CPASunnyday

http://blog.sina.com.cn/yanghui927

http://you.video.sina.com.cn/a/3721332-1642004895.html http://you.video.sina.com.cn/a/1473060-1274924433.html

scrapbook: an album into which clippings or notes or pictures can be pasted.

http://video.baidu.com/v?ct=301989888&word=%B2%A8%CA%BF%CC%C3%20%CD%B6%D7%CA&db=0&ty=0&rn=20&nf=0&cl=0&du=0&pd=0&sc=0&order=0&pn=40&fbl=1024

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counterbid (plural counterbids) - (business) A bid made in response to a previous bid by another party.  
Soft Loan - A loan made at no interest or at a below market interest rate. Soft loans usually refer to loans made to developing countries and others in need of financing, but without the ability to borrow at the market rate. Soft loans may also have a longer grace period or a different amortization schedule that makes repayment easier. This is also called soft financing.
Sovereign wealth fund - A sovereign wealth fund (SWF) is a state-owned investment fund composed of financial assets such as stocks, bonds, property, precious metals or other financial instruments. Sovereign wealth funds invest globally. Some of them have grabbed attention making bad investments in several Wall Street financial firms including Citigroup, Morgan Stanley, and Merrill Lynch. These firms needed a cash infusion due to losses resulting from mismanagement and the subprime mortgage crisis.
sway over - (vi.) to cause to swing or move from side to side.
proxy - a person authorized to act for another.
Clawback - 1. Money or benefits that are distributed and then taken back as a result of special circumstances. 2. A retraction of stock prices or of the market in general.
temporary census workers -
红色高棉 Scream Bloody Murder CNN Christiane Amanpour Cambodia

CPASunnyday

http://blog.sina.com.cn/yanghui927

CleaningRoomday

The Merino is an economically influential breed of sheep prized for its wool. Merinos are regarded as having some of the finest and softest wool of any sheep. Poll Merinos have no horns (or very small stubs, known as scurs), and horned Merino rams have long, spiral horns which grow close to the head.

SunnyFocusday

http://wenku.baidu.com/view/7c6dad3383c4bb4cf7ecd1c1.html

http://v.yidajia.cn/show/UUD5Q8ER.shtml

SuddenEnlightenmentday

青岛啤酒BOSS金志国的山东快书、金蝶BOSS徐少春跳起民族舞、太平洋建设BOSS严介和耍起石锁、搜房网老总莫天全的模拟街头制服窃贼的散打功夫。

http://video.sina.com.cn/v/b/2272061-1148765713.html#2273128

http://www.youtube.com/watch?v=3R6kntniDPI

ChattingInjuredday

Boo-Boo: 1 The name of someone you care about,like a child or your man 2 a name a girl will call yah if you say sumthin she think is wrong.
COMPA company

MaybeLostchanceday

贵州茅台酒厂集团董事长季克良
http://v.money.163.com/video/2010/4/V/V/V635659VV.html
gearing ratio: A general term describing a financial ratio that compares some form of owner's equity (or capital) to borrowed funds. Gearing is a measure of financial leverage, demonstrating the degree to which a firm's activities are funded by owner's funds versus creditor's funds.
http://www.flvcd.com/parse.php?kw=http%3A%2F%2Fwww.openv.com%2Fplay%2FSHCBNprog_20081101_6865299.html&flag=&format=

MaybeRewardday

杜家滨
波士堂 第一期

Volunteerboringday

http://video.baidu.com/v?word=%B2%A8%CA%BF%CC%C3+%B3%C2%D4%F3%C3%F1&ct=301989888&rn=20&pn=0&db=0&s=0&fbl=800
http://translate.google.com.au/translate_t?hl=&ie=UTF-8&text=cruiser&sl=en&tl=ar#enarskies%20remaining%20clear%20%0D%0Aswell%0D%0Achill%20factor%0D%0Aseas%20are%20choppy
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Noonecarebutme

