1997年股东大会 · 巴菲特普通的一天是如何度过的 — 文稿

M10:01

Buffett 先生，Munger 先生，感谢你们今天让我来这里。

Mr. Buffett and Mr. Munger, thank you for having me here today.

我叫 Dorsey Brown，来自 Maryland 的 Baltimore。

My name is Dorsey Brown from Baltimore, Maryland.

我有两个很简短的问题想请教你们。

I have 2 quick questions for you.

能不能请二位谈谈，你们对高管薪酬和期权发放这件事有什么看法？这个话题现在似乎越来越受到媒体关注。你们觉得这个领域会不会出现一些过度的现象？

Could you please comment on any observations that either of you may have concerning executive compensation and option issuance, a topic that seems to be getting a lot more media attention, and are we going to be getting a little bit of excesses in that area?

第二个问题是问您的，Buffett 先生。您能不能跟我们大概讲讲，您平常正常的一天是怎么过的——比如说，您在投资这一块，做分析、阅读，或者其他相关工作时，理想中一个比较正常、合理的工作日会是什么样子？也让我们大概感受一下。

And my second question to you, Mr. Buffett, could you just give us some idea of what a normal day—how you would like to spend a reasonable normal day in working on the investment side of the equation or analysis or reading, or just to give us some flavor of that?

谢谢。

Thank you.

M20:52

好，我先回答第二个问题。

Okay, I'll answer the second question first.

这个很容易。

Very easy.

我就是大量阅读。

I just, I read a lot.

还有，我打电话也挺多的。

And I talk on the telephone a fair amount.

我们不开会。

We have no meetings.

我们没有委员会。

We have no committees.

我们也没有什么幻灯片演示。

We have no slide presentations.

你知道，我们什么都没有。

You know, we have nothing.

我的意思是，所以我就读很多东西。

I mean, it—and so I read a lot.

我读年报。

I read annual reports.

我读商业刊物。

I read business publications.

其实我用少得多的时间也能做完，但我喜欢做这个，所以我就把这个过程拉长一点。

I could do it in way less time, but I enjoy doing it, so I make it last.

我是说，你知道。

I mean, you know.

就像人生里的其他一些事情一样。

Like some other activities in life.

所以说，真的，任何人在旁边看都会觉得这是世界上最无聊的工作，但我就是很喜欢它。

So it's, it's, there's really, it's the most boring job to anybody watching it, but I'm in love with it, you know.

所以我喜欢这么做，嗯，而且我不太喜欢老是谈这个。

And so I, I like doing that, and, um, I don't like talking about it a lot.

嗯，我就是喜欢大概跟上外面在发生什么。

Um, I just, I just like to kind of keep up with what's going on.

就像我说的，到了人生这个阶段，我其实已经能过滤掉很多东西了，所以，呃，我其实没必要做这么多。

Like I say, by this point in life, I could filter out so much of that, it would, uh, I just don't need to do that much of it.

但我还是挺享受通过大量阅读，间接地看看外面都在发生什么；我也会花一些时间打电话，而且我还经常在电脑上打 bridge，所以我基本上一直都在做自己喜欢做的事。

But I, but I, I kind of enjoy just seeing what's going on vicariously through doing a lot of reading, and I spend some time on the phone, and I, I'm on the computer a lot playing bridge, and, and I get to do what I like all the time.

我们让 Charlie 说说他平时都做什么，那就更奇怪了，呃，然后我们再来谈薪酬和期权的问题。

We'll let Charlie describe what he does, which is even more bizarre, uh, and then we'll talk about compensation and options.

M32:13

嗯，我的生活里比 Warren 多了一点荒唐劲儿。

Well, there's a little more foolishness in my life than Warren's.

而且，呃，这还包括我在一家大型医院担任董事长。

And, uh, including being chairman of a large hospital.

我不是说医院这件事本身很荒唐。

I, I'm not suggesting that hospitals are foolish.

我只是说，愿意去当一家医院的董事长，这需要一种有点特别的脑回路。

I'm just suggesting that it takes a certain quirk of mind to be willing to be the chairman of a hospital.

而且，呃，所以我的生活就更——比起 Warren 的生活，我的生活更没那么理性。

And, uh, so my life is even more— it's less rational than Warren's.

Warren 过的是我见过最理性的生活之一。

Warren lives one of the most rational lives I've ever seen.

而且，呃，这，这几乎让人难以置信。

And, uh, it's, it's almost unbelievable.

M22:45

而且，而且，呃，他都让我开始纳闷，我今天为什么会在这儿。

And, and, uh, he's got me wondering why I'm here today.