英文早读第144篇，选自巴菲特年度信，友才翻译。

Therefore, we will be liquidating holdings throughout the year, working toward a residual of the controlled companies, the one "investment letter" security, the one marketable security with favorable long-term prospects, and the miscellaneous "stubs", etc. of small total value which will take several years to clean up in the Workout category.
因此，我们这一年都将会持续清算我们的持股，致力于只剩下控制类公司，一个“投资信件”里讲的股票，一个有着长期打算的可交易股票和一些将会花几年来清理的套利范畴的价值较低的杂项。

I have written this letter a little early in lieu of the mid-year letter. Once I made a decision, I wanted you to know. I also wanted to be available in Omaha for a period after you received this letter to clear up anything that may be confusing in it. In July, I expect to be in California.
我写下这封信稍早一些作为年中信的替代。一旦我做了个决策，我希望你们知道。我也会继续在奥马哈待一段时间在你们收到这封信之后，以便清理可能信中有困扰的任何事情。在7月，我希望在加州。

Some of you are going to ask, "What do you plan to do?" I don't have an answer to that question. I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20. Therefore, unless I now divorce myself from the activity that has consumed virtually all of my time and energies during the first eighteen years of my adult life, I am unlikely to develop activities that will be appropriate to new circumstances in subsequent years.
你们一些人将会问：“你计划去做什么？”对于这个问题我没有答案。但我知道当我60岁时，我应该尝试实现几个不同的目标而不是那些在20岁时优先级最高的目标。因此，除非我现在能够将我自己从那些在我成年后第1个18年几乎消耗我所有时间和精力的事情中剥离出来，我不太可能开展那些在接下来的岁月里的新环境更合适的活动。

We will have a letter out in the Fall, probably October, elaborating on the liquidation procedure, the investment advisor suggestion, etc...
我们将会在秋季发出一封信，或许在10月，详细阐述清算进程，投资咨询建议，等等。

Cordially,
Warren E. Buffett
热情的，
沃伦E.巴菲特

36.residual：残留的；剩余的；剩余；残余物
37.stub：存根；票根；残余部分；残端
38.lieu：代替；场所；处所
39.divorce：离婚；脱离；分离
40.consume：消费；消耗；耗费；吃喝；烧毁
41.appropriate：挪用；占用；盗用；侵吞；适当的；合适的
42.elaborate：详细描述；详尽阐述；精心制作