巴菲特致股东的信（2024年）⑨奥马哈年度聚会

The Annual Gathering in Omaha

奥马哈年度聚会

I hope you will join us in Omaha on May 3rd. We are following a somewhat changed schedule this year, but the basics remain the same. Our goal is that you get many of your questions answered, that you connect with friends, and that you leave with a good impression of Omaha. The city looks forward to your visits.

希望你们能在5月3日来奥马哈与我们相聚。今年的日程安排有些调整，但基本内容不变。我们的目标是让你们的很多问题得到解答，和朋友们好好聚聚，并在离开时对奥马哈留下美好的印象。这座城市期待着你们的到来。

We will have much the same group of volunteers to offer you a wide variety of Berkshire products that will lighten your wallet and brighten your day. As usual, we will be open on Friday from noon until 5 p.m. with lovable Squishmallows, underwear from Fruit of the Loom, Brooks running shoes and a host of other items to tempt you.

和往年一样，我们有一群同样热情的志愿者，为你们提供琳琅满目的伯克希尔产品——让你们钱包变轻、心情变好。照旧，我们将在周五中午至下午5点开放，届时有可爱的Squishmallows毛绒玩具、Fruit of the Loom内衣、Brooks跑鞋，以及其他一大堆诱人的商品。

Again, we will have only one book for sale. Last year we featured Poor Charlie’s Almanack and sold out – 5,000 copies disappeared before the close of business on Saturday.

今年我们同样只卖一本书。去年我们推出了《穷查理宝典》(Poor Charlie's Almanack)，一抢而空——周六闭店前5000本就全部售罄了。

This year we will offer 60 Years of Berkshire Hathaway. In 2015, I asked Carrie Sova, who among her many duties managed much of the activity at the annual meeting, to try her hand at putting together a light-hearted history of Berkshire. I gave her full reign to use her imagination, and she quickly produced a book that blew me away with its ingenuity, contents and design.

今年我们将推出《伯克希尔·哈撒韦60年》(60 Years of Berkshire Hathaway)。2015年，我请凯莉·索瓦 (Carrie Sova) 试着编写一部轻松有趣的伯克希尔发展史。凯莉当时在众多职责中负责协调股东大会的大部分事务。我给了她充分的自由发挥空间，她很快交出了一本书——其独创性、内容和设计都让我叹为观止。

Subsequently, Carrie left Berkshire to raise a family and now has three children. But each summer, the Berkshire office force gets together to watch the Omaha Storm Chasers play baseball against a Triple A opponent. I ask a few alums to join us, and Carrie usually comes with her family. At this year’s event, I brazenly asked her if she would do a 60th Anniversary issue, featuring Charlie’s photos, quotes and stories that have seldom been made public.

后来，凯莉离开伯克希尔去养育家庭，如今已有三个孩子。但每年夏天，伯克希尔办公室的同事们会聚在一起看奥马哈风暴追逐者队 (Storm Chasers) 对阵3A级别对手的棒球赛。我会邀请一些老同事来，凯莉通常也会带着家人参加。今年聚会上，我厚着脸皮问她能否做一个60周年纪念版，收录查理的照片、语录以及鲜少公开的故事。

Even with three young children to manage, Carrie immediately said “yes.” Consequently, we will have 5,000 copies of the new book available for sale on Friday afternoon and from 7 a.m. to 4 p.m. on Saturday.

即便要照顾三个年幼的孩子，凯莉还是立刻答应了。于是，我们将在周五下午和周六上午7点至下午4点供应5000本新书。

Carrie refused any payment for her extensive work on the new “Charlie” edition. I suggested she and I co-sign 20 copies to be given to any shareholder contributing $5,000 to the Stephen Center that serves homeless adults and children in South Omaha. The Kizer family, beginning with Bill Kizer, Sr., my long-time friend and Carrie’s grandfather, have for decades been assisting this worthy institution. Whatever is raised through the sale of the 20 autographed books, I will match.

凯莉拒绝为她在这本新版"查理"特刊上付出的大量心血收取任何报酬。我提议由我们俩共同签名20本，赠送给每位向斯蒂芬中心 (Stephen Center) 捐款5000美元的股东——该中心服务于南奥马哈的无家可归成人和儿童。凯泽家族自我的老友、凯莉的祖父老比尔·凯泽 (Bill Kizer, Sr.) 起，几十年来一直在资助这家值得敬重的机构。通过出售这20本签名书所筹集到的善款，我将等额配捐。

Becky Quick will cover our somewhat re-engineered gathering on Saturday. Becky knows Berkshire like a book and always arranges interesting interviews with managers, investors, shareholders and an occasional celebrity. She and her CNBC crew do a great job of both transmitting our meetings worldwide and archiving much Berkshire-related material. Give our director, Steve Burke, credit for the archive idea.

