Mon, Jul 26, 2027

夫珠玉金銀，飢不可食，寒不可衣，然而眾貴之者，以上用之故也。其為物輕微易臧，在於把握，可以周海內而亡飢寒之患。此令臣輕背其主，而民易去其鄉，盜賊有所勸，亡逃者得輕資也。粟米布帛生於地，長於時，聚於力，非可一日成也；數石之重，中人弗勝，不為姦邪所利，一日弗得而飢寒至。是故明君貴五穀而賤金玉。 今農夫五口之家，其服役者不下二人，其能耕者不過百畝，百畝之收不過百石。春耕夏耘，秋穫冬臧，伐薪樵，治官府，給繇役；春不得避風塵，夏不得避暑熱，秋不得避陰雨，冬不得避寒凍，四時之間亡日休息；又私自送往迎來，弔死問疾，養孤長幼在其中。勤苦如此，尚復被水旱之災，急政暴虐，賦斂不時，朝令而暮改。

Source： https://zh.wikisource.org/wiki/%E6%BC%A2%E6%9B%B8/%E5%8D%B7024
卷二十四·上 食·第13则

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有一樂境界、就有一不樂的相対待。 有一好光景、就有一不好的相乗除。 只是尋常家飯、素位風光、纔是個安樂的窩巢。

Source： https://zh.wikisource.org/wiki/%E8%8F%9C%E6%A0%B9%E8%AD%9A
第281则

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

It’s per-share intrinsic value that counts, however, not book value. Here, the news is good: Between 1964 and 2004, Berkshire morphed from a struggling northern textile business whose intrinsic value was less than book into a diversified enterprise worth far more than book. Our 40-year gain in intrinsic value has therefore somewhat exceeded our 21.9% gain in book. (For an explanation of intrinsic value and the economic principles that guide Charlie Munger, my partner and Berkshire’s vice-chairman, and me in running Berkshire, please read our Owner’s Manual, beginning on page 73.)

Source： https://www.berkshirehathaway.com/letters/2004ltr.pdf
2004 Chairman's Letter, excerpt 1

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上之征高麗也，使右領軍大將軍執失思力將突厥屯夏州之北，以備薛延陀。薛延陀多彌可汗既立，以上出征未還，引兵寇河南，上遣左武候中郎將長安田仁會與思力合兵擊之。思力羸形偽退，誘之深入，及夏州之境，整陳以待之。薛延陀大敗，追奔六百餘里，耀威磧北而還。多彌復發兵寇夏州，己未，敕禮部尚書江夏王道宗，發朔、並、汾、箕、嵐、代、忻、蔚、雲九州兵鎮朔州；右衛大將軍代州都督薛萬徹，左驍衛大將軍阿史那社爾，發勝、夏、銀、綏、丹、延、鄜、坊、石、隰十州兵鎮勝州；勝州都督宋君明，左武候將軍薛孤吳，發靈、原、寧、鹽、慶五州兵鎮靈州；又令執失思力發靈、勝二州突厥兵，與道宗等相應。薛延陀至塞下，知有備，不敢進。

Source： https://zh.wikisource.org/wiki/%E8%B3%87%E6%B2%BB%E9%80%9A%E9%91%91/%E5%8D%B7198
卷198·太宗文武大聖大廣孝皇帝下之上貞觀十九年（乙巳，公元六四五年）·第32则

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As soon as the loss of the waggons and horses was generally known, all the owners came upon me for the valuation which I had given bond to pay. Their demands gave me a great deal of trouble, my acquainting them that the money was ready in the paymaster's hands, but that orders for paying it must first be obtained from General Shirley, and my assuring them that I had apply'd to that general by letter; but, he being at a distance, an answer could not soon be receiv'd, and they must have patience, all this was not sufficient to satisfy, and some began to sue me. General Shirley at length relieved me from this terrible situation by appointing commissioners to examine the claims, and ordering payment. They amounted to near twenty thousand pound, which to pay would have ruined me.

Source： https://www.gutenberg.org/ebooks/148
Excerpt 65

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