Pauli congratulates Heisenberg on the receipt of the Nobel prize. He gives some comments and calculations on the theory of holes. he believes that the problem of the neutrino is connected with that of holes.

Pauli doesn't accept Heisenberg's arguments in his letter of the 12 November 1933 and shows by calculations his objections.

Pauli compares Heisenberg's formalism with that of Dirac and gives some calculations of certain matrices.

Pauli gives critical remarks and some calculations concerning Borns' electrodynamics and his ideas on gravitation.

Pauli makes additional remarks to the calculations on the theory of holes.

Pauli writes of his impression of Dirac's manuscript and gives a short precis of Dirac's ideas. He makes more remarks on the problem of self-energy.

Pauli writes about the question of finiteness or infinity of charge density in the hole theory.

Pauli comments on Heisenberg's letter and his introduction of the square of fluctuation in zero approximation.

Pauli indicates a weakness in Dirac's theory.

Pauli makes an analysis of his own psychological state during recent years. He comment on a book by Buber which Kronig has sent him. He is impressed by Buber's subject-object philosophy and regards the concept as a fundamental one.