巴菲特:如果我是提姆•庫克,我就回購蘋果股票大綱

In a three-hour appearance on CNBC's Squawk BoxMonday morning, Berkshire Hathaway's (BRKA) Warren Buffett addressed two burning issues in the minds of Apple (AAPL) investors: Apple's depressed stock price and what to do with the $137 billion in cash burning a hole in David Einhorn's pocket.
週一早上，在消費者新聞與財經頻道（CNBC）長達3小時的Squawk Box節目中，伯克希爾?哈撒韋公司（Berkshire Hathaway）的沃倫?巴菲特談到了蘋果（Apple）投資者所面臨的兩大首要問題：蘋果低迷的股價和引發大衛?艾因霍（對衝基金綠光資本的基金經理——譯註）不滿的1,370億美元的現金。

On the pressure to increase the dividend:
關於增加股息壓力的看法：

"I don't own any Apple and I haven'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."
“我沒有蘋果的產品，從來都沒有過。然而，在幾年前，我的確和史蒂夫?喬布斯討論過如何處置現金的問題。對於企業來說，最可行的辦法就是把業務做好，股價自然會有迴應。”

On David Einhorn's push to get Apple to issue preferred shares:
關於大衛?艾因霍推動蘋果發售優先股的看法：

"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'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've got money you buy it. You just keep working on building the value.
“如果是我的話，我不會去理他。在我看來，做企業爲的是在未來5-10年間創造最大的價值，而不是每天推動股價的上漲。在歷史上，伯克希爾的股票曾4度下跌了50%。發生這種情況的時候，如果你有錢的話應該去回購。只要專心創造價值即可。”

"I heard from people each time [Berkshire shares went down, saying why don't you do this or that. Pay a dividend. I think Apple'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.
“每當伯克希爾股價下跌，我就會聽到人們說，爲什麼你不這樣做？或者，爲什麼你不那樣做？爲什麼不派息？我認爲蘋果在價值創造方面做得很好。他們手頭的現金可能太多。他們之所以有這麼多現金的一個原因就是，其中的2/3都還沒有計稅。”

"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't. Now, when our stock went from $90,000 to $40,000 to $45,000, I wrote about, we wanted to buy the stock. We didn't quite manage to.
“當時，喬布斯給我打電話的時候，我問，公司的股價很低嗎？他說，是的。我問，公司是不是有很多用不着的現金。他說，有一點。【笑】我說，那就回購股票吧。他並沒有那麼做。如今，如果我們的股票從9萬美元跌到4萬至4.5萬美元，我寫道，我們會回購股票。只是還沒跌倒那個份上。”

"But if you could buy dollar bills for 80 cents, it's a very good thing to do."
“然而，假如能用80美分買到價值一美元的東西，肯定非常划算。”