90% 的财富产生于 50 岁之后！巴菲特谢幕背后：为什么说
字幕摘录
| 时间 | 英文 | 中文 |
|---|---|---|
| 0:00 | Haven't you achieved pretty much everything that you wanted out of life? | 你没有实现你想要的一切吗? |
| 0:05 | Well, the truth is, yes, but I'm looking forward to the tomorrow too. | 事实是 是的 但我也期待着明天 |
| 0:12 | Any regrets? | 有遗憾吗? |
| 0:13 | Well, if you look back, you can always say, I should have done this, but I'd be nuts if | 好吧,如果你回头看,你可以总是说, 我应该这样做, 但我会疯了,如果 |
| 0:23 | I look back on my life and said, you haven't been the luckiest guy imaginable. | 我回顾我的生活,说,你不是 最幸运的人可以想象。 |
| 0:29 | And I will say this, aside from sickness and death, everything I thought was bad at the | 我会说,除了疾病和死亡之外, 所有我原以为是坏的 |
| 0:36 | time has turned out well. | 时间已经好起来。 |
| 0:51 | Warren Buffett, one of the greatest investors of all time and a much admired businessman | 沃伦·巴菲特 有史以来最伟大的投资者之一 也是一位非常受人钦佩的商人 |
| 0:56 | and philanthropist, announced last week that he was stepping down as chairman of the board | 上星期他宣布辞去董事长职务 |
| 1:01 | of Berkshire Hathaway to become chairman of the board emeritus. | 伯克郡的哈萨韦成为董事长 |
展开字幕全文（1165 条）
| 序号 | 英文 | 中文 |
|---|---|---|
| 1 | Haven't you achieved pretty much everything that you wanted out of life? | 你没有实现你想要的一切吗? |
| 2 | Well, the truth is, yes, but I'm looking forward to the tomorrow too. | 事实是 是的 但我也期待着明天 |
| 3 | Any regrets? | 有遗憾吗? |
| 4 | Well, if you look back, you can always say, I should have done this, but I'd be nuts if | 好吧,如果你回头看,你可以总是说, 我应该这样做, 但我会疯了,如果 |
| 5 | I look back on my life and said, you haven't been the luckiest guy imaginable. | 我回顾我的生活,说,你不是 最幸运的人可以想象。 |
| 6 | And I will say this, aside from sickness and death, everything I thought was bad at the | 我会说,除了疾病和死亡之外, 所有我原以为是坏的 |
| 7 | time has turned out well. | 时间已经好起来。 |
| 8 | Warren Buffett, one of the greatest investors of all time and a much admired businessman | 沃伦·巴菲特 有史以来最伟大的投资者之一 也是一位非常受人钦佩的商人 |
| 9 | and philanthropist, announced last week that he was stepping down as chairman of the board | 上星期他宣布辞去董事长职务 |
| 10 | of Berkshire Hathaway to become chairman of the board emeritus. | 伯克郡的哈萨韦成为董事长 |
| 11 | His son, Howard Buffett, will succeed him as chairman of the board. | 他的儿子霍华德·巴菲特将接替他担任董事长. |
| 12 | Buffett announced early in the year that Greg Abel would become CEO. | 巴菲特在年初宣布格雷格·阿贝尔将成为CEO. |
| 13 | In his farewell letter, Buffett said with his gift of common sense, father time always | 巴菲特在告别信里 以他常识的天赋 |
| 14 | wins. | 赢了。 |
| 15 | But he noted at 96 years old and his usual insight, he has been very good to me. | 但他在96岁时注意到 他的常识对我很好 |
| 16 | It is very true. | 这是非常正确的。 |
| 17 | Buffett's financial achievements at Berkshire Hathaway has made him one of the richest people | 巴菲特在伯克郡的财政成就 使他成为最富有的人之一 |
| 18 | in the world, but perhaps more than most admired for his courage, philosophy, wisdom | 他的勇气、哲理、智慧 |
| 19 | and humor, especially his humor. | 还有幽默 尤其是他的幽默 |
| 20 | He has done it all living rather simply in his hometown of Omaha, Nebraska. | 他所做的一切 都只是生活在家乡 内布拉斯加州的奥马哈 |
| 21 | His fame has been global. | 他的名声是全球性的。 |
| 22 | And each year, tens of thousands come from around the world to hear what has become known | 每年,有成千上万人来自世界各地, 听到已知的情况 |
| 23 | as the oracle of Omaha at the capitalist Woodstock. | 作为奥马哈在资本主义伍德斯托克的神谕. |
| 24 | They come for the celebration, but also for the chance they will hear something that will | 他们来参加庆典,但也有机会听到一些会 |
| 25 | make them, yes, better investors, but also perhaps wiser at life. | 让他们,是的,更好的投资者, 但也许更明智的生活。 |
| 26 | Who doesn't want to be richer and a better person? | 谁不想成为更富有更优秀的人呢? |
| 27 | It is not about recommending a stock, but about suggesting a way of doing things. | 问题不在于推荐股票,而在于建议一种做事的方法。 |
| 28 | Warren Buffett is too honest, both with himself and his audience, not to acknowledge some | 沃伦·巴菲特太诚实了 对自己和他的观众来说 都不承认 |
| 29 | failures of a mission and failures of choice. | 任务失败和选择失败 |
| 30 | But there is one fact that stands out. | 但有一个事实很突出。 |
| 31 | He is one of a kind and there is no one on the horizon, no one that is considered the | 他是那种人,在地平线上没有任何人,也没有人被认为是 |
| 32 | next to Warren Buffett. | 旁边是沃伦·巴菲特 |
| 33 | There may be a few with better investment records, but none that combine all his qualities | 也许有少数有更好的投资记录, 但没有一个结合他的所有品质。 |
| 34 | in one person. | 在一个人。 |
| 35 | As we look at a world full of conflict and risk from technology, biology, nuclear and | 当我们看到一个充满冲突和来自技术、生物、核和 |
| 36 | climate, it is a moment to ask what are the essential qualities we need for the future? | 现在该问一下,我们对未来需要哪些基本素质? |
| 37 | We will talk of all the attributes necessary for the future challenges and how we convince | 我们将讨论未来挑战所需的所有属性,以及如何说服 |
| 38 | ourselves to demand the best. | 我们自己要求最好的。 |
| 39 | I've had the very good fortune to know Warren Buffett well and to talk to him often on camera | 我有幸和沃伦·巴菲特很熟 经常用摄像机和他交谈 |
| 40 | and many, many times simply on the phone. | 很多,很多次 只是电话。 |
| 41 | Here is one of those conversations on camera. | 这是其中之一 在镜头。 |
| 42 | It's great to see you. | 很高兴见到你。 |
| 43 | Surely it's great to see you. | 很高兴见到你 |
| 44 | I've been in Omaha and I think I've made, prior to the last week, I've probably made | 我去过奥马哈,我想我做了, 在上周之前,我可能已经做了 |
| 45 | two plane flights in two years, you know, I've been wanting to see my sister. | 两年后有两次飞机飞行 我一直想见我妹妹 |
| 46 | I mean, just at free at last. | 我的意思是,只是在自由 终于。 |
| 47 | You're 91? | 你是91岁? |
| 48 | I'm 91. | 我91岁了 |
| 49 | Good health? | 身体健康吗? |
| 50 | I couldn't be in better health. | 我身体没有好过 |
| 51 | It's a little discouraging to me that my partner in business life, everything else, Charlie | 这让我有点沮丧 我的生意伙伴,其他一切,查理 |
| 52 | Munger is 98. | 芒格尔98岁. |
| 53 | And still going strong? | 还在变强? |
| 54 | I'm still the kid. | 我还是那个孩子 |
| 55 | You have a successor in place? | 你有继任者吗? |
| 56 | We have a successor in place, but he's not warming up. | 我们有一个继任者, 但他没有热身。 |
| 57 | You're not ready to go. | 你还没准备好去 |
| 58 | I'm still on overtime, but I'm out there. | 我还在加班,但我在外面 |
| 59 | You still tap dance to work? | 你还在跳踢踏舞吗? |
| 60 | I tap dance to work, Charlie, and I've never been, I've always been happy in the work, | 我跳踢踏舞去工作,查理, 我从来没有, 我一直快乐在工作, |
| 61 | but I've never been happier. | 但我从未快乐过 |
| 62 | I've got the most interesting, to me, job in the world. | 对我来说,我得到了世界上最有趣的工作 |
| 63 | I've got people you wouldn't believe to support me, it only takes about four or five, it takes | 我有你不会相信的人支持我 只要四、五,就够了 |
| 64 | a village, to a degree, but I've got three people sitting right down within 20 feet, | 一个村庄,有程度,但我有三个人 坐在20英尺之内, |
| 65 | 30 feet. | 三十尺长. |
| 66 | You know, my assistant, Deb Blosonic, the fellow that handles all the trades I tell | 你知道,我的助手,Deb Blosonic, 处理所有交易的家伙,我告诉 |
| 67 | him to do in the morning, and money and billions flow in and out, and he takes care of it all. | 他早上做, 和钱和亿 流进出, 他照顾这一切。 |
| 68 | Mark Mallard, and I've got a chief financial officer, Mark Hamburg, who knows more than | 马克・马拉德,我有一个首席财务官 马克・汉堡, 他知道更多 |
| 69 | most of the finance offices and legal offices and everything else in the world. | 大部分财务办公室和法律办公室 以及世界上其他一切 |
| 70 | And we've all worked together for dozens of years, and we like each other, and everybody | 我们一起工作了几十年 我们彼此喜欢 每个人 |
| 71 | helps me. | 帮我 |
| 72 | Choosing who you work with. | 选择你和谁合作 |
| 73 | It's everything. | 谓一切法. |
| 74 | I mean, no, I'd write a little bit about the annual report, but the choosing what you do | 我的意思是,不,我会写一点点 关于年度报告, 但选择你做什么 |
| 75 | and who you do it with, you're going to, you know, if you're like me, you're going to spend | 和谁你这样做, 你会,你知道, 如果你像我,你会花费 |
| 76 | 70 years or something. | 七十年还是什么的。 |
| 77 | My assistant hasn't worked the whole time with me, but she'll, she went to work for | 我的助手一直没跟我合作 但她会去上班 |
| 78 | Berkshire when she was 17. | 伯克郡17岁时 |
| 79 | And she still looks 17, and now, you know, she'll be with us 50 years, I presume. | 她看起来还是17岁,现在,你知道, 她会和我们在一起50年,我想。 |
| 80 | And they know me forward and backwards, and they accept my eccentricities, they help me. | 他们了解我 接受我的古怪 他们帮助我 |
| 81 | What would they be? | 他们会是什么? |
| 82 | But I would say this, if you take Mark Mallard, I walk in in the morning, or I call him first, | 但我会说,如果你带马克・马拉德, 我早上走进来, 或者我先打电话给他, |
| 83 | and I tell him exactly, I've already done it for the day, I tell him exactly what I | 我告诉他,我已经做了一天, 我告诉他我到底做了什么 |
| 84 | want to do, and he does it all day. | 他整天都这样 |
| 85 | And some days, a good many days, he moves billions of dollars for purchases and sales. | 有些日子,很多日子, 他移动了数十亿美元 用于购买和销售。 |
| 86 | He takes care of all the whole thing. | 他负责整件事 |
| 87 | When do you make those decisions? | 你什么时候决定的? |
| 88 | I think all the time. | 我总想着 |
| 89 | I'm on the clock at Berkshire all the time. | 我常在伯克郡守时 |
| 90 | Walk me through a typical day. | 陪我度过一个典型的日子 |
| 91 | Well, a typical day is I get to work at, well, I get up usually | 嗯,一个典型的一天是 我得到工作,嗯,我起床通常 |
| 92 | at a few minutes before seven, so I can catch, it's the seven o'clock news and network news | 在7点前几分钟,我可以赶上, 这是7点的新闻和网络新闻 |
| 93 | in Omaha, and so I get up a few minutes before that, and sometimes I turn on the network | 在奥马哈,所以我起床 几分钟之前, 有时我打开网络 |
| 94 | news, I always turn on CNBC, and I look at what prices are doing and what's happened | 新闻,我总是打开CNBC, 我看看价格在做什么,发生了什么 |
| 95 | in Europe and what's happened in Japan, and I then about, you know, the market opens | 在欧洲和日本发生的一切, 然后我,你知道,市场打开了 |
| 96 | at our time, 8.30, although we're doing maybe things in Japan or Germany too, but, and I | 虽然我们是在日本或德国做一些事情 但是,我 |
| 97 | call Mark at eight for the market opening at 8.30, and I tell him exactly what to do | 8点打给马克,8点半开市 我告诉他该怎么做 |
| 98 | for the day, and I probably won't change it during the day. | 我可能不会在白天改变 |
| 99 | And it's usually a percentage of something I will say buy or sell, X percent of the trading | 这通常占我所说的买卖的百分比 交易的百分之十 |
| 100 | volume, and I'll give him a list of things. | 我会给他一份清单 |
| 101 | If there's a limit of price, I'd give him the price, and then he does it all day. | 如果有限价的话,我会给他价钱,然后他整天都这样做. |
| 102 | And I don't need to check with him, and he sometimes does billions of dollars worth of | 我不需要跟他查 他有时做价值数十亿的 |
| 103 | business. | 业务。 |
| 104 | He buys the Treasury bills, which we, the last couple of years, we probably bought five | 他买国库券, 我们,在过去的几年, 我们可能买了5 |
| 105 | billion every Monday, and I would guess that we might be the biggest buyer, just week after | 每个星期一有十亿, 我猜我们可能是最大的买家, 就在一周后 |
| 106 | week after week after week. | 一周又一周,一周又一周。 |
| 107 | You made your first investment when you were 11 years old? | 你11岁时第一次投资? |
| 108 | In 1942, 80 years ago, I took $114.75 every penny I'd said, and I bought three shares | 1942年,80年前,我每分钱拿了114.75美元 我买了三股 |
| 109 | of City Service Preferred, and City Service is a pretty well-known name now, in fact, in 1920, | 城市服务首选, 和城市服务是一个相当知名的名字 现在,事实上在1920年, |
| 110 | City Service, I think, was the fourth largest company in the United States in terms of number | 我认为市服务公司是美国第四大公司 |
| 111 | shareholders. | 股东。 |
