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And he used to say to me,Everybody can read what I read.
他以前经常和我说 每人都能读我读的书
It's a level playing field.
这是一个公平竞争的环境
And he loves that, because he's competitive.
他喜欢那样 因为他有求胜欲
And he's sitting there all by himself in his office,
他都是一个人在办公室
reading these things that everybody else can read,
读每个人都能读的书
but he loves the idea that he's gonna win. Ha!
但他喜欢赢的想法
I'll tell you how you do it.
我会告诉你怎么做
Have you ever seen a juggler,juggle 25 milk bottles?
你见过玩杂耍的 耍25个牛奶瓶吗
How did he ever get to do that?
他怎么做到的
The answer is he started with one bottle,then two, then three
答案就是他从一个瓶子开始 然后两个三个
and just kept doing it, and pretty soon he was at 25,
就坚持 很快就会有25个
and that's the way we did it.
我们也是这样
So, basically, we started out with cash
所以我们从现金开始
and ended up buying a bunch of businesses,including insurance companies.
以购买一些企业结束 包括保险公司
Insurance is, in itself, a profitable business,
保险自身是一项赚钱的生意
but it has the additional advantage of creating something that's called "float."
但它有另外一个优点 能创造浮款
Float is the money that hangs around Berkshire while a claim is waiting to be paid.
浮款是指当要进行偿付时 在伯克希尔周围的那些钱
And Warren turned out to have a extraordinary ability to use the money thrown off by the float to buy companies that fed the growth of Berkshire.
沃伦拥有运用浮款来购买能使伯克希尔成长的公司的非凡能力
