8899年8月1日 星期六

巴菲特班講稿與盈再表免費下載



我的學生雷大(魏睿宏)在文章裡剽竊了我的選股原則還跑去告我違反投信投顧法,所以我決定把巴菲特班全面公開,免費讓大家閱讀講稿及下載盈再表,無需註冊,歡迎到處散發。
巴菲特班不再開課,只在討論區公開討論。

網頁盈再表:stocks.ddns.net (點我)

(請在該網頁右上角巴菲特圓形頭像處免費註冊登錄使用)


(講稿為上課逐字稿,讀講稿等同上課,
可不必再看上面二本拙著,因講稿內容更完整。
買書請逕洽網路書店,本人不賣書)

(若討論區進不去,應是網站在維修,跟本人無關,請稍待幾天。
只要這世上還有窮人巴班討論區就不會關閉。)


講稿和盈再表公開後 (點我)
雷的方法跟巴菲特班很像 (點我)

宥聰同學說:「你將成為所有投資人的老師!」

id4eric2同學:「這裡是網路財神廟,我常來參拜!」




在學投資的路上,大學唸統計,碩士論文寫專家系統,在外資當電子股分析師,之後離開券商讓我得以跳脫舊有框架找到巴菲特,波克夏年報讀了四遍,開了巴菲特班,設計出盈再表,史上最便利的選股工具。


以下英文由ChatGPT翻譯 (The following English translations were provided by ChatGPT.)

On the path of learning to invest, I studied statistics in college and wrote my master’s thesis on expert systems. I worked as a tech stock analyst at a foreign securities house. Later, I left the brokerage industry, which allowed me to break free from old frameworks and discover Warren Buffett. I read Berkshire Hathaway’s annual reports four times, started a Buffett course, and designed the Michael On's Table — the most convenient stock-picking tool in history.


統計、寫程式、投資,我樣樣稀鬆略懂皮毛,卻恰好成為最適合發明盈再表的人,若分別找三個領域的專家在溝通困難下十倍時間也做不出來。很多人問我盈再表上各項獨門指標的設定可曾查閱過大量書籍?其實完全沒有,都是靈感自然流露。看著年報中一段文字我Excel表格一拉即發明了盈再率;預期報酬率是坐在馬桶上突然宣洩而下;預期常利則是在路上靈光乍現 ...。很驚訝不太會唸書的我居然看得懂年報,並把它量化成明確可依循的標準,還出現小天使Alex吳同學開發出功能強大的網頁盈再表。時間一到答案就會浮現,彷彿有老天爺引導。


Statistics, programming, investing — I only have a modest grasp of each, but that’s exactly what made me the perfect person to invent the On's Table. If you brought together experts from all three fields, they might spend ten times the effort and still not succeed, simply because of communication barriers.

Many people ask whether I consulted a mountain of books to define the unique indicators used in the On's Table. The truth is, I didn’t — they all came to me through spontaneous inspiration. A single phrase in an annual report sparked the creation of the Profit Reinvestment Rate as I dragged cells in Excel. The Expected Return Rate came to me out of the blue while sitting on the toilet. The concept of Expected Recurring Net Profit struck like lightning while I was walking down the street.

I’m still amazed that someone like me — never a top student — could not only understand annual reports but also distill them into clear, actionable metrics. Then, like a little angel, my student Alex Wu appeared and developed a powerful web-based version of the On's Table. When the time comes, the answers just reveal themselves—as if guided by God.


這是我的大半生,順序銜接得剛剛好,可是仍然有一個遺憾不能在大學時就學會巴菲特神功,賺大錢需靠複利效果越早開始越好。我出社會即當分析師,學了一堆無用的技術分析和外資基本面研究,蹉跎了十二年才真正領悟巴菲特。我希望巴菲特方法能成為每個人的必修課,盈再表永遠流傳。跟基督教一樣如果需要付費才能上教堂將難以傳播福音,老天指引我免費公開講稿與盈再表,讓本討論區成為人人每天必來禮拜的教堂。歡迎諸位大德都來信巴菲特教,帶著家人一起按盈再表,傳承下去就能世世代代永保富貴。


This has been the story of most of my life — each step unfolding exactly as it should. Yet I still carry one regret: not learning Buffett’s wisdom back in college. To truly build wealth, you need the power of compounding — and the earlier you start, the better.

When I first entered the workforce as an analyst, I studied various ineffective technical analyses and foreign fundamental research. It took me twelve years of trial and error before I finally grasped Buffett’s true approach.

I hope Buffett’s method becomes a required course for everyone, and that the On’s Table is passed down through generations. As with Christianity, if attending church required tuition, it would be difficult to spread the gospel. Guided by God, I’ve chosen to share my lecture notes and the On’s Table freely, turning this forum into a kind of church — a place people return to each day for guidance and inspiration.

I warmly invite all of you, fellow believers, to join the faith of Buffett. Bring your families, use the On’s Table together, and pass it on. That way, generation after generation can enjoy lasting wealth and enduring prosperity.


洪瑞泰是把巴菲特理論講清楚的第一人,艱澀的投資理論在他巧妙的比喻下竟饒富趣味。台股開始流行選股看ROE、配得出現金、好學生特質皆啟蒙於他2004年出版的「巴菲特選股魔法書」。


Michael On was the first to clearly explain Buffett’s theory. What was once a complex investment concept became surprisingly accessible and engaging through his clever metaphors. The widespread popularity of stock selection based on ROE, cash dividends, and economic moat in the Taiwan stock market can all be traced back to his 2004 book, Warren Buffett’s Magic Book of Stock Selection.