| 112 | It was a big company, and so it had a preferred stock that was selling at 38, then it started | 是一个大公司,所以它有一个首选股票 在38,然后它开始 |
| 113 | skipping the dividends during the Depression, so it accumulated dividends on it of 60 or 70 bucks, | 在萧条时期跳过股利, 所以它积累了60或70美元的股利, |
| 114 | and of course, it was par value of $100, too, and it was selling at 38. | 当然,它的价值100美元, 它的销售额38。 |
| 115 | And at breakfast one morning, I followed little stocks every day, but then I made my | 早餐的时候,我每天跟随小股票, 但后来我做了我的 |
| 116 | pledge, and I had roughly this amount of money, so I bought three, I don't remember this | 我买了三个,我不记得了 |
| 117 | precisely, but I think I told my dad in the morning, now, let's move, Dad, Pop, I call it, | 没错,不过我想我早上告诉我爸了, 现在,我们走吧,爸爸,爸爸,我叫它, |
| 118 | but let's move, Pop. | 但是我们走吧,爸爸。 |
| 119 | But you felt the thrill of it then? | 但你觉得很兴奋吗? |
| 120 | Oh, I've been reading about it and following it the whole morning. | 哦,我一直在读 关于它和跟踪它整个上午。 |
| 121 | I really had read every book in the Yuma Public Library that was on the stock market. | 我读过所有在股市上的图书 |
| 122 | By 11? | 11岁? |
| 123 | By 11, I'll guarantee you. | 到11点,我保证 |
| 124 | And some of them twice. | 还有一些是两次。 |
| 125 | I started out reading the ones in my dad's office, and I just loved to read. | 我开始看我爸办公室的书 我很喜欢看 |
| 126 | I read other things, too, but I knew more when I was 11 than I know now in terms of | 我也读过其他的东西, 但我知道更多 当我11岁,比我现在知道 |
| 127 | actual mechanics of the stock. | 库存的实际力学。 |
| 128 | I mean, I don't know what happens when I put an order in. | 我不知道我下订单时会怎样 |
| 129 | I mean, it gets in the machinery of the way orders are executed now. | 我的意思是,它进入机器 如何执行命令现在。 |
| 130 | I would know if I sat and worked in a trading room for a day or two, but I don't really | 我会知道,如果我坐和工作 在交易室 一两天,但我不是真的 |
| 131 | know the mechanics as well of what happens when an order is processed today as I did | 也知道我今天处理订单时的机理 |
| 132 | when I was 11. | 我11岁的时候 |
| 133 | What is it you enjoyed the most about it? | 你最喜欢什么? |
| 134 | Because you don't pick stocks, you pick companies. | 因为你不选股票 你选公司 |
| 135 | Yeah, that's it. | 是的,就是这样。 |
| 136 | But when I was 11, I picked stocks. | 但当我11岁的时候 我选了股票 |
| 137 | I had the whole wrong idea. | 我有一个完全错误的想法。 |
| 138 | I was interested in watching stocks, and I thought stocks were things that went up and | 我对看股票感兴趣 我以为股票会上升 |
| 139 | down, and I charted them. | 下来,我绘制了它们。 |
| 140 | I read books on technical analysis. | 我读过关于技术分析的书 |
| 141 | I read Edwards and McGee. | 我读过爱德华兹和麦基 |
| 142 | I think that was the classic then. | 我认为那是当时的经典。 |
| 143 | I mean, hundreds and hundreds and hundreds of pages. | 我的意思是,几百和几百页。 |
| 144 | And I read that whole thing over and over again. | 我一遍又一遍地读了一遍 |
| 145 | And I read Garfield, Rua, and others. | 我读过加菲尔德,鲁阿等人 |
| 146 | I read everything, and I thought the first eight years, I thought the important thing | 我读了所有的东西, 我想头八年,我认为重要的事情 |
| 147 | was to predict what a stock would do and predict the stock market. | 预测股票会做什么 预测股票市场 |
| 148 | And then I read Ben Graham when I was 19 or 20, and I realized that I was doing it exactly | 然后我读了本·格雷厄姆 当我19岁或20岁时, 我意识到我正在这样做 |
| 149 | the wrong way, but it didn't hurt that I had that background and everything. | 错误的方式,但这并不伤害 我拥有的背景和一切。 |
| 150 | And I rejiggered my mind when I read the book, The Intelligent Investor. | 我读到《智慧投资者》时,重新思考了自己的想法。 |
| 151 | And from that point, I never bought another stock. | 从那时起,我再也没有买过股票 |
| 152 | I bought businesses that happened to be publicly traded, but I became an owner of a business. | 我买的生意碰巧是公开交易 但我成了一家企业的主人 |
| 153 | And I did not care whether a stock went up or down the next day or the next week or the | 我不管股票是上还是下 第二天还是下周 |
| 154 | next month or the next year, and I didn't have any idea what it would do. | 下个月或下一年, 我不知道它会做什么。 |
| 155 | I didn't know what the stock market would do, but I knew businesses. | 我不知道股票市场会做什么 但我知道生意 |
| 156 | I knew something. | 我知道一些东西。 |
| 157 | I've asked people about your genius, whatever we describe it. | 我问过别人关于你的天才, 不管我们怎么形容 |
| 158 | No, I mean, I'm a bright guy who's terribly interested in what he does. | 不,我的意思是,我是一个聪明的家伙 谁非常感兴趣 他做什么。 |
| 159 | So I've spent a lifetime doing it. | 所以我花了一辈子时间才这么做 |
| 160 | I've surrounded myself with people that bring out the best in me. | 我已经包围自己的人 带来了我最好的。 |
| 161 | And you don't need to be a genius in what I do. | 你不需要做我的天才 |
| 162 | That's the good thing about it. | 善哉此义. |
| 163 | If I went into physics, a whole lot of other subjects, I'd be an also brand. | 如果我进入物理, 很多其他科目, 我也会成为一个品牌。 |
| 164 | But I am in a game that you don't need. | 但我在一场你不需要的游戏中 |
| 165 | You probably need 120 points of IQ. | 你可能需要120点的智商。 |
| 166 | But 170 doesn't do any better than 120. | 但170没有比120更好的。 |
| 167 | It may do worse, probably do worse, but you don't really need brains. | 可能更糟糕 可能更糟糕 但你不需要脑子 |
| 168 | What do you need? | 你还需要什么? |
| 169 | You need the right orientation. | 你需要正确的方向。 |
| 170 | You know, 90% of the people, I'm pulling the figure out of the air, | 你知道,90%的人, 我拉出数字的空气, |
| 171 | but 90% of the people that buy stocks don't think of them the right way. | 但90%的买股票的人 并不认为他们是正确的方式。 |
| 172 | They think about something they hope goes up next week. | 他们想着一些他们希望下周上台的东西。 |
| 173 | And they think about the market as something they hope goes up. | 他们把市场看作是他们希望的上升。 |
| 174 | And if it's down, they feel worse. | 如果它下来,他们觉得更糟。 |
| 175 | I feel better. | 我感觉好多了。 |
| 176 | And you think about? | 你觉得呢? |
| 177 | What? | 你说什么? |
| 178 | And what do you think? | 你觉得呢? |
| 179 | I think about what the company's going to be worth 10 or 20 years from now. | 我想到公司10年或20年后的价值 |
| 180 | And I hope it goes down when I buy it because I'll buy more. | 我希望我买它的时候会下降 因为我会买更多。 |
| 181 | Do you have a competitive spirit? | 你有竞争精神吗? |
| 182 | Clearly. | 显然 |
| 183 | Well, but you got to be careful about what you compete in. | 但你得小心你竞争什么 |
| 184 | You know, it's a good thing I don't have a competitive spirit in chess or, | 你知道,这是好事 我没有竞争精神 在围棋或, |
| 185 | you know, or football or anything like that. | 足球之类的 |
| 186 | No, no, I just, I'm an observer there. | 不,不,我只是,我是一个观察者在那里。 |
| 187 | I enjoy watching things like that. | 我喜欢看这样的东西。 |
| 188 | But I try to keep my competitive spirit in a game where I can win. | 但我想保持我的竞争精神 在游戏中,我可以赢得。 |
| 189 | Do you have a killer instinct? | 你有杀人本能吗? |
| 190 | Nah, not exactly. | 不,没有。 |
| 191 | I've got and I wouldn't call it a killer instinct, but I do. | 我有,我也不会称之为杀人本能 但我有 |
| 192 | I do know this. | 我知道这一点。 |
| 193 | When I want to do something, I always want to do it big. | 想做点什么的时候,总想做大. |
| 194 | I put my whole net worth in city service preferred, you know, 120 dollars, | 我把我的整个净值 在城市服务, 你知道,120美元, |
| 195 | 114 dollars and 75 cents. | 114美元和75美分 钱 |
| 196 | I put my whole net worth in and I've never since I was well, since that day. | 我把我的整个净值 并且我从来没有 自从我很好,从那天起。 |
| 197 | You know, March 11th, 1942. | 你知道,1942年3月11日。 |
| 198 | I have never had less than 80 percent of my money in American business. | 我在美国的生意上从未有过不到80%的钱 |
| 199 | You can call them stocks. | 你可以叫他们股票。 |
| 200 | Or equities. | 或股票. |
| 201 | But I see them as American business. | 但我认为他们是美国生意 |
| 202 | I've owned a piece of American business for at least 80 percent at all times. | 我拥有的美国生意至少 80%的时间。 |
| 203 | I don't want to own anything else. | 我不想拥有其他东西。 |
| 204 | I want to own a home and, you know, things my family wants and all that. | 我想有一个家,你知道的, 事情我的家人想要的,这一切。 |
| 205 | But owning five homes doesn't mean anything to me because I'm going to be happy in one | 但拥有五间房子对我毫无意义 因为我会幸福的 |
| 206 | home and there's a certain amount of things that go wrong with everything. | 家里和有一定数量的东西 出了问题的一切。 |
| 207 | And if I got two homes, I know I've got more problems and I don't have more happiness. | 如果我有两个家, 我知道我有更多的问题, 我没有更多的幸福。 |
| 208 | What brings you the happiness? | 什么风把你吹来了? |
| 209 | I would have to be honestly say that what makes me happiest is what I'm doing. | 我不得不诚实地说 让我快乐的是我在做什么 |
| 210 | I enjoy two things about it. | 我很喜欢两件事 |
| 211 | One, I know I'll win over time. | 一,我知道我会赢得一段时间。 |
| 212 | That doesn't mean I'll beat everybody else or anything like that. | 那不代表我会打败其他人之类的 |
| 213 | But I mean, the game is very, very, very easy if you have the right | 但是,我的意思是,游戏 非常,非常,非常容易 如果你有权利 |
| 214 | lessons in your mind about what you're buying. | 在你的脑海中学习 你买的东西。 |
| 215 | I'm not buying stocks. | 我不买股票。 |
| 216 | I'm buying pieces of overwhelmingly American business. | 我买的是美国生意 |
| 217 | And I'm happy when that's happy and when that's what I'm doing it. | 我很高兴,当我高兴的时候, 当我这样做的时候。 |
| 218 | I'm happy when stocks are going down. | 我很高兴股票要倒闭了 |
| 219 | I'm happier when stocks are going down because I can buy more of them with the same amount of money. | 我更高兴的是,股票要倒闭了 因为我可以用同样的钱买更多的股票 |
| 220 | I'd be happy if I was a farmer. | 如果我是个农民,我会很高兴。 |
| 221 | I'd want farmland to go down so I could buy more acreage. | 我想让农田倒塌 这样我就可以买更多的亩地了 |
| 222 | It just makes sense. | 这很合理 |
| 223 | And I'll tell you the second thing I really like. | 我会告诉你第二件事 我真的喜欢。 |
| 224 | I like being trusted by people. | 我喜欢被人们信任 |
| 225 | I would rather do what I do with partners | 我宁愿做我对合伙人做的事 |
| 226 | than do it sitting in a room myself, even though I might make more money that way. | 而不是自己坐在房间里 尽管我可能这样赚更多的钱 |
| 227 | You like the idea that people are trusting you with their savings. | 你喜欢人们信任你的储蓄 |
| 228 | Yeah, they just say, look, I've saved money. | 是啊,他们说,你看,我已经省了钱。 |
| 229 | I don't know what to do with it. | 无量劫. |
| 230 | And I trust you. | 我信任你,我还信任你 |
| 231 | And they give it to me and they don't. | 他们把它给我,他们没有。 |
| 232 | Most of them give it to me. | 他们大多是给我的 |
| 233 | I mean, certainly in the original days, but even now to an unusual degree, | 我的意思是,肯定 在最初的日子, 但即使现在 不寻常的程度, |
| 234 | give it to me with the idea that it's for the lifetime. | 把它给我 的想法,这是一辈子。 |
| 235 | And then most of them, I mean, they've done this a long time ago. | 然后,大部分,我的意思是, 他们早就这样做了。 |
| 236 | Most of them give it away when they get through. | 多数人通过时会送人. |
| 237 | They never quit saving. | 他们从不放弃储蓄。 |
| 238 | And of course, I'm sort of their savings machine. | 当然,我是他们的储蓄机器。 |
| 239 | They save it and give it to you. | 他们保存它并把它给你。 |
| 240 | Yeah. | 对 |
| 241 | And then they say, keep it and just keep building it. | 然后他们说,留着它,继续建造它。 |
| 242 | And they don't do it with the idea they're going to retire when they're 65 | 他们不会用65岁退休的想法来做 |
| 243 | and then build great castles or anything like that. | 然后建造大城堡之类的 |
| 244 | They just are basically, a few do. | 他们基本上只是, 少数做。 |
| 245 | I mean, a few spend some money later on. | 我的意思是,几个花一些钱以后。 |
| 246 | But overwhelmingly, if they've been saving | 但绝大多数情况下,如果他们一直在拯救 |
| 247 | when they were 25 and saved a little money and gave it to me, | 当他们25岁, 并节省了一点钱给我, |
| 248 | they're still saving. | 他们还在救人 |
| 249 | There were 11 doctors that we met at Hilltop House. | 我们在山顶楼认识了11名医生 |
| 250 | There was one friend of mine named Bill Angle. | 我有一个朋友叫比尔·昂格尔 |
