Sat, Mar 13, 2027

侯君集馬病□顙，行軍總管趙元楷親以指沾其膿而嗅之，御史劾奏其諂，左遷括州刺史。

Source： https://zh.wikisource.org/wiki/%E8%B3%87%E6%B2%BB%E9%80%9A%E9%91%91/%E5%8D%B7195
卷195·太宗文武大聖大廣孝皇帝中之上貞觀十四年（庚子，公元六四零年）·第28则

This is a direct reading: the original and source are kept; commentary will be added later.

居卑而後知登高之為危，處晦而後知向明之太露； 守靜而後知好動之過勞，養默而後知多言之為躁。

Source： https://zh.wikisource.org/wiki/%E8%8F%9C%E6%A0%B9%E8%AD%9A
第32则

This is a direct reading: the original and source are kept; commentary will be added later.

During the year, Berkshire's net worth increased by $1.52 billion. More than 98% of this gain came from earnings and appreciation of portfolio securities, with the remainder coming from the issuance of new stock. These shares were issued as a result of our calling our convertible debentures for redemption on January 4, 1993, and of some holders electing to receive common shares rather than the cash that was their alternative. Most holders of the debentures who converted into common waited until January to do it, but a few made the move in December and therefore received shares in 1992. To sum up what happened to the $476 million of bonds we had outstanding: $25 million were converted into shares before yearend; $46 million were converted in January; and $405 million were redeemed for cash. The conversions were made at $11,719 per share, so altogether we issued 6,106 shares.

Source： https://www.berkshirehathaway.com/letters/1992.html
1992 Chairman's Letter, excerpt 1

This is a direct reading: the original and source are kept; commentary will be added later.

上曰：「比見群臣屢上表賀祥瑞，夫家給人足而無瑞，不害為堯、舜；百姓愁怨而多瑞，不害為桀、紂。後魏之世，吏焚連理木，煮白雉而食之，豈足為至治乎！」丁未，詔：「自今大瑞聽表聞，自外諸瑞，申所司而已。」嘗有白鵲構巢於寢殿槐上，合歡如腰鼓，左右稱賀。上曰：「我常笑隋煬帝好祥瑞。瑞在得賢，此何足賀！」命毀其巢，縱鵲於野外。

Source： https://zh.wikisource.org/wiki/%E8%B3%87%E6%B2%BB%E9%80%9A%E9%91%91/%E5%8D%B7193
卷193·太宗文武大聖大廣孝皇帝上之中貞觀二年（戊子，公元六二八年）·第2则

This is a direct reading: the original and source are kept; commentary will be added later.

Take a look again at the 44-year table on page 2. In 75% of those years, the S&P stocks recorded a gain. I would guess that a roughly similar percentage of years will be positive in the next 44. But neither Charlie Munger, my partner in running Berkshire, nor I can predict the winning and losing years in advance. (In our usual opinionated view, we don’t think anyone else can either.) We’re certain, for example, that the economy will be in shambles throughout 2009 – and, for that matter, probably well beyond – but that conclusion does not tell us whether the stock market will rise or fall.

Source： https://www.berkshirehathaway.com/letters/2008ltr.pdf
2008 Chairman's Letter, excerpt 3

This is a direct reading: the original and source are kept; commentary will be added later.