# 《纳瓦尔宝典》 A podcast by James-Lu. 这是一档围绕纳瓦尔思想展开的认知型播客。 我们谈财富、判断、自由、杠杆，也谈如何在复杂世界里做出更好的选择。希望通过一本书、一段访谈、一个观点，把那些真正影响人生和投资结果的底层逻辑，慢慢拆清楚。 这里不追逐短期答案，更关注如何建立自己的判断系统，提高认知，理解周期，也理解自己。 如果你也在寻找一套更适合自己的投资与人生决策框架，希望这里能成为一个长期同行、彼此启发的地方。 Feed: https://feed.xyzfm.space/ummtvgv69x6e ## Latest episodes - [印钞机真的重启了吗？拆解 Arthur Hayes 的流动性赌局](https://invisiblenetwork.ai/podcast/1682250529/bfcb20121d83) (2026-10-26, 13 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ad8bdb0ef67611cac7a1687/media.xyzcdn.net/60ee2ad293495922b0879c0c/lnN2hD7RQw12TKmJd8tHEm_uGUhq.m4a - [别再追播放量：真正能变现的内容，只服务对的人](https://invisiblenetwork.ai/podcast/1682250529/08ad5d8f7b12) (2026-10-25, 13 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ad8a92aef67611cac7a0b4a/media.xyzcdn.net/60ee2ad293495922b0879c0c/lqBvHQBm3W8ELuNiQCDaSlT2M31l.m4a - [当感到市场煎熬时，重温24年前彼得·林奇的对话](https://invisiblenetwork.ai/podcast/1682250529/9068a6862eda) (2026-10-22, 13 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ada070297726cd467562a1e/media.xyzcdn.net/60ee2ad293495922b0879c0c/ltT1tyzqAvpNUq2aUVIyK5xF0Ii8.m4a - [不是交易所：Hyperliquid 想成为金融的互联网？](https://invisiblenetwork.ai/podcast/1682250529/c3807ef070fd) (2026-10-21, 12 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ad47483641ef406308d5b14/media.xyzcdn.net/60ee2ad293495922b0879c0c/ll14XZSUzE3KuYclal_yQz9WNDzI.m4a - [AI 正在重写收入：谁会被留下，谁会被放大？](https://invisiblenetwork.ai/podcast/1682250529/243cf4510e61) (2026-10-20, 8 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ad4669a0e4e410a05be8e21/media.xyzcdn.net/60ee2ad293495922b0879c0c/lgZrzd5VqAJGdDArAXv81326Ad7K.m4a - [普通人如何从“只拿工资”走到“拥有资产”？](https://invisiblenetwork.ai/podcast/1682250529/e3cf174e7468) (2026-10-19, 8 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ad465ef641ef406308d560e/media.xyzcdn.net/60ee2ad293495922b0879c0c/lkM1z3_0B8dsShjVv7BJ5PWvwbjH.m4a - [工资刚到账，为什么你又快没钱了？](https://invisiblenetwork.ai/podcast/1682250529/e8b5d6b178b7) (2026-10-18, 8 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ad4657b641ef406308d55e7/media.xyzcdn.net/60ee2ad293495922b0879c0c/lnwCeCmaENECW4kWq7P2iXBljQtR.m4a - [英文采访 Hyperliquid TOKEN2049 Singapore 2026](https://invisiblenetwork.ai/podcast/1682250529/7e8c450aa0a1) (2026-10-18, 37 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ad461a7641ef406308d54bf/media.xyzcdn.net/60ee2ad293495922b0879c0c/ltfj-93V60Qmlq9eaHFsk6znxp5J.m4a - [别急着说服我：越想赢，越失去影响力](https://invisiblenetwork.ai/podcast/1682250529/60c0635adeee) (2026-10-15, 13 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ac78db5e742e36efcbfe44f/media.xyzcdn.net/60ee2ad293495922b0879c0c/lm5mnAhd5qH9wgHaTfj8WOnqnkVP.m4a - [别再讨好所有人：把小众做成事业](https://invisiblenetwork.ai/podcast/1682250529/514f8a1b26cc) (2026-10-14, 14 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ac78ccbe742e36efcbfe3ef/media.xyzcdn.net/60ee2ad293495922b0879c0c/ltQmsndcjayO7di9NNA0xUImfKfz.m4a - [当基金都在谈 AI 和比特币｜普通人该先拥有哪一种杠杆](https://invisiblenetwork.ai/podcast/1682250529/d669c0232d0a) (2026-10-13, 15 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ac789b7195d838e2aeecbb2/media.xyzcdn.net/60ee2ad293495922b0879c0c/lh4CfZ2JBDW02-DpYqjIkHry_Cm3.m4a - [纳瓦尔谈组织｜一个机构开始奖励姿态时，它已经在失去能力](https://invisiblenetwork.ai/podcast/1682250529/8f91faffb553) (2026-10-12, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ac7879f195d838e2aeecace/media.xyzcdn.net/60ee2ad293495922b0879c0c/lvH8TiMrhA_ODBkVBHh21PE3R1v1.m4a - [纳瓦尔谈人生｜回头看时，你会庆幸没有选那条容易的路](https://invisiblenetwork.ai/podcast/1682250529/c83924117c0b) (2026-10-11, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ac7861e195d838e2aeeca2f/media.xyzcdn.net/60ee2ad293495922b0879c0c/ljOfVcACdJev2IKKw5CAu9ITE-1n.m4a - [纳瓦尔说自由｜金·卡戴珊娱乐女王终于学会了自由](https://invisiblenetwork.ai/podcast/1682250529/13f64c934c60) (2026-10-11, 15 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6acb67bc195d838e2af02935/media.xyzcdn.net/60ee2ad293495922b0879c0c/lpZbIoHnr1oPfym4U2d3FMB9rTTh.m4a - [模型会吃掉软件，谁还能留下护城河？](https://invisiblenetwork.ai/podcast/1682250529/0b9dea30d9db) (2026-10-09, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ac62627195d838e2aee3546/media.xyzcdn.net/60ee2ad293495922b0879c0c/lkuLDDKcN5XlfbatxNB5Gh34teWn.m4a - [AI 与财富｜当认知变便宜，什么才是你的资产](https://invisiblenetwork.ai/podcast/1682250529/8c803bb89114) (2026-10-08, 10 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ac61aa2e742e36efcbf4939/media.xyzcdn.net/60ee2ad293495922b0879c0c/lnKKJ4TS9q3-LkviF45XHBTP8G6o.m4a - [如果你能掌控波动性，就能掌控金钱。](https://invisiblenetwork.ai/podcast/1682250529/2b7c1d03d603) (2026-10-07, 13 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ab8e5c4e742e36efcbbb9c4/media.xyzcdn.net/60ee2ad293495922b0879c0c/llNUg6M4Bapc7l7f93ex_zIIhGrP.m4a - [AI 对 AI 的时代，别把你的判断交出去](https://invisiblenetwork.ai/podcast/1682250529/7ef9845181fe) (2026-10-01, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ab8d22ae742e36efcbbb361/media.xyzcdn.net/60ee2ad293495922b0879c0c/lrDJpjLlHAIYOR7MHkdQn8WueHTl.m4a - [AI 出事谁负责？自动化赚的钱，风险由谁买单](https://invisiblenetwork.ai/podcast/1682250529/f9c8de50fdb4) (2026-09-30, 10 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ab8d199e742e36efcbbb329/media.xyzcdn.net/60ee2ad293495922b0879c0c/ljy-zqkxYYMd2VUPpe5d3UGVf2wu.m4a - [AI 是火还是核武器？关键看它拿到了什么权限](https://invisiblenetwork.ai/podcast/1682250529/a3cb0616595e) (2026-09-29, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ab8d129195d838e2aea9729/media.xyzcdn.net/60ee2ad293495922b0879c0c/lnLqc-Sx__NWz5TPAjji8CifoAz6.m4a - [AI 不会停下，真正危险的是谁握着你的钥匙](https://invisiblenetwork.ai/podcast/1682250529/0b1144d8b325) (2026-09-28, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6ab8d064e742e36efcbbb26b/media.xyzcdn.net/60ee2ad293495922b0879c0c/lilC0boHSN9WdkVRUogTlSgjyGve.m4a - [世界越嘈杂｜越要把自由留在生活里](https://invisiblenetwork.ai/podcast/1682250529/961855607df5) (2026-09-27, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aae32ee0916f6f8b445b08e/media.xyzcdn.net/60ee2ad293495922b0879c0c/ljdaGop2FT_vYkF9KzeJOmY8wmwt.m4a - [当战争叙事进入银行 App｜普通人真正该准备什么](https://invisiblenetwork.ai/podcast/1682250529/c7f4af030274) (2026-09-23, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aae3269ac389df827343091/media.xyzcdn.net/60ee2ad293495922b0879c0c/liv31H7x8sfgsV-kxIIgyFP99sZn.m4a - [末日预言盯上账户｜听完这场访谈，先别急着恐慌](https://invisiblenetwork.ai/podcast/1682250529/e76023923f6b) (2026-09-22, 9 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aae226fac389df827342ac2/media.xyzcdn.net/60ee2ad293495922b0879c0c/lloWyBCEQJj0gblV4aQIMiuRPfkn.m4a - [1 万股 QQQI，真的能原地退休吗？14% 分配从哪来，跟 QQQ 差在哪](https://invisiblenetwork.ai/podcast/1682250529/39bbf595b878) (2026-09-21, 16 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aadf6430916f6f8b4459b5c/media.xyzcdn.net/60ee2ad293495922b0879c0c/ltMJHfHSRNXrWv73rQm_71i7WMO5.m4a - [纳瓦尔谈 AI 锁定游戏｜所有人都在狂奔时，怎样把自由留在手里](https://invisiblenetwork.ai/podcast/1682250529/464ea833e9e0) (2026-09-20, 13 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aaa9c609d326477816a3309/media.xyzcdn.net/60ee2ad293495922b0879c0c/lmSiT5x2M0hEajumQsinb9qM0O7H.m4a - [纳瓦尔的 Frontier Lab 飞轮｜AI 