三节 苹果企业文化",[916,1784,1785],{},[909,1786,1788],{"href":1787},"\u002Fwenda-company-apple-02#%E7%AC%AC%E5%9B%9B%E8%8A%82-ceo%E4%BA%A4%E6%8E%A5%E5%BA%93%E5%85%8B%E4%B8%8Ejohn-ternus","第四节 CEO交接：库克与John Ternus",[904,1790,964,1792],{"id":1791},"第三章-苹果估值持有与资本配置",[909,1793,574],{"href":1794},"\u002Fwenda-company-apple-03",[913,1796,1797,1803,1809,1815],{},[916,1798,1799],{},[909,1800,1802],{"href":1801},"\u002Fwenda-company-apple-03#%E7%AC%AC%E4%B8%80%E8%8A%82-%E7%9C%8B%E6%87%82%E8%8B%B9%E6%9E%9C%E4%BC%B0%E5%80%BC%E4%B8%8E%E9%95%BF%E6%9C%9F%E9%A3%8E%E9%99%A9","第一节 看懂苹果、估值与长期风险",[916,1804,1805],{},[909,1806,1808],{"href":1807},"\u002Fwenda-company-apple-03#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%B9%B0%E5%85%A5%E6%8C%81%E6%9C%89%E4%B8%8E%E5%8D%96%E5%87%BA","第二节 买入、持有与卖出",[916,1810,1811],{},[909,1812,1814],{"href":1813},"\u002Fwenda-company-apple-03#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%88%86%E7%BA%A2%E5%9B%9E%E8%B4%AD%E4%B8%8E%E7%8E%B0%E9%87%91","第三节 分红、回购与现金",[916,1816,1817],{},[909,1818,1820],{"href":1819},"\u002Fwenda-company-apple-03#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%88%90%E7%86%9F%E6%9C%9F%E7%9A%84%E8%8B%B9%E6%9E%9C","第四节 成熟期的苹果",[904,1822,997,1824],{"id":1823},"第四章-贵州茅台产品品牌与商业模式",[909,1825,579],{"href":1826},"\u002Fwenda-company-maotai-01",[913,1828,1829,1835,1841,1847],{},[916,1830,1831],{},[909,1832,1834],{"href":1833},"\u002Fwenda-company-maotai-01#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BA%A7%E5%93%81%E4%B8%8E%E5%93%81%E8%B4%A8","第一节 产品与品质",[916,1836,1837],{},[909,1838,1840],{"href":1839},"\u002Fwenda-company-maotai-01#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%93%81%E7%89%8C%E4%B8%8E%E6%B6%88%E8%B4%B9%E8%80%85%E5%BF%83%E6%99%BA","第二节 品牌与消费者心智",[916,1842,1843],{},[909,1844,1846],{"href":1845},"\u002Fwenda-company-maotai-01#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%95%86%E4%B8%9A%E6%A8%A1%E5%BC%8F%E4%BE%9B%E9%9C%80%E4%B8%8E%E9%95%BF%E6%9C%9F%E4%BC%98%E5%8A%BF","第三节 商业模式、供需与长期优势",[916,1848,1849],{},[909,1850,1852],{"href":1851},"\u002Fwenda-company-maotai-01#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E5%A1%91%E5%8C%96%E5%89%82%E5%BE%80%E4%BA%8B%E4%B8%8E%E5%93%81%E7%89%8C%E4%BF%A1%E5%BF%83","第四节 塑化剂往事与品牌信心",[904,1854,1036,1856],{"id":1855},"第五章-贵州茅台治理渠道与i茅台",[909,1857,584],{"href":1858},"\u002Fwenda-company-maotai-02",[913,1860,1861,1867,1873,1879,1885],{},[916,1862,1863],{},[909,1864,1866],{"href":1865},"\u002Fwenda-company-maotai-02#%E7%AC%AC%E4%B8%80%E8%8A%82-%E7%AE%A1%E7%90%86%E5%B1%82%E4%B8%8E%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86","第一节 管理层与公司治理",[916,1868,1869],{},[909,1870,1872],{"href":1871},"\u002Fwenda-company-maotai-02#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E6%B8%A0%E9%81%93%E7%9B%B4%E9%94%80%E4%B8%8E%E4%BB%B7%E6%A0%BC%E4%BD%93%E7%B3%BB","第二节 