Berkshire
Berkshire, however, has been fortunate.
然而在berkshire我们算是比较幸运，
To the Shareholders of Berkshire Hathaway Inc.
致所有股东
Among those, Berkshire will lead the pack.
在所有的沙包之中，berkshire无疑是站得最直挺的一个。
At Berkshire, we have subnormal process.
在伯克希尔，我们的有低于正常的过程。
Berkshire's experience has been similar.
事实上我们在berkshire的经验正是如此，
Berkshire is at the helm since Buffett's.
伯克希尔是由自巴菲特掌舵的。
Mister Buffett, an investor, is chief of Berkshire Hathaway.
投资商巴菲特先生是伯克希尔·哈撒韦的总裁。
But Berkshire and the China fund do differ in two big ways.
但是，伯克希尔公司和中国基金在两方面大相径庭。
For Berkshire, a publicly listed company, this goes without saying.
对伯克希尔这一上市公司来说，这不言而喻。
Ascot, a village in Berkshire, England, is the home of a famous annual race.
阿斯科特是一个位于英格兰伯克郡的村庄，一个著名年度赛马会的举行地。
Larson's favorite is Warren Buffett's Berkshire Hathaway (BRK.
拉森最青睐沃伦.巴菲特的伯克希尔哈撒韦（BRK.
Moody's Investors Service lowered the Berkshire Hathaway (BRK.
穆迪下调了伯克希尔哈撒韦(BRK.
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Berkshire's past record can't be duplicated or even approached.
伯克希尔的历史记录不可复制，甚至是获取。
As Berkshire's fame and weight has increased, its returns have shrunk.
随着伯克希尔公司名誉和分量的提升，其回报反而缩水了。
At Berkshire, we have found little to do in stocks during the past few years.
在berkshire过去几年，我们在股票市场实在没有什么可以发挥的地方，
Koussevitsky also helped open the Berkshire Music Center at Tanglewood in 1940.
在古瑟维特斯基的协助下，波克夏音乐中心于1940年在坦格伍德建成。
Buffet will leave Coca Cola's board to spend more time at Berkshire.
巴菲特将辞去可口可乐董事，以便投注更多时间在波克夏公司。
At Berkshire, we work to escape the industry's commodity economics in two ways.
在berkshire，我们努力避免自己的公司成为商品化的企业，
At the end of June Berkshire still held 13.8 million shares of Anheuser.
到六月底被可惜而仍然持有安海斯布希1380万美元的股票。
So I trust Berkshire Hathaway while 78-year-old Mr Buffett remains at the helm.
因此，只要现年78岁的巴菲特仍然执掌，我信任伯克希尔哈撒韦。
You may have something better to do with your money than buy Berkshire.
你手中的资金可能会有比买入伯克希尔-哈撒韦更好的投资机会。
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One of the more successful programs has been in Berkshire County, Mass.
美国马萨诸塞州波克夏县就是一个成功的范例。
The Berkshire Music Festival at Tanglewood is in the Berkshire Mountains in the eastern state of Massachusetts.
坦格伍德波克夏音乐节在东部马萨诸塞州的波克夏群山里举行，
Surrey, Buckinghamshire, Hampshire and Berkshire are now among the top 35 most expensive property areas in the world.
萨里郡、白金汉郡、汉普郡及贝克郡现已跻身于全球35个最昂贵地区之列。
The scene is K & W Products, a small Berkshire subsidiary that produces automotive compounds.
场景搬到berkshire 另外一家子公司K & W公司，一家专门生产自动机具的小公司，
The Liverpool captain will celebrate his marriage in front of a star studded guest list in Berkshire.
这位利物浦的队长将会在伯克郡举行他盛大的婚礼，参加婚礼的明星可谓星光璀璨。
Charlie and I try to behave with our managers just as we attempt to behave with Berkshire's shareholders.
我和查理像对待股东一样与我们的经理层相处。
Yet they produced only $11 million in reported after-tax earnings for Berkshire in 1987.