学会天才以后，普通人靠什么留下位置](https://invisiblenetwork.ai/podcast/1682250529/71efa393ebad) (2026-09-17, 12 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aaa915b051af796b9e93843/media.xyzcdn.net/60ee2ad293495922b0879c0c/loz4RN9Ww4-iMG2Pb04YgWKBjy5j.m4a - [纳瓦尔谈 AI 吞噬互联网｜当所有人都会表达，你的判断才开始值钱](https://invisiblenetwork.ai/podcast/1682250529/55687c200be2) (2026-09-16, 11 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aa94997051af796b9e8aecf/media.xyzcdn.net/60ee2ad293495922b0879c0c/lowQ2MnF_hn1tTsA42PzGXtSXSfa.m4a - [纳瓦尔的视角：看苹果下一个十年](https://invisiblenetwork.ai/podcast/1682250529/465b0a8c70cf) (2026-09-15, 11 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aa95312051af796b9e8b481/media.xyzcdn.net/60ee2ad293495922b0879c0c/ltPc1c7dW5_kVa_BsEiDZEYfKMg3.m4a - [当 AI 让所有人都能生产，为什么注意力和信任越来越值钱](https://invisiblenetwork.ai/podcast/1682250529/a207d39752fe) (2026-09-14, 13 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aa52409492687f6aad8cbf8/media.xyzcdn.net/60ee2ad293495922b0879c0c/lhzgbgOAmxl8QdaZnhHl8vXoWDA4.m4a - [你以为你在追求财富，其实你在追求选择权](https://invisiblenetwork.ai/podcast/1682250529/a827fe84cd65) (2026-09-13, 12 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aa5184d9d3264778167fd2a/media.xyzcdn.net/60ee2ad293495922b0879c0c/ln0jBgo_q1nGRXyUE3veI3Y13a7l.m4a - [为什么“懂人”是 AI 时代的元技能](https://invisiblenetwork.ai/podcast/1682250529/b8ee3e9c9a1c) (2026-09-12, 13 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6aa4fda49d3264778167f43e/media.xyzcdn.net/60ee2ad293495922b0879c0c/lp7cxULQFovs0Yf9Ah7q1t85eNPK.m4a - [把自己放回投资里08｜Long-Term Games：真正的投资修行，是成为你自己](https://invisiblenetwork.ai/podcast/1682250529/5ea654956242) (2026-09-12, 7 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6a9ff018f03e74ee6b071bb9/media.xyzcdn.net/60ee2ad293495922b0879c0c/Fkbm2iI-LA8oUMySyNm5JbrS7Ykp.m4a - [把自己放回投资里07｜Freedom：财务自由之后，为什么有人反而被账户关住了](https://invisiblenetwork.ai/podcast/1682250529/6ae3e1694244) (2026-09-11, 7 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6a9fef72a0210c197dcf86cd/media.xyzcdn.net/60ee2ad293495922b0879c0c/FjfEF6UFAdWZQ24pPSCpBAj3EmXm.m4a - [把自己放回投资里06｜Desire：你到底想通过这笔投资，修复人生里的什么](https://invisiblenetwork.ai/podcast/1682250529/8319f36f7e79) (2026-09-11, 7 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6a9feeb5f03e74ee6b071b25/media.xyzcdn.net/60ee2ad293495922b0879c0c/Fl7DaqToE1opdbW3GDQ_n_pecR_m.m4a - 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[把自己放回投资里01｜Temperament：聪明人为什么也会在市场里反复犯错](https://invisiblenetwork.ai/podcast/1682250529/6d22d44febe9) (2026-09-08, 7 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6a9feb3af03e74ee6b0719c3/media.xyzcdn.net/60ee2ad293495922b0879c0c/FnrIrKvqAr4FokrAGGZPswhcHKEG.m4a - [把自己放回投资里｜播客序](https://invisiblenetwork.ai/podcast/1682250529/48defd0ae312) (2026-09-08, 8 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6a9fe858f03e74ee6b071889/media.xyzcdn.net/60ee2ad293495922b0879c0c/FqZ4jcebTy8cTaKLDvtQe6x2TLqN.m4a - [AI 时代的猎人 13｜给自己 30 天，切换成 AI 时代的猎人](https://invisiblenetwork.ai/podcast/1682250529/bb65263ec6da) (2026-09-08, 7 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6a9d2c0da0210c197dce4363/media.xyzcdn.net/60ee2ad293495922b0879c0c/Frr8NQV8UYQhtOr6eQnAX3smqRAi.m4a - [AI 时代的猎人 12｜AI 让你更自由，还是只是让你更忙？](https://invisiblenetwork.ai/podcast/1682250529/4914f91c48d6) (2026-09-07, 6 min): audio https://dts-api.xiaoyuzhoufm.com/track/60ee2ad293495922b0879c0c/6a9d2b97a0210c197dce433f/media.xyzcdn.net/60ee2ad293495922b0879c0c/FmF5b9NPP8w5HxVcz2Z2W0svd9aL.m4a - 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