渠道、直销与价格体系",[916,1874,1875],{},[909,1876,1878],{"href":1877},"\u002Fwenda-company-maotai-02#%E7%AC%AC%E4%B8%89%E8%8A%82-i%E8%8C%85%E5%8F%B0%E4%B8%8E%E6%95%B0%E5%AD%97%E5%8C%96%E9%94%80%E5%94%AE","第三节 i茅台与数字化销售",[916,1880,1881],{},[909,1882,1884],{"href":1883},"\u002Fwenda-company-maotai-02#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%89%93%E5%81%87%E4%B8%8E%E7%BB%8F%E8%90%A5%E9%97%AE%E9%A2%98","第四节 打假与经营问题",[916,1886,1887],{},[909,1888,1890],{"href":1889},"\u002Fwenda-company-maotai-02#%E7%AC%AC%E4%BA%94%E8%8A%82-%E4%BE%9B%E9%9C%80i%E8%8C%85%E5%8F%B0%E4%B8%8E%E6%8B%86%E8%82%A1","第五节 供需、i茅台与拆股",[904,1892,1069,1894],{"id":1893},"第六章-贵州茅台估值与投资判断",[909,1895,589],{"href":1896},"\u002Fwenda-company-maotai-03",[913,1898,1899,1905,1911,1917,1923,1929],{},[916,1900,1901],{},[909,1902,1904],{"href":1903},"\u002Fwenda-company-maotai-03#%E7%AC%AC%E4%B8%80%E8%8A%82-%E9%95%BF%E6%9C%9F%E4%BB%B7%E5%80%BC%E4%B8%8E%E5%8D%81%E5%B9%B4%E5%88%A4%E6%96%AD","第一节 长期价值与十年判断",[916,1906,1907],{},[909,1908,1910],{"href":1909},"\u002Fwenda-company-maotai-03#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%BC%B0%E5%80%BC%E4%B8%8E%E4%BB%B7%E6%A0%BC","第二节 估值与价格",[916,1912,1913],{},[909,1914,1916],{"href":1915},"\u002Fwenda-company-maotai-03#%E7%AC%AC%E4%B8%89%E8%8A%82-%E4%B9%B0%E5%85%A5%E5%A2%9E%E6%8C%81%E4%B8%8E%E6%8C%81%E6%9C%89","第三节 买入、增持与持有",[916,1918,1919],{},[909,1920,1922],{"href":1921},"\u002Fwenda-company-maotai-03#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E5%88%86%E7%BA%A2%E4%B8%8E%E8%B5%84%E6%9C%AC%E9%85%8D%E7%BD%AE","第四节 分红与资本配置",[916,1924,1925],{},[909,1926,1928],{"href":1927},"\u002Fwenda-company-maotai-03#%E7%AC%AC%E4%BA%94%E8%8A%82-%E9%A3%8E%E9%99%A9%E4%B8%8E%E5%90%8E%E7%BB%AD%E6%9B%B4%E6%96%B0","第五节 风险与后续更新",[916,1930,1931],{},[909,1932,1934],{"href":1933},"\u002Fwenda-company-maotai-03#%E7%AC%AC%E5%85%AD%E8%8A%82-%E6%98%8E%E7%89%8C%E4%BC%B0%E5%80%BC%E5%81%87%E8%AE%BE%E4%B8%8E%E6%AF%94%E8%BE%83","第六节 明牌、估值假设与比较",[904,1936,1114,1938],{"id":1937},"第七章-小霸王与步步高",[909,1939,594],{"href":1940},"\u002Fwenda-company-bbk",[913,1942,1943,1949,1955,1961,1967],{},[916,1944,1945],{},[909,1946,1948],{"href":1947},"\u002Fwenda-company-bbk#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BB%8E%E5%B0%8F%E9%9C%B8%E7%8E%8B%E5%88%B0%E6%AD%A5%E6%AD%A5%E9%AB%98","第一节 从小霸王到步步高",[916,1950,1951],{},[909,1952,1954],{"href":1953},"\u002Fwenda-company-bbk#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E4%BC%81%E4%B8%9A%E6%96%87%E5%8C%96%E4%B8%8E%E6%9C%AC%E5%88%86","第二节 企业文化与本分",[916,1956,1957],{},[909,1958,1960],{"href":1959},"\u002Fwenda-company-bbk#%E7%AC%AC%E4%B8%89%E8%8A%82-%E4%BA%A7%E5%93%81%E5%93%81%E7%89%8C%E6%B8%A0%E9%81%93%E4%B8%8E%E5%85%AC%E5%8F%B8%E6%A1%88%E4%BE%8B","第三节 