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楼主:安心乐园 时间:2017年09月23日 13:28:27 点击:0 回复:0
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In a three-hour appearance on CN#39;s Squawk BoxMonday morning, Berkshire Hathaway#39;s (BRKA) Warren Buffett addressed two burning issues in the minds of Apple (AAPL) investors: Apple#39;s depressed stock price and what to do with the 7 billion in cash burning a hole in David Einhorn#39;s pocket.周一早上,在消费者新闻与财经频道(CN)长达3小时的Squawk Box节目中,伯克希尔?哈撒韦公司(Berkshire Hathaway)的沃伦?巴菲特谈到了苹果(Apple)投资者所面临的两大首要问题:苹果低迷的股价和引发大卫?艾因霍(对冲基金绿光资本的基金经理——译注)不满的1,370亿美元的现金。On the pressure to increase the dividend:关于增加股息压力的看法:;I don#39;t own any Apple and I haven#39;t, though I did talk with Steve Jobs a few years ago about what they might do with the cash. The best thing you can do with a business is run it well, and the shares will respond.;“我没有苹果的产品,从来都没有过。然而,在几年前,我的确和史蒂夫?乔布斯讨论过如何处置现金的问题。对于企业来说,最可行的办法就是把业务做好,股价自然会有回应。”On David Einhorn#39;s push to get Apple to issue preferred shares:关于大卫?艾因霍推动苹果发售优先股的看法:;I would ignore him. I would run the business in such a manner as to create the most value over the next five to 10 years. You can#39;t run a business to push the stock price up on a daily basis. Berkshire has gone down 50% four times in its history. When that happens, if you#39;ve got money you buy it. You just keep working on building the value.“如果是我的话,我不会去理他。在我看来,做企业为的是在未来5-10年间创造最大的价值,而不是每天推动股价的上涨。在历史上,伯克希尔的股票曾4度下跌了50%。发生这种情况的时候,如果你有钱的话应该去回购。只要专心创造价值即可。”;I heard from people each time [Berkshire shares went down, saying why don#39;t you do this or that. Pay a dividend. I think Apple#39;s done a good job of building value. They may have too much cash. Now one reason they have so much cash is two thirds of it has not yet been taxed.“每当伯克希尔股价下跌,我就会听到人们说,为什么你不这样做?或者,为什么你不那样做?为什么不派息?我认为苹果在价值创造方面做得很好。他们手头的现金可能太多。他们之所以有这么多现金的一个原因就是,其中的2/3都还没有计税。”;When Steve called me, I said, Is your stock cheap? He said, yes. I said, Do you have more cash than you need? He said, a little. [laughs] I said, then buy back your stock. He didn#39;t. Now, when our stock went from ,000 to ,000 to ,000, I wrote about, we wanted to buy the stock. We didn#39;t quite manage to.“当时,乔布斯给我打电话的时候,我问,公司的股价很低吗?他说,是的。我问,公司是不是有很多用不着的现金。他说,有一点。【笑】我说,那就回购股票吧。他并没有那么做。如今,如果我们的股票从9万美元跌到4万至4.5万美元,我写道,我们会回购股票。只是还没跌倒那个份上。”;But if you could buy dollar bills for 80 cents, it#39;s a very good thing to do.;“然而,假如能用80美分买到价值一美元的东西,肯定非常划算。” /201303/228663America’s Supreme Court delights online retailers and appals media firms联邦最高法院判决——有人欢喜有人忧CALL it academic arbitrage. Supap Kirtsaeng, a Thai student who earned a PhD in mathematics from the University of Southern California, made as much as .2m with some basic maths. He asked friends and family to ship him cheap textbooks from Thailand, which he sold for a handsome profit in America. The books were intended only for sale in Thailand, and Wiley, a publisher of some of the textbooks he sold, sued him for copyright infringement in September 2008 and won. Mr Kirtsaeng appealed, and the case made its way to America’s highest court.Supap Kirtsaeng 是一名泰国学生,在美国南加州大学取得了数学士学位,然而他仅靠简单的算术便赚得了120万美金。Supap Kirtsaeng让朋友和家人从泰国寄来廉价的课本,再在美国高价卖出,所得利润丰厚,可以称之为是“学术套利”。