| 251 | And he was trying to get these other doctors to join with me. | 他想让其他医生加入我 |
| 252 | So I don't know what it was in 1958 or nine. | 所以,我不知道是什么 在1958或9。 |
| 253 | I invited 12 doctors to this dinner at Hilltop House. | 我邀请了12名医生 来山顶大厦吃晚餐 |
| 254 | And he had me come. | 他让我来的 |
| 255 | And he basically said, this is my friend Warren. | 他基本上说 这是我的朋友沃伦 |
| 256 | And if you got any brains, you'll give him some money. | 如果你有脑子,你会给他一些钱。 |
| 257 | And so we spent the evening. | 我们一起过夜 |
| 258 | And these guys were all probably in their low 30s. | 这些人大概都30多岁了 |
| 259 | And 11 of the 12 put in $10,000 each. | 12个人中的11个人每人1万美元 |
| 260 | The 12 said to Bill, he said, well, what happens if we lose our money? | 十二人对比尔说 如果我们输了钱怎么办? |
| 261 | And my friend Bill never forget it. | 我的朋友比尔永远不会忘记的 |
| 262 | He said, well, dummy. | 他说,嗯,傻瓜。 |
| 263 | He says, we'll form another partnership. | 他说,我们会组成另一个伙伴关系。 |
| 264 | That was the guy that didn't invest. | 那是那个没投资的人 |
| 265 | He got reminded of this by the other 11 for the rest of his life. | 他的余生被其他11人提醒了这一点. |
| 266 | And most people stuck with me. | 大多数人都跟着我 |
| 267 | And one of them died in the last year. | 而其中一人于去年去世. |
| 268 | It's a friend of mine, Delia, in 101. | 这是我101年的朋友迪莉娅 |
| 269 | And his name was Stan Tules. | 他叫斯坦·图勒斯 |
| 270 | And he came from a little town, about 300 people near Omaha. | 他来自一个小镇,约300人在奥马哈附近. |
| 271 | And he'd be an ophthalmologist and a super wonderful guy in every way. | 他将成为眼科医生 和超棒的人 |
| 272 | I mean, he helped all those fellow doctors. | 我是说 他帮了那些医生 |
| 273 | And you couldn't find a guy like Stan. | 你找不到像斯坦这样的人 |
| 274 | But two of the other 11, two of them are still alive. | 但另外11人中还有2人还活着. |
| 275 | And the money and the amount of money, I mean, they haven't built. | 钱和钱的数量,我的意思是,他们还没有建造。 |
| 276 | They could have done anything. | 他们可以做任何事情。 |
| 277 | I mean, they could have lived bigger than anybody in Nebraska. | 我的意思是,他们可以 生活比任何人在内布拉斯加州。 |
| 278 | But they went with the lives they liked. | 但是,他们去的生活 他们喜欢。 |
| 279 | And and so have you. | 你也一样 |
| 280 | Yeah. | 对 |
| 281 | So have you. | 你也一样。 |
| 282 | You live in the same house. | 你住在同一间房子里。 |
| 283 | You've lived in. | 你住过 |
| 284 | I've lived in the same house in 1958, 63 or 64 years. | 1958年住过同房,时年63岁或64岁. |
| 285 | Quarter of the life of the country. | 国命四分. |
| 286 | I've lived a quarter of the life of the country in one house. | 我住过四分之一 国家生活在一个房子。 |
| 287 | And I like being five minutes from the office, too. | 我也喜欢离办公室五分钟 |
| 288 | I mean, just think if I had a 35 minute commute. | 我的意思是,想想 如果我有一个35分钟的通勤。 |
| 289 | I've gone to the same office now since January of 62. | 从62年1月起我就去同一个办公室了 |
| 290 | So it's it's been it's it's been 60, 60 years. | 故曰:此经六,六十年矣. |
| 291 | And let's say I say 30 minutes every day and commute now each way. | 假设我每天说30分钟 现在每条路都通勤 |
| 292 | Let me turn to the stockholders letter that you wrote for 2021. | 让我来谈谈你为2021年写的股东信。 |
| 293 | Well, that letter was I started that letter in my head. | 那封信是我从头开始的 |
| 294 | I've already started next year's letter in my head. | 我已经开始写明年的信了 |
| 295 | But I started that letter in my head. | 但我从头开始写那封信 |
| 296 | Because you can begin to see what I know I'm going to write about. | 因为你可以开始看到 我知道我要写什么。 |
| 297 | And then I just have to. | 然后我就不得不这么做 |
| 298 | It keeps forming. | 它不断形成。 |
| 299 | But that isn't a newsletter that comes out, you know, and it's it's | 但这不是一份通讯 出来,你知道,这是 |
| 300 | it's what I want to talk to my. | 我想跟我谈谈 |
| 301 | Well, I was forged originally in terms of my sisters who had probably all their money and | 嗯,我最初的造型 我的姐妹们 他们可能拥有 他们所有的金钱和 |
| 302 | and in Berkshire, they trusted me 60 years ago and they just put it all in. | 在伯克郡 他们60年前信任我 他们把所有东西都放进去了 |
| 303 | And they're very smart. | 他们非常聪明 |
| 304 | My older sister Doris died here recently, but both of them very, very | 我姐姐多丽丝最近死在这里 但两人非常非常非常 |
| 305 | smart and interested in financial matters. | 聪明且对财务感兴趣 |
| 306 | But they're not a nut like me. | 但他们不像我 |
| 307 | And so they got other interests, too. | 他们也有其他兴趣 |
| 308 | And basically, they've had to be all their money and they don't want to hear day to day. | 基本上,他们不得不是所有的钱 他们不想每天听到。 |
| 309 | So you tell them what's happened in the last year. | 所以你告诉他们去年发生了什么 |
| 310 | Once a year, it's like I sit down with them and tell them, | 一年一次,就像我坐下来告诉他们, |
| 311 | you know, here's what might be interesting to you. | 你知道,这是你可能感兴趣的。 |
| 312 | And that's I'm doing that all year in my mind. | 我一年到头都在想这个 |
| 313 | And I'm doing it. | 则我所行. |
| 314 | I've done it. | 我已经做到了。 |
| 315 | You know, I know what I'm going to talk about next year unless | 你知道,我知道我要说什么 明年,除非 |
| 316 | something changes in a dramatic way. | 东西在戏剧性的变化。 |
| 317 | Can you tell me what that is? | 你能告诉我那是什么吗? |
| 318 | No, but I can tell you this. | 不,但我可以告诉你这一点。 |
| 319 | Last night, you know, I went to Music Man and among the people who went with me was my | 昨晚,你知道,我去了音乐人 与我同行的人中,是我的 |
| 320 | friend Carol Loomis. | 朋友卡罗尔卢米斯。 |
| 321 | Carol was 92. | 卡罗尔92岁 |
| 322 | She's a great journalist and a good writer. | 她是一个伟大的记者和优秀的作家. |
| 323 | She starts editing. | 她开始编辑。 |
| 324 | I sent her the report, which I think is perfect. | 我给她寄了报告 我觉得很好 |
| 325 | I sent her the report in usually December and she keeps sending back and she kind of | 我通常在12月给她发了报告 她一直寄回去 她有点 |
| 326 | won't let me send it out without checking to make sure I left it on a comma some place. | 不检查就让我寄出去 以确保我把它留在某个逗号上 |
| 327 | So right up to the end. | 所以直到最后为止。 |
| 328 | But so the report, although it's dated, that report basically was written. | 但是,报告虽然已经过时,但基本上是写出来的。 |
| 329 | Well, it was written in my head for a long time, but it was it was what I thought was | 我脑子里写了很久了,但是我想的就是 |
| 330 | finished probably in December. | 大概在12月结束 |
| 331 | And then Carol tells me there's a lot of work to do. | 然后卡罗尔告诉我有很多工作要做。 |
| 332 | No big investment in 2021 because you didn't see anything that met your requirement. | 2021年没有大投资,因为你没有看到任何符合你要求的东西. |
| 333 | 是啊,我写了报告 人们可以去Berkshire Outway.com 他们可以看到 | |
| 334 | exactly what I think and have thought for 40 some years of each report. | 确切地说,我的想法 和40年来的每份报告。 |
| 335 | But for you to make a big investment, what do you need to know? | 但是要你做大投资,你需要知道什么? |
| 336 | I need to know that I think the Berkshire Outway is going to be worth more money | 我需要知道,我认为 伯克郡的出路 是要去值更多的钱 |
| 337 | someday down the road, not tomorrow. | 有朝一日在路上,不是明天 |
| 338 | I wanted to go down if I'm buying something. | 我想下去,如果我买东西。 |
| 339 | And I would say this. | 我会说这个。 |
| 340 | The world has changed a lot since that report was written, | 自那份报告发表以来,世界发生了很大变化, |
| 341 | but the world changed a lot in 2000, two years ago. | 但两年前2000年世界发生了很大变化 |
| 342 | Just think about it. | 考虑一下 |
| 343 | Because of the pandemic. | 因为大流行。 |
| 344 | The pandemic. | 流行病。 |
| 345 | It's almost exactly two years later. | 差不多是两年之后 |
| 346 | An event happened in two years ago and we didn't know exactly what it was. | 两年前发生了一起事件,我们不知道究竟是什么。 |
| 347 | We didn't know what the financial result would be. | 我们不知道财务结果会怎样 |
| 348 | We didn't know what the financial result was. | 我们不知道财务结果是什么 |
| 349 | You know, I mean, we just didn't know. | 你知道,我的意思是,我们只是不知道。 |
| 350 | But when I wrote my report in February, I didn't know the pandemic was going to hit. | 但当我在2月份写报告时,我并不知道这个流行病会来袭. |
| 351 | A week later, and I didn't know that the American financial system was on the brink of, you know, | 一周后 我不知道美国金融系统即将来临 |
| 352 | chaos a few weeks later. | 几周后混乱不堪 |
| 353 | And if somebody wants to read a great book that just came out, | 如果有人想读一本刚刚出版的书 |
| 354 | it's a sensational book called Trillion Dollar Triage that tells on a day by day basis | 这是一本轰动人心的书,名为《三亿三千元》 每天都在讲述 |
| 355 | what was going on in March that were, in my opinion, Jay Powell. | 我认为,3月份发生的事是Jay Powell。 |
| 356 | He matched Paul Volcker in terms of doing things that needed to be done that day. | 他与保罗·沃尔克(Paul Volcker)在当天需要做的事情上相匹配. |
| 357 | And it's a great day by day report. | 且日报甚妙. |
| 358 | The book just came out a couple days ago. | 书几天前刚出来 |
| 359 | We expect the Fed will raise the rates. | 我们期望美联储会提高利率. |
| 360 | Does it remind you of 1970s? | 它让你想起1970年代? |
| 361 | Everything that happens in the investment world reminds me of something or other. | 投资世界发生的每件事都让我想起了什么 |
| 362 | I mean, every day, if it's a boring day, it reminds me of something. | 我的意思是,每天,如果这是一个无聊的一天, 它让我想起一些东西。 |
| 363 | I mean, but I don't think that way. | 我是说 但我不这么认为 |
| 364 | All I'm trying to do is buy businesses. | 我只是想买些生意 |
| 365 | Let's pretend there is no stock market. | 我们假装没有股票市场 |
| 366 | Let's say I had to buy these privately like you buy a farm, | 我不得不私下买这些 就像你买农场一样 |
| 367 | privately like you buy a department house. | 私自买房子 |
| 368 | They're investments. | 他们是投资。 |
| 369 | So you're looking to say, what can I do with money I've saved to put it away | 所以,你想说,我能做什么 我存的钱,把它收起来 |
| 370 | so I feel good about getting it back later under any circumstances, | 所以我觉得好 以后把它拿回来 在任何情况下, |
| 371 | but not necessarily on a given moment. | 但不一定在某一时刻。 |
| 372 | But if I have a farm, it's going to take me a while. | 但如果我有个农场,那得花点时间 |
| 373 | People would be so much better if they actually didn't have a stock market | 人们如果真的没有股票市场 会好得多 |
| 374 | in terms of buying businesses. | 在购买企业方面。 |
| 375 | But, you know, you made two huge investments recently. | 但是,你知道,你最近做了两个巨大的投资。 |
| 376 | One is Activision. | 一是动视. |
| 377 | No, we have two fellows in the office that each they manage a total about | 不,我们办公室有两名研究员 他们每人管理总共大约 |
| 378 | 30 billion dollars between them, Ted Weisler and Todd Holmes. | 他们之间有300亿美元,泰德·魏斯勒和托德·福尔摩斯. |
| 379 | Two people you chose. | 你选的两个人 |
| 380 | They've been with us for about 10 years each. | 他们都和我们在一起十年了 |
| 381 | They have total authority over the money they invest. | 他们完全有权支配他们投资的资金。 |
| 382 | They're just as independent in buying things as I am. | 他们和我一样独立地买东西 |
| 383 | I mean, if they decide they decide to buy something in a country | 我是说,如果他们决定在一个国家买东西 |
| 384 | I've never heard of in the stock market, they don't they don't ask me. | 我从未听说过股票市场, 他们不问我。 |
| 385 | But are you saying that maybe they were decided to? | 但是,你是说,也许他们 决定? |
| 386 | Well, I've actually said I've actually said that one of those | 好吧,我其实说过,我确实说过其中之一 |
| 387 | I'm sort of very clear. | 我有点明白 |
| 388 | And there's a letter on the on the website that describes exactly | 网站上有一封信 准确描述了 |
| 389 | the circumstances because they got misreported in the press originally. | 因为他们在媒体上被错误报道了 |
| 390 | And so I have written a letter there because actually a number of other | 所以我在那里写了一封信 因为实际上还有其他一些 |
| 391 | first class news organizations picked up a story without checking whether it was true. | 头等新闻组织不检查是否属实就拿起一个故事. |
| 392 | I mean, they ran with it without independently reporting it. | 我的意思是,他们用它运行 没有独立报告。 |
| 393 | So they're one. | 所以他们是一体的 |
| 394 | I'm not going to name names, but there's some names in my letter. | 我不会给名字起名,但信里有些名字. |
