Mon, May 24, 2027

From about 1570 to about 1640, during a period of about seventy years, the variation in the proportion between the value of silver and that of corn held a quite opposite course. Silver sunk in its real value, or would exchange for a smaller quantity of labour than before; and corn rose in its nominal price, and, instead of being commonly sold for about two ounces of silver the quarter, or about ten shillings of our present money, came to be sold for six and eight ounces of silver the quarter, or about thirty and forty shillings of our present money.

Source： https://www.gutenberg.org/ebooks/3300
Book I, Chapter XI, paragraph 517

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

又曰：「目無體，以萬物之色為體；耳無體，以萬物之聲為體；鼻無體，以萬物之臭為體；口無體，以萬物之味為體；心無體，以天地萬物感應之是非為體。」

Source： https://zh.wikisource.org/wiki/%E5%82%B3%E7%BF%92%E9%8C%84/%E5%8D%B7%E4%B8%8B
卷下·第277条

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

The class of proprietors contributes to the annual produce, by the expense which they may occasionally lay out upon the improvement of the land, upon the buildings, drains, inclosures, and other ameliorations, which they may either make or maintain upon it, and by means of which the cultivators are enabled, with the same capital, to raise a greater produce, and consequently to pay a greater rent. This advanced rent may be considered as the interest or profit due to the proprietor, upon the expense or capital which he thus employs in the improvement of his land. Such expenses are in this system called ground expenses (depenses foncieres).

Source： https://www.gutenberg.org/ebooks/3300
Book IV, Chapter IX, paragraph 1550

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

王子墊問曰：「士何事？」 孟子曰：「尚志。」 曰：「何謂尚志？」 曰：「仁義而已矣。殺一無罪，非仁也；非其有而取之，非義也。居惡在？仁是也。路惡在？義是也。居仁由義，大人之事備矣。」

Source： https://zh.wikisource.org/wiki/%E5%AD%9F%E5%AD%90/%E7%9B%A1%E5%BF%83%E4%B8%8A
盡心上·33

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

The adoption of the rule by the accounting profession, in fact, was a monumental shift in its own thinking. Before 2018, GAAP insisted – with an exception for companies whose business was to trade securities – that unrealized gains within a portfolio of stocks were never to be included in earnings and unrealized losses were to be included only if they were deemed “other than temporary.” Now, Berkshire must enshrine in each quarter’s bottom line – a key item of news for many investors, analysts and commentators – every up and down movement of the stocks it owns, however capricious those fluctuations may be.

Source： https://www.berkshirehathaway.com/letters/2019ltr.pdf
2019 Chairman's Letter, excerpt 2

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