但是他们在1987年总共贡献给berkshire帐面税后盈余却只有一千一百万美元。
His reaction was, first, to place all of his business elsewhere and, second, to buy more stock in Berkshire.
他第一个反应就是赶快把他客户的保单从berkshire转移到别的保险公司，接下来第二的动作就是买进更多berkshire的股票，
The table on the following page shows the major sources of Berkshire's reported earnings.
下表显示berkshire主要盈余的来源，
Our goal is to do what makes sense for Berkshire's customers and employees at all times, and never to add the unneeded.
我们的目标是不论如何都要做对berkshire的客户与员工有意义的事，
At Berkshire, however, my appraisal of our operating managers is, if anything, understated.
不过在波克夏，我个人对于管理干部任何的称赞都是很容易让人理解的，
At Berkshire, the temporarily-helpful "fresh start" adjustment inflated 1987 earnings by $8.2 million.
却让保险公司短期的盈余数字格外亮丽，光是在berkshire1987年的盈余就增加了八百多万美金。
Berkshire's underwriting experience was excellent in 1987, in part because of the lag factor discussed earlier.
berkshire 1987年的承保表现实在是好极了，一方面是因为先前提到的递延效应，
Shortly after yearend, Berkshire sold two issues of debentures, totaling $250 million.
在年度结束后不久，berkshire发行了两期的债券，总共的金额是2.5亿美元，
In the year that Berkshire acquired its controlling interest in Fechheimer - 1986 - profits were a record.
而在berkshire取得所有权的1986年，该公司的获利更创新高，
About 97.2% of all eligible shares participated in Berkshire's 1987 shareholder-designated contributions program.
大约有97.2%的有效股权参与1987年的股东指定捐赠计划
The average Ag-NOR numbers of Duroc, Berkshire, Guan-zhong Black and Bamei were 2.05, 2.00, 3.33 and 2.95 respectively.
杜洛克、巴克夏、关中黑和八眉猪每个细胞Ag-NORs数平均为2.05、2.00、3.33和2.95个。
Includes interest earned by Berkshire (net of related income taxes) of $102 in 2005 and $110 in 2004.
包括伯克希尔2005年和2004年获得的利息1.02亿美元和1.10亿美元。
Says Larson: "For a long time, people have been pricing Berkshire as though Buffett were no longer around.
拉森说：“很长一段时间，人们追捧出的伯克希尔公司（的高股价）好像预示着巴菲特坚持不下去了。
Sunday he said a Berkshire unit is close to buying a midsize company in the U.K., but he didnt elaborate.
他周日表示，伯克希尔-哈撒韦旗下一子公司即将完成对英国一家中型公司的收购，但他没有详细说明。
If you want to duplicate the creativity of the master, Buffett, buy shares of his company, Berkshire Hathaway.
如果你想复制巴菲特大师的创造力，那么购买他的公司伯克希尔哈撒韦的股份。
Bill Gates serves on the board of directors of Berkshire Hathaway and is a long-time bridge buddy of Buffetts.
比尔?盖茨是伯克郡-哈撒韦公司的董事，而且是巴菲特多年的桥牌牌友。
"Kurt Rosentreter, a senior financial advisor at Toronto-based Berkshire Securities Inc.
由于它的存在，下一代人从挥霍财产又变为了自私的佔有财产。
Since then Berkshire has made significant investments in - and today hlds - several currencies.
但自那以后，伯克希尔公司斥购买了相当数量--而且目前仍持有--若干种外汇。
In addition, the holdings of Berkshire, Texas, the second-largest power producer NRG Energy's stock.
此外,伯克希尔增持了得克萨斯州第二大电力生产商NRG能源公司的股票。
Mr.Buffett is paying for Burlington Northern partly with Berkshire shares -- something he has long been loath to do.
巴菲特收购Burlington的支出中将有一部分是伯克希尔的股票，而他一向不愿用本公司股票收购企业。
Berkshire Hathaway can reinvest the cash while waiting to see how much money it eventually has to pay in claims.
伯克希尔哈撒韦可用这笔钱进行再投资，最后再来看必须赔付多少。