http://so.v.163.com/tag/0025/1/default/%E7%B2%BE%E5%93%81%E7%94%B5%E8%A7%86%E8%8A%82%E7%9B%AE/1.html
http://search.joy.cn/search/波士堂%202009.htm
谭智：分众传媒前CEO
《波士堂》软银亚洲赛富基金首席合伙人阎焱
http://so.v.163.com/tag/0085/1/default/%E6%B3%A2%E5%A3%AB%E5%A0%82/2.html
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PrettySunnyday

delicate subject=red light=sore point
http://video.ft.com/v/63004944001/Jul-16-Peter-G-Peterson-on-George-W-Bush-thrift-and-Blackstone
Brian L. Roberts
波士堂 西门子
http://www.flvcd.com/parse.php?flag=&format=&kw=http%3A%2F%2Fwww.56.com%2Fu31%2Fv_NTI2MzMzNDg.html

NoRewardingday

GFC - Global Financial Crisis

truck turntables
loading docks
revolving restaurants

FirstVolunteerday

Cut his own arteries
scatter pricing

DrinkingWaterday

http://msn.biz.smgbb.cn/MsnFinance/list/list_42_3.shtml
http://v.money.163.com/video/2009/12/5/S/V5P35E35S.html
李开复/李连杰/王金龙/臧健和/刘晓松/王军霞/

TouchingMovingday

汶川大地震救援纪实
李有才

Forensic Science is the application of scientific knowledge to solve legal problems.

NotBadday

斐波那契曲线 (fibonacci) . 黄金分割率，或叫神灵构架，或古希腊人所说的“phi”值。
foetal position
Jean-Francois Poinard
The Cook, the Thief, His Wife & Her Lover

http://anthillonline.com/young-entrepreneurs-night-out/
http://www.youth.nsw.gov.au/youth_links/links/work_and_money/setting_up_a_business
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刘行淑-波士堂
美特斯邦威
财富《波士堂》folli follie中国区总裁 谈雪晶
波士堂 理查德布兰森

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PepperMintday

Steel Cap Boots

Music
http://blog.sina.com.cn/bosstown2006

刘永好和妻子相视一笑，说：“我们是一对传统的夫妻，我们都识大体、知廉耻，都有一颗感恩的心，彼此承担着对家庭的责任。无论什么时候，我们都知道家庭对我们的事业和生命的重要性。其实，能够继承祖先传统美德的家庭最稳固，懂得珍惜夫妻缘分的婚姻最持久。”
万寿菊
点点通
波士堂/杨澜
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盈之宝董事长:李莹（上）-> Www.Dare-Sea.Com <（

RainyCPAday

http://www.umiwi.com/

[创业英雄会]节目点播
http://space.tv.cctv.com/podcast/qingnianchuangye/

创业要素
*胆量
*眼光
*组织能力
*责任心
*勇于付出

牛根生 赢在中国
'Fire on all cylinders' - If something is firing on all cylinders, it is going as well as it could. Function very well
原野铁汉Hud (1963)
on the verge of - Close to, on the brink of. This term uses verge in the sense of "the brink or border of something.
BYD - Daimler’s know-how in electric vehicle architecture and BYD’s excellence in battery technology and e-drive systems are a perfect match
e-drive systems - EDrive allows a substantial amount of gasoline to be displaced by electricity when you charge nightly and drive locally.
off the grid - (adj.) Unrecorded, untraceable through normal means.

FreeTravelday

EPC是英文：Engineer，Procure，Construct头字母缩写。其中文含义是对一个工程负责进行“设计、采购、施工”，与通常所说的工程总承包含义相似。

“上善若水”语出《老子》：“上善若水，水善利万物而不争。”意思是说，最高境界的善行就像水的品性一样，泽被万物而不争名利。

《波士堂》：年轻CEO白云峰专访

暮鼓晨钟

GPSLonelyday

路演 - 本意译自英文Roadshow，是国际上广泛采用的证券发行推广方式，指证券发行商发行证券前针对机构投资者的推介活动，是在投融资双方充分交流的条件下促进股票成功发行的重要推介、宣传手段。 路演的主要形式是举行推介会，在推介会上，公司向投资者就公司的业绩、产品、发展方向等作详细介绍，充分阐述上市公司的投资价值，让准投资者们深入了解具体情况，并回答机构投资者关心的问题。