产品、品牌、渠道与公司案例",[916,1962,1963],{},[909,1964,1966],{"href":1965},"\u002Fwenda-company-bbk#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%AD%A5%E6%AD%A5%E9%AB%98%E7%9A%84%E4%B8%8D%E4%B8%BA%E6%B8%85%E5%8D%95","第四节 步步高的不为清单",[916,1968,1969],{},[909,1970,1972],{"href":1971},"\u002Fwenda-company-bbk#%E7%AC%AC%E4%BA%94%E8%8A%82-%E5%93%81%E7%89%8C%E8%AE%B0%E5%BF%86%E4%B8%8E%E4%B8%89%E5%AE%B6%E5%85%AC%E5%8F%B8","第五节 品牌记忆与三家公司",[904,1974,1159,1976],{"id":1975},"第八章-网易",[909,1977,599],{"href":1978},"\u002Fwenda-company-netease",[913,1980,1981,1987,1993,1999,2005],{},[916,1982,1983],{},[909,1984,1986],{"href":1985},"\u002Fwenda-company-netease#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%8F%91%E7%8E%B0%E4%B8%8E%E4%B9%B0%E5%85%A5%E7%BD%91%E6%98%93","第一节 发现与买入网易",[916,1988,1989],{},[909,1990,1992],{"href":1991},"\u002Fwenda-company-netease#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E6%B8%B8%E6%88%8F%E6%98%AF%E5%A5%BD%E7%94%9F%E6%84%8F","第二节 游戏是好生意",[916,1994,1995],{},[909,1996,1998],{"href":1997},"\u002Fwenda-company-netease#%E7%AC%AC%E4%B8%89%E8%8A%82-%E4%B8%81%E7%A3%8A%E4%B8%8E%E7%AE%A1%E7%90%86%E5%9B%A2%E9%98%9F","第三节 丁磊与管理团队",[916,2000,2001],{},[909,2002,2004],{"href":2003},"\u002Fwenda-company-netease#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%8C%81%E6%9C%89%E5%8A%A0%E4%BB%93%E4%B8%8E%E5%8D%96%E5%87%BA","第四节 持有、加仓与卖出",[916,2006,2007],{},[909,2008,2010],{"href":2009},"\u002Fwenda-company-netease#%E7%AC%AC%E4%BA%94%E8%8A%82-%E6%A2%A6%E5%B9%BB%E6%83%85%E7%BC%98%E4%B8%8E%E8%BF%91%E5%86%B5","第五节 梦幻情缘与近况",[904,2012,1192,2014],{"id":2013},"第九章-阿里巴巴与雅虎",[909,2015,604],{"href":2016},"\u002Fwenda-company-alibaba-yahoo",[913,2018,2019],{},[916,2020,2021],{},[909,2022,2024],{"href":2023},"\u002Fwenda-company-alibaba-yahoo#%E7%AC%AC%E4%B8%80%E8%8A%82-%E9%98%BF%E9%87%8C%E5%B7%B4%E5%B7%B4%E4%B8%8E%E9%9B%85%E8%99%8E","第一节 阿里巴巴与雅虎",[904,2026,1231,2028],{"id":2027},"第十章-泡泡玛特",[909,2029,609],{"href":2030},"\u002Fwenda-company-pop-mart",[913,2032,2033,2039,2045,2051,2057,2063,2069],{},[916,2034,2035],{},[909,2036,2038],{"href":2037},"\u002Fwenda-company-pop-mart#%E7%AC%AC%E4%B8%80%E8%8A%82-%E6%B3%A1%E6%B3%A1%E7%8E%9B%E7%89%B9","第一节 泡泡玛特",[916,2040,2041],{},[909,2042,2044],{"href":2043},"\u002Fwenda-company-pop-mart#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%BB%BA%E4%BB%93%E8%BF%87%E7%A8%8B%E4%B8%8E%E6%9C%9F%E6%9D%83%E8%BF%90%E7%94%A8","第二节 建仓过程与期权运用",[916,2046,2047],{},[909,2048,2050],{"href":2049},"\u002Fwenda-company-pop-mart#%E7%AC%AC%E4%B8%89%E8%8A%82-%E6%83%85%E7%BB%AA%E4%BB%B7%E5%80%BC%E4%B8%8E%E7%94%A8%E6%88%B7%E8%A7%82%E5%AF%9F","第三节 情绪价值与用户观察",[916,2052,2053],{},[909,2054,2056],{"href":2055},"\u002Fwenda-company-pop-mart#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%8C%81%E7%BB%AD%E6%80%A7%E4%B8%8E%E4%BC%B0%E5%80%BC","第四节 