<p>在愚人节那天，有传言称沃伦·巴菲特以 1 万亿美元收购 <strong>特斯拉</strong>（TSLA 3.29%）并接管该公司，这对这位亿万富翁投资者来说将是一个惊人的举动。但结果证明这只是个玩笑，别无其他。虽然特斯拉是电动车（EV）市场的领先公司，但这显然不是我会期待巴菲特购买的股票，更不用说在 <strong>伯克希尔·哈撒韦</strong>（NYSE: BRK.A）（NYSE: BRK.B）投资组合中占据重要位置。</p>
<p>以下是巴菲特可能永远不会拥有该股票的原因，无论其估值如何。</p>
<h2>特斯拉缺乏护城河</h2>
<p>竞争对公司来说是不可避免的，但有些公司在应对竞争方面比其他公司更具优势。对于巴菲特来说，这是一个至关重要的问题：他更喜欢那些拥有可防御的竞争优势的公司，这种优势能够让它们在长期内超越竞争对手。他称之为护城河。</p>
<p>如果你看看巴菲特的一些最爱股票，你会发现它们拥有强大的竞争护城河，使它们能够主导各自的行业。<strong>可口可乐</strong> 是一家标志性的软饮料公司，其品牌在全球消费者中产生共鸣。<strong>苹果</strong> 拥有忠实的客户群，其 iPhone 不仅极受欢迎，而且还是地位的象征。</p>
<p>巴菲特过去提到的唯一一家拥有类似光环的汽车公司是奢侈汽车制造商 <strong>法拉利</strong>，他表示该公司在行业中有一个 “特殊的地位”，在这方面表现突出。但其他公司面临着激烈的竞争，难以从竞争中脱颖而出。</p>
<p>而预测行业的未来可能非常困难。巴菲特在 2023 年表示：“我认为我知道苹果在五年或十年后会在哪里，但我不知道汽车公司在五年或十年后会是什么样子。”</p>
<h2>科技不在他的能力圈内</h2>
<p>巴菲特可能不会拥有特斯拉股票的另一个重要原因是，特斯拉不仅专注于汽车行业，首席执行官埃隆·马斯克还在考虑制造机器人，并积极参与人工智能。科技并不是巴菲特的专长，虽然伯克希尔的投资组合中可能有一些科技公司，但这些类型的购买可能并不是巴菲特本人做的，而是他团队中的其他人所做的。而且这些持股也相对较小。</p>
<p>在查看伯克希尔投资组合中的顶级公司时，更加关注的是能源、消费品和金融。虽然有些人可能称苹果为科技公司，但如今它更像是一家消费品公司，因为它并不处于创新的前沿，而是在增长方面更加谨慎和稳健。</p>
<p>巴菲特提倡在自己的能力圈内保持投资，而不是过于深入未知领域，因为风险往往更大。这就是为什么我无法想象他会购买像特斯拉这样的股票，因为特斯拉喜欢专注于新的和新兴的增长机会。</p>
<h2>巴菲特可能不拥有特斯拉，但你应该拥有吗？</h2>
<p>如果你是科技投资者或对电动车持乐观态度，那么你可能不会看到巴菲特拥有你可能购买的股票，这没有什么错。如果你能接受电动车市场的风险和日益增长的竞争，那么即使巴菲特可能永远不会这样做，特斯拉也可能值得投资。</p>
<p>最终，作为投资者，关注自己的需求和优势是重要的；这些不会与巴菲特相同。你可以利用自己的知识，通过购买其他人可能不太熟悉的股票来获得优势。仅仅因为巴菲特或其他知名投资者没有购买某只特定股票，并不意味着它就是一只糟糕的股票。</p>
<p>每当你投资于一只股票时，进行独立研究是非常重要的，如果研究得出的结论是该股票值得购买，并且你对此有信心，那么你应该考虑将其加入你的投资组合，无论其他人是否拥有它。</p>

特斯拉

<p>沃伦·巴菲特不太可能购买特斯拉的股票，因为特斯拉缺乏竞争护城河，而巴菲特专注于他熟悉的行业。巴菲特更倾向于拥有强大竞争优势的公司，如可口可乐和苹果，并对科技投资持谨慎态度。尽管特斯拉在电动车市场处于领先地位，但其未来仍不确定，而巴菲特的投资策略强调稳定性和可预测性。投资者应进行自己的研究，并考虑自己的风险承受能力，因为巴菲特的偏好可能与他们的投资目标不一致</p>