| 395 | But they they just ran it wrong, a wrong story, which had implications and so on. | 但他们只是运行错误, 一个错误的故事, 它有影响等等。 |
| 396 | So the letter is up there. | 所以信就在那边 |
| 397 | It's going to stay posted forever because it's the correct record. | 它会永远保持张贴,因为它是正确的记录. |
| 398 | And what happened precisely is that one of the other fellows | 确切的说,是另一个人 |
| 399 | decided to buy Activision, didn't ask me, and it's fine. | 决定买Activision,没有问我,而且没关系。 |
| 400 | I mean, but he bought it. | 我的意思是,但他买的。 |
| 401 | He bought about I think I used a figure of 85 percent. | 他买的,我想我用了85%的数字。 |
| 402 | I think when we double checked it, it was 76 or 7 percent. | 我想当我们两次检查的时候 是76%还是7% |
| 403 | But we'll list every day that he bought it and the price he bought it. | 但我们会每天列出他买的价钱 |
| 404 | And the price was reported as wrong by the press. | 而该价格被媒体报道为错误. |
| 405 | And then it was picked up by a whole bunch of other organizations and printed as wrong. | 后来被一大批其他组织拾得,印刷成错误. |
| 406 | And so millions of people read an incorrect story. | 数百万人读错了故事。 |
| 407 | And so we put up the correct facts and we will we will we'll have at the annual meeting. | 因此,我们提出正确的事实,我们将在年度会议上提出。 |
| 408 | I think I'll have a slide if anybody asked me for it. | 如果有人问我的话,我想我会有一个幻灯片。 |
| 409 | I'm sure every day's purchase is the exact price. | 我敢肯定,每天的购买是确切的价格。 |
| 410 | And that was done by one of the fellows in the office now. | 办公室的一位研究员做了这个 |
| 411 | And that was, like I say, 77 percent was in October and the rest was in early November. | 正如我所说,77%是在10月,其余的是在11月初。 |
| 412 | And he paid this. | 他付了这个 |
| 413 | He paid about seventy seven dollars a share and you can buy it today. | 他付了大约77美元一股,你今天可以买下它。 |
| 414 | And Microsoft announced it. | 而微软也宣布了. |
| 415 | The first story said weeks later, which makes it sound like two or three or four weeks later. | 第一个故事说几周后,这听起来就像两三四个星期后。 |
| 416 | It was probably 12 weeks later. | 可能是12个星期后 |
| 417 | You said months later. | 你说几个月后。 |
| 418 | So the investment was months before Microsoft decided to acquire Activision. | 因此该投资是在微软决定收购Activision之前的几个月. |
| 419 | The other guy liked it as a stock and as a business. | 另一个家伙喜欢它作为股票和生意。 |
| 420 | And so he was buying it and | 所以他买了它, |
| 421 | and he paid an average of, like I said, seventy seven dollars a share. | 他平均付了77美元一股 |
| 422 | And and we will have a list of every day at every price. | 而且我们将有一份每天的列表 以每一个价格。 |
| 423 | And then I guess it was well, the there was a big expose type story run. | 然后我想这是很好的, 有一个大的曝光类型的故事运行。 |
| 424 | And but he wasn't buying during any of that period. | 但他在这段时间里都不买东西 |
| 425 | And then the preliminary proxy came out. | 后来初步代理出炉. |
| 426 | 由Activision决定 已经提交证监会 | |
| 427 | describing the history of the deal as to when Microsoft came to them. | 描述交易的历史,说明微软何时来到他们身边。 |
| 428 | And it was it was sometime in a couple months later that Microsoft first approached | 几个月后,微软公司第一次接近 |
| 429 | Bobby Kodak and then four other people. | 鲍比·柯达和另外四个人 |
| 430 | You can read it also filed with the SEC. | 也可以向证监会备案. |
| 431 | And then after it was announced, the stock, you could buy the stock at seventy eight dollars a share. | 然后在宣布之后,股票, 你可以以每股78美元收购股票。 |
| 432 | So the implication, the first story was that it was somehow that somebody made a great deal by | 所以第一个故事的暗示是 不知何故有人做了很多 |
| 433 | getting tipped off or something. | 得到消息还是什么的。 |
| 434 | Simply one dollar a share after it was announced, | 仅仅一美元一股 宣布后, |
| 435 | higher than one of the other fellows paid for about 15, close to 15 million shares. | 高于其他研究员之一支付约15笔,接近1 500万股。 |
| 436 | He still got it. | 他还在做 |
| 437 | How about Occidental? | 奥西迪安怎么样? |
| 438 | Well, Occidental, a week ago. | 一周前的西雅图 |
| 439 | Well, you know, a couple of years ago, we financed Occidental. | 嗯,你知道,几年前, 我们资助了Occidental。 |
| 440 | And had some warrants coming out of it. | 并得到了一些授权书出来。 |
| 441 | Vicki Hollow, who I never met before. | 维琪·霍洛 我从未见过他 |
| 442 | And I got a call on a Friday and Bank of America saying that that Occidental is | 我星期五接到电话 美国银行说 |
| 443 | 需要一些钱买Anadarko。 | |
| 444 | And I think knowing then they were in competition with Chevron. | 我想当时他们和Chevron在竞争 |
| 445 | And would I meet with them because they needed a lot of money fast. | 我和他们见面是因为他们需要很多钱 |
| 446 | And I said, sure. | 我说,当然 |
| 447 | How about tomorrow? | 明天怎么样? |
| 448 | And went back and forth. | 并前后转. |
| 449 | Turned out they came up Sunday instead of Friday. | 原来他们周日来而不是周五 |
| 450 | And we met at 10 o'clock in my office on Sunday. | 我们星期天10点在我办公室见过面 |
| 451 | And I said, we'll give you 10 billion dollars under these circumstances. | 我说,在这种情况下我们会给你100亿美元。 |
| 452 | And but we'll do it. | 但我们会做到这一点。 |
| 453 | We'll do it tomorrow. | 我们明天再来 |
| 454 | And, you know, that's not Wall Street, but that's Berkshire. | 而且,你知道,这不是华尔街, 但那是伯克郡。 |
| 455 | And so and they knew I was good for it. | 所以,他们知道我是好的。 |
| 456 | And so we made a deal. | 所以我们做了个交易 |
| 457 | Monday night, the next day at night. | 星期一晚上,次日晚上。 |
| 458 | You know, I told our guys, you work all night for Bathworks, all night for them. | 你知道,我告诉了我们的人, 你工作一整夜为浴室工作, 一整夜为他们。 |
| 459 | And we get this thing done on Tuesday. | 我们周二就搞定了 |
| 460 | But is there much negotiation or you simply say this is what I will do? | 但是,有没有很多谈判 或者你只是说,这就是我要做的? |
| 461 | This is what I'll do. | 这就是我要做的。 |
| 462 | I always say that's what I'll do. | 常说此法. |
| 463 | I mean, you know, I've said that's what I'll do many times. | 我的意思是,你知道,我已经说过 我会做很多次。 |
| 464 | And I've always and that is all I'll do. | 我一直都是,这就是我要做的。 |
| 465 | But this is what you have come to represent. | 但这就是你来代表的 |
| 466 | I mean, think of the financial crisis and think of Goldman Sachs and think. | 我的意思是,想想金融危机 想想高盛和思考。 |
| 467 | I said what I do. | 我说我做什么。 |
| 468 | You said what you do, but it gave them credibility when they needed it. | 你说你做什么, 但当他们需要的时候,它给了他们信誉。 |
| 469 | That Warren Buffett and Berkshire Hathaway had decided. | 沃伦·巴菲特和伯克郡·哈瑟韦决定了 |
| 470 | We were we were putting in X billions of dollars. | 我们当时投入了十亿美金 |
| 471 | And when I questioned, we were putting it in. | 当我问起的时候,我们正在放进去 |
| 472 | It wasn't an IOU or the we sent them the cash. | 这不是一个IOU或我们给他们的现金。 |
| 473 | And it was right after Lehman. | 就在雷曼之后 |
| 474 | And and there was a run on the whole economic system. | 整个经济系统都运行了 |
| 475 | Everybody was a domino and the dominoes were falling. | 每个人都是一个多米诺人, 多米诺人正在下降。 |
| 476 | And Goldman Sachs knew they'd be fine if all the dominoes didn't fall. | 还有高曼 萨克斯知道如果所有的多米诺人不掉下来,他们就会好起来的. |
| 477 | And they had to worry about the United States Congress because they were mad at | 他们不得不担心美国国会 因为他们很生气 |
| 478 | really mad at banks. | 对银行很生气 |
| 479 | This time they weren't mad at banks in this particular crisis. | 这次他们不是在这场危机中对银行生气 |
| 480 | But they were mad at banks. | 但他们对银行很生气 |
| 481 | And they really didn't. | 他们真的没有。 |
| 482 | Some of them didn't fully understand what the hell was going to happen. | 其中一些人并没有充分理解到底会发生什么. |
| 483 | And we had that they were mad because this was a financial crisis. | 我们觉得他们很生气 因为这是一场金融危机 |
| 484 | It was more than a financial crisis cubed. | 这不仅仅是一场金融危机。 |
| 485 | But it had an origin in financial institutions. | 但它起源于金融机构。 |
| 486 | A lot of people did a lot of things wrong. | 很多人做了很多错误的事情。 |
| 487 | But there was plenty of it in Wall Street, plenty of it in Wall Street. | 但华尔街有很多,华尔街也有不少. |
| 488 | But there was plenty of it elsewhere, too. | 但其他地方也有很多 |
| 489 | I want to emphasize that. | 我要强调这一点。 |
| 490 | But Wall Street made a lot of money out of doing a lot of things | 但华尔街赚了很多钱 做很多事情 |
| 491 | that contributed to the crisis. | 这导致了危机。 |
| 492 | Here's my point. | 这就是我的观点。 |
| 493 | Berkshire and Warren Buffett emerged to a point where | 伯克郡和沃伦·巴菲特出现的地方 |
| 494 | where your reputation and your credibility. | 你的名声和信誉 |
| 495 | And our money. | 还有我们的钱 |
| 496 | The money was important, but it wasn't a determining factor. | 钱很重要,但不是决定性因素 |
| 497 | They wanted the money. | 他们想要钱。 |
| 498 | But they also wanted credibility. | 但他们也想要信誉。 |
| 499 | They had to have instant credibility. | 他们必须具有即时的可信度。 |
| 500 | And that's what they had. | 这就是他们拥有的。 |
| 501 | They had to have somebody who counted besides people whose position it was to lie. | 他们只好找一个除了撒谎的人之外的人 |
| 502 | And how did you build that? | 你是怎么造出来的? |
| 503 | Which is an essential part of who you are and Berkshire Hathaway. | 这是你和伯克希尔·哈瑟韦的重要一环 |
| 504 | Well, I started on March 11th, 1942. | 我从1942年3月11日开始 |
| 505 | As we talk. | 我们说话的时候 |
| 506 | And I had a father that was the right father. | 我有一个父亲 是正确的父亲。 |
| 507 | Yeah, and I was lucky. | 是啊,我很幸运。 |
| 508 | I think you may have heard this. | 我想你可能听说过这个 |
| 509 | Lenin once said there are decades when nothing happens | 列宁曾说过,有几十年没有发生什么 |
| 510 | and then there are weeks when decades happen. | 然后有几个星期,当几十年发生。 |
| 511 | That's very well put. | 说得好 |
| 512 | And when you're buying businesses, don't call them stocks. | 而购买企业时,不要叫股票. |
| 513 | When you're buying businesses, when you're buying apartment houses, | 当你买东西的时候 当你买公寓的时候 |
| 514 | sometimes you're buying a lot of land, you know, all kinds of things. | 有时候你买了很多土地,你知道, 各种各样的东西。 |
| 515 | There are times when you get a chance to act and do something really intelligent. | 有时候你有机会采取行动 做一些非常聪明的事 |
| 516 | It may happen once every 10 years, once every 20 years. | 它可能每10年发生一次,每20年发生一次. |
| 517 | It depends on what field you're in, where you live, what you know, all of that. | 这取决于你在什么领域, 你住在哪里,你知道的,这一切。 |
| 518 | But most of the important things, there's a lot of foundational work. | 但是,大多数重要的事情,有许多基础性的工作. |
| 519 | But the actual big acts in life are when you propose to your spouse. | 但生活中真正的重大行为是 当你向你的配偶求婚。 |
| 520 | I mean, forget all the other stuff. | 我的意思是,忘了所有其他的东西。 |
| 521 | I mean, if you if you made the right decision | 我的意思是,如果你做出正确的决定 |
| 522 | and you get the right answer from he or she, you're 90% of the way home in life. | 你得到正确的答案 从他或她, 你90%的方式回家的生活。 |
| 523 | But also things happen in the world like the pandemic. | 但世界也会发生类似这种流行病的事情。 |
| 524 | That's true, too. | 亦如是说. |
| 525 | And it can change everything as it did. | 它能改变一切 |
| 526 | Happened in 1929. | 1929年发生. |
| 527 | It happened in 1980. | 1980年发生. |
| 528 | I forget when things were in 1970. | 我忘记1970年的事了 |
| 529 | I mean, when they closed the stock exchange back in 1914 | 我的意思是,当他们关闭 证券交易所回到1914年 |
| 530 | for a long period of time, people don't ever think about that. | 在很长一段时间里,人们从来没有想过这一点。 |
| 531 | 9-11, they closed the stock exchange for a few days. | 9 -11,他们关闭 证券交易所几天。 |
| 532 | And I mean, there are big events in this world. | 我的意思是,这世界上有重大的事件。 |
| 533 | We're going through one of them right now. | 我们现在正经历其中之一。 |
| 534 | Yeah, but I won't get into discussing that particularly. | 是的,但我不会讨论 特别。 |
| 535 | Allow me this. | 让我来 |
| 536 | I mean, this is having a huge effect on the world order. | 这对世界秩序有很大影响 |
| 537 | Yeah, but it doesn't do me any good. | 是啊,但这对我没有任何好处。 |