持续性与估值",[916,2058,2059],{},[909,2060,2062],{"href":2061},"\u002Fwenda-company-pop-mart#%E7%AC%AC%E4%BA%94%E8%8A%82-%E7%8E%8B%E5%AE%81%E4%B8%8E%E4%BC%81%E4%B8%9A%E6%96%87%E5%8C%96","第五节 王宁与企业文化",[916,2064,2065],{},[909,2066,2068],{"href":2067},"\u002Fwenda-company-pop-mart#%E7%AC%AC%E5%85%AD%E8%8A%82-%E5%B8%82%E5%9C%BA%E5%A3%B0%E9%9F%B3%E4%B8%8E%E6%8A%95%E8%B5%84%E5%BF%83%E6%80%81","第六节 市场声音与投资心态",[916,2070,2071],{},[909,2072,2074],{"href":2073},"\u002Fwenda-company-pop-mart#%E7%AC%AC%E4%B8%83%E8%8A%82-%E9%97%A8%E5%BA%97%E6%B5%B7%E5%A4%96%E4%B8%8E%E4%BE%9B%E5%BA%94%E9%93%BE","第七节 门店、海外与供应链",[904,2076,1258,2078],{"id":2077},"第十一章-消费电子与日本制造",[909,2079,614],{"href":2080},"\u002Fwenda-company-consumer-electronics",[913,2082,2083,2103,2129],{},[916,2084,2085,2089],{},[909,2086,2088],{"href":2087},"\u002Fwenda-company-consumer-electronics#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%9B%BD%E4%BA%A7%E6%B6%88%E8%B4%B9%E7%94%B5%E5%AD%90","第一节 国产消费电子",[913,2090,2091,2097],{},[916,2092,2093],{},[909,2094,2096],{"href":2095},"\u002Fwenda-company-consumer-electronics#oppo","OPPO",[916,2098,2099],{},[909,2100,2102],{"href":2101},"\u002Fwenda-company-consumer-electronics#vivo","vivo",[916,2104,2105,2109],{},[909,2106,2108],{"href":2107},"\u002Fwenda-company-consumer-electronics#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E6%97%A5%E6%9C%AC%E6%B6%88%E8%B4%B9%E7%94%B5%E5%AD%90%E4%B8%8E%E6%B8%B8%E6%88%8F","第二节 日本消费电子与游戏",[913,2110,2111,2117,2123],{},[916,2112,2113],{},[909,2114,2116],{"href":2115},"\u002Fwenda-company-consumer-electronics#%E4%BB%BB%E5%A4%A9%E5%A0%82","任天堂",[916,2118,2119],{},[909,2120,2122],{"href":2121},"\u002Fwenda-company-consumer-electronics#%E7%B4%A2%E5%B0%BC","索尼",[916,2124,2125],{},[909,2126,2128],{"href":2127},"\u002Fwenda-company-consumer-electronics#%E6%9D%BE%E4%B8%8B","松下",[916,2130,2131,2135],{},[909,2132,2134],{"href":2133},"\u002Fwenda-company-consumer-electronics#%E7%AC%AC%E4%B8%89%E8%8A%82-%E8%AF%BA%E5%9F%BA%E4%BA%9A%E8%81%94%E6%83%B3%E4%B8%8E%E6%97%A5%E6%9C%AC%E4%BC%81%E4%B8%9A%E8%A7%82%E5%AF%9F","第三节 诺基亚、联想与日本企业观察",[913,2136,2137,2143],{},[916,2138,2139],{},[909,2140,2142],{"href":2141},"\u002Fwenda-company-consumer-electronics#%E8%AF%BA%E5%9F%BA%E4%BA%9A%E4%B8%8E%E8%81%94%E6%83%B3","诺基亚与联想",[916,2144,2145],{},[909,2146,2148],{"href":2147},"\u002Fwenda-company-consumer-electronics#%E6%97%A5%E6%9C%AC%E4%BC%81%E4%B8%9A%E8%A7%82%E5%AF%9F","日本企业观察",[904,2150,1297,2152],{"id":2151},"第十二章-中国游戏公司群像",[909,2153,619],{"href":2154},"\u002Fwenda-company-china-games",[913,2156,2157],{},[916,2158,2159,2163],{},[909,2160,2162],{"href":2161},"\u002Fwenda-company-china-games#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%B8%AD%E5%9B%BD%E6%B8%B8%E6%88%8F%E5%85%AC%E5%8F%B8%E6%A1%88%E4%BE%8B","第一节 