Nefndr vas, ungr sás efndi,
ýta vǫrðr, í Gǫrðum,
œski-Baldr, við aldir,
Ôleifr fyr mér, stála.
Eldstøkkvir sásk ekki
(ǫll hugði vel snjǫllum)
hafs nema hilmi jǫfra
(heimsbyggð syni Tryggva).
Œski-Baldr stála, vǫrðr ýta, sás ungr efndi við aldir í Gǫrðum, vas nefndr Ôleifr fyr mér. Hafs eldstøkkvir sásk ekki nema hilmi jǫfra; ǫll heimsbyggð hugði vel snjǫllum syni Tryggva.
The wishing Baldr of steel weapons [WARRIOR], guardian of men [RULER], who, [when] young, performed [deeds] against men in Russia, was named to me [as] Óláfr. The dispenser of the fire of the sea [(lit. ‘fire-dispenser of the sea’) GOLD > GENEROUS MAN] feared nothing except the ruler of princes [= God]; all the peopled world thought well of the valiant son of Tryggvi [= Óláfr].
[2] í Gǫrðum ‘in Russia’: Garðar (Russia) is referred to as Óláfr’s fóstrjǫrð ‘foster-land’ in st. 4/8. Early Latin and vernacular prose sources report that Óláfr was fostered by King Valdamarr (Vladimir): see HSt Rst 2/2 and Note, and for doubts about the historicity of these accounts, see Introduction to HSt Frag 1.