《中国青年创业行动》：创业英雄会（演讲版）

WaitingPayingday

University of Southern California (commonly called USC)
NISSAN QASHQAI/Nissan Versa
Hyundai Elantra
MPV - multi-purpose vehicle
sport utility: a high-performance four-wheel drive car built on a truck chassis
Best Used Cars - Honda Accord/

A 2002 Publisher's Weekly list of the best selling children's books named The Poky Little Puppy by Janette Sebring Lowrey the top selling hardcover title and Charlotte's Web by E. B. White the top paperback.
New Balance for Women/Nike Air Zoom Vomero +2
Benzoyl Peroxide - Best Acne Treatments 5% gel version is the best type of Benzoyl Peroxide as it is the most stable solution and offers the best defense against acne with less dryness and irritation.

http://mp3.sogou.com/music.so?query=chanting+the+chakras+layne+redmond+
http://best.lovetoknow.com/10_Best_Manga_Series

U-turn policy - is a sudden real or apparent change of policy or opinion by a public official, sometimes while trying to claim that both positions are consistent with each other.
Structural unemployment - Workers without jobs whose skills are no longer suitable for or do not match the types of jobs available.
build in - make something an integral part of something else

http://beemp3.com/
A fad, sometimes called a trend, which is a line of general direction of movement.
sheer - absolute: complete and without restriction or qualification
Bond vigilantes are investors who pull the plug on governments they perceive as unable or unwilling to pay their debts.
pull the plug - prevent from happening or continuing; "The government pulled the plug on spending".

http://www.daytondailynews.com/opinion/columnists/paul-krugman-myths-of-austerity-based-on-fairies-and-vigilantes-794556.html
Tail risk, that is the small probability of a high-impact event
out of whack - out of balance or out of adjustment
imputation - a statement attributing something dishonest (especially a criminal offense).
reflate - To reinflate, to inflate again; To restore the general level of prices to a previous or desirable level
hysteria - Behavior exhibiting excessive or uncontrollable emotion
Out of the woods - When you emerge safely (out of danger) after a difficult time we say that you are "out of the woods." Example: Joe was sick two weeks ago and we were very worried, but now it looks like he is out of the woods." The "woods" can be a dark and dangerous place for those who cannot find their way out; we hope that they will return safely "out of the woods". Example: "It is true that the economy is getting stronger, but we are not out of the woods yet." When people overcome difficult challenges and arrive safely "out of" danger we say that they are "out of the woods." Example: "It is halftime and we are winning this game but let's remember that we are still not out of the woods!"
? ringing cry to the battlements
? teetering on the brink

MeetingSunnyday

淋巴腺 lymph (gland)

Market capitalization, often abbreviated to market cap, is a measurement of corporate size that refers to the current stock price times the number of outstanding shares. It denotes the total amount of funds used to finance a firm's balance sheet and is calculated as market capitalization plus debt (book or market value) plus preferred stock. Market capitalization is a function of the price of a firm's stock and may not accurately reflect intrinsic value. It is common for a firm's market capitalization to exceed "book value" (shareholders' equity) because market prices tend to increase at a quicker pace than earnings accumulate due to value placed on expected future growth.

Ben Graham Net Net Deep Value Stocks
How to Read Stock Tables
one year (52 weeks)
Ticker - This is the company's trading symbol - a unique combination of letters which identifies the stock. You may find some newspapers that list an abbreviation of the particular company's name instead of the ticker symbol.
Intangible Assets - Companies often own things of value that cannot be touched, felt, or seen. These consist of patents, trademarks, brand names, franchises, and economic goodwill (which is different than the accounting goodwill we've discussed.
Economic goodwill consists of the intangible advantages a company has over its competitors such as an excellent reputation, strategic location, business connections, etc.). They are normally given completely meaningless values.
Current Assets on the Balance Sheet - This is where companies list all of the stuff that can be converted into cash in a short period of time, usually a year or less. Because these assets are easily turned into cash, they are sometimes referred to as "liquid".
Shares outstanding - are common shares that have been authorized, issued, and purchased by investors. They have voting rights and represent ownership in the corporation by the person or institution that holds the shares. They should be distinguished from treasury shares, which is common stock held by the corporation.