中国游戏公司案例",[913,2164,2165,2171,2177,2183,2189],{},[916,2166,2167],{},[909,2168,2170],{"href":2169},"\u002Fwenda-company-china-games#%E5%AE%8C%E7%BE%8E%E4%B8%96%E7%95%8C","完美世界",[916,2172,2173],{},[909,2174,2176],{"href":2175},"\u002Fwenda-company-china-games#%E5%B7%A8%E4%BA%BA%E7%BD%91%E7%BB%9C","巨人网络",[916,2178,2179],{},[909,2180,2182],{"href":2181},"\u002Fwenda-company-china-games#%E9%87%91%E5%B1%B1","金山",[916,2184,2185],{},[909,2186,2188],{"href":2187},"\u002Fwenda-company-china-games#%E7%95%85%E6%B8%B8","畅游",[916,2190,2191],{},[909,2192,2194],{"href":2193},"\u002Fwenda-company-china-games#%E7%AC%AC%E4%B9%9D%E5%9F%8E%E5%B8%82","第九城市",[904,2196,2198,2199],{"id":2197},"第十三章-互联网科技与新产业","第十三章 ",[909,2200,624],{"href":2201},"\u002Fwenda-company-tech-platforms",[913,2203,2204,2236,2262],{},[916,2205,2206,2210],{},[909,2207,2209],{"href":2208},"\u002Fwenda-company-tech-platforms#%E7%AC%AC%E4%B8%80%E8%8A%82-%E4%BA%92%E8%81%94%E7%BD%91%E5%B9%B3%E5%8F%B0","第一节 互联网平台",[913,2211,2212,2218,2224,2230],{},[916,2213,2214],{},[909,2215,2217],{"href":2216},"\u002Fwenda-company-tech-platforms#%E8%85%BE%E8%AE%AF","腾讯",[916,2219,2220],{},[909,2221,2223],{"href":2222},"\u002Fwenda-company-tech-platforms#%E6%8B%BC%E5%A4%9A%E5%A4%9A","拼多多",[916,2225,2226],{},[909,2227,2229],{"href":2228},"\u002Fwenda-company-tech-platforms#%E8%B0%B7%E6%AD%8C","谷歌",[916,2231,2232],{},[909,2233,2235],{"href":2234},"\u002Fwenda-company-tech-platforms#%E8%84%B8%E4%B9%A6facebook","脸书（Facebook）",[916,2237,2238,2242],{},[909,2239,2241],{"href":2240},"\u002Fwenda-company-tech-platforms#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E7%A7%91%E6%8A%80%E4%B8%8E%E6%96%B0%E4%BA%A7%E4%B8%9A","第二节 科技与新产业",[913,2243,2244,2250,2256],{},[916,2245,2246],{},[909,2247,2249],{"href":2248},"\u002Fwenda-company-tech-platforms#%E8%8B%B1%E4%BC%9F%E8%BE%BE","英伟达",[916,2251,2252],{},[909,2253,2255],{"href":2254},"\u002Fwenda-company-tech-platforms#%E7%89%B9%E6%96%AF%E6%8B%89","特斯拉",[916,2257,2258],{},[909,2259,2261],{"href":2260},"\u002Fwenda-company-tech-platforms#%E6%B3%A2%E9%9F%B3%E8%8B%B1%E7%89%B9%E5%B0%94%E4%B8%8E%E5%8F%B0%E7%A7%AF%E7%94%B5","波音、英特尔与台积电",[916,2263,2264],{},[909,2265,2267],{"href":2266},"\u002Fwenda-company-tech-platforms#%E7%AC%AC%E4%B8%89%E8%8A%82-%E8%85%BE%E8%AE%AF%E7%89%B9%E6%96%AF%E6%8B%89%E4%B8%8E%E6%96%B0%E4%BA%A7%E4%B8%9A","第三节 腾讯、特斯拉与新产业",[904,2269,2271,2272],{"id":2270},"第十四章-零售与服务业案例","第十四章 ",[909,2273,629],{"href":2274},"\u002Fwenda-company-retail-services",[913,2276,2277,2321],{},[916,2278,2279,2283],{},[909,2280,2282],{"href":2281},"\u002Fwenda-company-retail-services#%E7%AC%AC%E4%B8%80%E8%8A%82-%E9%9B%B6%E5%94%AE%E4%B8%8E%E6%9C%8D%E5%8A%A1%E4%B8%9A","第一节 