目前其中一些会是像 Raniere 这样的投资标的，这是一家专门经营林地的公司。它拥有约 400 万英亩土地，其股价相对于这片土地每英亩的实际价值存在显著折价。
Some of them at the moment will be investments such as "Raniere ", a company that specializes in forest lands. It owns approximately 4 million acres, and its shares trade at a significant discount to the actual value per acre of this land.
这是一个我们几十年来取得了相当大成功的领域。我们以前持有过这家公司，也持有过一些在它之前的公司。当我们谈到价格时，这涉及业务层面和人的层面。我们看到某样东西价值在 30 到 40 之间，而它的交易价格是 20。
你可以按每英亩用不同的方式来计算，但它的交易价格远低于私人市场中林地的价值。
This is a sector in which we have achieved considerable success over the decades. We have owned this company before, as well as some of the companies that came before it. When we move on to price, that's the business side and the human side of it.
We see something that is worth between 30 and 40 while it is trading at 20. You can calculate that in different ways per acre, but it is trading at much less than the values of forest land in the private market.