http://www.ehow.com/how_4451380_understand-balance-sheet.html
http://www.ehow.com/how_4425011_calculate-pretax-income.html

TranslatorSunnyday

Deleveraging and the Global Financial Crisis (http://ezinearticles.com/?Deleveraging-and-the-Global-Financial-Crisis&id=1671533)
Deleveraging is the process describing the unwinding of debt. Companies often use leverage (i.e. borrowing) to stimulate their growth, but when they become concerned about defaulting ot about rampant losses, they are forced to use deleveraging in order to lower the risk of default and mitigate their losses.

cost containment - (n.) The features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan.
European Central Bank (ECB), the central bank for the Eurozone of the European Union
US Senate passed the so-called “finreg” overhaul of **US financial regulations**

The game of Chicken, also known as the Hawk-Dove or Snowdrift[1] game, is an influential model of conflict for two players in game theory. The principle of the game is that while each player prefers not to yield to the other, the outcome where neither player yields is the worst possible one for both players. The name "Hawk-Dove" refers to a situation in which there is a competition for a shared resource and the contestants can choose either conciliation or conflict.

Sovereign risk (http://www.anz.com/edna/dictionary.asp?action=content&content=sovereign_risk)
The extra dimension of risk involved in international, as distinct from domestic, transactions. Sovereign risk is an aspect of the credit proposal that is additional to the usual commercial risks such as credit, foreign exchange and transport risks, and is outside the individual borrower's control; it can override the borrower's willingness and ability to repay financial obligations, even though the borrower may be a government. Sovereign risk implies the possibility that conditions will develop in a country which inhibit repayment of funds due from that country, such as exchange controls, strikes or declarations of war. An international lender should (but does not always) compensate for perceived sovereign risk by adjusting the interest rate charged. International banks impose lending limits on their business with foreign countries, although that is not foolproof. Also country risk.

Rudolf Virchow - Opposition to Darwinism
THE BLOODY HISTORY OF COMMUNISM
state-of-art
The $5 TOP-UP! Optus - Latest Recharge Offers
sit on your hands : vi.不予鼓掌(在需要时不采取行动)
Example: Are you going to sit on your hands while she does all the work?
Pedal to the metal - (Australian Slang) be driving a vehicle at top speed: “We were pedal to the metal when we passed a cop”; (English Idioms) accelerator all the way down, flat out He always drives fast - pedal to the metal all the time.

http://www.war173.com/bbs/viewthread.php?tid=14543
The Life That I Have - （英詩）馬克斯

Pat McGrath
http://v.jingtime.com/show/1KFJS2RX.shtml
http://women.sohu.com/s2010/queenpat/
http://www.yoka.com/beauty/mzxp/2009/0121140008.shtml
http://www.valuewalk.com/

Historical valuation based on market cap to GNP
www.ehow.com

HBSValueInvesting

http://www.hbs.edu/centennial/im/inquiry/index.html
http://www.hbs.edu/centennial/im/inquiry/sections/2/a/page43.html
http://www.bengrahaminvesting.ca/Resources/videos.htm

This one speech has explained the final continueing chapter I suspected all along and knew from all my Buffet , Munger and Fischer etc.. etc.. reading he confirmed what I knew and do. He makes no bones at challenging the classes thinking. It requires a massive amount of simple thinking. Not on high level. Knowledge is not the only key to reduce risks but also maximizing the investments hidden profit potential when no one else can see it. It is the insight that unlocks the huge profits. A value investor can tell anyone what he is doing but still escape most people. It is like watching a painter paint. But that doesn’t mean you can paint without dedicating the work to master the art of painting. Same with value investment. Ridiculous returns for great research.

Seth Klarman

Hand Cutting Up Credit Card With Scissors
How to Dispose of Old Credit Cards - (http://www.ehow.com/)
Lady Blue Shangai – The poem: It holds the love
Socrates said. " all I know is that I know nothing "
Find the SuperMoats" IMHO -- this reminds me of the Buffett statement about guaranteeing 50% returns with a smaller portfolio. He is a huge believer in taking concentrated, high conviction positions
http://www.aspeninstitute.org/
To be a qualified analyst. He is an investor with a tremendous work ethic. Value investors see themselves as owners of a business. Therefore, fortunes are up and down with the nature of the business. Demand a margin of safety.

