巴菲特和盖茨重返校园英文字幕

1、I was just wondering,what would you consider the worst investment youve ever made?The worst investment l ever made?How long do you have?Ireceived an e-mail a couple weeks back from you and it said, ifl forward it to 20 people,Id get ten thousand dollars. I still havent seen the money yetMy favorite

2、was that they would cover my legal costs for just dollars a month.What do you think is some of the most important or most challenging social issues that we face? Ithink the ssues of equity We got lucky tickets in life.We got tickets that say American.We got tickets that say intelligent.When is the b

3、est piece of advice that you have ever been given?What did I tel ou that impressed you the most?The worlds richest billionaires,Warren Buffet and Bil Gates, give students advice on how to get a job,how to find success, and how to help change the world.Coming next onBuffet and Gates-Back to School.Th

4、e two wealthiest men in the world are dramatically different.Warren Buffet earned his 41 bilion the old-fashioned way by investing in solid old-line companies that sell basic products- insurance, soft drinks, home improvement,and shoes. Bill Gates is the modern genius who earned his 50 billion by cr

5、eating the worlds largest softwarecompany-Microsoft. His innovative products include Windows Offce and XBox 360. In spite of their differences the two men are close friends-and they share a common passion- nteracting with Americas brightest students.Today,Buffet has invited Gates to join him in a di

6、alogue with students from the University of Nebraska School of Business Administration. Buffet earned his bachelors degree here in 1950. There was a girll had a big crush on and she was paying no attention to me. She was going with some guy who played the ukulele sol thoughI should learn to play the

7、 ukulele.Sol got a ukulele and learned to play it and she stll ignored me. Both men relish the opportunity to engage in spirited discussion with members of the next generation of business leaders. The one condition they placed on this event is that no faculty,staff,parents or reporters will be allow

8、ed to talk. Only students will ask the questions.We are all pretty excited-just to have the opportunity to meet with the two richest people in the world Theres a lot of questions.Ive been waiting for this all week. Im pumped.Im excited to see them as people. Got it? Terrific.This will be great.Pleas

9、e give a warm University of Nebraska Lincoln College of Business Administration welcome to Warren Buffett and Bill GatesAs the men take their seats, students selected by the faculty of the business college are ready with questions that have not been shared with either Buffet or Gates. The students b

10、egin with one of the most difficult questions facing business oday.Hello.My names Kim Martin.Im a Finance Major here at the UniversityMy question is: How do you instill ethical leadership throughout your organization and to begin with,how do you know that the management, one level below you,is makin

11、g decisions that would paralle your own?Warren Buffett CEO Berkshire Hathaway.Inc. We have all the money we need. CEO Berkshire Hathaway,Inc.You know,wed like to have more,but we can afford to lose money. But we cant afford to lose reputation. Not a shred of reputation.And therefore,I ask the manage

12、rs.I ask themto judge every action they take not just by legal standards,although obviously thats the first test. But also, by the test whatI call the newspaper test. How would they feel about any given action if they knew it was to be written up the next day in their local paper to be read by their

13、 family,by their friends, by their neighbors, written by a smart, but kind of unfriendly reporter. And if it passes that test, its okay.And I tel them if anything is close to the lines,is out.And they can always call me if they wanted to check something. But if they call me, theres something wrong w

14、ith itprobably anyway.And thats about it.In Microsofts case our top management team, the majority of them joined us a right after whatever degree they got,if any. Now our business in many ways is kind of simple. Its about writing great software.We sit down every year to go through the various things

15、 that people have to be careful about.We have products that have high market share.We do business all over the world. So theres some particular dictates, how you work with suppliers, gifts they might come forward with. But its mainly seeing these people in action that make us confident about their b

16、ehavior.I should mention that l am the only college grad up here.Gates dropped out of Harvard aftertwo years.Yeah,Il be taking my Harvard shirt off pretty soon Gates dropped out of Harvard after two years. cause Ididnt complete the whole course soIdidnt think I should leave But they dont allow you t

17、o wear it just half the day,Buffett applied to Harvard but was turned down.as I understand it.H.Im Tara Steinbach and also a Senior Finance major at the University.And this is for Mr. Gates. Since you joined the Board at Berkshire Hathaway,have you considered possibly taking over for Mr. Buffett whe

18、n he retires?Gates was elected to the Berkshire board in 2004.m gonna take notes on this one if you dont mind.Yah,this being on the Berkshire Board is areal honor for me and ljust joined the Board last December.Ihave to say its not very remunerative.I couldnt even make the flight out here on my on m

19、y Berkshire directors fee. Berkshire board members are paid $900 per year. I couldnt even make the flight out here on my on my Berkshire directors fee. Berkshire board members are paid $900 per year.I didnt hear that part.Microsoft board members are paid $20000 per year. But Berkshires been organize

20、d in a very unique way and of course very different from my business experience,which is all rally related to software and what goes on there. So Im looking forward to being a good advisor. Making sure that Berkshires grooming people for whatever succession eventally has to take place, but it won be

