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Interestingly, corporate managers have no trouble understanding that point when they are focusing on a business they operate: A parent company that owns a subsidiary with superb long-term economics is not likely to sell that entity regardless of price."Why," the CEO would ask,"should I part with my crown jewel?" Yet that same CEO, when it comes to running his personal investment portfolio, will offhandedly - and even impetuously - move from business to business when presented with no more than superficial arguments by his broker for doing so. The worst of these is perhaps,"You can't go broke taking a profit." Can you imagine a CEO using this line to urge his board to sell a star subsidiary? In our view, what makes sense in business also makes sense in stocks: An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business.

有趣的是企业经理人在认定何者才是自己本业时，从来就不会搞不清楚情况，母公司是不会单纯因为价格因素就将自己旗下最优秀的子公司给卖掉，公司总裁一定会问，为什么要把我皇冠上的珠宝给变卖掉，不过当场景转换到其个人的投资组合时，他却又会毫不犹豫地，甚至是情急地从这家公司换到另一家公司，靠的不过是股票经纪人肤浅的几句话语，其中最烂的一句当属，你不会因为获利而破产，你能想象要是一家公司的总裁用类似的方式建议董事会将最有潜力的子公司给卖掉时，就我个人的观点，适用于企业经营的原则也同样适用于股票投资，投资人在持有一家公司的股票所展现的韧性应当与一家公司的老板持有公司全部的股权一样。

Interestingly, corporate managers have no trouble understanding that point when they are focusing on a business they operate: A parent company that owns a subsidiary with superb long-term economics is not likely to sell that entity regardless of price."Why," the CEO would ask,"should I part with my crown jewel?" Yet that same CEO, when it comes to running his personal investment portfolio, will offhandedly - and even impetuously - move from business to business when presented with no more than superficial arguments by his broker for doing so. The worst of these is perhaps,"You can't go broke taking a profit." Can you imagine a CEO using this line to urge his board to sell a star subsidiary?

Nor was the party over in 1938 for an investor： Though the $40 invested in 1919 in one share had turned into $3，277 by the end of 1938， a fresh $40 then invested in Coca-Cola 16 有趣的是企业经理人在认定何者才是自己本业时，从来就不会搞不清楚情况，母公司是不会单纯因为价格因素就将自己旗下最优秀的子公司给卖掉，公司总裁一定会问，为什么要把我皇冠上的珠宝给变卖掉，不过当场景转换到其个人的投资组合时，他却又会毫不犹豫地，甚至是情急地从这家公司换到另一家公司，靠的不过是股票经纪人肤浅的几句话语，其中最烂的一句当属，你不会因为获利而破产，你能想象要是一家公司的总裁用类似的方式建议董事会将最有潜力的子公司给卖掉时，就我个人的观点，适用于企业经营的原则也同样适用于股票投资，投资人在持有一家公司的股票所展现的韧性应当与一家公司的老板持有公司全部的股权一样。

And we are often our own worst enemy.

我们往往是我们自己最大的敌人。

Period when high-yielding bean, leafy vegetables daily ground transportation from the old to the bean on the market for several help them, the original sale of his house bean lover, will sell 1.5 per catty about, even the worst of the year, just the bean one can also bring over ten thousand dollars of income, but,"or rigid" bean after being left out in the market, prices fell 5 catty corner "when the bean market peak in less than 10 days, loss of no less than 4,000 yuan."

正值菜豆高产期，每天从老叶菜地上输送到市场上的菜豆达数百斤，原本他家菜豆卖相好，每斤能卖1.5元左右，即使是最差的年景，单是菜豆一项，也能带来一万多元的收入，可是，"破相"后的菜豆在市场上遭冷落，每斤价格跌到5角，"正值菜豆上市高峰期，不到10天时间，损失不下4000元。"

Worst of all, his deed could not be excused on the grounds of necessity.

而最难堪的，就在他的行为实在不能以不得已的理由为借口。

It is one of the worst times on record for America.

这是美国有记录以来最严重的时期之一。

The moonkin is one of the best and worst targets on the battlefield at the same time.

鸟德是战场最好的同时也是最坏的目标。

This is one of the worst places to start on the right side.

在右边开始比赛是最糟的地方之一。

I believe that the worst enemy in one's life is oneself.

我认为，最可怕的敌人，在一个人的生命中是自己。

It was, optically, one of the worst U.S. presidential visits to Beijing in memory.

在我记忆里，这一次总统北京之行是最差的一次。

This one mode pays close attention to network credence foundation of the businessman very much.

这一模式非常关注商人的网络信用基础。

Cell morphology of bacterial ghost of Pasteurella multocida was observed by scanning electron microscopy and inactivation ratio was estimated by CFU analysi.

扫描电镜观察多杀性巴氏杆菌细菌幽灵和菌落形成单位评价遗传灭活率。