本文由 DeepL 工具翻译。

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Sleep, Zakaria and Company, Ltd.

1A, Burnsall Street, London, SW3 3SR, England

T: +44 (0) 20 7101 1960

F: +44 (0) 20 7101 1965

Mr. Warren Buffett

Berkshire Hathaway Inc.

3555 Farnam Street, Omaha, NE 68131, USA

Dear Mr Buffett

After thirteen happy years of running the Nomad Investment Partnership, Zak and I have decided to close the fund. The process requires us to return cash to our investors and so, after many years as shareholders in Berkshire (ten, I think), we have recently sold our shares.

在经营游牧人投资合伙公司十三年后，扎克和我决定关闭基金。这个过程要求我们向投资者返还现金，因此，在作为伯克希尔公司的股东多年（我想是十年）之后，我们最近出售了我们的股份。

It appears to all the world that the performance that Nomad has enjoyed over the years was created by Zak and me. That is not the case. As time goes by, the performance that our clients have received is the capitalisation of the success of the firms in which we have invested. In other words, the real work is done by you and the good people of Berkshire.

在世人看来，Nomad 多年来所取得的业绩是扎克和我共同创造的。事实并非如此。随着时间的推移，我们的客户所获得的业绩是我们所投资的公司成功的资本化。换句话说，真正的工作是由您和伯克希尔的优秀员工完成的。

The purpose of this letter is to say a very big thank you, and to let you know that you have made a real difference. Nomad was not a particularly large fund, but over the years it did make around U$2bn for its clients, which were predominantly charities and educational endowments. Berkshire was a big part of that. That strikes us as capitalism working well.

我写这封信的目的是向你们表示衷心的感谢，并让你们知道，你们已经做出了真正的贡献。Nomad 并不是一个特别大的基金，但多年来它确实为其客户赚取了约 20 亿美元，这些客户主要是慈善机构和教育捐赠基金。伯克希尔是其中很大的一部分。我们认为资本主义运作良好。

For our part, Zak and I are keen to leave the professional industry behind, and spend our time in more caring pursuits. Zak has his various charitable causes and I have it in mind to set up a centre to provide respite care. Both of these activities will require long term funding, and so whilst you will lose us as professional investors, we will be able to repurchase our shares both privately and for the charities that we run. You don't get rid of us that easily!

就我们而言，扎克和我都希望离开专业行业，把时间花在更有爱心的事业上。扎克有自己的各种慈善事业，而我则打算建立一个提供临时护理的中心。这两项活动都需要长期资金，因此，虽然你们会失去作为专业投资者的我们，但我们可以回购我们的股份，既可以用于私人，也可以用于我们经营的慈善机构。你们不会这么容易就把我们甩掉的！

We will be keeping the office, and a new sign will be hung above (our somewhat shabby) front door. We look forward to seeing you at the next AGM, and extend an invitation to visit us at Burnsall Street.

我们将保留办公室，并在（我们有些破旧的）前门上方挂上新的招牌。我们期待着在下一次年度股东大会上与您见面，并诚挚邀请您到 Burnsall 街来做客。

With the warmest regards

Nick Sleep

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# Reply from Warren Buffett

Berkshire Hathaway Inc.

3555 Farnam Street, Suite 1440, Omaha, Nebraska 68131

Telephone: (402) 040-1400

Fax: (402) 340-0470

Warren E. Buffett, Chairman

June 12, 2014

Mr. Nick Sleep

Sleep, Zakaria and Company, Ltd.

1A, Burnsall Street, London, SW3 3SR, England

Dear Nick:

Thanks for sending along the update. You and Zak have made the right choice. I predict you will find life is just beginning.

谢谢你发来的最新消息。你和扎克做出了正确的选择。我预测你们会发现生活才刚刚开始。

Best regards.

Sincerely,

Warren E. Buffett

WEB/db

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