Supap Kirtsaeng卖出的课本原本只限于泰国境内出售,因此,他所售课本的出版商之一,约翰威立父子出版公司,在2008年9月以侵犯版权为名对Supap Kirtsaeng提起诉讼,并打赢了官司。之后,Supap Kirtsaeng提出上诉,该案便一路打到了美国联邦最高法院。On March 19th the Supreme Court ruled that American copyright law does not restrict goods produced abroad from being resold in America. The ruling,widens the reach of the “first sale doctrine”, which gives copyright-holders control of their goods until their first sale; afterwards the purchaser can lend or peddle them for whatever price he chooses. Previously, the first-sale doctrine protected copyright-holders from their works being imported and resold without their permission. A retailer could legally sell a second-hand “Gone with the Wind” DVD, but could not buy it cheaply in Russia, bring it to America and sell it for a low price. With the Supreme Court’s ruling, that protection has been swept away.今年的3月19日,联邦最高法院做出判决,宣布美国版权法不限制国外购进的产品在美国再次出售,扩大了“首次销售原则”的适用范围(“首次销售原则”规定,版权所有者在首次销售前对产品享有控制权;首次销售后,购买者则可以以任意价格租借或贩卖所购产品。)之前“首次销售原则”的规定是,不经版权所有者许可,不得从他国进口并再次销售其产品,这在一定程度上对版权所有者进行了保护。对于零售商来说,售卖二手的《乱世佳人》DVD是合法的,但他们却不能从俄罗斯低价买进这一DVD,进口至美国,再以低于美国市价的价格卖出。然而,在联邦最高法院的这次判决之后,版权所有者将失去这一层法律保护。Publishers, record labels, film studios and other content-owners are shocked. They have often sold the same product in poorer countries for less, knowing that it would not hurt their pricing power at home. Now it will. Big online retailers such as Amazon and eBay could start exploiting these pricing differences on a large scale. Ian Whittaker of Liberum Capital, a broker, thinks this ruling will really hurt academic publishers, such as Pearson (a part-owner of The Economist). They tend to sell identical books for eye-watering prices in America and much less in countries where people cannot afford those prices.包括出版商、唱片公司、电影制片厂在内的一众版权所有者大为震惊。之前,这些公司一贯在较为贫穷的国家降低产品价格,知晓这样做并不会损害其在本国的定价权。然而现在,这种降价策略将对这些公司在美国的定价权产生直接影响。如亚马逊和eBay这样的大型网上零售商很可能会开始利用国际间的价格差大规模牟利。伦敦投行Liberum Capital的股票经纪人Ian Whittaker认为,联邦最高法院的这一判决将损害培生教育出版集团(The Economist股东之一)等学术出版商的利益。这是因为,学术出版商所售课本在美国通常标价极高,但在那些无力承受高价的国家,课本定价则会大为降低。Publishers have aly warned that they may have to turn the page on the old system of letting students in poor countries buy textbooks cheaply. “Some people are predicting a world where price discrimination will no longer be possible,” says Arti Rae, a professor of law at Duke University. Media companies could choose to stagger the release of films or books across countries, delaying the launch of titles in countries where they cannot fetch high prices. However, that may simply encourage piracy. Congress could intervene and rejig 调整 更改 the Copyright Act of 1976, which established the first-sale doctrine. But that would require Washington to get its act together 齐心协力—a plotline so implausible that it would make J.K. Rowling blush.对此,出版商们已经做出了警告,表示他们或许要迫于压力结束让贫穷国家学生低价购买课本的历史了。杜克大学的法学教授Arti Rae表示:“有人认为,今后价格歧视将不复存在。”媒体公司可以控制电影或图书在不同国家的发布时间,在那些无法卖出高价的国家推迟产品投放市场的时间。然而,这样做可能只会让盗版行为更加猖獗。国会可以介入此事,对1976年版权法案(该法案确立了“首次销售原则”)进行调整,解决媒体公司所面临的困境,但是要达成此事恐怕需要联邦政府各方面齐心协力,这种事情估计连写奇幻小说的JK罗琳都觉得不可能发生吧。