![[IMG_4090.jpg|403]] ### 最好的投资，早已藏在你的生活里 传奇基金经理彼得·林奇有一个著名的投资哲学：最好的投资灵感，往往就藏在日常生活里。他曾讲过一个有趣的故事——正是因为注意到妻子买了一条新款裤子，他开始关注背后的品牌，最终发现了一个绝佳的投资机会。回想起来，我自己生活中一直在用而从没有想过要换的产品，其实都是不错的投资标的。 --- #### 苹果公司（AAPL） 我的第一台笔记本电脑是一台苹果 iBook，购于2004年，彼时我正在清华大学读大四，花费约1,200美元。那个年代，Windows XP 是绝对的主流——我是学校里最早一批 Mac 用户之一，放眼全国，也算得上是较早的尝鲜者。此后二十余年，我和家人从未离开过苹果生态。iPod、iPhone、iPad、iMac、AirPods……苹果的产品一直是我们家的首选。 >AAPL 从2004年至2026年的年化总回报率为 **35.97%**。当年那1,200美元，如果买入苹果股票，今天将价值 **118万美元**。至于那台 iBook 的"遗骸"——多年前被我两岁的儿子兴高采烈地拆了个七零八落，残骸化作一张珍贵的照片，至今还摆在他的书架上。 --- #### 好市多（COST） 2010年6月，抵美做博士后仅三个月，我便办了好市多会员，此后从未动过取消的念头。山姆会员店的邀请函经常寄到我的邮箱，但我都没细看。好市多执行会员的2%返现每年都会寄来一张约250美元的支票，由此推算，我家每年在好市多的花销大约为12,000美元，包含加油平均每月约1,000美元。 >COST 从2010年至2026年的年化总回报率为 **20.98%**。若在办理会员之初，将一个月的生活采购预算——1,000美元——投入好市多股票，今天将价值 **23,000美元**。 --- #### 谷歌（GOOGL） 2008年，我注册了 Gmail，此后一直作为主要的个人邮箱沿用至今。在日常生活中，谷歌就等于信息本身——至少在 GPT 时代到来之前是如此。多年来，谷歌的雄心与广度令我屡屡折服：谷歌地球、 玩星际的AlphaStar (DeepMind)、波士顿动力的机器狗，乃至与学术界合作完成的果蝇（_Drosophila_）神经连接组自动化图谱绘制。众多的产品以免费的形式开放给公众，也可见谷歌的慷慨。如今，我订阅了 Gemini 作为家庭默认 AI 助手，每年费用为79.99美元。 >GOOGL 从2008年至2026年的年化总回报率为 **31.24%**。即便仅将一年的订阅费——79.99美元——在当初投入谷歌股票，今天也将增值至约 **2,200美元**。 --- #### GEICO（BRK.B） GEICO 是我在美国的第一家车险公司，原因很简单：他们是为数不多愿意承保实习司机的保险公司——当然，保费也相应偏高。2010年，我的第一份六个月保单费用为1,800美元。彼时，只要你是伯克希尔·哈撒韦的股东，GEICO 就提供8%的折扣，哪怕只持有一股。正是这个细节，让我第一次知道 GEICO 归巴菲特的伯克希尔所有——也由此逐渐了解到，这家低成本保险公司所产生的浮存金，正是伯克希尔庞大帝国的基石之一。我曾短暂尝试过另一家保险公司Liberty Mutual，但不久还是又回到了 GEICO。界面简洁，条款公道，新冠疫情期间主动为减少出行的客户返还保费，长期安全驾驶记录还享有事故豁免。GEICO没有什么让人好挑剔的地方。 >GEICO的母公司BRK.B 从2010年至2026年的年化总回报率为 **12.75%**。若当年那1,800美元保费转而买入 BRK.B 股票，今天将价值 **13,000美元**，增长为7倍。 --- #### 盈透证券（IBKR） 辗转尝试过多家券商之后，我于2019年最终选择了盈透证券，之后再无换平台的念头。盈透平台现在已深度嵌入，难以割舍。它有高度可定制且熟悉的操作界面、算法交易与 API 接入、广泛的国际市场覆盖，以及极具竞争力的组合保证金利率。以现在的交易量估算，我每年要向盈透支付约为8,000美元的交易佣金。 >IBKR 从2019年至2026年的年化总回报率为 **29.66%**。若将现在一年的佣金——8,000美元——在建立账户之初投入 IBKR 股票，今天将价值 **55,000美元**。 --- English version， 6/2/2026 ### The Best Investments Were Already in Your Life Peter Lynch had a famous investment philosophy: the best investment ideas are often hidden in everyday life. He once told an interesting story: after noticing that his wife had bought a new pair of pants, he became curious about the brand behind it. That curiosity eventually led him to discover an outstanding investment opportunity. Looking back, many of the products I have used for years without ever considering switching to an alternative would probably have made excellent investments as well. #### Apple (AAPL) My first laptop was an Apple iBook, purchased in 2004 during my senior year at Tsinghua University for around $1,200. At the time, Windows XP was the overwhelming default — I was among the first wave of Mac users at the school, and arguably among the first in China. In the twenty-plus years since, neither I nor my family have ever left the Apple ecosystem. The products have always been the premium choice: iPod, iPhone, iPad, iMac, Airpods, and everything in between. >AAPL's annualized total return from 2004 to 2026 is **35.97%**. That original $1,200 purchase, had it gone into AAPL stock rather than hardware, would be worth **$1.18 million** today. As for the iBook itself — its remaining body was gleefully disassembled by my