回复@forcode: 巴菲特1985年采访内容的文字版，机器翻译：
//Warren Buffett shared timeless investment wisdom in his first-ever national TV interview nearly 40 years ago. Here are the best 9 quotes.
沃伦·巴菲特（Warren Buffett）在近40年前（1985年）的首次全国电视采访中分享了永恒的投资智慧。这是最好的 9 句名言。
Berkshire Hathaway CEO Warren Buffett sat down for his first national TV interview in 1985.
伯克希尔·哈撒韦公司首席执行官沃伦·巴菲特（Warren Buffett）在1985年接受了他的第一次全国电视采访。
Appearing on the PBS show "Adam Smith's Money World," he offered sage investment advice that he continues to preach today.
他出现在PBS节目“亚当·斯密的金钱世界”中，提供了他今天继续宣扬的睿智投资建议。
Here are the best quotes Buffett dropped in his first TV interview from nearly 40 years ago.
以下是巴菲特在近40年前的第一次电视采访中抛出的最佳报价。
Berkshire Hathaway CEO Warren Buffett is a household name today, as the businessman has consistently been ranked as one of the best investors ever and, subsequently, one of the wealthiest people in the world.
伯克希尔哈撒韦公司首席执行官沃伦·巴菲特（Warren Buffett）如今是家喻户晓的名字，因为这位商人一直被评为有史以来最好的投资者之一，并因此被评为世界上最富有的人之一。
Through his ownership stake in Berkshire Hathaway, Buffett currently has a net worth of about $114 billion. But in 1985, it was closer to $500 million and his name recognition was a lot lower.
通过持有伯克希尔哈撒韦公司的股份，巴菲特目前的净资产约为1140亿美元。但在 1985 年，它接近 5 亿美元，他的名字知名度要低得多。
That year Buffett sat down with host George Goodman of the PBS show "Adam Smith's Money World," in what is thought to be Buffett's first-ever national TV interview.
那一年，巴菲特与PBS节目“亚当·斯密的金钱世界”的主持人乔治·古德曼（George Goodman）坐下来，这被认为是巴菲特有史以来第一次接受全国电视采访。
What's striking is how consistent Buffett's views towards investing have been nearly 40 years later. These are the best pieces of investment wisdom he shared.
令人惊讶的是，近40年后，巴菲特对投资的看法是多么一致。这些是他分享的最好的投资智慧。
1. Number one rule
1. 第一条规则
"The first rule of an investment is don't lose. And the second rule of investment is don't forget the first rule. And that's all the rules there are. If you buy things for far below what they're worth, and you buy a group of them, you basically don't lose money."
“投资的第一条规则是不要亏损。投资的第二条规则是不要忘记第一条规则。这就是所有的规则。如果你以远低于它们的价值购买东西，并且你买了一组，你基本上不会赔钱。
2. Most important quality for investment manager
2. 投资经理最重要的素质
"It's the temperamental quality, not an intellectual quality. You don't need tons of IQ in this business. I mean, you have to have enough IQ to get from here to downtown Omaha, but you do not have to be able to play three-dimensional chess or be in the top leagues in terms of bridge playing or something of the sort. You need a stable personality. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd because this is not a business where you take polls. It's a business where you think."
“这是气质品质，而不是智力品质。在这项业务中，您不需要大量的智商。我的意思是，你必须有足够的智商才能从这里到达奥马哈市中心，但你不必能够下三维国际象棋，也不必在桥牌或类似方面进入顶级联赛。你需要一个稳定的性格。你需要一种气质，既不会从与人群在一起中获得极大的乐趣，也不会从人群中获得极大的乐趣，因为这不是你参加民意调查的行业。这是一个你思考的行业。
3. What most investors get wrong
3. 大多数投资者都错了什么
"They do not really think of themselves as owning a piece of a business. The real test of whether you're investing from a value standpoint or not is whether you care whether the stock market is open tomorrow. If you're making a good investment in a security, it shouldn't bother if they closed down the stock market for five years."