| 538 | And it doesn't do the world any good for me to talk about it. | 我谈论这件事对这个世界没有任何好处。 |
| 539 | So can we talk about the global economy then, you know, in terms of where we are? | 那么,我们可以谈谈全球经济吗,你知道的, 就我们在哪里? |
| 540 | I can tell you where we are. | 我可以告诉你我们在哪里。 |
| 541 | But let me phrase it this way in terms of the global economy. | 但是,让我用这种措辞来阐述全球经济。 |
| 542 | I mean, you look at the United States. | 我的意思是,你看美国。 |
| 543 | United States is the United States economy. | 美国是美国的经济. |
| 544 | And it's very easy to look at the statistics on it. | 并且非常容易查看有关它的统计数据. |
| 545 | I mean, more people, a greater percentage of the American population | 我的意思是,更多的人, 更高比例的美国人口 |
| 546 | is wealthy now or having more income now than they've ever had. | 或者现在收入比以前多 |
| 547 | And if you look at whether the Bank of America will give you their average deposit, | 如果你看看美国银行是否会给你平均存款 |
| 548 | I mean, you just look at the wealth. | 我的意思是,你只是看 财富。 |
| 549 | And that doesn't mean everybody's wealthy. | 这并不意味着每个人都有钱 |
| 550 | But it does mean relative to any other period of time. | 但这确实意味着相对于任何其他时间段。 |
| 551 | And I mean, people have more money now. | 我的意思是,人们现在有更多的钱。 |
| 552 | They get mortgages at lower rates than they've ever gotten. | 他们的抵押贷款率比以前低 |
| 553 | So if they want to buy a house or something. | 所以如果他们想买房子什么的 |
| 554 | But is that going to continue? | 但还会继续吗? |
| 555 | I mean, what these rates are raising, as you know, we were in an inflationary period. | 我的意思是,这些利率正在提高, 你知道,我们处于一个通货膨胀时期。 |
| 556 | I'm not going to predict them straight for you. | 我不会直接预测你的 |
| 557 | But no, I'm not asking you to predict anything. | 但我不是要你预测任何事 |
| 558 | No, right today, Charlie. | 不,就在今天,查理。 |
| 559 | You live in an environment. | 你生活在一个环境。 |
| 560 | Yeah, you live in an environment where the bottom two percent in terms of income | 是啊,你生活在一个环境 最低的2%的收入 |
| 561 | in the United States, the bottom five percent and for sure the top one percent, | 在美国,最低的5%,肯定的1%, |
| 562 | all live better than John D. Rockefeller was living when I was six years old. | 都比约翰·D·洛克菲勒6岁时的生活要好 |
| 563 | John D. Rockefeller was the richest man in the world. | 约翰·D·洛克菲勒是世界上最富有的人. |
| 564 | And today, you can get better medicine, better education. | 而今天,你可以得到更好的药物,更好的教育. |
| 565 | Better entertainment, better transportation. | 更好的娱乐,更好的交通。 |
| 566 | You can do everything better than he could. | 你能比他做得更好 |
| 567 | You can I mean, it's astounding. | 你可以说,这是惊人的。 |
| 568 | That's in my lifetime that if you want to watch a football game, he still had to go there. | 在我的一生中,如果你想看足球比赛,他仍然必须去那里. |
| 569 | And I can sit there with this big screen and they keep showing me the replay. | 我可以坐在这个大屏幕上 他们不断给我看重播 |
| 570 | So they're explaining to me what happened. | 他们正在向我解释发生了什么 |
| 571 | And maybe everybody doesn't have a screen as big as mine, but damn near everybody | 也许每个人都没有我的大屏幕, 但该死的接近每个人 |
| 572 | has a screen or an iPhone or a computer or access to one. | 拥有屏幕或iPhone或计算机或访问一个。 |
| 573 | And they have access. | 他们可以进入。 |
| 574 | I mean, when I was born, you know, the dentist didn't use Novigate. | 我的意思是,当我出生, 你知道,牙医没有使用诺维盖特。 |
| 575 | So there has been progress, obviously. | 因此,显然取得了进展。 |
| 576 | And nowhere more than in the United States. | 在美国也比不上 |
| 577 | Well, relative to the base, maybe more than I mean. | 嗯,相对于基地,也许更多 比我的意思。 |
| 578 | But there's no country that's done what our country's done in seven. | 但是,没有哪个国家能像我国在七中那样做到. |
| 579 | If you go back three of my lifetimes, you're looking, you know, you've been to. | 如果你回到我这一辈子的三条路 你看着,你知道,你去过 |
| 580 | You know, you're 91. | 你知道,你91岁。 |
| 581 | So it's three lifetimes. | 故为三生. |
| 582 | You are looking at less than one percent of the world's population, | 你只看不到世界人口的1%, |
| 583 | closer to half a one percent, half a one percent of the people in the world | 接近50%, 一半的人在世界上 |
| 584 | are sitting in this land. | 坐在这片土地上 |
| 585 | They don't work harder than people in all the rest of the world. | 他们的工作不比其他世界的人更努力. |
| 586 | I mean, in terms of hours of unpleasant labor, | 我的意思是,在不愉快的劳动时间方面, |
| 587 | everybody's got hours of unpleasant labor in those days, practically. | 那时候每个人都有几个小时的不愉快的劳动,实际上。 |
| 588 | They don't have they don't come laden with gold. | 他们没有金子 |
| 589 | And, you know, they are half of one percent and they work the same hours. | 而且,你知道,他们是 百分之一的一半, 他们工作的时间相同。 |
| 590 | They got the same IQs. | 他们有相同的智商。 |
| 591 | They may be a little self-selected in terms of enterprise, | 他们可能在企业方面有点自选 |
| 592 | in terms of going across oceans and things. | 在跨海洋和事物方面 |
| 593 | And fast forward a couple of lifetimes, and they've got 20 percent plus | 快速前进几生, 他们有20%加 |
| 594 | of all the bounty in the world. | 世界上所有的赏金。 |
| 595 | I mean, that is that is something that has worked like nothing. | 我的意思是,这是的东西 一直没有效果。 |
| 596 | Just imagine that. | 想象一下吧 想象一下 |
| 597 | If you go on to anybody, the Constitutional Congress in 1789, | 如果你去任何人, 宪法国会在1789年, |
| 598 | if you go to any one of the representatives there, | 如果你去那里的任何代表, |
| 599 | and you said, I want to tell you what this place is going to look like, | 你说,我想告诉你 这个地方会是什么样子, |
| 600 | you know, in three more of your lifetimes, | 你知道,再过三生, |
| 601 | your great-great-grandchildren, great-great-grandchildren, | 你的曾孙,曾孙, |
| 602 | yeah, are going to be flying in the skies. | 是啊,将要飞在天空。 |
| 603 | They're going to be watching sports all over the world. | 他们将在世界各地观看体育赛事. |
| 604 | They're going to be entertained. | 将受娱乐. |
| 605 | Their medicine, they can hold you off to a lunatic society. | 他们的药,他们可以阻止你 到一个疯子社会。 |
| 606 | But at the same time, as you know, and you hear this all the time, | 但与此同时,你知道, 你一直听到这一点, |
| 607 | 845 billionaires in America and they have more wealth than the bottom 60 percent. | 美国845个亿万富翁 他们的财富比最底层的60%多 |
| 608 | That's true. | 没错 |
| 609 | That's up to government. | 由政府决定. |
| 610 | Government has a proper place in the capital, believe me. | 相信我,政府在首都有合适的位置 |
| 611 | And government is the rulemaker. | 政府是统治者 |
| 612 | But Henry Ford, by 1922 or three, | 但亨利·福特 到1922年3月 |
| 613 | he was turning out 2 million cars a year. | 他每年有200万辆汽车 |
| 614 | Now, how many could the Ford family use? | 福特家能用多少个? |
| 615 | 30, 40? | 30,40岁? |
| 616 | I don't know. | 师曰. |
| 617 | So 2 million people are getting the benefit of what he's doing. | 所以有200万人从他的行为中获益。 |
| 618 | And he's getting 50 cars and he's getting a whole bunch of little claim checks. | 他得到了50辆汽车, 他得到了一大堆的小 索赔检查。 |
| 619 | Just think of it. | 考虑一下 |
| 620 | Everything. | 一切众生. |
| 621 | When Thomas Edison did all the things he did, you know, he made some money. | 当托马斯·爱迪生做了他做过的一切时 他赚了不少钱 |
| 622 | But I mean, we're using it. | 但是,我的意思是,我们正在使用它。 |
| 623 | It belongs to us and it doesn't. | 它属于我们,它没有。 |
| 624 | If you take what an hour of labor delivered to you 100 years ago | 如果你需要一百年前给你一个小时的劳力 |
| 625 | and what an hour of labor delivers to you now for you and your family, it's unbelievable. | 一小时的劳动能为你 和你的家人带来什么 真是难以置信 |
| 626 | But that's an argument for the forward progress. | 但这是前进进步的论据. |
| 627 | That's an argument. | 即是辩才. |
| 628 | Civilization. | 文明报. |
| 629 | It's an argument for capitalism. | 这是资本主义的争论. |
| 630 | But capitalism, I'm just saying, get rid of a referee and a government. | 但是资本主义,我只是说, 摆脱裁判和政府。 |
| 631 | We've got a government that can tell capitalism what to do. | 我们有一个政府 可以告诉资本主义怎么做。 |
| 632 | Do you think? | 你觉得呢? |
| 633 | They do. | 没错 |
| 634 | And that's just what they should do. | 这就是他们应该做的。 |
| 635 | And they do it in different ways at different times and all kinds of things. | 他们在不同的时间和各种事物中以不同的方式进行. |
| 636 | But I've got this money, which I'll never… | 但我有这笔钱 我永远不会... |
| 637 | But it has value to somebody. | 但它对某人有价值。 |
| 638 | I mean, it's claim checks on future output. | 我的意思是,这是索赔核对 未来的产出。 |
| 639 | The claim checks belong to me. | 报销支票属于我 |
| 640 | So if I want to buy 50 super yachts, I can do it. | 所以,如果我想买50艘超级游艇,我可以做到这一点。 |
| 641 | But what does it mean to me? | 但这对我意味着什么? |
| 642 | It can buy more things for other people that are useful to them. | 它可以为其他人购买更多对他们有用的东西. |
| 643 | And I have everything I want in life. | 我拥有生活中我想要的一切 |
| 644 | You know, everything. | 你知道,所有的东西。 |
| 645 | So it's not evil, but the federal government is the boss in the end. | 所以这不是邪恶,但最终联邦政府是老大. |
| 646 | And they shouldn't screw up capitalism. | 他们不应该破坏资本主义。 |
| 647 | And capitalism shouldn't screw up the federal government. | 资本主义不应该破坏联邦政府 |
| 648 | It's very simple. | 很简单 |
| 649 | But does capitalism need to be reformed itself? | 但是资本主义本身还需要改革吗? |
| 650 | As you know… | 正如你们所知... |
| 651 | It's evolving. | 其进化. |
| 652 | Always. | 永远 |
| 653 | We started in 1789. | 我们从1789年开始。 |
| 654 | We had business and it's gotten far, far, far, unbelievably | 我们有生意,它得到了很远,很远,很远,令人难以置信 |
| 655 | more productive for people. | 更能为人生产. |
| 656 | And the only thing it can do with what it produces is give it to other people. | 它唯一能做的就是把它交给其他人。 |
| 657 | It isn't like the 50 richest guys in the country can say, | 这不像全国五十个有钱人说的 |
| 658 | I'm just going to eat everything. | 直饶一切食. |
| 659 | They're turning out products. | 他们的产品。 |
| 660 | That iPhone that I have, which I'm probably the least capable guy in the world of working with it, | 我拥有的iPhone, 我可能是世界上能力最差的人 |
| 661 | but it makes life better. | 但它使生活变得更好。 |
| 662 | It is the reason that Apple is the richest company in the world. | 这也是苹果公司是世界上最富有的公司的原因. |
| 663 | Yeah. | 对 |
| 664 | And you've had Tim Cook on before. | 而且你之前有蒂姆·库克的节目 |
| 665 | And you can hear as a company that a guy invents something | 作为公司,你可以听到一个人发明的东西 |
| 666 | and all kinds of other smart people do the same thing. | 和各种其他聪明人 做同样的事情。 |
| 667 | Apple, I think, sells less than 25% of the smartphones in the world. | 苹果,我想, 销售不到25%的智能手机 在世界上。 |
| 668 | I know a guy that produces as many as Apple does. | 我认识一个像苹果公司一样生产的人 |
| 669 | But Apple has produced the one that's the most useful to people. | 但苹果公司已经生产了对人们最有用的产品. |
| 670 | It's an aspirational product. | 谓欲产. |
| 671 | A lot of people have made cars, | 很多人都做了车 |
| 672 | but you got a few survivors that made the ones that people like the best. | 但你有少数生还者 使人们喜欢最好的。 |
| 673 | And we would be selling 16 or 17 million cars a year in this country. | 我们每年在这个国家卖1600万或1700万辆汽车。 |
| 674 | We had 50 producers or whether we got three. | 我们有50个制片人 或者我们有3个 |
| 675 | We never used to have… | 我们以前从没... |
| 676 | But here is an interesting fact, as you know. | 但这是个有趣的事实,你知道的。 |
| 677 | Tesla has more market value than all the automobile companies combined. | 特斯拉的市场价值高于所有汽车公司的总和. |
| 678 | Yeah. | 对 |
| 679 | Elon Musk. | 伊隆・穆斯克 |
| 680 | What does that say? | 这是什么意思? |
| 681 | That shows what America produces. | 这说明了美国生产的东西。 |
| 682 | Elon didn't… | 伊隆没有... |
| 683 | I mean, he's taking on General Motors and Ford and Toyota and all these people | 福特和丰田 还有这些人 |
| 684 | who've got all the stuff and he's got an idea. | 谁拥有所有的东西, 他有一个想法。 |
| 685 | And he's winning. | 则胜. |
| 686 | That's America. | 那是美国。 |