In any case, an even bigger copyright issue is brewing. The Copyright Act was written before digital media became popular, and the first-sale doctrine does not apply to electronic wares. Should consumers have the right to lend and sell their music files and e-books, even though they do not wear out like their physical counterparts, or should content-producers retain the copyright? If consumers could legally resell their electronic media, it could wipe out the profits of many media firms. ReDigi, a firm that enables people to buy and sell second-hand electronic music files, was sued last year for copyright infringement by Capitol Records, a music label. A judge should rule on the case soon, but it may well be appealed all the way to the Supreme Court.总之,一场更大的版权问题即将到来。1976年撰写版权法案时,数字媒体大流行的时代还没有到来,而“首次销售原则”也不适用于电子产品。在电子媒体产品不会像实体媒体产品一样耗损老化的情况下,消费者是否有权租赁、出售他们的音乐文件夹和电子书?而内容出版者又是否应当保有他们的版权呢?如果消费者有权转售他们的电子媒体产品的话,很多媒体公司的盈利空间将不复存在。唱片商Capitol Records去年以侵犯版权为名起诉了ReDigi公司,而ReDigi公司正是允许人们购买、出售二手电子音乐的。负责该案的法官不日便会做出判决,但这一案件可能会像Supap Kirtsaeng案一样,一路打到联邦最高法院去。 /201303/232630The release of Apple’s latest mobile software system, iOS 8, was riddled with major bugs, and Apple customers actually seem to care. They are adopting the new software update more slowly than they did past releases.苹果(Apple)发布的最新移动软件系统iOS 8出现了各种重大漏洞,而苹果用户似乎对此相当在意。与该公司过去发布新系统时相比,用户现在更新软件的步伐要慢得多。The company said on a webpage that as of Sunday 47 percent of Apple mobile devices are running iOS 8 after it was released about two and a half weeks ago. That is much lower adoption rate than that of the previous version, iOS 7, which was running on about 70 percent of device about two and a half weeks after its release, according to an estimate by Mixpanel. The blog MacRumors earlier spotted the statistic.苹果公司在网站上表示,该公司在大约两周半之前发布了iOS 8系统,截至周日,47%的苹果移动设备运行了该系统。据Mixpanel估计,新系统的采用率远低于之前的iOS 7,在发布大约两周半后,iOS 7的采用率约为70%。客网站MacRumors早些时候公布了这一数据。There are a couple of popular theories for why people might be picking up iOS 8 more slowly. For one, they could have heard about the serious bugs, like the one that temporarily caused some users’ phones to stop working. For another, the software update requires a significant amount of storage on the device — about five gigabytes — when it is installed wirelessly over the Internet.至于人们更新步伐较慢的原因,有两种比较普遍的观点。一个原因是,他们可能对这些严重漏洞有所耳闻,比如有一个漏洞会导致一些用户的手机暂时停止运转。另一个原因是,通过网络无线安装升级软件要求设备拥有大量存储空间——大约5G。Why should anyone care? For Apple, it is a big plus when a large amount of people grab the latest iOS: The newest system is made to work best on newer phones, and that encourages people with older devices to eventually buy new ones. As for third-party software developers selling apps through Apple’s App Store, it is more efficient to focus on building apps for a single audience running the same software system.为什么大家会关心这个问题呢?对于苹果来说,如果大量用户采用新版iOS系统,这将是一个有利因素,新系统为新版iPhone量身制定,在新手机上使用效果最佳,这会促使使用旧设备的用户最终购买新设备。对于通过苹果App Store出售应用程序的第三方软件开发商而言,集中力量为使用同一软件系统的单一用户群开发应用会更有效率。“If you’re a developer, you want the largest possible base of devices to be able to use your app, but if half the people with iPhones are on iOS 7 or earlier, the addressable market becomes a lot smaller,” said Jan Dawson, an independent technology analyst for Jackdaw Research.Jackdaw Research公司独立技术分析师简·道森(Jan Dawson)表示,“如果你是开发商,你会希望尽可能多的设备能够使用你的应用,但如果一半的iPhone用户使用iOS 7或更早的版本,潜在市场会变得小很多。”Apple declined to comment. But the company is expected to release soon the next update, iOS 8.1, which will probably be more stable than the current one and could persuade more people to update.苹果公司拒绝置评。但该公司有望很快发布下一个更新软件iOS 8.1,该软件可能会比当前的版本稳定,或许能吸引更多人进行升级。 /201410/333775

