I.H.189.Warren Buffett.Water the flowers and skip over the weeds.
有很多不同的表达方式，“Water the flowers and skip over the weeds.”是目前看到的最好的方式，表达方式的好坏有时候比道理本身更重要。
On September 16th we acquired Lubrizol, a worldwide producer of additives and other specialty chemicals. The company has had an outstanding record since James Hambrick became CEO in 2004, with pre-tax profits increasing from $147 million to $1,085 million. Lubrizol will have many opportunities for “bolt-on” acquisitions in the specialty chemical field. Indeed, we’ve already agreed to three, costing $493 million. James is a disciplined buyer and a superb operator. Charlie and I are eager to expand his managerial domain.
9月16日，我们收购了Lubrizol，这是一家全球性的添加剂及其他特种化学品生产商。自2004年James Hambrick出任CEO以来，公司业绩斐然，税前利润由1.47亿美元增长至10.85亿美元。Lubrizol在特化领域拥有大量“bolt-on”收购机会。事实上，我们已同意了三笔，总计4.93亿美元。James既是有纪律的买家，也是卓越的经营者。Charlie和我希望扩大他的管理版图。
Despite such past miscues, our first priority with available funds will always be to examine whether they can be intelligently deployed in our various businesses. Our record $12.1 billion of fixed-asset investments and bolton acquisitions in 2012 demonstrate that this is a fertile field for capital allocation at Berkshire. And here we have an advantage: Because we operate in so many areas of the economy, we enjoy a range of choices far wider than that open to most corporations. In deciding what to do, we can water the flowers and skip over the weeds.
尽管过去有这些失误，我们对可用资金的首要任务始终是审视其能否被明智地投放到我们各项业务中。我们在 2012 年创纪录的 121 亿美元固定资产投资与“bolt-on”收购，证明了这对 Berkshire 而言是资本配置的一片沃土。而我们在此拥有优势：因为我们涉足经济的诸多领域，所能选择的范围远比大多数公司广。在决定该做什么时，我们可以“浇灌鲜花，跳过野草”。
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