塞德伯格的禪宗平靜只被許多生物所打擾，其中包括一隻會咬狗的豹子

蓋瑞·史奈德（Gary Snyder）本來會如魚得水。但許多生物讓我們保持警惕，其中包括一隻用狗咬傷人的豹（值得慶幸的是，我們從未遇到過它）。

Veteran investor Dave Marrs unpacks his investment strategy for 2023, revealing his approach, key stock picks, and reflections on past investment decisions.

資深投資者戴夫馬爾斯 (Dave Marrs) 闡述了他的 2023 年投資策略，揭示了他的方法、關鍵股票選擇以及對過去投資決策的反思。

Marrs, who has been investing for over three decades, shared his experiences and insights in an article published by Business Day. He begins by describing a recent family vacation in a remote part of the Cederberg, where the only other person he saw for days was his wife. The peaceful vista and natural surroundings provided an opportunity for reflection and contemplation.

擁有三十多年投資經驗的馬爾斯在《商業日報》發表的一篇文章中分享了他的經驗和見解。他首先描述了最近一家人在塞德伯格的一個偏遠地區度假的情況，幾天來他唯一見到的人就是他的妻子。寧靜的景色和自然環境提供了反思和沈思的機會。

Despite the tranquility of their surroundings, Marrs and his family encountered various creatures that kept them on their toes, including a dog-mauling leopard (which they thankfully never encountered), surreal red Roman “spiders,” an angry bee swarm, a baboon spider on the balcony rafters that appeared large enough to take out a bird, and an armored cricket tucked among the dishes stacked for washing up.

儘管周圍環境寧靜，馬爾斯和他的家人還是遇到了各種讓他們保持警惕的生物，包括一隻用狗咬人的豹子（幸好他們從未遇到過）、超現實的紅色羅馬“蜘蛛” 、一群憤怒的蜂群、一隻狒狒蜘蛛陽台的椽子似乎大得足以取出一隻鳥，還有一隻甲蟋蟀藏在堆放的洗碗碟中。

The encounter that seemed to rattle everyone the most was with large locusts sporting Eastern Province rugby colors, which left Dexter, their stout Jack Russell/mastiff cross, badly shaken despite his usual stoicism.

這次遭遇似乎最讓每個人感到不安的是與東部省橄欖球顏色的大型蝗蟲的遭遇，這讓德克斯特，他們的粗壯的傑克羅素/獒犬雜交品種，儘管他一貫堅忍不拔，但還是受到了嚴重的震動。

Marrs' wife preferred the catch and release option for pest control, keeping a Tupperware container at the ready, while he favored bludgeoning them with a baseball bat. Their son arrived on Christmas Day, which was not a moment too soon as they had begun bickering about how many lemon slices to wedge into their gin and tonics.

馬爾斯的妻子更喜歡用捕捉然後釋放的方式來控制害蟲，她準備了一個特百惠容器，而他則喜歡用棒球棒猛擊它們。他們的兒子在聖誕節那天到達，這還不算太早，因為他們已經開始爭論要在杜松子酒和補品中加入多少檸檬片。

There were two particularly sweltering days when the temperature topped 40°C, and predictably, on both those days, Marrs' trusty bakkie suffered two punctured tires. He had to jack the car up in soft sand and lug around heavy off-road tires.

有兩天特別悶熱，氣溫高達 40°C，不出所料，Marrs 值得信賴的 Bakkie 在那兩天輪胎都被刺破了。他必須在鬆軟的沙地上用千斤頂把車頂起來，然後拖著沉重的越野輪胎。

In between these exertions, Marrs did find time to reflect on his investment strategy. He noted that while he had been investing for three decades, he couldn't claim any great scores. Intense self-scrutiny would put that down to a lack of patience. And, of course, not learning from his mistakes — something he only seemed to manage when he had a bat and ball in hand.

在這些努力之間，馬爾斯確實抽出了時間來思考他的投資策略。他指出，雖然他已經進行了三十年的投資，但他並沒有任何偉大的成績。強烈的自我審視會將其歸咎於缺乏耐心。當然，他也沒有從錯誤中學到教訓——他似乎只有在手裡拿著球棒和球時才能做到這一點。

He famously took a profit on Naspers when it more than doubled from R18 to R42. He did the same with Richemont some years back — and with Hosken Consolidated Investments (HCI) and Sasol (both during their respective Covid collapses). Now, he wonders if he shouldn't have taken a profit at Brait and Kore Potash.

當 Naspers 從 R18 翻倍至 R42 時，他獲利了結。幾年前，他對歷峰集團（Richemont）以及霍斯肯聯合投資公司（HCI）和沙索公司（均在各自的新冠疫情期間倒閉期間）也做了同樣的事情。現在，他想知道自己是否不應該在 Brait 和 Kore Potash 獲利。

Marrs feels he might be best suited for investments that he can practically not exit — such as unlisted whisky business Capevin, which appears to be reaching an intriguing juncture with Campari emerging as a significant shareholder (alongside Remgro).

馬爾斯認為，他可能最適合那些他幾乎無法退出的投資，例如未上市的威士忌企業 Capevin，該公司似乎正處於一個有趣的時刻，金巴利 (Campari) 成為重要股東（與 Remgro 一起）。

So entering the new year, he is trying his level best to invest in counters that he won't get shaken out of by short-term setbacks. So far, he has started building holdings in AB InBev, Reinet, Grindrod, Prosus (a post-list purchase), and Sasol with Bidcorp, HCI, Remgro, African Rainbow Minerals, Oceana Group, AECI, and the JSE on his watch list.

所以進入新的一年，他會盡力投資那些不會被短期挫折動搖的股票。到目前為止，他已開始增持百威英博、Reinet、Grindrod、Prosus（上市後購買）和沙索，並將 Bidcorp、HCI、Remgro、African Rainbow Minerals、Oceana Group、AECI 和 JSE 列入他的觀察名單。

Marrs is now 16.5% up on Sasol. This is certainly a better short-term outcome than he could have reasonably expected. But he will resist capitulating.

Marrs 現在比 Sasol 上漲 16.5%。這無疑是一個比他合理預期更好的短期結果。但他會抵制投降。

While he's positioning himself in earnest for the long-term winner (with my Nasdaq-verskrik son scoffing “At your ripe old age?”), there are developments that can sorely test such a resolve.

雖然他認真地定位為長期贏家（我的納斯達克-verskrik兒子嘲笑「你已經年老了？」），但有些事態發展可以嚴峻考驗這種決心。

Our Hot Stocks cover story illustrates some seriously impressive returns from selected local stocks; Argent Industrial, with an 80%-plus gain, was the one that really caught my eye.

我們的熱門股票封面故事展示了精選本地股票的一些令人印象深刻的回報； Argent Industrial 的漲幅超過 80%，是真正吸引我眼球的。

But that's pedestrian compared with statistics released around the top-performing meme coins for 2024. According to data from kryptocasinos.com (I kid you not), Just a Chill Guy was the top-performing meme coin with a 52,004% increase. Second-placed Andy managed a 47,000% increase, and Degen was a distant third with a 42,318% gain.

但與2024 年表現最好的meme 代幣發布的統計數據相比，這只是平淡無奇的。 ，成長了52,004%。位居第二的 Andy 成長了 47,000%，而 Degen 則以 42,318% 的成長遠遠落後於第三。