零售与服务业",[913,2284,2285,2291,2297,2303,2309,2315],{},[916,2286,2287],{},[909,2288,2290],{"href":2289},"\u002Fwenda-company-retail-services#costco","Costco",[916,2292,2293],{},[909,2294,2296],{"href":2295},"\u002Fwenda-company-retail-services#%E7%94%B5%E5%95%86%E4%B8%8E%E4%BC%A0%E7%BB%9F%E9%9B%B6%E5%94%AE","电商与传统零售",[916,2298,2299],{},[909,2300,2302],{"href":2301},"\u002Fwenda-company-retail-services#%E6%96%B0%E4%B8%9C%E6%96%B9","新东方",[916,2304,2305],{},[909,2306,2308],{"href":2307},"\u002Fwenda-company-retail-services#%E6%B5%B7%E5%BA%95%E6%8D%9E","海底捞",[916,2310,2311],{},[909,2312,2314],{"href":2313},"\u002Fwenda-company-retail-services#%E4%BA%9A%E9%A9%AC%E9%80%8A","亚马逊",[916,2316,2317],{},[909,2318,2320],{"href":2319},"\u002Fwenda-company-retail-services#%E7%89%A9%E6%B5%81","物流",[916,2322,2323],{},[909,2324,2326],{"href":2325},"\u002Fwenda-company-retail-services#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E8%88%AA%E7%A9%BA%E4%B8%9A%E5%B7%B4%E8%8F%B2%E7%89%B9%E4%B8%8E%E6%AE%B5%E6%B0%B8%E5%B9%B3%E7%9A%84%E5%8D%96%E5%87%BA","第二节 航空业：巴菲特与段永平的卖出",[904,2328,2330,2331],{"id":2329},"第十五章-能源与工业企业案例","第十五章 ",[909,2332,634],{"href":2333},"\u002Fwenda-company-energy-industrial",[913,2335,2336],{},[916,2337,2338,2342],{},[909,2339,2341],{"href":2340},"\u002Fwenda-company-energy-industrial#%E7%AC%AC%E4%B8%80%E8%8A%82-%E8%83%BD%E6%BA%90%E4%B8%8E%E5%B7%A5%E4%B8%9A%E4%BC%81%E4%B8%9A","第一节 能源与工业企业",[913,2343,2344,2350,2356],{},[916,2345,2346],{},[909,2347,2349],{"href":2348},"\u002Fwenda-company-energy-industrial#oxy%E8%A5%BF%E6%96%B9%E7%9F%B3%E6%B2%B9","OXY（西方石油）",[916,2351,2352],{},[909,2353,2355],{"href":2354},"\u002Fwenda-company-energy-industrial#%E4%BB%A3%E5%B7%A5%E4%B8%9A%E4%B8%8E%E5%85%89%E4%BC%8F","代工业与光伏",[916,2357,2358],{},[909,2359,2361],{"href":2360},"\u002Fwenda-company-energy-industrial#ge%E9%80%9A%E7%94%A8%E7%94%B5%E6%B0%94","GE（通用电气）",[904,2363,2365,2366],{"id":2364},"第十六章-传统行业公司群像","第十六章 ",[909,2367,639],{"href":2368},"\u002Fwenda-company-traditional-industries",[913,2370,2371,2391,2417,2443,2457],{},[916,2372,2373,2377],{},[909,2374,2376],{"href":2375},"\u002Fwenda-company-traditional-industries#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%AE%B6%E7%94%B5%E6%A0%BC%E5%8A%9B%E4%B8%8E%E7%BE%8E%E7%9A%84","第一节 家电：格力与美的",[913,2378,2379,2385],{},[916,2380,2381],{},[909,2382,2384],{"href":2383},"\u002Fwenda-company-traditional-industries#%E6%A0%BC%E5%8A%9B","格力",[916,2386,2387],{},[909,2388,2390],{"href":2389},"\u002Fwenda-company-traditional-industries#%E7%BE%8E%E7%9A%84","美的",[916,2392,2393,2397],{},[909,2394,2396],{"href":2395},"\u002Fwenda-company-traditional-industries#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E6%B1%BD%E8%BD%A6%E6%AF%94%E4%BA%9A%E8%BF%AA%E4%B8%B0%E7%94%B0%E4%B8%8E%E9%80%9A%E7%94%A8%E6%B1%BD%E8%BD%A6","第二节 