他發明的盈再表是最簡單方便的投資工具,個股好壞一目瞭然,地雷股無所遁形,輕鬆做遍台、美、港、中、全球49國股票。

The On’s Table he invented is the simplest and most user-friendly stock-picking tool available. It allows you to instantly assess the quality of individual stocks, leaving no risky investments hidden. With it, you can effortlessly analyze stocks from Taiwan, the U.S., Hong Kong, China, and 49 other countries around the world.

洪瑞泰更是唯一敢把股票帳戶完整長期公開的人,以身作則而且言行合一。他的績效驚人,二本巨著「巴菲特選股魔法書」和「巴菲特選股神功」後的入圍名單中碳、大統益、台積電、和泰車、巨大、裕融、豐泰、茂順,檔檔漲幅數倍,遠遠打敗大盤。美股 UNH、CSX、GD、MMM、RHI、DGX、JPM也翻了幾翻。

Mike is also the only person brave enough to fully and continuously disclose his stock accounts, leading by example with consistency between his words and actions. His performance is remarkable. Among the stocks listed after his two major works, Warren Buffett’s Magic Book of Stock Selection and Warren Buffett's Skills of Stock Selection, companies like China Steel Chemical (1723.TW), TTET Union (1232.TW), TSM, Hotai Motor (2207.TW), Giant (9921.TW), Yulon Finance (9941.TW), Feng Tay (9910.TW), and NAK Sealing Tech (9942.TW) all saw their prices multiply several times, far outperforming the broader market. U.S. stocks such as UNH, CSX, GD, MMM, RHI, DGX, and JPM also grew multiple times over.

自2003年開班以來,洪瑞泰教出一堆傑出校友賺了大錢,見諸於理財雜誌。許多同學的一生因而改變,移民澳洲,財務自由,連鐵工廠銑床技師也轟轟烈烈在投資全世界。

Since starting his classes in 2003, Hong Ruitai has taught a group of outstanding alumni who have made significant profits, as featured in financial magazines. Many students have had their lives transformed — some immigrated to Australia, achieved financial freedom, and even a milling machine technician from an iron factory has been enthusiastically investing globally.

討論區是本班一大瑰寶,巴菲特班從投資台股到征戰全世界,全是同學群策群力,樂於分享的結果。學投資除了上課聽講之外,平常實際操作的過程中必有很多疑惑產生,跟同好討論是很重要的方法。本班同學高手如雲,共同研究,進步一日千里。

The discussion forum is a great treasure of our class. From investing in Taiwan stocks to conquering the global market, the Buffett class’s success is the result of students working together and happily sharing their insights. Learning to invest isn’t just about attending lectures — countless questions arise during hands-on practice, and discussing them with like-minded peers is an essential approach. Our class is filled with experts who study together and make rapid progress every day.

來投資全世界吧!到世界各地買最好的公司。只要開個美股帳戶就可以買到全世界股票,世界最好的公司都到美國發行ADR,台積電即有ADR。

Invest globally ! Buy shares in the world’s best companies. With just a U.S. stock account, you can buy stocks from around the world. The world’s top companies all issue ADRs in the U.S., and TSMC even has an ADR.

投資美股不用懂英文,只要會看盈再表就好。美國公司我們還比較熟悉,可口可樂都喝過吧,可是中碳喝過嗎?一定沒有!

Investing in U.S. stocks doesn’t require English — you just need to know how to read the On’s Table. We’re generally more familiar with American companies; after all, everyone has drunk Coca-Cola, but have you ever heard of China Steel Chemical ? Probably not !

投資美股將眼界大開,談論的均為世界級公司。當賓士汽車的股東比較好呢還是裕隆汽車?

Investing in U.S. stocks will broaden your horizons, as you’ll be dealing with world-class companies. Which would you rather be a shareholder of: Mercedes-Benz or Yulon Motor ?

投資美股還可以規避匯率風險。這幾年貨幣貶值很可怕,俄國盧布、巴西里耳,甚至英鎊都貶值5成以上,一輩子努力的成果一夕之間少掉一半,有必要把匯率風險避掉。

Investing in U.S. stocks can also help you avoid currency exchange risk. In recent years, currency devaluation has been severe — the Russian ruble, Brazilian real, and even the British pound have all lost more than 50% of their value. A lifetime of hard work can be cut in half overnight, so it’s essential to manage and hedge against exchange rate risks.

若覺得前途茫茫,投資美股是一條最立即可行的出路。在各國股市都能賺到錢就不會被困在一隅,從此自由自在。

If the future feels uncertain, investing in U.S. stocks offers one of the quickest and most practical ways forward. Once you can profit from markets around the world, you’ll no longer be limited by geography — and can enjoy true financial freedom.

討論區公開給大眾瀏覽,發言僅限本班同學。 
[洽詢專線] 0918-519-606,mikeon88@gmail.com

[班規] 發言涉及人身攻擊情節重大者,將直接開除,中止其在本班一切權利。討論區如同教室需要維持秩序,否則將劣幣驅逐良幣。禁止語言霸凌,凡事公開透明,不吝褒揚感謝同學貢獻,本討論區才得以形成同學樂於分享的風氣。

感謝青含國、鄭仁壽、范世琦三位律師,尤其青含國律師專業且富正義感,推薦給大家。

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