The Education of A Value Investor: The SeventhValue Investing Lecture Given by Mr. Guy Spier

2015年12月20日下午，《价值投资》课程第七次公开讲座于北京大学第二体育馆地下报告厅举行。《价值投资》课程是由成人直播 开设、喜马拉雅资本赞助支持、姜国华教授主持并对全校同学开放的创新性课程，通过邀请嘉宾进行主题讲座的形式展开。在前期公开讲座中，喜马拉雅基金董事长李录先生、喜马拉雅基金合伙人常劲先生、中投公司债券与绝对收益投资部总监范华博士、高毅资产管理合伙企业董事长邱国鹭先生、平安保险委托投资部总经理卢安平先生、UCLA Investment Company总裁与投资总监Srinivas Pulavarti先生分别进行了精彩的主题演讲，受到了同学们的一致好评，吸引了诸多业界人士的关注。

The seventh lecture of Value Investing was held on December 20th, at Underground Hall of the Second Gymnasium of Peking University. It was hosted by Professor Guohua Jiang. Funded by Himalaya Capital, Value Investing course is offered by Guanghua School of Management and hosted by Professor Guohua Jiang. This course is intended to teach students the fundamentals of the value approach to investment management, and to expose students to the practical implementation. In previous lectures, Mr. LI Lu (Founder and Chairman of Himalaya Capital), Mr. CHANG Jing (Partner of Himalaya Capital), Ms. FAN Hua (Director of CIC Bond and Absolute Return Department), Mr. QIU Guolu (CEO of Gaoyi Asset Management Corporation), Mr. LU Anping (Director of Ping An Insurance Entrusted Investment Department), and Mr. Srinivas Pulavarti (President and CIO of UCLA Investment Company) gave speeches about value investing, which attracted much attention from both universities and the society.

本次课程邀请Aquamarine Fund管理人Guy Spier进行远程在线演讲。Guy Spier先生曾于2007年6月与Mohnish Pabrai一起竞拍与巴菲特的慈善午餐，并通过在投资决策中使用“一览表”（checklists）而为投资界所知。Guy Spier先生先后从牛津大学和哈佛大学商学院获得学士学位与工商管理硕士，曾担任牛津大学纽约校友会主席。Guy Spier先生是Horasis智库的经济政治评论员，并于2007年起担任Aquamarine Fund管理人。2014年，Guy Spier先生的首本专著《价值投资者的养成》（The Education of A Value Investor）出版，并在全球畅销。

Guy Spier is a Zurich-based investor, and commentator. In June 2007 he made headlines by bidding US$650,100 with Mohnish Pabrai for a charity lunch with Warren Buffett. In 2009 he was featured in The Checklist Manifesto by Atul Gawande, regarding his use of checklists as part of his investment process. Guy manages the Aquamarine Fund, an investment partnership inspired by, and styled after, the original 1950's Buffett partnerships. He is a regular media commentator on economic and political affairs, and serves on the advisory board of Horasis, a Swiss-based think tank founded by Frank-Jürgen Richter, and on the Harvard Business School Alumni Board. From 2001 to 2007, Spier was the President of the Oxford Alumni Association of New York. Guy completed his MBA at the Harvard Business School in 1993 and holds a First Class degree in PPE (Politics, Philosophy and Economics) from Oxford University where he studied at Brasenose College with the British Prime Minister David Cameron. In 2014 he published his first book, ''The Education of a Value Investor'' which is now also published in German and Hebrew. Other languages including Korean are in the pipeline. Spier lives in Zurich with his Mexican-American wife and 3 children. Since 1997, Guy Spier has been the manager of Aquamarine Fund, an investment partnership inspired by the original 1950's Buffett partnerships.

Guy Spier先生首先分享了他个人的价值投资经历、故事与心得体会。接着，他为大家分析了成为一名价值投资者的行为准则。最后，他总结了巴菲特与帕伯莱的投资方法，并给在场的同学们提出了自己的建议。此外，Guy Spier先生还与在场的同学进行了交流，回答了大家关于价值投资阅读与学习中遇到的细节问题。

Mr.Guy Spier first Shared with us his experience, stories and insights about value investing. Then, he talked about how to build a better investment process. Finally, he concluded the Buffett-Pabrai way of value investing, and give the audience his own suggestions. He also answered students’ questions about the detailed method of reading, learning and training as a value investor.

关于成人直播-成人直播室 本科研究生项目：

成人直播 本科研究生项目是成人直播 的品牌项目，以高水平、精品化、国际化为核心特色。项目汇集了海内外最为优秀的年轻学子。在顶尖的师资力量、科学的培养计划、自由的学术氛围和全覆盖交流机会的国际化平台的基础上，成人直播 本科研究生项目还在不断创新与进步，相继推行了“大班授课、小班研讨”、与学院其他项目资源整合等课程改革，鼓励学生追求更为开阔的求学视野与扎实的知识技能，真正实现“创造管理知识、培养商界领袖、推动社会进步”的社会使命。