Be careful blowing out the candles. Scientists have found we are more likely to die on our birthday than any other day.吹生日蜡烛的时候要当心哦。科学家发现,一个人在生日当天死亡的几率比其他日子都要高。Researchers who studied more than two million people over 40 years found a rise in deaths from heart attacks, strokes, falls and suicides.研究人员在40年间对200万余人进行了调查研究,发现在生日当天死于心脏病、中风、摔倒和自杀的人更多。William Shakespeare died on his birthday on April 23 1616. The actress Ingrid Bergman also died on her birthday, in August 1982.威廉#8226;莎士比亚死于1616年4月23日——他生日那天。女演员英格丽#8226;褒曼也在1982年8月的生日那天去世。On average, people over the age of 60 were 14 percent more likely to die on their birthdays.平均而言,60岁以上的人在生日当天去世的几率要高出14%。Heart attacks rose 18.6 percent on birthdays and were higher for men and women while strokes were up 21.5 percent - mostly in women.生日当天心脏病发的概率要高出18.6%,男女皆是如此。中风的几率则增加21.5%,女性占多数。Dr Vladeta Ajdacic-Gross of the University of Zurich, said: #39;Birthdays end lethally more frequently than might be expected.#39; He added that risk of birthday death rose as people got older.苏黎世大学的弗拉德塔#8226;阿吉达西克-格罗斯士说:“生日成忌日的情况比预想的更多。”他补充说,随着人们年龄增大,生日死亡的风险也会增大。Canadian data also showed that strokes were more likely on birthdays, especially among patients with high blood pressure.加拿大的数据还显示,在生日那天中风的可能性更大,特别是高血压患者。There was a 34.9 percent rise in suicides, 28.5 percent rise in accidental deaths not related to cars, and a 44 percent rise in deaths from falls on birthdays.生日那天自杀的可能性高出34.9%,和撞车无关的事故死亡可能性高出28.5%,摔死的可能性高出44%。Psychologist prof Richard Wiseman, from the University of Hertfordshire, said: ;It seems to be a valid finding.赫特福德大学的心理学教授理查德#8226;怀兹曼说:“这似乎是个确凿的发现。”;There are two camps - one is the camp that suggests you eat too much and your getting on a bit and that causes you to die.“有两种情况,一种是饮食过量、兴奋过了头,导致猝死。”;The other is a placebo effect . You are knife-edged on death. And you kept yourself going until your birthday. You think #39;that#39;s it I#39;ve had enough I#39;m out of here#39;.;“另一种情况是安慰剂效应。死亡已经步步紧逼,但是你却一直坚持到生日那天。然后你想‘好了,我已经从这个世界得到了足够的东西’。”Dr Lewis Halsey, of the University of Roehampton, said: #39;One interesting finding is that more suicides happen on birthdays, though only in men.罗汉普顿大学的路易斯#8226;哈尔西士说:“一个有趣的发现是,更多的人选择在生日那天自杀,不过只有男性是这样。”#39;Perhaps men are more likely to make a statement about their unhappiness when they think people will be taking more notice of them.#39;“也许男性认为生日这天人们会更多地注意他们,这样他们才更可能宣告自己的不幸。”The study is published in the journal Annals of Epidemiology.该研究发表在《流行病学纪事》杂志上。 /201304/236116

IPAD, considered by many parents as a good pre-education tool for their children, needs to be re-examined after a local expert warned about its social and development consequences.在当地一位专家警告其社会发展后果之后,被许多父母认为是孩子学前教育好工具的IPAD需要重新检验。About 80 percent of children are obsessed with iPads - playing games on them, surfing the Internet and even shopping on China#39;s biggest e-commerce website taobao.com, according to Cao Jin, a professor with the Journalism School at Shanghai#39;s Fudan University.大约80%的孩子痴迷于ipad——他们玩游戏,上网,甚至在中国最大的电子商务网站淘宝上购物,据上海复旦大学新闻学院的曹晋教授说。;iPad has become the most wanted gift on a child#39;s birthday and a yardstick for children to measure if their ;parents love them,; Cao said.