Traits of a Value Investor**
1. Don’t think of yourself as a paper shuffler who constantly buys and sells securities. You think of yourself as a real owner of the business.
2. Only own a small piece of the business, so you demand a huge margin of safety.
3. As an owner, not trading all the time, you think everyone else is different — like Ben Graham’s Mr. Market

On Value Investing**
-Under 5% of all assets are run under value investors, a real minority in the investment world.
-The stock market is created for the other 95% of people, that is where your opportunity and challenge is.
-Biggest challenge: understand whether you are the 5% or the 95%
-It is tempting to do what the other 95% of people do. Emotionally very difficult to be in the 5%, but value investors typically have better returns. The money is really for traders and they tend to amass more assets.
-5% have a spectacular return, but 95% of money probably always resides to somewhere else.
-If you are a value investor, you are probably genetically mutated and comfortable being in the minority. This is unnatural to human beings. You have to be comfortable being by yourself. You have to adopt the idea that you are right because your reason and evidence, not because others agree with you.
Analyst&Researcher&Journalist
-You will probably spend most of your time being an academic researcher rather than a professional. You are a researcher or journalist, with insatiable curiosity. You are trying to figure out how everything works.
-The more you know, the better you are as an investor.
-Politics, science, technology, literature, poetry, everything can affect businesses and help you.
-Occasionally you can find insights that will give you tremendous insights that other people don’t have.
-Then you find if the business is cheap. Is the management good? What else? Why is the opportunity there?
-Fall of 1998: Lu’s search process is very general. Got hooked on value line, loved to read the whole thing from beginning to end. The best kind of education, you should do this if you want encyclopedic knowledge of companies. Go through it page after page, it is enormously helpful.
-First thing Lu checks is new low list. New low P/Es, P/Bs, etc. (From "Standard&Poor 200")
-Does not care where something traded before.
-First looks at valuation. If the valuation doesn’t fit, doesn’t go beyond it. (Q: What is "Valuation"? Why is it helpful? How to valuate it?)
-If you see a low P/B ratio, ask – What is in the book? How much is the book?
Price-book ratio - Compares a stock's market value to the value of total assets less total liabilities (book value). Determined by dividing current stock price by common stockholder equity per share (book value), adjusted for stock splits. Also called Market-to-Book.
Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured, which are created through time and/or effort and that are identifiable as a separate asset. Price to Book ratio or P/B. This measurement looks at the value the market places on the book value of the company. Like the P/E, the lower the P/B, the better the value. BV is considered to be the accounting value of each share. Market value is what the investment community's expectations are and book value is based on costs and retained earnings. One situation where BV can be useful is if the market value is trading below the book value, this rarely happens, but if it does it could mean that the company is undervalued and might be an attractive buy. (http://www.investopedia.com/university/ratios/bookvaluepershare.asp)
Formula:





-Encyclopedic knowledge is helpful when looking across different industries.
-Look at pre-tax and pre-interest earnings. Look from an un-leveraged basis. Figure out how much capital is deployed in the business. Look at ROIC.
An exchange-traded fund (ETF), also known as an exchange-traded product (ETP), is an investment fund traded on stock exchanges, much like stocks.
StarMine’s analyst awards: Judy Hong Goldman Sachs - focus on the process and discipline
-If you are not a good analyst, you will never be a good investor.

Be a Learning Machine
-When an investment opportunity comes, you have to seize it. Devote day and night so you can act quickly. Do everything complete but do it fast. You have to train yourself to jump on opportunity.
-When opportunity presents itself you can smell it. The only way to do that is by training yourself and reading page after page of financial report.
-Uses S&P manuals for viewing foreign stocks.
-As an owner, don’t think about per share information.
-Use your brain, when looking at stock manuals, each page should really only take 5 minutes. Don’t use calculators. Use mental math.