財(cái)富精英勵(lì)志演講第36期:巴菲特:決定你成功的因素(6)

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[00:00.01]But we put in a bid on Wednesday morning. By that, I was in Boston Montana. 星期三的早上，我們出了一個(gè)報(bào)價(jià)。那時(shí)，我已經(jīng)在蒙塔那了。 [00:06.47]And I talked to Bill McDonough at the New York Federal. 我和紐約儲(chǔ)備局的比爾·麥克唐納通了話。 [00:11.08]At 10 o'clock we were having a meet with bankers at 10 o’clock that morning in New York. 他們?cè)?0點(diǎn)會(huì)和一批銀行家碰頭。 [00:17.03]And I called them, we actually..., then he called me in Wyoming before ten, New York time. 我把意向傳達(dá)過(guò)去了。比爾·麥克唐納在10點(diǎn)前給在懷俄明給我打了電話。 [00:24.21]And we made a bid, because they were being done in a long distance, put the outline in the bid. 我們做了一個(gè)報(bào)價(jià)。因?yàn)槭谴蜷L(zhǎng)途電話，所以只給出了報(bào)價(jià)的大概數(shù)。 [00:32.04]But in the end, we bid for 250 million essentially for the net assets but we would have put in 3 and 3/4 billion on top of that. 最終，我們對(duì)2.5億美元的凈資產(chǎn)做了報(bào)價(jià),但我們會(huì)在追加到37.5億左右。 [00:38.40]We’d been 3 billion from Berkshire Hathway,700 million from AIG and 300 million from Goldman Sachs. 伯克希爾·哈撒韋公司分到30個(gè)億, AIG出7個(gè)億, Goldman Sachs出3個(gè)億。 [00:47.44]And we submitted that but we put a very short time limit on that because when you are bidding on 100 million worth of securities that are moving around, 我們把投標(biāo)交了上去，但是我們的投標(biāo)時(shí)限很短，因?yàn)槟悴豢赡軐?duì)價(jià)值以億元計(jì)的證券 [00:55.58]you don't want to leave a fixed price bid out there for very long,because you are going to getting a shot. 在一段長(zhǎng)時(shí)間內(nèi)固定價(jià)格，我也擔(dān)心我們的報(bào)價(jià)會(huì)被用來(lái)作待價(jià)而沽的籌碼。 [01:00.48]In the end the bankers made the deal, but it was an interesting period. 最后，銀行家們把合同搞定了，過(guò)程很有意思。 [01:06.32]The whole (LTCM) Long Term Capital management that I hope most of you are familiar with it. 整個(gè)長(zhǎng)期資金管理基金的歷史，我不知道在座的各位對(duì)它有多熟悉， [01:09.57]But whole story is really fascinating 其實(shí)是波瀾壯闊的。 [01:13.15]because if you take John Meriwether, Eric Rosenfeld, Larry Hillenbrand, Greg Hawkins, Victor Haghani, the two Nobel prize winners: Myron Scholes and Robert Merton. 如果你把那16個(gè)人,像約翰·梅里韋瑟,埃里克·羅森菲爾德,拉里·希任布蘭德,格雷格·霍金斯,維克多·漢格漢尼,還有兩個(gè)諾貝爾經(jīng)濟(jì)學(xué)獎(jiǎng)的獲得者,邁倫·斯科爾斯和羅伯特·默頓 [01:25.38]If you take the 16 of them, that they have about as highest average IQ as any 16 people working together in one business in the country, including Microsoft or what you want to name. 把他們?cè)谝黄?，他們的IQ水平應(yīng)該比像微軟這樣公司里的任何16人加起來(lái)的IQ都高。 [01:35.40]So that an incredible amount of intellect in one room. Now you combine that with the fact with those 16 and had extensive experience in the field they were operating in. 那真的是一個(gè)有著|難以置信的智商的團(tuán)隊(duì)，而且他們所有人在業(yè)界都有著大量的實(shí)踐經(jīng)驗(yàn)。 [01:47.35]These were not a bunch of guys (who) made their money you know selling men's clothing and all of a sudden went into the securities business. 他們可不是一幫在男裝領(lǐng)域賺了錢，然后突然轉(zhuǎn)向證券的人。 [01:56.07]They had in aggregate, the 16, probably had 350 or 400 years of experience doing exactly what they were doing, 這 16個(gè)人加起來(lái)的經(jīng)驗(yàn)可能有350年到400年，而且是一直專精于他們目前所從事的領(lǐng)域。 [02:02.48]and then you throw in the third factor that most of them had virtually all of their very substantial networking with their business. 還有一點(diǎn)，他們所有人在金融界都有著極強(qiáng)大極堅(jiān)實(shí)的關(guān)系網(wǎng)， [02:09.41]So they had their own money up. Hundreds and hundreds of millions of dollars is their own money up. 數(shù)以億計(jì)的資金也來(lái)自于這個(gè)關(guān)系網(wǎng)，其實(shí)就是他們自己的資金。 [02:14.30]Super high intellect and working in a field that they know. On essential they went broke. 擁有超級(jí)智商，在他們內(nèi)行的領(lǐng)域，結(jié)果他們卻破產(chǎn)了。

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But we put in a bid on Wednesday morning. By that,I was in Boston Montana.