| 687 | I mean, you can't dream it up. | 我的意思是,你不能梦见它。 |
| 688 | I mean, it's astounding. | 我的意思是,这是惊人的。 |
| 689 | Now, you still need a referee. | 现在,你仍然需要一个裁判。 |
| 690 | That's the government. | 这是政府。 |
| 691 | Yeah, sure. | 当然 |
| 692 | And you need a judicial system. | 你需要一个司法系统。 |
| 693 | But that comes with government. | 但这是政府的事 |
| 694 | And we've got the best… | 我们得到了最好的... |
| 695 | So far, we've got the best system. | 目前,我们已经有了最好的系统. |
| 696 | We've got a better system than we used to have | 我们有比以前更好的系统 |
| 697 | and we'll have a better system 50 years from now. | 我们将会有一个更好的系统 50年后。 |
| 698 | Why are you so sure? | 你为什么这么确定? |
| 699 | Well, I've seen 91 years of it. | 我看过91年了 |
| 700 | I've never seen a period where I didn't believe that. | 我从未见过一个我不相信的时期. |
| 701 | And I haven't… | 我没有... |
| 702 | That it will get better. | 会好起来的 |
| 703 | Of course. | 当然 |
| 704 | In every aspect of it. | 在它的每一个方面。 |
| 705 | Not every aspect. | 不是每个方面。 |
| 706 | We can go backwards in some and… | 我们可以往后走一些... |
| 707 | No, it's not… | 不,这不是... |
| 708 | But it's unbelievable what has happened. | 但发生的事太不可思议了 |
| 709 | You know, let me just think of it. | 让我想想 |
| 710 | You know, we've got a civil war. | 你知道,我们有一个内战。 |
| 711 | We've got a great depression. | 我们有一个伟大的抑郁症。 |
| 712 | We've had all these things. | 我们有过这一切。 |
| 713 | Pandemics. | 大流行风. |
| 714 | We've had… | 我们有过... |
| 715 | Yeah, and we'll continue to… | 是啊,我们会继续... |
| 716 | I'll guarantee you, we'll have something to get on next year | 我向你保证,我们明年有事情要做 |
| 717 | and the year after and the year after. | 以及之后的一年和之后的一年。 |
| 718 | But in a herky-jerky but dramatic matter, | 但是在一个令人毛骨悚然但戏剧性的事情中 |
| 719 | business moves forward. | 企业向前迈进。 |
| 720 | Government moves forward. | 政府向前迈进。 |
| 721 | More important, people move forward. | 更重要的是,人们前进。 |
| 722 | The thing that you fear the most, | 你最担心的事 |
| 723 | and you have said this, is nuclear war. | 你说这是核战争 |
| 724 | Yep. | 对 |
| 725 | I think it was Einstein, you know, | 我觉得是爱因斯坦 |
| 726 | 也许就是Bertrism这个 | |
| 727 | But he says this changes everything in the world | 但是他说这改变了世界的一切 |
| 728 | except the way men think. | 除了男人们的想法 |
| 729 | You don't want to talk about the current situation | 你不想谈目前的情况 |
| 730 | where one of the questions is, | 其中一个问题是, |
| 731 | what if we end up with a World War III | 如果第三次世界大战结束 |
| 732 | and a nuclear catastrophe? | 和核灾难? |
| 733 | Is the reason you don't want to talk to me about it | 是因为你不想跟我谈这件事 |
| 734 | because you don't want to be quoted and people… | 因为你不想被引用和人们... |
| 735 | I don't want to talk about it, | 我不想谈这个 |
| 736 | but I've talked about nuclear catastrophes in the past. | 但我已经谈过过去发生的核灾难 |
| 737 | And the truth is that… | 而事实是... |
| 738 | Well, it was Einstein that said, | 是爱因斯坦说 |
| 739 | I know not what the weapons of World War III will be, | 我不知道第三次世界大战的武器会是什么 |
| 740 | but World War IV will be fought with sticks and stones. | 但是,第四次世界大战将用棍棒和石头进行。 |
| 741 | And that says it all. | 并说一切. |
| 742 | Yeah. | 对 |
| 743 | We've got the power, and other people have the power, | 我们拥有力量,其他人也拥有力量, |
| 744 | to essentially destroy the planet. | 摧毁地球 |
| 745 | And climate change is important in all of those things. | 气候变化在所有这些方面都很重要。 |
| 746 | I mean, there's all kinds of things we should be working on. | 我的意思是,有各种各样的事情 我们应该工作。 |
| 747 | But in the end, the only thing to… | 但最后,唯一的事情是... |
| 748 | I mean, I guess a comic could hit us or something, | 我的意思是,我猜 漫画会打我们什么的, |
| 749 | but we can destroy it. | 但我们可以摧毁它。 |
| 750 | And it's not just us. | 不仅仅是我们 |
| 751 | We can end the planet. | 我们可以结束地球。 |
| 752 | And I don't want to talk about much more beyond that. | 我不想再谈更多了 |
| 753 | I don't like saying that to people, even. | 我甚至不喜欢跟人说这些 |
| 754 | But it's true. | 但说真言曰. |
| 755 | It was true when Einstein said it. | 爱因斯坦说的是真的 |
| 756 | I mean, it's been true. | 我的意思是,这是真的。 |
| 757 | We came close to the Cuban Missile Crisis. | 我们接近古巴导弹危机。 |
| 758 | This is a moment to speak to, and we're in a crucial time. | 这是一个说话的时刻, 我们在一个关键的时刻。 |
| 759 | Yeah. | 对 |
| 760 | But we've been in lots of crucial times. | 但我们在很多关键的时刻。 |
| 761 | We're in a crucial… | 我们处在一个关键的... |
| 762 | At 9-11, did we think we were in a crucial time? | 9点11分,我们是否认为我们正处于关键时刻? |
| 763 | Sure. | 当然 |
| 764 | The world changed in five. | 世间五变. |
| 765 | And I didn't know how it had changed. | 我不知道它是如何改变的。 |
| 766 | The President of the United States didn't know how it had changed. | 美国总统不知道它是如何改变的. |
| 767 | Nobody knew what the hell was going to happen. | 没人知道会发生什么事 |
| 768 | I want to know how Warren has changed from decade to decade to decade. | 我想知道沃伦是如何从十年变成十年的。 |
| 769 | Do you have a sense of that? | 你有感觉吗? |
| 770 | I've gotten dumber, but I've gotten wiser. | 我越来越蠢了,但我更聪明了。 |
| 771 | Okay. | 摆 |
| 772 | That's a nice phrase. | 这句话不错 |
| 773 | But what does it mean? | 这是什么意思? |
| 774 | It means that I can't add a group of numbers remotely as fast as I used to be able to. | 这意味着我不能像以前那样快速地添加一组数字。 |
| 775 | I can't remember sometimes when I walk upstairs. | 我有时不记得我上楼时 |
| 776 | While I'm walking up the stairs, I'm thinking about something else. | 我在楼梯上走的时候 想着别的事 |
| 777 | So by the time I get to the top of the stairs, I don't remember why the hell I walked upstairs. | 所以,当我到达楼梯顶部, 我不记得我为什么走上楼。 |
| 778 | It means I forget names so easily. | 意思是我很容易忘记名字 |
| 779 | It means that I can't read as fast as I used to read. | 谓 念诵如来无量功德. |
| 780 | I am a decaying machine that still feels wonderful. | 我是一个腐朽的机器,仍然感觉美妙。 |
| 781 | But I can't hear as well. | 但我听不见 |
| 782 | I can't see as well. | 我看不见 |
| 783 | My balance is as good, but it doesn't interfere with my happiness, my work, anything. | 我的平衡是一样好,但它并不干扰我的幸福,我的工作,任何东西. |
| 784 | Especially your work. | 特别是你的工作 |
| 785 | Well, I mean, clearly your happiness, but it doesn't, you know, you're saying... | 嗯,我的意思是,很明显你的幸福, 但这并不,你知道,你说... |
| 786 | It doesn't interfere with anything. | 不碍一切法. |
| 787 | That age is... | 那个年龄是... |
| 788 | I can get on a plane and go any place. | 我可以上飞机去任何地方 |
| 789 | You know, I can do anything as long as you don't ask me to dance. | 你知道,我可以做任何事情 只要你不要求我跳舞。 |
| 790 | Or juggle. | 或作杂耍. |
| 791 | Or even remember, you know, who did I meet yesterday? | 甚至还记得,你知道, 我昨天遇到了谁? |
| 792 | But in terms of the doing the job that you do, allocating capital. | 但是在做你的工作方面, 分配资本。 |
| 793 | I can actually do that as well as ever. | 我和以前一样可以做到 |
| 794 | As ever. | 一如既往 |
| 795 | Yeah, that sounds awesome. | 是啊,这听起来真棒。 |
| 796 | But better than that, do you do it today better than you did it 20 years ago? | 但比这更好的,你今天做的比20年前更好吗? |
| 797 | I've got a different set of opportunities. | 我有不同的机会 |
| 798 | And that gives you, obviously, well, virtual is much bigger than it's ever been. | 很明显,虚拟比以前大得多。 |
| 799 | And therefore, that defines the choices. | 因此,这决定了选择。 |
| 800 | The size restricts the kind of things that can have an important effect | 体型限制着能产生重要影响的东西 |
| 801 | on what I can do for the people who leave the money with me. | 我为那些把钱留给我的人做些什么 |
| 802 | So I am a... | 所以我是个... |
| 803 | I can't earn the returns on capital with $500 billion or $600, you know, | 5000亿美元或600美元,我赚不到资本回报 |
| 804 | whatever it may be to work with. | 随其所为 |
| 805 | Like, if I do something brilliant with $5 billion, it's 1% of my net worth. | 比如说,如果我用50亿美元做一件聪明的事, 它就是我净值的1%. |
| 806 | I mean, 1% of the net worth of people I'm working with. | 我的意思是,1%的净值 我工作的人。 |
| 807 | And 1% doesn't move much, you know. | 1%不会移动很多 |
| 808 | So I have to think about big things. | 所以我得考虑一下大事 |
| 809 | And they're limited. | 而且它们有限。 |
| 810 | I mean, you know, I made money in an entirely different way | 我的意思是,你知道, 我赚钱的方式完全不同 |
| 811 | when I was working with originally $10,000, $9,800 to be exact. | 当我用一万美元工作时 准确的说是9800美元 |
| 812 | And when I started working with other people's money, it was $105,000. | 当我开始用别人的钱工作时,是105,000美元。 |
| 813 | And May 5th of 1956, I had $105,100 put into that partnership. | 1956年5月5日,我投入了105 100美元的伙伴关系。 |
| 814 | And Berkshire is the outgrowth of that. | 伯克郡就是这个产物 |
| 815 | I went to the house that I was renting it for $175 a month the other day. | 那天我去了我租的 每月175美元的房子 |
| 816 | I've just come back from New York. | 我刚从纽约回来 |
| 817 | And there's a little room, I would say it's about five feet by eight feet. | 有一个小房间,我会说 它大约5英尺8英尺。 |
| 818 | And I'd written on the door because I knew the people who owned it earlier. | 我写在门上是因为我认识早先拥有它的人。 |
| 819 | This is where it all started, May 5th, 1956. | 1956年5月5日,这里全部开始. |
| 820 | And I worked out of that little room for two years and moved to the house. | 我在那个小房间工作了两年 搬到了房子 |
| 821 | And then I got another little room. | 然后,我得到了另一个小房间。 |
| 822 | I worked there for four years. | 我在那里工作了四年。 |
| 823 | And everything I did could double our net worth, you know. | 我所做的一切可以使我们的净值翻一番 |
| 824 | That doesn't mean I could find them all. | 那不代表我可以全部找到他们 |
| 825 | But I mean, there were thousands of possibilities. | 但是,我意思是,有成千上万的可能性。 |
| 826 | And I wanted to know every one of them. | 欲知一切众生. |
| 827 | And they're not thousands of possibilities now? | 他们现在不是几千种可能性? |
| 828 | Can't possibly be. | 这不可能 |
| 829 | No, there aren't thousands of possibilities. | 不,没有成千上万的可能性。 |
| 830 | Not many whales out there. | 外面没有多少鲸鱼 |
| 831 | No, no, no. | 不,不,没有。 |
| 832 | But there's, well, there's some. | 但还有,嗯,有一些。 |
| 833 | Is that a moment of great exultation when you realize that's a whale? | 你意识到那是鲸鱼时, 这是令人兴奋的时刻吗? |
| 834 | Sure. | 当然 |
| 835 | You know, I see something. | 你知道,我看到的东西。 |
| 836 | Yeah, well, I mean, if you're looking for whales for months, it's got to be. | 是啊,我的意思是,如果你寻找鲸鱼几个月, 它必须是。 |
| 837 | You got to get some kind of thrill out of it when you find one. | 你得得到某种刺激 当你找到它。 |
| 838 | Let me talk about something that didn't work. | 让我来谈谈一些没用的事 |
| 839 | You and Jamie Dimon and Jeff Bezos came together. | 你和杰米·迪蒙和杰夫·贝佐斯一起来的 |
| 840 | Health care is a huge part of our economy. | 保健是我国经济的一大部分。 |
| 841 | And here we saw three really smart people representing three enormous institutions. | 在这里,我们看到三个非常聪明的人代表三个巨大的机构。 |
| 842 | We had all the money in the world. | 我们拥有世界上所有的钱。 |
| 843 | All the money in the world. | 世间一切财. |
| 844 | And we trusted each other. | 我们彼此信任 |
| 845 | Yes. | 对 |
| 846 | Totally. | 当然 |
| 847 | And it failed. | 却失败了 |
| 848 | Which was well justified. | 这是完全合理的。 |
| 849 | So I mean, we had as good a combination as you could have in terms of resources, flexibility, | 所以,我的意思是,我们有一个很好的组合 在资源,灵活性, |
| 850 | mutual interests, everything. | 相互利益,一切。 |
| 851 | And what was the intent? | 意图是什么? |
| 852 | The intent was, well, we had several intents, but I mean, we had an intent and we had a hope. | 我们的意图是,嗯,我们有几个意图, 但是,我的意思是,我们有一个意图,我们有一个希望。 |
| 853 | And we knew the hope was nothing. | 而且我们知道希望是虚无的。 |
| 854 | I mean, we knew that we didn't know whether it was 51 against it or 101 against it. | 我的意思是,我们知道,我们不知道 它是51反对它,还是101反对它。 |
