Wise 是核心持仓（约占组合的 50%）；利率上升带来的超额收益充当安全边际/额外加成，而非主要投资逻辑。
逐段跳播
这里我说的是 Wise 和 Booking Holdings，因为这两家公司为客户持有现金。就 Wise 而言，人们使用 Wise 账户，但并不是每个人都能获得利息。所以他们资产负债表上有很多现金——并不真正是他们的现金，而是客户的——但他们从中赚取利息。
And here I'm talking about Wise and Booking Holdings because these companies hold cash for their customers. In the case of Wise, people use the Wise account, but not everyone can be paid interest.
So they have a lot of cash on the balance sheet—not really their cash, for the customers—but they earn interest on that.
所以，如果利率上升，Wise 会赚得更多。但我把这部分超额利息收入只当作一个额外好处。它不是我投资一家公司的原因。当然，我把这个额外好处当作原因之一——并不真正体现在估值里——当作存在安全边际的原因之一。
So if interest rates are going up, Wise is going to earn more. But I see this excess interest income just as a bonus. It is not the reason why I'm investing in a company. Of course, I consider the bonus as one of the reasons—not really into valuations—one of the reasons why there is a margin of safety.
这两家公司，Wise 和 Booking Holdings，约占我投资组合的50%。
These two companies, Wise and Booking Holdings, are about 50% of my portfolio.
这个频道对 $WISE 的历次判断
Ishfaaq Peerally 在这只股票上只有这一条判断。