投资公司

Arjun Murti of Goldman Sachs echoes the sentiment of most analysts when he declares:"Exxon Mobil is the only oil company investors will not worry about in terms of foolish spending."

高盛的能源分析师Arjun Murti也同意大多数分析人士的这种观点，他说："埃克森美孚是唯一一个不担心投资得不到回报的石油投资公司。"

DCM has become widely recognized as one of the top Silicon Valley venture firms actively investing in China and Japan.

近年来DCM 一直活跃在中国和日本市场投资，在业内被广泛认为是来自硅谷的顶级创业投资公司之一。80 年代中期，多尔先生联

Chapter 2: Venture capital investment company investment decision procedure design.

第二章：风险投资公司投资决策程序设计。

He is 53 years old and currently a vice chairman at Goldman Sachs, the New York investment bank.

他53岁，当前是纽约投资银行高盛投资公司的副主席。

A US investor may throw off the tax status of the investee company with its investment.

美国投资者有可能挣脱税收地位的投资公司的投资。

A private equity management team's exceptional experience, know-how or valuable business contacts which constitute a vital input for the growth of investee companies.

私人股本投资管理团队的卓越经验，技术诀窍或有价值的商业联系，这些因素构成了对投资公司增长的重要投入。

If our intrinsic value is to grow at our target rate of 15%, our look-through earnings, over time, must also increase at about that pace.

各位可以从下表看出我们是如何计算透视盈余的，不过我还是要提醒各位这些数字有点粗糙，(被投资公司所分配的股利收入已经包含在保险事业的净投资收益项下)。

The following table sets forth our 2000 look-through earnings, though I warn you that the figures can be no more than approximate, since they are based on a number of judgment calls. The dividends paid to us by these investees have been included in the operating earnings itemized on page 15, mostly under Insurance Group: Net Investment Income.

第 42 页共 56 页 www.buffettism.com 巴菲特研究中心 Research Centre for Buffettism 各位可以从下表看出我们是如何计算出 2000 年透视盈余的，不过我还是要提醒各位这些数字只不过是估计数，很多都是基于简单的判断，(被投资公司所分配的股利收入已经列在 15 页的营业利益之内，大部分包含在保险事业的净投资收益项下)。

They have reaped a rich harvest through equity investments while at the same time domestic venture capital firms struggle to survive.

他们有收获，通过股权投资的大丰收，而同时国内的风险投资公司为生存挣扎。

Envision Energy is a leading manufacturer of high quality wind turbines based in China and backed by a European investment firm.

Envision能源公司是中国领先的高品质风力涡轮机制造商，该公司由欧洲投资公司注资建成。

According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm～150rpm时取得最大值，此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世，形体几无变化。