Studying on the Value of Buffett's Strategic Investment and Its Application in Chinese Securities Market

The value of Buffett's strategic investment consists of strategic investment theory and its principles and the value of investment behaviors. The theory of strategic investment mainly includes near zero risk theory, the theory of intensive investment combination and that of effective market. Strategic investment principles refer to the principles of enterprise, management, financial operation and market. The value of investment behavior includes 5 items of investment logic, 12 items of investment keys, 8 items of selecting stock principles, and 2 items of investment ways. In view of Buffett's strategic investment value, the paper holds the strategic investment adapting to the situations of Chinese securities market should adopt a short or middle term investment value.