M10:18
对，我通常不会谈这个，不过我觉得这个需要解释一下。
Yeah, I wouldn't normally talk about it, but I think it requires an explanation.
而且我要说明的是，我们对这些公司的业务、本身的运营方式，还有管理层，完全不是失望。
And it requires an explanation that means we were not disappointed at all in the businesses, the way they were being run, and the management.
但是我们最后得出了一个不同的判断，涉及这四家大型——它们是美国最大的四家航空公司。
But we did come to a different opinion on it than the 4 large—they're the 4 largest U.S. airlines.
分别是 American Airlines、Delta Airlines、Southwest Airlines 和 United Continental。
It's American Airlines and Delta Airlines and Southwest Airlines and United Continental.
我想合起来看，它们大概至少占了美国客运收入里程的百分之八十。
And I think collectively they probably are at least 80% of the revenue passenger miles that is flown in the United States.
而且除了 Southwest 以外，它们在国际航线上也飞得很多。
And they have significant international flying too, excluding Southwest.
所以我们是喜欢这些航空公司的，但我们不喜欢的是——航空业所处的世界已经变了，我也不知道到底变成了什么样，我希望它能在相对不太久的时间里恢复正常。
So we like those airlines, but we don't like—the world has changed for the airlines, and I don't know how it's changed, and I hope it corrects itself in a reasonably prompt way.
我不知道，如果经济在一段较长时间里处于这种半停摆状态——假如真是这样的话——美国人的习惯会不会已经改变，或者将来会不会改变。
I don't know whether the Americans will have now changed their habits or will change their habits because of an extended period, if it happens, that we're semi-shut down in the economy.
我也不知道，像那种，怎么说呢，人们通过电话处理事情的这种趋势，会不会继续下去。
I don't know whether the trends toward, you know, what people have been doing by phone.
我的意思是，我已经七个星期没剪头发了。
I mean, it's been 7 weeks since I've had a haircut.
我已经七个多星期没打领带之类的了。
It's been 7 weeks since I—more than 7 weeks since I put on a tie or anything.
每天就只是想一想今天穿哪套运动服。
It's been just a question of which sweatsuit I wear.
所以谁知道呢？
So who knows?
谁知道我们最后会怎么走出来呢？
Who knows how we come out of this?
但我觉得有些行业——很不幸，我觉得航空业就是其中之一——确实受到了重创，实际上是被一些远远超出它们控制范围的事件硬生生关停了。
But I think that there's certain industries, and unfortunately, I think that the airline industry, among others, that are really hurt by a forced—in fact, shut down by events that are far beyond their control.
Greg，你想补充点什么吗？
Greg, would you like to add anything to that?
其实没什么可补充的，Warren。
Really nothing to add, Warren.
好吧，那我们这儿又来了一个 Charlie。
Okay, well, we got another Charlie here.
我本来不是故意把这话说成一个包袱的，不过你已经讲得很到位了。
I didn't intend to use that as a line, but you've covered it well.
对了，顺便说一句，如果有别的航空公司，我们也会买，但那四家是最大的四家，也是我们能投进去一些钱的公司。我们往里面投了大概七十亿到八十亿美元吧，但最后拿出来的可远没有七十亿到八十亿美元。
Yeah, we would have bought other airlines too, incidentally, but those were the 4 big ones, and those are the ones we could put some money into, and we put whatever it was, $7 or $8 billion into it, and we did not take out anything like $7 or $8 billion.
那是我的错误。
And that was my mistake.
但问题总是这样，有些概率比较低的事情，有时候还是会发生。
But it's always a problem if there are things on the lower levels of probabilities that happen sometimes.
这次就发生在航空业上了，而做这个决定的人是我。
And it happened to the airlines, and I'm the one who made the decision.