“iPad已经成为孩子最希望得到的生日礼物,一把衡量“父母是否爱他们”的标尺,曹教授说。Cao interviewed 100 children and their parents at two local kindergartens in Yangpu District. The survey found 42.6 percent of parents bought the iPads for themselves. Half of them bought it for use for themselves and their children.曹教授采访了杨浦区两个本地幼儿园的100名儿童以及他们的父母。调查发现42.6%的父母是为自己买的ipad。其中一半的人买了它是为自己和孩子使用。Only 7.2 percent of parents bought the iPads strictly for their children.只有7.2%的家长是严格为他们的孩子买了ipad。Among parents who bought iPads for themselves, 72.8 percent of them wanted to catch up with the latest fashion and had a strong interest in the latest technology.在为自己购买ipad的父母中,72.8%的人想跟上最新的时尚,且对最新科技有强烈的兴趣。Those who bought it for their children, however, see iPads as an early education tool with many learning applications and puzzle games that supposedly help children to enrich their knowledge, develop innovation and intelligence while adding fun to their lives as well, the survey showed.然而,那些为孩子买它的人是将ipad作为早期教育工具,因为上面有许多学习应用软件和益智游戏,应该能帮助孩子丰富知识,培养创新能力和开发智力,也为他们的生活增添乐趣,调查显示。;More than half of the parents think iPad has a bigger positive impact on children, rather than the negative side, like it could result in shortsightedness or the children could get addicted to games,; Cao said.“超过半数的家长认为iPad对孩子的积极影响更大,而非消极的一面,就像它可能会导致近视或儿童会沉迷于视频游戏,”曹教授说。Cao said a worrying situation was that children did not want to give up the iPads easily.曹教授说一个令人担忧的情况是孩子们不愿意轻易放弃ipad。;Not only adults but also young children are taking iPad, a metal-coated machine as their closest friend. They cannot sleep without it,; said Cao.“不仅成年人还有年幼的孩子都把iPad,一个金属包裹的机器,作为他们最亲密的朋友。没有它他们睡不着,”曹说。During the survey, Cao also found that families have become quieter. ;Dad was playing computer games; mom was watching American soap drama while the kid was sliding his or her fingers on the screen. No one talks to others anymore,; Cao said.在调查中,曹教授还发现家庭变得更安静。“爸爸在玩电脑游戏,妈妈在看美剧,而孩子在屏幕上滑动他(她)的手指。再没有人与其他人说话了,”曹说。Cao said iPad intruded into the family life without a war while an intangible wall was being built silently between the kids and their parents.曹教授说iPad没有硝烟地入侵了家庭生活,一座无形的墙默默地在父母和孩子之间建立起来。;Preschoolers showed great interest in iPad or similar products. From my survey, more than 90 percent of children said they liked iPad,; Cao said.“学龄前儿童对iPad或类似产品表现出了极大的兴趣。从我的调查中,超过90%的儿童称他们喜欢iPad,”曹说。Reacted emotionally情绪反应iPad has become the new babysitter after TV but the attachment to it may not be healthy for a child#39;s growth. The survey showed nearly 80 percent of children reacted emotionally after their iPads were taken away by their parents.iPad已经成为继电视之后的新保姆,但对它的依附可能对孩子的健康成长不利。调查显示,近80%的儿童当他们的ipad被父母拿走之后会有情绪反应。Parent#39;s supervision did not work all the time as children had learnt to bargain for more time to play. The survey found a third of the children used iPad between 30 minutes to an hour and 64.4 percent played for 10 to 30 minutes. Two six-year-old girls had even learnt to shop on taobao.com, while another four-year-old used iPad to watch animation, play Fruit Ninja or download other games.父母的监督一直没有效果,因为孩子已经学会了讨价还价争取更多时间来玩。调查发现三分之一的孩子使用iPad在30分钟到一个小时之内,64.4%的孩子玩10到30分钟。两个6岁的女孩甚至学会了在淘宝上购物,而另一个4岁的孩子用iPad来看动画、玩水果忍者或下载其他游戏。 /201305/239759

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