“他们并不真正认为自己拥有一家企业的一部分。从价值的角度来看，你是否在投资的真正考验是你是否在乎明天股市是否开盘。如果你对证券进行了很好的投资，那么如果他们关闭股票市场五年，那就不应该打扰了。
4. On checking stock prices
4. 关于查看股票价格
"All the ticker tells me is the price. And I can look at the price occasionally to see whether the price is outlandishly cheap or outlandishly high but prices don't tell me anything about a business. Business figures themselves tell me something about a business, but the price of a stock doesn't tell me anything about a business. I would rather value a stock or a business first, and not even know the price, so that I'm not influenced by the price in establishing my valuation and then look at the price later to see whether it's way out of line with what my value is."
“股票行情告诉我的只是价格。我可以偶尔看看价格，看看价格是便宜得离奇还是高得离谱，但价格并不能告诉我任何关于企业的信息。商业数据本身告诉我一些关于企业的信息，但股票的价格并不能告诉我关于企业的任何信息。我宁愿先对股票或企业进行估值，甚至不知道价格，这样我在确定估值时就不会受到价格的影响，然后再看价格，看看它是否与我的价值相符。
5. Omaha versus Wall Street
5. 奥马哈与华尔街
Nebraska: "Well, believe it or not, we get mail here and we get periodicals and we get all the facts needed to make decisions. And unlike Wall Street, you'll notice we don't have 50 people coming up and whispering in our ear that we should be doing this or that this afternoon."
内布拉斯加州：“好吧，信不信由你，我们在这里收到邮件，我们收到期刊，我们得到做出决定所需的所有事实。与华尔街不同的是，你会注意到我们没有50个人走过来，在我们耳边窃窃私语，说我们今天下午应该做这个或那个。
New York: "If I were on Wall Street I'd probably be a lot poorer. You get overstimulated on Wall Street. And you hear lots of things, and you may shorten your focus and a short focus is not conducive to long profits."
纽约：“如果我在华尔街，我可能会穷得多。你在华尔街受到过度刺激。而且你听到了很多事情，你可能会缩短你的注意力，而短暂的注意力不利于长期利润。
6. Not owning technology stocks
6. 不持有科技股
"I really haven't [ever bought a technology company]. I haven't understood any of them. Never owned IBM. Marvelous company, I mean a sensational company, but I haven't owned IBM."
“我真的没有（买过一家科技公司）。我都没听懂。从未拥有过 IBM。了不起的公司，我的意思是一家耸人听闻的公司，但我没有拥有IBM。
7. Missing market trends 第7章 市场趋势缺失
"I don't have to make money in every game. I mean, I don't know what cocoa beans are gonna do. There are all kinds of things I don't know about, and that may be too bad. But you know, why should I know all about it? I haven't worked that hard on it."
“我不必在每场比赛中都赚钱。我的意思是，我不知道可可豆会做什么。有各种各样的事情我不知道，这可能太糟糕了。但是你知道，我为什么要知道这一切？我还没那么努力。
8. Waiting for the right pitch
8. 等待合适的音高
"There are no called strikes in the business. The pitcher just stands there and throws balls at you... You don't have to swing at any of them. They may be wonderful pitches to swing at, but if you don't know enough, you don't have to swing. And you can sit there and watch thousands of pitches and finally get one right there where you wanted something that you understand, and then you swing."
“这个行业没有所谓的罢工。投手只是站在那里向你扔球......你不必对他们中的任何一个摇摆不定。它们可能是很棒的挥杆球场，但如果你不够了解，你就不必挥杆。你可以坐在那里看成千上万的投球，最后在你想要的东西的地方找到一个你理解的东西，然后你挥杆。
9. Market timing 9. 市场时机
"If I were being asked to participate in a business opportunity, would it make any difference to me whether I bought it on a Tuesday or a Saturday or an election year or something? It's not what a businessman thinks about in buying businesses. So why think about it when buying stocks? Because stocks are just pieces of businesses."
“如果我被要求参与一个商业机会，我是否在周二或周六或选举年或其他什么地方购买它对我有什么影响？这不是商人在购买企业时所考虑的。那么，为什么要在购买股票时考虑它呢？因为股票只是企业的一部分。//@forcode:回复@鑫鑫-投资:这个视频非常值得多看十遍，年轻时巴菲特的语速惊人！