成功投資四準則 Four basic rules for a happier future

1、成功投資四準則 Four basic rules for a happier future    Last week, I sold my shareholdings in two companies. It was a coincidence that both deals completed on the same day. One business I helped to co-found more than nine years before; one I had backed about four years ago. In each I ma

2、de reasonable returns, and for different reasons it seemed the right time to depart.        上周，我出售了自己所持兩家公司的股權。巧合的是，這兩樁交易是在同一天完成的。一家公司是我在9年多前協(xié)助創(chuàng)建的；另一家是大約4年前出資的。兩家企業(yè)都讓我賺得了不錯的利潤，而且也都到了撤出的時候，盡管原因不盡相同。          

3、60;  As the poet Cecil Day-Lewis said: “Theres a kind of release/And a kind of torment in every goodbye for every man.” So it feels appropriate, as the year draws to a close, a time when we look both back and forward at the start of a new year, to reflect on what it means to be a partner in an

4、enterprise.        詩人塞西爾戴-路易斯(Cecil Day-Lewis)曾說過：“對每一個人說的每一聲再見，都同時夾雜著幾分解脫與幾分痛苦?！币虼?，歲末年初正是我們回顧與展望、反思作為一家企業(yè)合伙人意義的恰當時機。             The first proper companies were called joint-stock, and that is the na

5、ture of a commercial undertaking a combination of management and capital for mutual advantage. The journey together is frequently haphazard, for commercial life is an unpredictable rollercoaster for most of us. The invention of these limited liability corporations made possible the modern world: how

6、 they arise, and how they die, matters.        最早的嚴格意義上的公司叫做股份制公司，而這是商業(yè)企業(yè)的本質管理與資本的結合，以發(fā)揮相互的優(yōu)勢。這種結伴而行的旅程，往往無規(guī)律可循，因為對我們大多數(shù)人來說，商業(yè)生活是不可預測的過山車。這些有限責任公司的發(fā)明，使得現(xiàn)代世界成為可能：它們如何興起、及如何破敗都十分重要。             With exp

7、erience, I have come to the conclusion that true success in a long-term venture has four important ingredients. First, you must make a profit. This provides the working capital for the next project and is the essence of capitalism; without financial gain, the risks seem pointless. But one should not

8、 allow this imperative to overwhelm the others if it is the only measure, then the job is not well done. A project should be profitable in every sense, if at all possible.        憑借以往的經驗，我得出了這樣一個結論：一項長期投資的真正成功須具備4個要素。首先，你必須賺錢。這能為下一個項目提供營運資本，而且也是資本主義的神髓所在；如果沒有財

9、務收益，所有冒險看起來都毫無意義。但我們不應允許這一必要條件凌駕于其它標準之上如果它是唯一的衡量標準，那么工作就沒有做好。如果可能的話，從各種意義上講，項目都應該是有利可圖的。             The second element is that you should learn from the experience. If you have not acquired a business education of sorts an understanding of

10、 an industry, how a team works together, how to behave when things go wrong then you are not improving yourself and probably not trying hard enough. Lifelong learning is meant to be a cornerstone of a happy existence this is one way of finding it. A career of endless repetition would be very dull; b

11、etter by far to be engaged in at least an attempt at regular renewal.        第二個要素是，你應該汲取經驗。如果你沒有從中得到某種商業(yè)上的教育對某個行業(yè)的了解、一個團隊如何合作、出問題時如何表現(xiàn)說明你沒有在提高自身，或努力不夠?；畹嚼蠈W到老應該是幸福生活的基石而這是找到它的一個路徑。一種不斷重復的職業(yè)會非常乏味；至少去嘗試經常改變要好得多。        

12、60;    Third, you should have recruited some friends. It is by no means easy to become close and lasting allies with business partners. You may have nothing in common apart from work; the stress of sharing the effort and spoils might undermine the relationship. But if you can emerge f

13、rom the compromises with real comradeship, then you have done well.        第三，你應該結交一些朋友。與商業(yè)伙伴成為親密且持久的盟友決非易事。除了工作以外，你們可能沒有任何共同點；分享成就與利益的壓力也許會破壞你們之間的關系。但如果你能通過彼此妥協(xié)形成真正的戰(zhàn)友關系，那么你就很成功。             Finally,

14、 the business should have generated jobs and created wealth. These outcomes will normally follow naturally from any capital gain, but not always. Occasionally, a downsized operation can be more profitable and valuable. But the greatest satisfaction for any owner comes from having contributed to the

15、expansion of an enduring business, so increasing the overall prosperity of society.        最后，企業(yè)就應該創(chuàng)造就業(yè)機會和財富。通常而言，有了資本收益，也就自然而然地有了這些東西，但情況并非總是如此。偶爾，縮小業(yè)務規(guī)?？赡軙嶅X，也更有價值。但對于任何所有者而言，最大的滿足感來自于自己曾為一家持續(xù)發(fā)展企業(yè)的擴張出過力，因而提升了社會的總體繁榮。       

16、;      Not every purchase will match up on every measure, for sure. But if you hit the right notes more than half the time, there should be no complaints. This sort of investing is a hazardous endeavour and, if you never allow for mistakes, you are likely to be disappointed.

17、        當然，并非每筆投資都能符合所有的標準。但如果你能符合一半以上的標準，你就無須抱怨。這種投資是一項冒險的嘗試，如果你從不允許犯錯，那么結果可能會讓你失望。             From time to time I pass a lorry carrying the logo of a company I once owned or someone mentions a rest

18、aurant or a shop that belonged to me or I am struck by some other reminder of a previous involvement. When that happens, I feel both a tinge of sadness but also a sense of pride that I played at least a part in its history.        有時，我會經過一輛帶有我曾持股公司標識的卡車，或者有人會提

19、到我曾擁有的一家餐廳或商店，又或者，一些其它東西觸動了我，讓我想起自己曾參與過的東西。在這種時候，我既會有一絲感傷，也會感到驕傲我至少曾在它們的歷史上扮演過一定的角色。             And, of course, with each final curtain there follows the liberation of funds and time, and one is free again to focus on a new challenge. Ther

20、e is never a shortage of those. As the philosopher Arthur Schopenhauer said: “Every parting gives a foretaste of death; every coming together again a foretaste of the resurrection.”        而無疑，每一次的謝幕，必然伴隨著資金與時間上的解放，而后你又重獲自由，可以專注于新的挑戰(zhàn)。這樣的事情屢見不鮮。正如哲學家阿瑟叔本華(Arthur Schopenhauer)所言：“每一次生離都仿佛是一次死別；每一次重聚又帶來復活的喜悅?！?#160;