2025大事件：巴菲特退休，他的投资理念给人留下什么启示？

Core Insights - Warren Buffett's retirement marks the end of an era in investment, emphasizing the enduring value of his investment philosophy [3] - The article highlights the importance of maintaining composure and a long-term perspective in the face of market volatility, as demonstrated by Buffett's investment strategies [6][12] Group 1: Investment Philosophy - Buffett's approach to investing is rooted in the belief that market fluctuations should be viewed as opportunities rather than threats, advocating for a long-term investment horizon [6] - The principle of "ability circle" is emphasized, where investors should only engage in sectors they fully understand to mitigate unknown risks [12][13] Group 2: Fund Management and Performance - The article discusses the challenges faced by public fund managers who may chase short-term performance at the expense of value investing principles, leading to significant performance gaps [8] - The China Securities Regulatory Commission's new guidelines aim to promote long-term performance evaluation for public funds, enhancing the importance of fund ratings [8][9] - Top-performing fund companies, such as E Fund and ICBC Credit Suisse, demonstrate strong long-term performance, with several funds achieving annualized returns exceeding 15% and 20% [9][11] Group 3: Industry Trends and Future Outlook - The public fund industry in China has surpassed 35 trillion yuan, playing a crucial role in supporting the real economy and enhancing investor returns [15] - The shift towards prioritizing investor returns over mere scale is highlighted as a key trend in the ongoing reform of the public fund industry [15]