M20:31
我觉得 Donald Trump 不会给我们打电话。
I don't think Donald Trump will give us a call.
过去这几年里，我们大概做了，嗯，三笔房地产交易，都属于一亿美元以上这个级别。
We have got about, what, 3 deals that we've put on in the last couple of years in real estate, and they are in this $100 million and up category.
而且如果能找到合适的机会，我们愿意投进去几十亿几十亿美元；当然，也可能什么都不会发生，这要看市场，完全取决于市场。
And we're willing to put billions and billions of dollars in if we can find the right sort of opportunities, or nothing may happen depending on, just depending on the market.
我们不是——很多机构都有按揭部门，或者有房地产部门，他们多少像是有个预算，然后为了把预算用掉就把钱投出去，而且他们养着一大批人，这些人如果不做这些事就没活干。
We don't, we don't have most— a lot of places have a mortgage department or they have a real estate department and they sort of have a budget and they put money out based on using up the budget, and they have a whole bunch of people that don't have a job unless they do that.
Berkshire 不是这么运作的。
That's not the way we operate at Berkshire.
我们愿意——你知道，如果交易合适，我们可以做很多很多、几十亿美元的交易。
We're willing, you know, if the deals are right, you know, we'll do many billions.
如果交易不合适，我们也没有谁的工作是非得靠在这种领域里一直忙个不停来维持的。
If the deals aren't right, we don't have anybody whose job is dependent on keeping busy in a field like that.
所以有交易送过来的时候，我们就看看。
So we look at the deals when they come in.
Mike Goldberg 负责这块业务，我们会一起讨论。
Mike Goldberg is in charge of that operation, and we kick things around.
他的办公室就在我隔壁，所以如果他听说了某个交易，你知道，我们大概花三分钟聊一聊，基本就能判断它能不能过第一道门槛，然后再看第二道、第三道。
He's in the office right next to mine, so if he hears about a deal, you know, we'll discuss it for 3 minutes, and we'll sort of know whether it passes the first threshold, and then we'll go on to the second and the third.
不过我们不会在这些事情上浪费太多时间。
But we don't waste a lot of time on things.
对。
Right.
而且我们并不在乎是不是一定要再做成一笔交易。
And we don't care whether we make another deal or not.
如果条件合适，我们当然愿意做。
We'd like to if the terms are right.
那则广告确实带来了一些询问，不过不是 Donald Trump。
And that ad produced some inquiries, not from Donald Trump.
而且，你知道，其中有一两个——有几笔目前还在推进中，我们看看最后能不能做成。
And, you know, one or— there's one or two of— a couple of them are alive at the present time, and we'll see whether they work out.
房地产交易按它的性质来说，敲定下来通常比我们平常做的那类事情要花更长时间。
Real estate deals, by their nature, take longer to, to put to bed than the kind of thing we normally do.
事实上，通常我买下一家公司，都比我们做成一笔房地产交易还要快。
In fact, I can buy a business faster than we can make a real estate deal usually.
事情就是这么运作的。
That's just the way they work.
不过最后我们可能会——我的意思是，我们对手上这三笔交易非常满意。
But we could end up with— I mean, we're very happy with the 3 deals that we've got.
这些钱用得很好，我也希望我们还能找到更多这样的机会。
They're good uses of money, and I hope we find a lot more.
但如果找不到，我也不会觉得沮丧。
But if we don't, I won't be upset.
Charlie，你有什么要补充的吗？
Charlie, do you have anything to add?
Charlie 是我们的房地产专家。
Charlie's our real estate expert.
哪有。
Hardly.
顺便说一句，尽管外面有传言，我们并没有给 Charlie 的船提供融资。
We are not financing Charlie's boat, incidentally, despite the rumors.