英文早读第59篇，选自巴菲特年度信，友才翻译。
The Joys of Compounding
复利的乐趣
Now to the pulse-quickening portion of our essay. Last year, in order to drive home the point on compounding, I took a pot shot at Queen Isabella and her financial advisors. You will remember they were euchred into such an obviously low-compound situations as the discovery of a new hemisphere.
现在到了我们文章脉搏加速的部分了。去年，为了将复利的观点带回来，我抨击了伊莎贝拉女王和她的财务顾问。你将会记得他们作为发现新大陆却骗入到了如此明显低复利的境地。
Since the whole subject of compounding has such a crass ring to it, I will attempt to introduce a little class into this discussion by turning to the art world. Francis I of France paid 4,000 ecus in 1540 for Leonardo da Vinci's Mona Lisa. On the off chance that a few of you have not kept track of the fluctuations of the ecu 4,000 converted out to about 20,000.
尽管复利这整个话题有点粗俗，我将试图用艺术世界的方式来讨论。法国法兰西斯一世支付了4000ecu币在1540年得到了罗纳尔多达芬奇的蒙娜丽莎。万一你们有一些人没有跟踪到4000ecu币的波动，换算出来大约是2万美金。
If Francis had kept his feet on the ground and he (and his trustees) had been able to find a 6% after-tax investment, the estate now would be worth something over 1,000,000,000,000,000.00. That's 1 quadrillion or over 3,000 times the present national debt, all from 6%. I trust this will end all discussion in our household about any purchase or paintings qualifying as an investment.
如果法兰西斯能脚踏实地，他（和他的信徒）就已经发现了一个税后6%收益的投资，这笔遗产现在将会价值超过1,000,000,000,000,000.00美元。这1千万亿或者超过当前国家债务的3000倍，都来自于6%。我相信这会在我家结束所有争论关于任何购买或画作相比于一笔投资。
However, as I pointed out last year, there are other morals to be drawn here. One is the wisdom of living a long time. The other impressive factor is the swing produced by relatively small changes in the rate of compound.
然而，如我去年指出的，有一些别的教义要在这里指出。一个是活的久的智慧。另一个重要的影响摇摆不定的复合增长率的微小变化。
36.pulse：脉搏；脉冲；脉率；跳动；搏动
37.quicken：加快；加速；使更活跃
38.take a pot shot：肆意抨击；冷嘲热讽；随意射击
39.be euchred into：被欺骗去做……；被哄骗而陷入……的状态
40.crass：粗俗的；愚钝的；完全的；非常的；冷酷的
41.on the off chance：偶然的机会；万一
42.keep track of：跟上……的进展；保持与……的联系
43.trustee：受托人
44.estate：尤指遗产；工业区；住宅区；个人财产；庄园
45.quadrillion：千万亿
46.household：家庭；一家人；同住一所房子的人；家庭的；家内的
47.moral：道德；寓意；品行；教义