汽车：比亚迪、丰田与通用汽车",[913,2398,2399,2405,2411],{},[916,2400,2401],{},[909,2402,2404],{"href":2403},"\u002Fwenda-company-traditional-industries#%E6%AF%94%E4%BA%9A%E8%BF%AA","比亚迪",[916,2406,2407],{},[909,2408,2410],{"href":2409},"\u002Fwenda-company-traditional-industries#%E4%B8%B0%E7%94%B0","丰田",[916,2412,2413],{},[909,2414,2416],{"href":2415},"\u002Fwenda-company-traditional-industries#%E9%80%9A%E7%94%A8%E6%B1%BD%E8%BD%A6","通用汽车",[916,2418,2419,2423],{},[909,2420,2422],{"href":2421},"\u002Fwenda-company-traditional-industries#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%9C%B0%E4%BA%A7%E4%B8%8E%E6%96%87%E6%97%85%E4%B8%87%E7%A7%91%E5%8D%8E%E4%BE%A8%E5%9F%8E%E4%B8%8E%E6%98%9F%E6%B2%B3%E6%B9%BE","第三节 地产与文旅：万科、华侨城与星河湾",[913,2424,2425,2431,2437],{},[916,2426,2427],{},[909,2428,2430],{"href":2429},"\u002Fwenda-company-traditional-industries#%E4%B8%87%E7%A7%91","万科",[916,2432,2433],{},[909,2434,2436],{"href":2435},"\u002Fwenda-company-traditional-industries#%E5%8D%8E%E4%BE%A8%E5%9F%8E","华侨城",[916,2438,2439],{},[909,2440,2442],{"href":2441},"\u002Fwenda-company-traditional-industries#%E6%98%9F%E6%B2%B3%E6%B9%BE","星河湾",[916,2444,2445,2449],{},[909,2446,2448],{"href":2447},"\u002Fwenda-company-traditional-industries#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E9%93%B6%E8%A1%8C%E6%8B%9B%E5%95%86%E9%93%B6%E8%A1%8C","第四节 银行：招商银行",[913,2450,2451],{},[916,2452,2453],{},[909,2454,2456],{"href":2455},"\u002Fwenda-company-traditional-industries#%E6%8B%9B%E5%95%86%E9%93%B6%E8%A1%8C","招商银行",[916,2458,2459,2463],{},[909,2460,2462],{"href":2461},"\u002Fwenda-company-traditional-industries#%E7%AC%AC%E4%BA%94%E8%8A%82-%E9%A3%9F%E5%93%81%E5%8F%8C%E6%B1%87","第五节 食品：双汇",[913,2464,2465],{},[916,2466,2467],{},[909,2468,2470],{"href":2469},"\u002Fwenda-company-traditional-industries#%E5%8F%8C%E6%B1%87","双汇",[899,2472,2474],{"id":2473},"第四卷-人生与成长","第四卷 人生与成长",[904,2476,907,2478],{"id":2477},"第一章-做对的事情与把事情做对",[909,2479,644],{"href":2480},"\u002Fwenda-life-01",[913,2482,2483,2489],{},[916,2484,2485],{},[909,2486,2488],{"href":2487},"\u002Fwenda-life-01#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%81%9A%E5%AF%B9%E7%9A%84%E4%BA%8B%E6%83%85","第一节 做对的事情",[916,2490,2491],{},[909,2492,2494],{"href":2493},"\u002Fwenda-life-01#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E9%95%BF%E6%9C%9F%E9%80%89%E6%8B%A9%E4%B8%8E%E6%9C%BA%E4%BC%9A%E6%88%90%E6%9C%AC","第二节 长期选择与机会成本",[904,2496,943,2498],{"id":2497},"第二章-正直理性与长期视角",[909,2499,650],{"href":2500},"\u002Fwenda-life-02",[913,2502,2503,2509,2515],{},[916,2504,2505],{},[909,2506,2508],{"href":2507},"\u002Fwenda-life-02#%E7%AC%AC%E4%B8%80%E8%8A%82-%E6%AD%A3%E7%9B%B4%E4%B8%8E%E8%AF%9A%E4%BF%A1","第一节 