贝基·奎克 (Becky Quick) 将报道我们周六经过调整的大会。贝基对伯克希尔了如指掌，总能安排与管理者、投资者、股东以及偶尔出现的名人进行精彩的访谈。她和她的CNBC团队在向全世界直播大会实况以及归档大量伯克希尔相关资料方面做得非常出色。存档这个点子要归功于我们的董事史蒂夫·伯克 (Steve Burke)。

We will not have a movie this year but rather will convene a bit earlier at 8 a.m. I will make a few introductory remarks, and we will promptly get to the Q&A, alternating questions between Becky and the audience.

今年我们不会播放电影，而是会在上午8点稍早些开始。我会先做几句开场白，然后立即进入问答环节，由贝基和现场观众交替提问。

Greg and Ajit will join me in answering questions and we will take a half-hour break at 10:30 a.m. When we reconvene at 11:00 a.m., only Greg will join me on stage. This year we will disband at 1:00 p.m. but stay open for shopping in the exhibit area until 4:00 p.m.

格雷格和阿吉特将与我一起回答问题，我们会在上午10:30休息半小时。上午11:00重新开始时，只有格雷格与我同台。今年我们将在下午1:00结束正式日程，但展览区继续开放至下午4:00供大家购物。

You can find the full details regarding weekend activities on page 16. Note particularly the always-popular Brooks run on Sunday morning. (I will be sleeping.)

你们可以在第16页找到周末活动的完整信息。请特别留意周日早晨一直很受欢迎的Brooks跑步活动。（届时我在睡觉。）

My wise and good-looking sister, Bertie, of whom I wrote last year, will be attending the meeting along with two of her daughters, both good-looking as well. Observers all agree that the genes producing this dazzling result flow down only the female side of the family. (Sob.)

我那聪明又漂亮的姐姐伯蒂 (Bertie)——去年信中提到过——将与她的两个同样漂亮的女儿一同出席大会。旁观者一致认为，造就这般耀眼风采的基因只沿着我们家族的女性一脉传承。（呜呜。）

Bertie is now 91 and we talk regularly on Sundays using old-fashion telephones for communications. We cover the joys of old age and discuss such exciting topics as the relative merits of our canes. In my case, the utility is limited to the avoidance of falling flat on my face.

伯蒂今年91岁了，我们每个周日都会用老式电话聊天。我们谈论老年生活的种种乐趣，讨论一些"激动人心"的话题，比如各自手杖的优劣之争。就我而言，手杖的功用仅限于防止自己摔个嘴啃泥。

But Bertie regularly one-ups me by asserting that she enjoys an additional benefit: When a woman uses a cane, she tells me, men quit “hitting” on her. Bertie’s explanation is that the male ego is such that little old ladies with canes simply aren’t an appropriate target. Presently, I have no data to counter her assertion.

不过伯蒂总要压我一头，声称她还享有一项额外好处：她告诉我，当一个女人拄着手杖时，男人就不再对她"搭讪"了。伯蒂的解释是，男性的自尊心使得拄着拐杖的小老太太根本不在他们的目标范围内。目前，我没有数据来反驳她的论点。

But I have suspicions. At the meeting I can’t see much from the stage, and I would appreciate it if attendees would keep an eye on Bertie. Let me know if the cane is really doing its job. My bet is that she will be surrounded by males. For those of a certain age, the scene will bring back memories of Scarlett O’Hara and her horde of male admirers in Gone with the Wind.

但我有我的怀疑。大会时我从台上看不太清楚下面的情况，如果在场的各位能帮我盯着伯蒂，我将不胜感激。请告诉我手杖是否真的奏效了。我敢打赌，她身边依然会被男士团团围住。对于上了点年纪的人来说，这一幕会让你想起《乱世佳人》(Gone with the Wind) 中郝思嘉被一群男性仰慕者簇拥的经典场景。

The Berkshire directors and I immensely enjoy having you come to Omaha, and I predict that you will have a good time and likely make some new friends.

伯克希尔的董事们和我都无比欢迎你们来到奥马哈。我预测你们会度过美好时光，并且很可能交到一些新朋友。

February 22, 2025 Warren E. Buffett Chairman of the Board

2025年2月22日沃伦·E·巴菲特董事会主席