“买者自负”是证券交易中的一个基本原则,是市场参与者的行为准则之一。法院可以适用“买者自负”原则进行案件裁判,但要注意考查投资者经验、相关人信息披露、相同市场条件以及监管行为正当性等条件。同时,为更好地发挥该原则的审判准则功能,有必要从立法和司法层面,推动“买者自负”原则的法制化。 “Buyer ” is a basic principle in the securities transaction, is one of the market participants’ code of conduct. The court may apply the principle of “buyer ” to judge the case, but should pay attention to examine the investor experience, information disclosure of relevant persons, the same market conditions and regulatory conditions such as the legitimacy. At the same time, in order to give full play to the function of the trial principle of the principle, it is necessary to promote the legalization of the principle of “buyer ’s self ” from the legislative and judicial levels.