| 855 | But what was the downside? | 但什么是缺点? |
| 856 | The problem was so big, it was worth trying. | 问题很大,值得尝试。 |
| 857 | Yeah. | 对 |
| 858 | And what was the downside to us? | 我们的缺点是什么? |
| 859 | Nothing. | 没什么 |
| 860 | Zero. | 零点 |
| 861 | Maybe we looked like we couldn't solve it, which is true, but that's OK. | 也许我们看起来像我们无法解决,这是真的,但没关系。 |
| 862 | Why couldn't you solve it? | 你为什么不能解决它? |
| 863 | Oh, it's three, you know, it's as big as the federal government receipts. | 哦,这是三,你知道, 它的大小像联邦政府收据。 |
| 864 | I mean, it employs more people and it's not a terrible system. | 我的意思是,它雇用更多的人 它不是一个可怕的系统。 |
| 865 | I mean, it's so much better than it was 20 years ago and 50 years ago and 100 years ago. | 我的意思是,比起20年前,50年前和100年前,它好多了. |
| 866 | So I mean, we've got a wonderful medical system. | 所以,我们有一个很好的医疗系统。 |
| 867 | But we're fighting over it all the time. | 但我们一直在为此而战 |
| 868 | Well, I mean, you know, anytime you get a big pie in this country, people fight over it. | 嗯,我的意思是,你知道,每当你得到一个大饼 在这个国家,人们争抢它。 |
| 869 | But I mean, as you know, until Obama did what he did, you know, Clinton failed and then Obama... | 但是,你知道的,直到奥巴马做 他所做的,你知道,克林顿失败了,然后奥巴马... |
| 870 | No, I think what Obama did was good. | 不 我觉得奥巴马做的很好 |
| 871 | I think it was a real important progress for the American people. | 我认为这对美国人民来说是一个真正重要的进步. |
| 872 | And then the question is how to make it better. | 后问如何是好. |
| 873 | And to make it better, what we need to do is A, bring the price down and B, | 为了更好,我们需要做的是A, 降低价格和B, |
| 874 | make the accessibility to it. | 使公众能够使用它。 |
| 875 | You've got to be sure everyone, a rich, rich, rich, rich, unbelievably rich country... | 你必须确信每个人,一个富有,富有,富有,富有,不值得相信的富国...... |
| 876 | Like America. | 像美国。 |
| 877 | Like America, can be sure that every single person not only has access but feels he or she | 像美国一样,可以确定每个人 不仅有权限,而且有感觉 |
| 878 | has access that knows that he can get prompt, reasonably prompt. | 拥有能及时进入的通道 |
| 879 | I mean, again, there comes limits with pandemics and everything, but reasonably prompt | 我的意思是,再次,有限制 大流行病和一切, 但合理的迅速 |
| 880 | and essentially free. | 基本上都是免费的 |
| 881 | I mean, it isn't free in the sense that society doesn't pay for it. | 我的意思是,它不是免费的 从社会不支付它。 |
| 882 | But the ability to get good medical attention fast, reasonably fast, | 但能够快速、合理快速地获得良好的医疗照顾 |
| 883 | should exist for every American. | 每个美国人都应该存在 |
| 884 | But it doesn't. | 然则不然. |
| 885 | It doesn't. | 它没有。 |
| 886 | We do pretty damn well, but we could do better. | 我们做得很好, 但我们可以做得更好。 |
| 887 | Well, but we're not first in the world or second or third or... | 但我们不是世界上第一 也不是第二还是第三 |
| 888 | Well, listen, I don't know about medicine, but I know what everybody tells me, | 好吧,听着,我不知道关于医学, 但我知道每个人告诉我, |
| 889 | and I believe them, that we are the best in great many things. | 我相信他们,我们在很多事情中都是最好的。 |
| 890 | People come to the United States if they got a lot of money. | 人们如果有钱就来美国 |
| 891 | And for a lot of things, we are, in no way touches us, as I understand it. | 对于很多事情,我们是, 绝不接触我们,正如我所理解的。 |
| 892 | And... | 还有... |
| 893 | Might do, but just understand what you're saying. | 也许可以,但只要明白你在说什么。 |
| 894 | The quality of the medical care is as good as it possibly can be in terms of the best | 医疗质量尽可能好 最好 |
| 895 | physicians, the best therapies, the best intelligence. | 医生,最好的疗法,最好的智力。 |
| 896 | And great medical schools. | 还有伟大的医学院 |
| 897 | But the access is the issue. | 但准入是问题所在。 |
| 898 | It's better than it's ever been, but it's got room to go. | 虽比昔有余,犹有余舍. |
| 899 | I mean, it's better than it's ever been, Charlie. | 我是说,比以前好多了,查理 |
| 900 | Most things, almost everything is good. | 大多数事情,几乎一切都是好的。 |
| 901 | Did any ideas come out of this? | 这件事有什么想法吗? |
| 902 | Well, yeah, I think all three institutions learned something. | 嗯,是的,我认为所有三个机构 都学到了一些东西。 |
| 903 | And I think they actually, it wasn't that much money anyway. | 我觉得他们其实不是那么多钱 |
| 904 | But we all got our money's worth. | 但我们都值钱了 |
| 905 | Sure. | 当然 |
| 906 | I had a sense of just in terms of, you know, we employ 360,000 people. | 我有一种感觉 就是,你知道,我们雇用了36万人。 |
| 907 | Amazon, you know, who knows how many they employ. | 亚马逊,你知道, 谁知道他们雇用多少人。 |
| 908 | And JV employees, you know, it's fantastic. | 和JV员工, 你知道,这是伟大的。 |
| 909 | So we all learned something. | 所以我们都学到了一些东西。 |
| 910 | But we didn't have any breakthroughs at all. | 但我们完全没有突破 |
| 911 | We just learned something. | 我们刚刚学到一些东西。 |
| 912 | Here's what was interesting about it for me was the fact that | 对我来说有趣的是 |
| 913 | these three institutions led by these remarkable human beings, smart, successful, | 这三个机构 由这些杰出的人类领导, 聪明,成功, |
| 914 | it was taking all that IQ and all that experience and applying it to a huge problem. | 它需要所有智商和所有的经验 并将其应用于一个巨大的问题。 |
| 915 | Smart, successful. | 聪明,成功。 |
| 916 | You know, and you ask yourself, are there other areas in which... | 你知道,你问自己, 还有其他的领域... |
| 917 | Yeah, well, you can say that everything we do in the country can be improved. | 是的,你可以说, 我们所做的一切 在这个国家可以改进。 |
| 918 | Education can be improved. | 教育可以改善。 |
| 919 | I mean, everything. | 我是说,一切。 |
| 920 | Tell me, are the things that you think we ought to be talking about, I'm going to talk | 告诉我,你认为我们应该谈论的东西, 我要谈谈 |
| 921 | about climate in just a moment, are the things that you think we ought to be talking about? | 关于气候在一瞬间, 你觉得我们应该谈论的东西吗? |
| 922 | I mean, I am happy to tell people that the same thing I've told them before, but they'll | 我的意思是,我很高兴告诉人们 我之前告诉他们一样的事情,但他们会 |
| 923 | never get the message, most of them, but a few do, that the most, you know, best thing | 从来没有得到信息,大多数, 但少数做,最,你知道,最好的事情 |
| 924 | to do if you want to invest for the long term is index. | 如果想要长期投资,则使用指数。 |
| 925 | And it's the S&P 500 index. | 并且是S&P500指数. |
| 926 | And what's happened, of course, is that organizations like to grow. | 当然,所发生的是 组织喜欢成长。 |
| 927 | So they set up indexes on different industries, different countries. | 于是他们建立了不同行业,不同国家的指数. |
| 928 | And as soon as you do that, you're violating basically what Jack Bogle said. | 一旦你这样做, 你基本上违反了杰克·博格说的话。 |
| 929 | He says, you don't know enough to pick the right businesses, which means, you know, don't | 他说,你不知道 选择正确的企业, 这意味着,你知道,不要 |
| 930 | know enough to pick the right countries, you know enough. | 足够选择正确的国家,你也知道。 |
| 931 | All right. | 好吧,我们走。 |
| 932 | Well, let me get to that. | 好吧,让我开始吧。 |
| 933 | That's what I'm going to get to. | 即得现前. |
| 934 | But we will see a time in which the Chinese economy is bigger than the U.S. economy. | 但是,我们将看到一个中国经济比美国经济大的时候. |
| 935 | Someday, they're, they've got four times as many people, and logically, they will grow | 有一天,他们是, 他们有四倍的人, 逻辑上,他们会成长 |
| 936 | and grow and we will be with the two superpowers. | 并成长,我们将与两个超级大国。 |
| 937 | Are they going to grow as fast as they have been growing? | 他们会像以前一样迅速成长吗? |
| 938 | It's hard to tell. | 佛告阿难. |
| 939 | I don't know the answer to that. | 我不知道这个答案 |
| 940 | When they've got some issues, they've got issues of debt. | 当他们有一些问题, 他们有债务问题。 |
| 941 | They've got issues of demographics. | 他们有 人口学的问题。 |
| 942 | Yeah, everybody's got those kind of issues. | 是啊,每个人都有这种问题。 |
| 943 | They've got also issues. | 他们也有问题 |
| 944 | We've got issues throughout the history of the United States. | 我们在美国历史上一直有问题. |
| 945 | They also have issues of the environment and climate. | 它们也有环境和气候的问题。 |
| 946 | The UN just released a report and we have heard it and we constantly hear it. | 联合国刚刚发布了一份报告,我们听到了报告,我们不断听到报告。 |
| 947 | How worried are you about our success in protecting the planet? | 你对我们保护地球的成功有多担心? |
| 948 | Well, the biggest threat obviously is nuclear weapons, but it doesn't mean you don't protect | 那么,最大的威胁显然是核武器, 但这并不意味着你不保护 |
| 949 | against other things. | 反对其他事情。 |
| 950 | Right. | 对 |
| 951 | And if there's a 1% chance even, and I'm not, wait, I can't quantify it, but if there's | 如果有1%的机率甚至, 而我没有,等等,我不能量化它, 但如果有 |
| 952 | a 1% chance of something causing the world trouble 10 years from now, 50 years from now, | 一个1%的机会 某事引起世界麻烦 10年后,50年后, |
| 953 | 100 years from now, we ought to be working on that too. | 一百年后,我们也应该为此努力。 |
| 954 | Are we doing enough? | 我们做得够吗? |
| 955 | Oh, we're doing a lot. | 哦,我们正在做很多。 |
| 956 | The problem is, of course, that it requires the whole world to do a lot. | 当然,问题在于它需要全世界做很多事情。 |
| 957 | There are a lot of problems like that, including the pandemic, including the environment that | 有许多类似问题,包括这种流行病,包括环境。 |
| 958 | transcend national boundaries and need cooperation. | 超越国界,需要合作。 |
| 959 | The virus doesn't have to clear immigration. | 病毒无需清除移民. |
| 960 | The virus does not have to clear immigration. | 病毒不需要清除移民。 |
| 961 | No, that's simple. | 不,这很简单。 |
| 962 | It can be brought in by one person. | 可以一人带入. |
| 963 | Right. | 对 |
| 964 | There's a lot of other things that aren't physical viruses. | 还有很多其他的东西不是物理病毒. |
| 965 | When you look at Tim Cook, I think he's terrific. | 当你看着蒂姆·库克时 我觉得他很棒 |
| 966 | It's that simple. | 就这么简单 |
| 967 | I've written the annual report. | 我写了年度报告 |
| 968 | Yes. | 对 |
| 969 | And he is. | 他就是这样 |
| 970 | He's a great manager. | 他是个好经理 |
| 971 | He's not only a great manager, he's a great human being, but he's a great manager too. | 他不仅是一位出色的经理,也是一位出色的人,同时也是一位出色的经理. |
| 972 | He's an incredibly great manager, but he's a great human being. | 他是个了不起的经理 但他是个伟大的人 |
| 973 | What do we look for in a great manager? | 我们要找什么好经理? |
| 974 | You look for him. | 你去找他,你找谁? |
| 975 | You look for somebody else. | 你找别人。 |
| 976 | The results. | 结果 |
| 977 | Yes. | 对 |
| 978 | You look for somebody that has ability, trust and character. | 你在找一个有能力 信任和性格的人 |
| 979 | Ability, trust, character. | 能力,信任,性格。 |
| 980 | Yeah. | 对 |
| 981 | Somebody you can trust. | 一个人你可以信任。 |
| 982 | Same thing you want in a spouse. | 和配偶一样 |
| 983 | Charlie always says, you want to marry somebody better than you are. | 查理总是说 你想娶比自己更好的人 |
| 984 | He says, in my case, that leaves the whole world bright red. | 他说,就我而言,这让全世界都红了。 |
| 985 | But it's the truth. | 但说真言曰. |
| 986 | I mean, you always want to be around people who are better than you are. | 我的意思是,你总是想 身边的人 谁比你更好。 |
| 987 | They pull you in the right direction. | 他们把你拉到正确的方向。 |
| 988 | What's the chemistry? | 什么是化学? |
| 989 | What's the nature of the relationship between you and Charlie? | 你和查理的关系是什么性质? |
| 990 | It's a long, long relationship. | 关系久远. |
| 991 | We met in May of 1959. | 我们在1959年5月相遇. |
| 992 | His father died. | 他的父亲死了。 |
| 993 | He had worked in the same grocery store as I had in 1940. | 他和我在1940年在同一家杂货店工作过 |
| 994 | I worked there in 41. | 我在那里工作过41年。 |
| 995 | And we never met. | 我们从没见过面 |
| 996 | I didn't know his name. | 我不知道他叫什么来着 |
| 997 | And his dad was, you know, well known all along, but I just didn't happen to know. | 他的父亲是,你知道, 一直众所周知, 但我只是没有碰巧知道。 |
| 998 | I was a kid and we moved to Washington. | 我小时候搬去华盛顿 |
| 999 | And so it was a name I never heard. | 我从未听说过这个名字 |
| 1000 | Your dad went to Congress. | 你爸爸去了国会。 |
| 1001 | I never heard his name until 1959. | 直到1959年才听说他的名字. |