正直与诚信",[916,2510,2511],{},[909,2512,2514],{"href":2513},"\u002Fwenda-life-02#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E7%90%86%E6%80%A7%E4%B8%8E%E5%8E%9F%E5%88%99","第二节 理性与原则",[916,2516,2517],{},[909,2518,2520],{"href":2519},"\u002Fwenda-life-02#%E7%AC%AC%E4%B8%89%E8%8A%82-%E9%95%BF%E6%9C%9F%E8%A7%86%E8%A7%92%E4%B8%8E%E8%84%9A%E8%B8%8F%E5%AE%9E%E5%9C%B0","第三节 长期视角与脚踏实地",[904,2522,964,2524],{"id":2523},"第三章-职业创业与享受过程",[909,2525,655],{"href":2526},"\u002Fwenda-life-03",[913,2528,2529,2535],{},[916,2530,2531],{},[909,2532,2534],{"href":2533},"\u002Fwenda-life-03#%E7%AC%AC%E4%B8%80%E8%8A%82-%E8%81%8C%E4%B8%9A%E9%80%89%E6%8B%A9%E4%B8%8E%E5%88%9B%E4%B8%9A","第一节 职业选择与创业",[916,2536,2537],{},[909,2538,2540],{"href":2539},"\u002Fwenda-life-03#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%81%9A%E5%96%9C%E6%AC%A2%E7%9A%84%E4%BA%8B%E6%83%85","第二节 做喜欢的事情",[904,2542,997,2544],{"id":2543},"第四章-家庭孩子与教育",[909,2545,660],{"href":2546},"\u002Fwenda-life-04",[913,2548,2549,2555,2561,2567,2573],{},[916,2550,2551],{},[909,2552,2554],{"href":2553},"\u002Fwenda-life-04#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%AE%B6%E5%BA%AD%E4%B8%8E%E9%99%AA%E4%BC%B4","第一节 家庭与陪伴",[916,2556,2557],{},[909,2558,2560],{"href":2559},"\u002Fwenda-life-04#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E5%AD%A9%E5%AD%90%E4%B8%8E%E5%AE%89%E5%85%A8%E6%84%9F","第二节 孩子与安全感",[916,2562,2563],{},[909,2564,2566],{"href":2565},"\u002Fwenda-life-04#%E7%AC%AC%E4%B8%89%E8%8A%82-%E6%95%99%E8%82%B2%E4%B8%8E%E6%88%90%E9%95%BF","第三节 教育与成长",[916,2568,2569],{},[909,2570,2572],{"href":2571},"\u002Fwenda-life-04#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E9%87%91%E9%92%B1%E6%B8%B8%E6%88%8F%E4%B8%8E%E8%BE%B9%E7%95%8C","第四节 金钱、游戏与边界",[916,2574,2575],{},[909,2576,2578],{"href":2577},"\u002Fwenda-life-04#%E7%AC%AC%E4%BA%94%E8%8A%82-%E5%A4%9A%E5%AD%90%E5%A5%B3%E9%80%89%E6%8B%A9%E4%B8%8E%E4%BC%A0%E6%89%BF","第五节 多子女、选择与传承",[904,2580,1036,2582],{"id":2581},"第五章-开放学习公益与社会责任",[909,2583,665],{"href":2584},"\u002Fwenda-life-05",[913,2586,2587,2593,2599,2605],{},[916,2588,2589],{},[909,2590,2592],{"href":2591},"\u002Fwenda-life-05#%E7%AC%AC%E4%B8%80%E8%8A%82-%E5%BC%80%E6%94%BE%E5%BF%83%E6%80%81%E4%B8%8E%E5%AD%A6%E4%B9%A0","第一节 开放心态与学习",[916,2594,2595],{},[909,2596,2598],{"href":2597},"\u002Fwenda-life-05#%E7%AC%AC%E4%BA%8C%E8%8A%82-%E9%98%85%E8%AF%BB%E4%B8%8E%E6%80%9D%E8%80%83","第二节 阅读与思考",[916,2600,2601],{},[909,2602,2604],{"href":2603},"\u002Fwenda-life-05#%E7%AC%AC%E4%B8%89%E8%8A%82-%E5%85%AC%E7%9B%8A%E4%B8%8E%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB","第三节 公益与社会责任",[916,2606,2607],{},[909,2608,2610],{"href":2609},"\u002Fwenda-life-05#%E7%AC%AC%E5%9B%9B%E8%8A%82-%E6%95%99%E8%82%B2%E5%85%AC%E7%9B%8A%E4%B8%8E%E9%95%BF%E6%9C%9F%E7%8E%AF%E5%A2%83","第四节 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