<p>Back on April Fools' Day, there were rumors about Warren Buffett acquiring <strong>Tesla</strong>(TSLA 3.29%) for $1 trillion and taking it over, in what would have been a stunning move for the billionaire investor. But it turned out to be a joke, nothing else. While Tesla is a leading company in the electric vehicle (EV) market, it's simply not the type of stock I would ever expect Buffett to buy, let alone for it to take up a significant position in the <strong>Berkshire Hathaway</strong>(NYSE: BRK.A)(NYSE: BRK.B) portfolio.</p>
<div class="lb-trans"><p>在愚人节那天，有传言称沃伦·巴菲特以 1 万亿美元收购 <strong>特斯拉</strong>（TSLA 3.29%）并接管该公司，这对这位亿万富翁投资者来说将是一个惊人的举动。但结果证明这只是个玩笑，别无其他。虽然特斯拉是电动车（EV）市场的领先公司，但这显然不是我会期待巴菲特购买的股票，更不用说在 <strong>伯克希尔·哈撒韦</strong>（NYSE: BRK.A）（NYSE: BRK.B）投资组合中占据重要位置。</p>
</div><p>Here's why Buffett would likely never own the stock, regardless of its valuation.</p>
<div class="lb-trans"><p>以下是巴菲特可能永远不会拥有该股票的原因，无论其估值如何。</p>
</div><h2>Tesla lacks a moat</h2>
<div class="lb-trans"><h2>特斯拉缺乏护城河</h2>
</div><p>Competition is inevitable for companies, but some are much better equipped than others when it comes to dealing with it. And for Buffett, that is a paramount issue: he prefers companies that have a defendable, competitive advantage over its rivals that can allow it to outperform over the long run. He refers to this as its moat.</p>
<div class="lb-trans"><p>竞争对公司来说是不可避免的，但有些公司在应对竞争方面比其他公司更具优势。对于巴菲特来说，这是一个至关重要的问题：他更喜欢那些拥有可防御的竞争优势的公司，这种优势能够让它们在长期内超越竞争对手。他称之为护城河。</p>
</div><p>If you look at some of Buffett's favorite stocks, you'll notice they have strong competitive moats that enable them to dominate their respective industries. <strong>Coca-Cola</strong> is an iconic soft drink company that has a brand that resonates with consumers all over the world. <strong>Apple</strong> has a loyal following of customers and its iPhones are not only extremely popular, but are also status symbols.</p>
<div class="lb-trans"><p>如果你看看巴菲特的一些最爱股票，你会发现它们拥有强大的竞争护城河，使它们能够主导各自的行业。<strong>可口可乐</strong> 是一家标志性的软饮料公司，其品牌在全球消费者中产生共鸣。<strong>苹果</strong> 拥有忠实的客户群，其 iPhone 不仅极受欢迎，而且还是地位的象征。</p>
</div><p>The one car company that Buffett has mentioned in the past as having a similar type of aura is luxury automaker <strong>Ferrari</strong>, which he says has a &#34;special place&#34; in the industry and is a standout in that respect. But others face significant competition and will have a hard time separating themselves from the pack.</p>
<div class="lb-trans"><p>巴菲特过去提到的唯一一家拥有类似光环的汽车公司是奢侈汽车制造商 <strong>法拉利</strong>，他表示该公司在行业中有一个 “特殊的地位”，在这方面表现突出。但其他公司面临着激烈的竞争，难以从竞争中脱颖而出。</p>
</div><p>And predicting the future of the industry can be incredibly difficult. &#34;I think I know where Apple's going to be in five or 10 years, and I don't know what the car companies are going to be in five or 10 years,&#34; Buffett said in 2023.</p>
<div class="lb-trans"><p>而预测行业的未来可能非常困难。巴菲特在 2023 年表示：“我认为我知道苹果在五年或十年后会在哪里，但我不知道汽车公司在五年或十年后会是什么样子。”</p>
</div><h2>Tech isn't within his circle of competence</h2>
<div class="lb-trans"><h2>科技不在他的能力圈内</h2>
