国际经贸高级英语精读第3单元课文翻译讲课.ppt

Unit ThreeHow Bill Gates Invests His Money;Unit ThreeHow Bill Gates Invests His Money; Here’s how Larson’s job works. He’s in charge of three large pots of money: the two foundations and the $5 billion or so in Gates’ personal portfolio, which is mostly invested through Cascade, though there are other smallish accounts also under Larson’s auspices. Each of these three pools is discretely managed, with its own objectives and investments. And there’s one thing both Gates and Larson want to make perfectly clear. 我们来看拉森是如何经营的。他掌管着三大笔钱：两笔基金外加主要通过Cascade公司投资的约50亿美元的盖茨的个人投资组合。当然，拉森还掌管着几个小账户。这三个基金都是独立经营的，每一部分都有自己的目标和投资方向。有一件事盖茨和拉森都想向外界澄清。; “Michael and I talk regularly about general investment matters, but he has full discretion over the portfolio. Gates says. Larson, his usual grin gone for a second, says, “I wish everyone understood that. When people find out that Cascade has made an investment in something, that’s not Bill Gates. I’ll call Bill about something I’m buying if he needs to know, but Bill might not have any idea what Cascade owns. (There are exceptions to this rule. For instance, Gates makes his own investments in biotech－more on that later.) “迈克尔和我会定期谈一谈投资的总体事宜，但具体投资完全是他说了算，”盖茨如是说。拉森收敛了他那习惯性的露齿一笑，说道，“我希望每个人能理解这一点。当人们发现Cascade进行某项投资的时候，那不是比尔盖茨的决定。如果比尔想知道的话，我会电话通知他我在买什么，但比尔可能一点也不知道Cascade买了什么。”（当然也会有例外的时候，比如盖茨自行决策投资生物技术领域—后文会有所提及）。; So what’s in the portfolios? The Learning Foundation is the simplest. Because Patty Stonesifer and her crew have a fairly constant need for cash, Larson keeps this portfolio mostly in short-maturity U.S. government and corporate fixed-income securities. The William H. Gates Foundation is a little more complicated. Though it may have a smattering of stocks at any given time, it too is almost entirely in bonds—about 75% short-term U.S. governments and corporates. 75% short-term U.S. governments and corporates. 那么，拉森的投资组合里有些什么呢？其中最简单的是教育基金。因为帕蒂史多纳西弗和她的同事对现金有持续的需求，拉森将这笔基金主要投在快要到期