本期内容：

Warren Buffett used his annual letter to Berkshire Hathaway shareholders to defend big firms’ share buybacks and to attack active money managers who give poor advice and overcharge. He highlighted the economic contribution made by “talented and ambitious immigrants”, in an apparent swipe at Donald Trump, and predicted that the economy “will deliver increasing wealth to our progeny far into the future”.

Defend: 为……辩护
Buyback：回购
Overcharge：超额收费
Ambitious：有上进心的
Swipe：抨击
Progeny：后代

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