</div><p>Another important reason Buffett probably won't own Tesla stock is that it is focused on more than just the automotive industry, with CEO Elon Musk also looking at making robots and being heavily involved with artificial intelligence. Tech isn't Buffett's specialty and while there may be the odd tech company within Berkshire's portfolio, those types of purchases likely haven't been made by Buffett himself, but rather others on his team. And they are also fairly small holdings.</p>
<div class="lb-trans"><p>巴菲特可能不会拥有特斯拉股票的另一个重要原因是，特斯拉不仅专注于汽车行业，首席执行官埃隆·马斯克还在考虑制造机器人，并积极参与人工智能。科技并不是巴菲特的专长，虽然伯克希尔的投资组合中可能有一些科技公司，但这些类型的购买可能并不是巴菲特本人做的，而是他团队中的其他人所做的。而且这些持股也相对较小。</p>
</div><p>When looking at the top companies within Berkshire's portfolio, there is more of a focus on energy, consumer goods, and financials. While some might call Apple a tech company, it resembles more of a consumer goods company these days as it isn't at the cutting edge of innovation and is more cautious and measured in its growth.</p>
<div class="lb-trans"><p>在查看伯克希尔投资组合中的顶级公司时，更加关注的是能源、消费品和金融。虽然有些人可能称苹果为科技公司，但如今它更像是一家消费品公司，因为它并不处于创新的前沿，而是在增长方面更加谨慎和稳健。</p>
</div><p>Buffett advocates for staying within your circle of competence and not wading out too far into uncharted waters, where risk is often far greater. That's why I couldn't imagine him buying a stock like Tesla, which loves to focus on new and emerging growth opportunities.</p>
<div class="lb-trans"><p>巴菲特提倡在自己的能力圈内保持投资，而不是过于深入未知领域，因为风险往往更大。这就是为什么我无法想象他会购买像特斯拉这样的股票，因为特斯拉喜欢专注于新的和新兴的增长机会。</p>
</div><h2>Buffett might not own Tesla, but should you?</h2>
<div class="lb-trans"><h2>巴菲特可能不拥有特斯拉，但你应该拥有吗？</h2>
</div><p>If you're a tech investor or are bullish on EVs, then odds are you probably wouldn't see Buffett owning stocks that you might buy, and there's nothing wrong with that. If you're OK with the risk and the growing competition in the EV market, then Tesla may be worth investing in, even if Buffett may never do the same.</p>
<div class="lb-trans"><p>如果你是科技投资者或对电动车持乐观态度，那么你可能不会看到巴菲特拥有你可能购买的股票，这没有什么错。如果你能接受电动车市场的风险和日益增长的竞争，那么即使巴菲特可能永远不会这样做，特斯拉也可能值得投资。</p>
</div><p>Ultimately, it's important to focus on your own needs and strengths as an investor; they won't be the same as Buffett's. And you can use your knowledge to your advantage by buying stocks others may not be as familiar with. Just because Buffett or another prominent investor isn't buying a particular stock doesn't mean that it's a bad one.</p>
<div class="lb-trans"><p>最终，作为投资者，关注自己的需求和优势是重要的；这些不会与巴菲特相同。你可以利用自己的知识，通过购买其他人可能不太熟悉的股票来获得优势。仅仅因为巴菲特或其他知名投资者没有购买某只特定股票，并不意味着它就是一只糟糕的股票。</p>
</div><p>Anytime you are investing in a stock, it's important to do your own independent research, and if that research concludes the stock is a good buy and you're confident about it, then you should consider adding it to your portfolio, regardless of who else owns it.</p>
<div class="lb-trans"><p>每当你投资于一只股票时，进行独立研究是非常重要的，如果研究得出的结论是该股票值得购买，并且你对此有信心，那么你应该考虑将其加入你的投资组合，无论其他人是否拥有它。</p>
</div>

Why Warren Buffett Isn't Likely to Buy Tesla Stock -- Ever

- 传言称沃伦·巴菲特将以 1 万亿美元收购特斯拉，但实为玩笑。  
- 巴菲特偏好具有竞争优势的公司，特斯拉缺乏护城河。  
- 他不擅长科技领域，特斯拉的多元化业务不符合其投资风格。

为什么沃伦·巴菲特永远不太可能购买特斯拉股票