two-year-old son, and the wreckage lives on as a memorable photo on his shelf. --- #### Costco (COST) I became a Costco member in June 2010, three months after arriving in the US for my postdoc. It has never once crossed my mind to cancel. Sam's Club sent invitation packages to my mailbox — I didn't bother. My Executive membership 2% rebate reliably delivers a ~$250 check each year, which implies my family consistently spends roughly $12,000 annually at Costco, or about $1,000 a month including the gas. >COST's annualized total return from 2010 to 2026 is **20.98%**. A single month's grocery budget — $1,000 — invested in COST at the time of my first membership would be worth **$23,000** today. --- #### Google (GOOGL) I registered my Gmail account in 2008 and have used it as my primary personal email ever since. In daily life, Google simply _was_ information — at least in the pre-GPT era. Over the years, the breadth of Google's ambition consistently impressed me: Google Earth, AlphaStar/DeepMind, Boston Dynamics, and also the automatic tracing and segregation of the _Drosophila_ connectome data. Many of the products are offered for free, speaking to its generosity. Today I subscribe to Gemini as the default AI assistant for my household at $79.99 per year. >GOOGL's annualized total return from 2008 to 2026 is **31.24%**. Even a single year's subscription cost — $79.99 — invested in GOOGL at inception would be worth approximately **$2,200** today. --- #### GEICO (BRK.B) GEICO was my first US car insurer, simply because they were one of the few willing to insure a driver with a learner's permit — at an elevated premium, naturally. My first six-month policy in 2010 cost $1,800. At the time, GEICO offered an 8% discount to any Berkshire Hathaway shareholder, even one holding a single share. That detail was my introduction to the fact that GEICO was Berkshire-owned — and eventually I also learned that the low-cost float from this insurer sits at the very foundation of the Berkshire empire. I briefly experimented with Liberty Mutual but returned to GEICO without a second thought. The interface is clean, the policies are fair, they issued proactive credits for reduced driving during COVID, and long-term safe drivers receive accident forgiveness. There's simply nothing wrong with it. >BRK.B's annualized total return from 2010 to 2026 is **12.75%**. That first $1,800 premium, invested in BRK.B rather than paid to GEICO, would be worth **$13,000** today — a 7x return. --- #### Interactive brokers (IBKR) After cycling through multiple brokerages, I settled on Interactive Brokers in 2019 and have no intention of changing. The advantages are deeply embedded and I cannot part with it: a fully customizable interface I know intimately, algorithmic trading and API access, broad international market reach, and portfolio margin at a competitive margin rate. Given my trading volume, I likely pay roughly $8,000 in transaction fees to IBKR annually. >IBKR's annualized total return from 2019 to 2026 is **29.66%**. One year of commissions — $8,000 — invested in IBKR stock at the start of my relationship with them would be worth **$55,000** today.