I got a bracelet a while back with "om ma ni pad me um" mantra on it. Here is a pic of it.

I believe the symbols on it are sanskrit (?). Anyway, the seller said that each syllable in the mantra translates into the following (which I have found are called the six perfections):
Om = generosity or dana
Ma = ethics or the precepts
Ni = patience
Pad = diligence or right effort
Me = concentration or meditation
Um = wisdom or prajna

Is this true? Does that mantra even translate? I know we're not really supposed to be translating mantras in the first place, but there is a translation for "gate, gate, paragate, parasamgate, bodhi, svaha" so I am curious about all this. I like the bracelet, so if this is all wrong I can live with it, at least I think so...