| 1002 | Or no, I heard the name when I met the Dave. | 或者没有,我听到的名字 当我遇到戴夫。 |
| 1003 | It was maybe 57 or 58. | 大概是57或58岁 |
| 1004 | He came to Omaha in 1959. | 1959年来到奥马哈. |
| 1005 | We met. | 我们见过面 |
| 1006 | And it's been, you know, the best relationship except others I've had in family and so on. | 这是,你知道,最好的关系 除了其他我有过的家庭等等。 |
| 1007 | But he's been the person, along with Tom Murphy and, I don't know, Joe Rosenfield, | 但他就是那个人 和汤姆·墨菲一起 我不知道 乔·罗森菲尔德 |
| 1008 | subsequent to my dad that I least, that I didn't want to disappoint. | 我爸说至少我不想失望 |
| 1009 | Good to have somebody in your life you don't want to disappoint. | 很高兴有个人在你的生活中 你不想失望。 |
| 1010 | It's enormously important. | 这很重要 |
| 1011 | He's a better person. | 他是个好人 |
| 1012 | Do you disagree on a lot of things? | 你有很多分歧吗? |
| 1013 | Well, we've never argued. | 我们从没争吵过 |
| 1014 | We've never had an argument. | 我们从未有过争吵 |
| 1015 | People say, well, that's impossible. | 人们说,这是不可能的。 |
| 1016 | I'm telling you, we've never had an argument. | 我告诉你,我们从来没有有过争吵。 |
| 1017 | But you could say, I believe this. | 但你可以说,我相信这一点。 |
| 1018 | And he says, I believe this. | 他说,我相信 |
| 1019 | You just don't argue about it. | 你只是不争论这一点。 |
| 1020 | Yeah, but we don't even have to say it hardly. | 是的,但我们甚至不用说。 |
| 1021 | We may know that I would say this or that. | 我们可能知道,我会说这个或那个。 |
| 1022 | Why bring it up? | 为什么提起来? |
| 1023 | You know, he, I think, has expressed some concern about index funds. | 我想他已经对指数基金表示了一些关注。 |
| 1024 | I support everything Charlie says, but I don't agree with it. | 我支持查理说的 但我不同意 |
| 1025 | I don't mean on that. | 我不是那个意思。 |
| 1026 | I mean, that doesn't mean I agree with him on everything. | 这并不意味着我同意他的观点 |
| 1027 | He doesn't agree with me on everything. | 他不同意我的观点 |
| 1028 | And we've never had a problem with that since 59. | 我们从59岁起就没遇到过这种问题 |
| 1029 | Jeff Bezos. | 杰夫·贝佐斯. |
| 1030 | Yeah. | 对 |
| 1031 | What about him? | 他怎么样? |
| 1032 | Jeff is a friend of mine, but I probably see him personally. | 杰夫是我的朋友 但我可能亲眼见过他 |
| 1033 | I see him once a year. | 我每年见他一次 |
| 1034 | Yeah, and I can't recall ever talking to him on the telephone. | 是啊,我不记得曾经跟他通过电话。 |
| 1035 | Maybe I have. | 也许我有。 |
| 1036 | I've never sent him an email, but I don't know how to send emails. | 我从没给他发过邮件 但我不知道怎么发邮件 |
| 1037 | You know how to get them, son. | 你知道怎么得到他们,儿子。 |
| 1038 | Yeah. | 对 |
| 1039 | No, I've got a system, but I don't, I literally didn't know how to send an email. | 不,我有一个系统, 但我没有, 我字面上不知道如何发送电子邮件。 |
| 1040 | You seem to have done okay without knowing. | 你似乎做得很好 不知不觉。 |
| 1041 | So far. | 目前为止 |
| 1042 | But you once said to me, you know, that, I mean, he's one of the smartest businessmen. | 但你曾对我说过 他是最聪明的商人之一 |
| 1043 | Oh, absolutely. | 当然 |
| 1044 | And the proof is in the pudding. | 证据在布丁里 |
| 1045 | I read his annual reports. | 我读了他的年度报告。 |
| 1046 | I see him once a year. | 我每年见他一次 |
| 1047 | I mean, I've usually seen him once a year in Sun Valley. | 我通常每年在太阳谷见过他一次 |
| 1048 | And I enjoy that. | 我喜欢这样 |
| 1049 | And actually, at Sun Valley, at the Allen & Company Conference, | 实际上,在太阳谷, 在艾伦和公司会议上, |
| 1050 | we've had a dinner that a few of us have been. | 我们一起吃过一顿我们几个人都吃过的晚饭 |
| 1051 | And so I've probably had at least three or four of those. | 所以我可能至少吃了三四个 |
| 1052 | It's remarkable to see a company which was founded on selling books | 看到一家以卖书为主的公司,真是了不起 |
| 1053 | now is a technological giant. | 现在是一个技术巨头。 |
| 1054 | It couldn't happen, but it did. | 它不可能发生,但它做到了。 |
| 1055 | When Jeff was, Mackenzie, I don't know whether they drove cross country to New York to Seattle, | 当杰夫,麦肯锡, 我不知道他们是否开车 穿越国家到纽约到西雅图, |
| 1056 | but if they'd stopped it, I'm all, I didn't know him. | 但是如果他们阻止了它, 我所有的,我不认识他。 |
| 1057 | He said, what do you think of this idea? | 他说,你觉得这个主意如何? |
| 1058 | You know, good luck, Jeff. | 祝你好运,杰夫 |
| 1059 | Yes, but you have told me that he, at times, would come up to you and have questions | 是的 但你告诉我 他有时候会来问你 |
| 1060 | if you would make a presentation at a conference. | 如果你愿意在会议上发表演讲。 |
| 1061 | Yeah, at Sun Valley. | 对,在太阳谷 |
| 1062 | You know, he's a very, very, very smart guy. | 你知道,他是一个非常,非常,非常聪明的人。 |
| 1063 | And, you know, I think, you know, well, I mean, look, a good bit of his fortune | 而且,你知道,我觉得,你知道, 嗯,我的意思是,你看, 一点点他的财富 |
| 1064 | is going to help society in various ways. | 将会以各种方式帮助社会。 |
| 1065 | The giving pledge is? | 承诺是? |
| 1066 | Well, he's got his own plans on that. | 他有他自己的计划 |
| 1067 | And Bill continues to make a huge impact on philanthropy. | 而比尔继续对慈善事业产生巨大影响. |
| 1068 | And they do it not with just money. | 他们不光靠钱 |
| 1069 | They do it with time. | 他们做它的时间。 |
| 1070 | They're on the scene. | 他们在现场。 |
| 1071 | They do it with time. | 他们做它的时间。 |
| 1072 | I mean, they give up. | 我的意思是,他们放弃。 |
| 1073 | Time is the most precious thing you've got, you know, pretty much. | 时间是你拥有的最珍贵的东西,你知道的, 差不多。 |
| 1074 | And they do it with time. | 他们用时间做 |
| 1075 | They are giving something. | 他们正在提供一些东西。 |
| 1076 | They're giving something I'm not willing to give. | 他们给的东西 我不愿意给。 |
| 1077 | Time. | 时间 |
| 1078 | Not much time to that. | 时间不多了 |
| 1079 | I'd rather give my time to Berkshire. | 宁为伯克郡留时. |
| 1080 | Because? | 因为? |
| 1081 | Because that's what I enjoy doing. | 因为我喜欢这样 |
| 1082 | And that's what you do well. | 这就是你做的很好。 |
| 1083 | Yeah, it's what I do well in. | 是啊,这是我做的很好。 |
| 1084 | It produces money and that does well for other people, but it doesn't. | 它能赚钱,对其他人也有好处,但不会 |
| 1085 | It'll do better if it's given by other people. | 若彼众生所施能更施. |
| 1086 | That was a choice you made when you gave them? | 你给了他们一个选择? |
| 1087 | Choice. | 选择 |
| 1088 | It was a choice, I mean, a long, long time ago in terms of Susie and so on. | 这是一个选择,我的意思是, 很久以前,在苏西等。 |
| 1089 | But, yeah. | 不过,是的。 |
| 1090 | Somebody's going to do something with the money. | 有人会用钱做点什么 |
| 1091 | And those are claim checks on the output of others. | 这些是对他人产出的索赔检查。 |
| 1092 | Productivity of the world. | 世界生产力。 |
| 1093 | You can redistribute it to places where it's needed more. | 你可以再分配到需要更多的地方。 |
| 1094 | I am all for that. | 我完全赞成 |
| 1095 | I just don't want to do it myself. | 我只是不想自己动手 |
| 1096 | I'd rather do what I'm doing. | 宁为所行. |
| 1097 | Speaking of time, I have a few more minutes of your time. | 说到时间 我还有几分钟时间 |
| 1098 | So let me ask these final questions. | 因此,让我提出最后的问题。 |
| 1099 | Have you achieved pretty much everything that you wanted out of life? | 你几乎实现了所有你想要的生活? |
| 1100 | Well, the truth is yes, but I'm looking forward to tomorrow, too. | 好吧,事实是是的,但我期待着明天。 |
| 1101 | Any regrets? | 有遗憾吗? |
| 1102 | Well, if you look back, you can always say, oh, he should have done just that. | 好吧,如果你回头看,你可以总是说, 哦,他应该已经这样做。 |
| 1103 | But I'd be nuts if I looked back on my life and said, you haven't been the luckiest guy | 但是,如果我回顾我的生活,说,你不是最幸运的人。 |
| 1104 | imaginable. | 不可思议. |
| 1105 | And I will say this, aside from sickness and death, | 我会说,除了疾病和死亡, |
| 1106 | everything I thought was bad at the time has turned out well. | 那时我以为坏的一切都好 |
| 1107 | And when you say you've been the luckiest guy, I assume that means a | 当你说你是最幸运的家伙, 我想这意味着 |
| 1108 | community and family. | 社区和家庭。 |
| 1109 | But it also means in your case, as you have said often, the country that you live in. | 但这也意味着你的情况,正如你经常说的那样,你生活的国家。 |
| 1110 | Oh, totally. | 哦,绝对的。 |
| 1111 | Charlie, if I'd been born any place but the United States, | 查理,如果我出生的地方 除了美国, |
| 1112 | my life would have been totally different. | 我的生活会完全不同 |
| 1113 | And incidentally, you know, it helped to have a parent. | 顺便说一句,你知道, 它帮助有一个父母。 |
| 1114 | I had to do. | 我必须这样做。 |
| 1115 | But the United States is essential. | 但美国至关重要。 |
| 1116 | It's given me everything. | 它给了我一切。 |
| 1117 | And your dad was the man you most admired. | 你爸爸是你最钦佩的人 |
| 1118 | Yep. | 对 |
| 1119 | And why was that? | 为什么? |
| 1120 | Well, I never saw him do anything in his life that he didn't believe in. | 我从没见过他做过他不相信的事 |
| 1121 | Turned out I didn't agree with him on things later on. | 结果我后来不同意他的意见 |
| 1122 | I mean, I accepted this. | 我的意思是,我接受了这一点。 |
| 1123 | Sure. | 当然 |
| 1124 | Yeah. | 对 |
| 1125 | I mean, when we sat around the dinner table in the 1930s, I mean, | 我的意思是,当我们在20世纪30年代 坐在餐桌旁的时候,我的意思是, |
| 1126 | my dad was the most anti-Roswell person you can imagine. | 我爸爸是最反罗斯威尔的人 你能想象。 |
| 1127 | So you almost had to say something bad about Roosevelt to get dessert or something. | 所以你几乎不得不说一些关于罗斯福的坏话 要得到甜点什么的。 |
| 1128 | But I mean, my sisters and I grew up with that. | 但是,我的意思是,我的姐妹和我长大 与此。 |
| 1129 | But that's OK. | 但没关系。 |
| 1130 | He didn't. | 他没有。 |
| 1131 | Anything I did, he supported as long as it was I was behaving OK. | 我所做的一切 他都支持 只要我表现良好 |
| 1132 | And even when I didn't behave OK, he never gave up. | 即使我表现不好 他也从未放弃过 |
| 1133 | It came out this week that you are one of the five richest people in the world | 这周出来,你是世界上最富有的五个人之一 |
| 1134 | on that list. | 在名单上。 |
| 1135 | Ahead of you was Bill Gates, Elon Musk, | 在你们之前是比尔盖茨,伊隆穆斯克 |
| 1136 | Jeff Bezos and the man from France. | 杰夫·贝佐斯和法国人 |
| 1137 | What does that mean to you? | 这对你意味着什么? |
| 1138 | It means I can direct the way a whole lot of money goes just back to society. | 意思是,我可以引导 一整笔钱回到社会 |
| 1139 | But what really means something to me is the record of Berkshire. | 但对我来说真正意义在于 伯克郡的记录 |
| 1140 | That's what I've done. | 已而为之. |
| 1141 | The money flows out of it. | 钱从中流出. |
| 1142 | But I paint the painting. | 但我画的画。 |
| 1143 | The world can bid on an auction. | 世界可以竞价拍卖. |
| 1144 | But that is fun. | 但这是乐趣。 |
| 1145 | And it's been fun. | 且作么生是乐. |
| 1146 | It's been way more fun doing it with Charlie as my partner than it would have been alone. | 和查理做我的搭档 比我一个人更好玩 |
| 1147 | I mean, it's just incomparable. | 我的意思是,它只是不可比拟。 |
| 1148 | So the legacy is Berkshire Hathaway. | 所以遗产是伯克郡·哈撒威. |
| 1149 | Oh, sure. | 当然 |
| 1150 | And it's my friends. | 这是我的朋友。 |
| 1151 | And that is a perfect segue to my last question. | 这对我的最后一个问题来说是完美的。 |
| 1152 | If you were giving one last lecture, what would you want to say? | 如果你再讲一次 你想说什么? |
| 1153 | Oh, I would probably talk about it. | 哦,我可能会谈论它。 |
| 1154 | What's been important to me in life and how they should decide what's important to them in life. | 生活中对我很重要的是什么 以及他们应该如何决定 生活中什么对他们很重要 |
| 1155 | And so what's been important to you in life? | 人生中对你很重要的是什么? |
| 1156 | Well, it's all been whatever it is. | 好吧,这一切都是不管它是什么。 |
| 1157 | I've done it, but I've got a family. | 已作但有眷属. |
| 1158 | I feel terrific about I got a business and I've got millions of people who have trusted me. | 我觉得很好 我有一个生意, 我得到了数百万人 谁信任我。 |
| 1159 | Thank you. | 谢谢 |
| 1160 | It's a pleasure to have you. | 幸会 |
| 1161 | Thanks, Charlie. | 谢谢,查理 |
| 1162 | It's always fun. | 常为乐事. |
| 1163 | Join me. | 跟我来。 |
| 1164 | 成为Charlie Rose Global Conversions的订阅者,并让它成为更好的体验. | |
| 1165 | Click this link to subscribe. | 点击此链接订阅 。 |
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