21、 me.Berkshires got a lot of great people and they understand the unique system there and will step up to it.We pay our board,our directors $900 dollars a year and I really would like to pay them more,but Bills so far ahead of me on that Forbes list already,Gates is worth $50 billion Buffett is worth

22、 $42 billion.1I dont want to give him any ammunition.Seriously,were very,very lucky.I mean,there are people that would pay anything to have Bill on their board.And you know,its a real act of friendship that he has come on the Berkshire Board.It takes a lot of time and you know,if the rewards are the

23、re,theyre only psychic.But to have him there, you know,Buffett was born in 1930.Gates was born in 1955.and the small difference in our ages,Im the older actually.I am just explaining. It makes me feel very good to know that Ive got people both of the quality and the experience and everything else to

24、 make that decision when Im not there the next morning, so Im very grateful. Thank you.Here it comes. Bring out his high school. Gates attended Seattles Lakeside High School with Paul AIlen.m Brian Poppe.Im a Junior Actuarial Science Major.My question for you is how did you two meet the first time?

25、Is there like some sort of billionaires conference that I dont know about? Yeah we have these things,but we dont talk about them. No, I met Billon July 5th,1991.And I was out in Washington as a guest of a friend of mine who was an editorial page editor of the Washington Post and she knew Bills paren

26、ts and said were going down to this place on the Hood Canal to meet them-the senior Gates and Bill may show up.And Ill let Bill take it from there.Well, it was a fun event because my mom was very sociable and always,Mary Gates was a Seattle school teacher.you know,getting people together.Mary Gates

27、was a Seattle school teacher. And l, at this time,didnt believe in vacationsYou know, I was totally focused on my job. And so when she said to me youve got to come out and meet with Warren and Katharine Graham and a couple of other people, I said, Mom, Im busy.And you know,and she said,no this will

28、be great.And Ithought, well,Im not sure,you know,Im into this software thing and I didnt know much about investing.And I hadnt thought about it much,but I went out.And so Warren and I met and Id actually come out in a helicopter,I was planning to go back a few hours later. But then,by the end of the

29、 day Iwas there,you know, just talking to Warren.And so it began an unbelievable friendship for me and you know,I can tell that even though we came from different directions, the kinds of things that fascinated us and that we thought were important were very much the same.And so you know,for the las

30、t 1 4years we found every excuse possible to get together whether its,you know,bridge or golf, but really its about talking about the world and thinking about whats going on thats at the core of it. The moral of that is-listen to your mother.Hi.Im Mark Schmitz.Im a Senior Actuarial Science Major.Can

31、 you tell us a little bit about your work-typical work day and how you manage your time to play Halo 2.and that kind of stuff. Halo 2 became the worlds fastest selling video game grossing $125 million in its first day.Well,I dont get to play much Halo 2. Halo 2 became the worlds fastest selling vide

32、o game grossing $125 million in itsfirst day. Halo 2 became the worlds fastest selling video game grossing $125 million in its first day.I have to say when lplay Halo 2 became the worlds fastest selling video game grossing $125 million in its first day.I get slaughtered so fast,its unbelievable-when

33、 Im on XBOX Live.Im a little better at Project Gotham Racing.You know, its nice to have a job where gaming this a serious pursuit when you get to think about that and talk about that. Thats what he says. And playing around with the latest technology whether its,you know,new PCs, looking at new softw

34、are, stting down with researchers. Its whyl think my job is the best. Warren thinks his is the best, but m sure Im right.Anyway,Im in meetings a lot.My calendar gets very full with those.And then at night, after the kids have gone to bed,Im on email a great deal.I get messages during the day. Thats

35、my chance to give long responses. And then over the weekend,I send a lot of mail as well. Itake two weeks a year to just go off and read and think where Im not nterrupted by work or anything else Twice a year Gates goes into seclusion to read more than 100 idea papers.and m just solidly trying to th

36、ink Twice a year Gates goes into seclusion to read more than 100 idea papers.and people get to send me things Twice a year Gates goes into seclusion to read more than 100 idea papers.of that so-calledThink Week.So its a nice mix of things. About 25 per cent of the time, then m out traveling around m

37、eeting with customers-Europe, Asia,and that sort of helps me think, okay do we have the right priorities? What are people responding well to?And what would they like to see us do better?Im on Think Weekabout 50 weeks a year.I work about two.And youd be surprised at my days.mean they are-they are ver

38、y unstructured.No meetings. None.I mean,Idont like meetings.AndI read a lot.ButI wish I were a faster reader and Id you know get more done,but Ido read a lot and Im on the phone a moderate amount. Our businesses run themselves basically out there.My job is allocating capital and thats what Im thinki

39、ng about. But I dont like to have things all packed hour to hour to hour.Bill and l are both extraordinarily lucky.I mean we really get to do what we like to do the way we want to do it,with people that we choose to be around and theyre terrific.I mean weve really got everything our way.And were ver

40、y fortunate.And in his world, he has a different kind of pace thanlhave,but we both love it the way we do it and my guess is that were each the most productive in that particular mode too cause it fits our personalities and aptitudes.My names Topher Vorhies and Im a Senior Finance Major.My question

