巴菲特：不持有大量現金，可能明天就完蛋！

A lot may change at Berkshire, but one thing will always remain the same - we will always hold a lot of cash. And by cash, I don't mean commercial paper. In 2008, 2009, when the economic crisis arose, we were holding Treasuries, not other people's commercial paper, not money market funds.

伯克希爾可能發生很多變化，但有一點永遠不變——我們始終會持有大量現金。我所說的現金，不是商業票據。2008年，2009年，經濟危機出現的時候，我們當時手握國債，不是別人的商業票據，也不是貨幣市場基金。

Holding cash has become our creed. There are times when you won't live to see tomorrow without cash in hand. This has happened in the past and will happen again in the future. Cash likes oxygen. You don't care when it's there. But a few minutes of its disappearance is enough to be fatal.

持有現金已經成爲了我們的信條。有些時候，你手裏沒現金，就活不到明天。這樣的情況，過去有，將來還會有。現金如同氧氣。它存在的時候，你並不在意。它消失幾分鐘，就足以致命。

On March 31, Berkshire's cash level declined as we focused on investing more than $40 billion in a very short period of time during the quarter. We also planned to invest more than $11 billion to acquire Alleghany Corp. Having made a large investment, we still have a lot of cash on hand.

3月31日，伯克希爾的現金水平下降了，因爲我們在一季度中很短的一段時間內集中投資了400多億美元。我們還計劃投資110多億美元，收購阿勒加尼公司。做出了大筆投資之後，我們仍然手握大量現金。

Some of Berkshire's subsidiaries got a line of credit from the bank. I don't know what they want this line of credit for. Berkshire has more money than the banks.

伯克希爾的一些子公司獲得了銀行的信用額度。我不知道它們要這個信用額度有什麼用。伯克希爾比銀行更有錢。

以上內容節選自2022年巴菲特股東大會

由數字人巴菲特播報

本視頻由七華軟件用人工智能技術生成