Benfen Capital exists to preserve and compound wealth across generations — slowly, rationally, honorably, and with deep alignment between partners.
We treat every investment as if we were buying the entire business and holding it for many years. We aim to compound wealth not through cleverness, trading, or prediction, but through long-term partnership with exceptional companies run by capable, honest, rational managers.
We do not have "clients." We have partners.
Our partners entrust us not just with capital but with hopes for their families and future generations. We treat that responsibility with humility and gratitude. We manage our own wealth alongside yours. When you prosper, we prosper.
Every action begins with the question: "What would a rational, long-term business owner do?" Our default action is often inaction, until the right opportunity appears.
We openly acknowledge the limits of our knowledge. We remain students for life.
Decisions grounded in evidence rather than emotion.
Time is the friend of a wonderful business.
Doing the right thing and doing things right.
We believe in capitalism that benefits all participants. Our preferred investments are businesses that:
The biggest risk in investing is not knowing what you're doing.
Durable moats, pricing power, exceptional management, high returns on capital.
Buy when the price is plainly below conservative intrinsic value.
Markets fluctuate. Businesses compound. We focus on the latter.
End of Owner's Manual
Back to Home本分资本的使命是跨代保护并复利财富——缓慢地、理性地、诚实地，并与合伙人深度利益一致。
我们对待每一项投资都如同购买整个企业并持有多年。我们的目标不是通过聪明、交易或预测来复利财富，而是通过与由能力卓越、诚实、理性的管理者经营的优秀公司建立长期合作关系。
我们没有"客户"。我们有合伙人。
我们的合伙人托付给我们的不仅是资本，还有他们对家庭和后代的希望。我们以谦卑和感激之心对待这份责任。我们将自己的财富与您的财富一起管理。当您繁荣时，我们也繁荣。
每一个行动都始于这个问题："一个理性的、长期的企业所有者会怎么做？" 我们的默认行动通常是不行动，直到合适的机会出现。
我们公开承认我们知识的局限性。我们终生保持学习。
基于证据而非情绪做决定。
时间是优秀企业的朋友。
做对的事情，把事情做对。
我们相信让所有参与者受益的资本主义。我们偏好的投资是这样的企业：
投资最大的风险是不知道自己在做什么。
持久的护城河、定价权、卓越的管理、高资本回报率。
只在价格明显低于保守内在价值时买入。
市场波动。企业复利。我们专注于后者。
投资者手册结束
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