英文早读第139篇，选自巴菲特年度信，友才翻译。
I can't emphasize too strongly that the quality and quantity of ideas is presently at an all time low - the product of the factors mentioned in my October 9th, 1967 letter, which have largely been intensified since then.
我怎么强烈地强调都不为过当前标的数量和质量都处于历史最低点——在1967年10月9日提到的因素的结果，从那之后大幅加强了。
Sometimes I feel we should have a plaque in our office like the one at the headquarters of Texas Instruments in Dallas which reads:" We don't believe in miracles, we rely on them." It is possible for an old, overweight ball player, whose legs and batting eye are gone, to tag a fast ball on the nose for a pinch-hit home run, but you don't change your line-up because of it.
有时我觉得我们应该向德州仪器在达拉斯总部一样挂一块匾在我们的办公室，上面写着：“我们不相信奇迹，但我们指望他。”那是可能的一个年迈超重的棒球选手，腿脚和击球眼睛都不灵便了，命中一个快球获得本垒打，但是你不会因此去改变你的队形。
We have a number of important negatives operating on our future and, while they shouldn't add up to futility, they certainly don't add up to more than an average of quite moderate profitability.
在未来我们有相当数量的重大不利操作，这些在一起不会导致一无是处，但当然也不会使我们比一般水平更具盈利能力。
Memorabilia
纪念品
As one of my older friends says," Nostalgia just isn't what it used to be." Let's take a stab at it, anyway.
正如我一个年长的朋友所说，“怀旧只是因为不再如往日一样。”无论如何，让我们试试看。
Buffett Associates, Ltd., the initial predecessor partnership, was formed May 5, 1956 with seven limited partners (four family, three close friends), contributing 105,000, and the General Partner putting his money where his mouth was by investing 100. Two additional single-family limited partnerships were formed during 1956, so that on January 1, 1957 combined net assets were 303,726. During 1957, we had a gain of 31,615.97, leading to the 10.4% figure shown on page one. During 1968 I would guess that the New York Stock Exchange was open around 1,200 hours, giving us a gain of about 33,000 per hour (sort of makes you wish they had stayed with the 5-1/2 hour, 5 day week, doesn't it), or roughly the same as the full year gain in 1957.
巴菲特联合公司，最初的早期合伙基金，在1956年5月5日成立，有7个LP（4个家庭，3个密友），贡献10.5万美金，GP也言行一致投资了100美金。2个额外的单一家庭的有限合伙基金在1956年成立，因此在1957年1月1日合并净资产30万3726美金。在1957年，我们获得盈利3万1615.97美金，导致在第一页展示的10.4%的数据。在1968年我猜测纽约证券交易所大约开业1200小时，每小时给我们带来3.3万美金盈利（多少会让你觉得他们保持每周工作5天，每天5.5小时，不是吗），或者说大约和1957年一整年盈利一致。
On January 1, 1962 we consolidated the predecessor limited partnerships moved out of the bedroom and hired our first full-time employees. Net assets at that time were 7,178,500. From that point to our present net assets of 104,429,431 we have added one person to the payroll. Since 1963 (Assets 9,405,400) rent has gone from 3,947 to 5,823 (Ben Rosner would never have forgiven me if I had signed a percentage lease) travel from 3,206 to 3,603, and dues and subscriptions from 900 to 994. If one of Parkinson's Laws is operating, at least the situation hasn't gotten completely out of control.
在1962年1月1日，我们将前序有限合伙基金合并在一起并搬出了卧室，然后雇佣了我们第一位全职员工。在那时净资产使717万8500美金。从那时到现在净资产1亿442万9431美金，我们仅增加了一位员工。从1963年（净资产940万5400美金）租金从3947美金涨到5823美金（本罗斯恩不会原谅我如果我签了按比例支付的租约），差旅费从3206美金涨到3603美金，会费和订阅费从900涨到了994美金。如果帕金森定律是起作用的，至少情况还没有完全失控。
In making our retrospective survey of our financial assets, our conclusion need not parallel that of Gypsy Rose Lee who opined, when reviewing her physical assets on her physical assets on her fifty-fifth birthday:" I have everything I had twenty years ago - it's just that it's all lower."
在做了我们的财务资产回顾调查后，我们的结论和吉普赛罗斯李表达的不太一样，当她在她的55岁生日回顾她的身体资产时说：“我拥有的都是我二十年前已经拥有的——只是都更下垂了。”
34.plaque：牌匾；牙斑
35.headquarter：总部
36.miracle：奇迹；不可思议的事；精品
37.futility：徒劳；无用；无益
38.memorabilia：纪念品；收藏品
39.nostalgia：怀旧；念旧
40.stab：戳；刺伤；刺；打孔
41.payroll：工资名单
42.opine：认为；表达
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