星期三的早上，我們出了一個(gè)報(bào)價(jià)。那時(shí)，我已經(jīng)在蒙塔那了。

And I talked to Bill McDonough at the New YorkFederal.

我和紐約儲(chǔ)備局的比爾·麥克唐納通了話。

At 10 o'clock we were having a meet with bankers at10 o’clock that morning in New York.

他們?cè)?0點(diǎn)會(huì)和一批銀行家碰頭。

And I called them, we actually..., then he called me inWyoming before ten, New York time.

我把意向傳達(dá)過(guò)去了。比爾·麥克唐納在10點(diǎn)前給在懷俄明給我打了電話。

And we made a bid, because they were being done in a long distance, put the outline in thebid.

我們做了一個(gè)報(bào)價(jià)。因?yàn)槭谴蜷L(zhǎng)途電話，所以只給出了報(bào)價(jià)的大概數(shù)。

But in the end, we bid for 250 million essentially for the net assets but we would have put in 3and 3/4 billion on top of that.

最終，我們對(duì)2.5億美元的凈資產(chǎn)做了報(bào)價(jià),但我們會(huì)在追加到37.5億左右。

We’d been 3 billion from Berkshire Hathway,700 million from AIG and 300 million from GoldmanSachs.

伯克希爾·哈撒韋公司分到30個(gè)億, AIG出7個(gè)億, Goldman Sachs出3個(gè)億。

And we submitted that but we put a very short time limit on that because when you are biddingon 100 million worth of securities that are moving around,

我們把投標(biāo)交了上去，但是我們的投標(biāo)時(shí)限很短，因?yàn)槟悴豢赡軐?duì)價(jià)值以億元計(jì)的證券

you don't want to leave a fixed price bid out there for very long,because you are going togetting a shot.

在一段長(zhǎng)時(shí)間內(nèi)固定價(jià)格，我也擔(dān)心我們的報(bào)價(jià)會(huì)被用來(lái)作待價(jià)而沽的籌碼。

In the end the bankers made the deal, but it was an interesting period.

最后，銀行家們把合同搞定了，過(guò)程很有意思。

The whole (LTCM) Long Term Capital management that I hope most of you are familiar with it.

整個(gè)長(zhǎng)期資金管理基金的歷史，我不知道在座的各位對(duì)它有多熟悉，

But whole story is really fascinating

其實(shí)是波瀾壯闊的。

because if you take John Meriwether, Eric Rosenfeld, Larry Hillenbrand, Greg Hawkins, VictorHaghani, the two Nobel prize winners: Myron Scholes and Robert Merton.

如果你把那16個(gè)人,像約翰·梅里韋瑟,埃里克·羅森菲爾德,拉里·希任布蘭德,格雷格·霍金斯,維克多·漢格漢尼,還有兩個(gè)諾貝爾經(jīng)濟(jì)學(xué)獎(jiǎng)的獲得者,邁倫·斯科爾斯和羅伯特·默頓

If you take the 16 of them, that they have about as highest average IQ as any 16 peopleworking together in one business in the country, including Microsoft or what you want to name.

把他們?cè)谝黄?，他們的IQ水平應(yīng)該比像微軟這樣公司里的任何16人加起來(lái)的IQ都高。

So that an incredible amount of intellect in one room. Now you combine that with the factwith those 16 and had extensive experience in the field they were operating in.

那真的是一個(gè)有著|難以置信的智商的團(tuán)隊(duì)，而且他們所有人在業(yè)界都有著大量的實(shí)踐經(jīng)驗(yàn)。

These were not a bunch of guys (who) made their money you know selling men's clothing andall of a sudden went into the securities business.

他們可不是一幫在男裝領(lǐng)域賺了錢，然后突然轉(zhuǎn)向證券的人。

They had in aggregate, the 16, probably had 350 or 400 years of experience doing exactlywhat they were doing,

這 16個(gè)人加起來(lái)的經(jīng)驗(yàn)可能有350年到400年，而且是一直專精于他們目前所從事的領(lǐng)域。

and then you throw in the third factor that most of them had virtually all of their verysubstantial networking with their business.

還有一點(diǎn)，他們所有人在金融界都有著極強(qiáng)大極堅(jiān)實(shí)的關(guān)系網(wǎng)，

So they had their own money up. Hundreds and hundreds of millions of dollars is their ownmoney up.

數(shù)以億計(jì)的資金也來(lái)自于這個(gè)關(guān)系網(wǎng)，其實(shí)就是他們自己的資金。

Super high intellect and working in a field that they know. On essential they went broke.

擁有超級(jí)智商，在他們內(nèi)行的領(lǐng)域，結(jié)果他們卻破產(chǎn)了。

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