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He made so much money for so long doing what he'd been taught by Ben Graham,
他靠本格拉汉姆教的购买便宜股票的那一套
which he'd buy these very cheap stocks.
赚了很多钱
If they were cheap enough, he didn't care it was a lousy company and a lousy management.
如果足够便宜 他就不在乎这是一个多烂的公司或是拥有多烂的管理层
He knew he was going to make money anyway, just because of the cheapness.
他知道他无论怎样都赚钱 因为它们便宜
Charlie Munger has had a big impact on me in moving me toward looking for wonderful companies at fair prices rather than fair companies at wonderful prices.
查理芒格在推动我寻找价格合理的好公司 而不是价格高的好公司方面 对我有着很大的影响
That was enormously important, because it enabled Berkshire to scale up in a way that would have been impossible to do otherwise.
那相当重要 因为它能使伯克希尔成倍扩大 而不可能犯下其他错误
Yep? What are the key indicatorsyou'd look for within companies before making an investment?
你在进行投资前 你会看公司的什么关键指标
Well, I look for something that does give them a moat around it.
我会寻找周围有护城河的公司
We have a company called See's Candies out on the west coast.
我们在西海岸有一家叫做时思糖果的公司
See's Candies Boxed Chocolates.
时思糖果盒装巧克力
If you give a box of See's chocolates to your girlfriend on the first date and she kisses you?
如果你第一次约会送给你女朋友这个 她会吻你吗
We own you. You know? I mean we,we can raise the price tomorrow.I mean, you'll buy the same box.
我们是你老板 你懂吗 我是指 我们明天就能提高你的价格 你明天买一盒一样的
You're not gonna fool around with success, so the key there is the response.
你就不可能混过关 关键就是回应
You do not want to get home on Valentine's Day and say to your wife or your sweetheart,
你不会想在情人节那天回家 和你的妻子或是心上人
preferably they're the same person.
当然最好两个人是同一人
you don't say, "Here, honey, I took the low bid."It doesn't work.
你不会说亲爱的 我低价中标了 那没用