41、is after the X 360.where do you see video games going?Well XBOX 360s pretty good stuff.Its sort of the first of a generation of what we call high-definition gamesXBox 360 sales were over $1 billion in itsfirst 90 daysof what we call high-definition games where the realistic vision that you get is al

42、most like reality where the realistic vision that you get is almost like reality.The other big thing is, we want gaming to be more social so this idea of LIVE,where your friends can get on,can have spectators and contests and make it into avery social activity. But we think we can draw in people who

43、 are older, people who are younger,more women into it by having more variety of these game types. Now every four or five years, therel be a new game. So after Xbox 3601dont what wel callit.720 or something obvious like that.You only have to go out much further until the visual realism is so good tha

44、t its like trying to improve a CD audio.You know,there are ways encoding audio with more resolution than a compact disk. But people cant tell the difference.So a lot of it will come back to the creativity of those game developers. We will start to have cameras and speech recognition so youl be able

45、to talk to the game instead of just using the triggers. Youl be able to take,you know,a bat or a golf club,and our camera will watch what youre doing and so itl be a bit more like the virtual reality thing in terms of reacting and then its seeing exactly how to respond to that.Hello, Im Pamela Brace

46、y,Im a Senior Marketing Major at the University. If you guys decided to drop a $100 bil would you bother to go back and pick it up?Or would you let a lowly college student like myself go get it?If he drops ten cents on the floor as hes walking out Buffet has license plates that say THRIFTYand he doe

47、snt pick it up,Il pick it upNext,Warren Buffetand Bill Gates give world clss advice to students about good habis making mistakes,and keeping their inner scorecard in check.Hi.My name is Nicole Brockhoft and I am a Senior Business Administration Major here at the University.AndI was just wondering wh

48、at is the best piece of advice youd ever been given and how has it impacted your personal or professional lives?What didl tell you that impressed you the most?Actually,I can answer that.When fist I met Warren,we were talking about a getting together and doing something again.Well he pulled out his c

49、alendar and the pages were so blank and I said, wow,you know,youve managed to avoid geting tied into a lot of kind of meaningless activity And you know,Warren said, yeah you have to be good at saying noand picking the things that really make a difference.And thats one of many things lve learned from

50、 Warren,but thats one ofmy favorites and soI can blame it on him wheneverlm turning things down.Well actually,Itold him the truth isIdont get invited anyplace.I think that l got an awful lot of good advice from my dad. Buffetts fatherwas an investment banker.And he didnt lay it on me.1 mean he just,

51、you know, you picked it from him,I mean he just, you knowHe was also a U.S Congressman from Nebraska.but there was never any of this, do this,do that type of thing at all, but I think he really taught me that its more important in terms of whats on your inner scorecard than your outer scorecard. Som

52、e people get in the position where they-theyre thinking all of the time, but what the worlds going to think of this or that instead of what they themselves think about it. If your inner scorecard, if youre comfortable with that,I think youre going to have a pretty happy life.And I think the people t

53、hat strive too much for the outer scorecard sometimes find it itsalittle hollow when they get all through.Im Mary Reiser. Im an Accounting Major.Id like to know we all consider you to be the financial business experts and we look to you and follow your lead. But when you need advice and feedback abo

54、ut an idea or a decision,Id like to know who do you go to?Well,usuallyIlook in the mirror,to be perfectly honest. The nature of whatIdo means I have to think pretty much independently because if I take a poll, in effect, Im going to do whatever everybody else is doing and I dont think much of that u

55、sually in investment and so l have to have an environment.and I have to have the temperament personally that lets me think for myself And ve got a terific partner, a fellow named Charley Munger, Charlie Mungerwas accepted into Harvard Law School without a bachelors degree.and you cant find anybody a

56、ny smarter,any beter quality at anything, but we think a lot alike.And we do talk things over occasionally,but we don talk them over very often because Iknow how he thinks. He knows how I think. Hes taught me a lot,you know,and why shouldl pay for a phone call ifl know what hes going to say.So, ifl

57、need to get a cabinet around to make decisions or anything like that,I probably shouldnt be running the place,that doesnt bother me to have the responsibility for it, but ljust dont want to put it up to a vote because lve seen too many particularly in the investment world.As you get larger and large

58、r,those making the decisions they get more and more homogenized.And I dont think you will ever get briliant investment decisions out of a large committeFor me,probably the most important decisionsI make are a lot like when take what technologies he companies going to bet on. Those are a bit like War

59、ren-where you really have to be willing to be contrary to leave some things aside and to go into some places that arent very hot. If you get outside of that technical realm,you know,Im super lucky,I have Stephen Ballmer,who is now CEO of Microsoft Steve Ballmer lived down the hall from Gates at Harv

60、ard.I have Stephen Ballmer, Steve Ballmer lived down the hall from Gates at Harvard. and were in each others offices He you know,hes more of a business ype thinker.Im more of atechnology type thinker, but we a lite bit have learned what the other ones going to say over the years so we can give each