寻找那些有持续盈利能力的企业。

Look for companies with sustainable profitability.

股票投资应该基于公司的基本面，而不是市场的短期波动。

Stock investing should be based on company fundamentals, not short-term market fluctuations.

当一个以辉煌名声著称的管理团队，接手一个以糟糕经济特征著称的企业时，最终完好无损的往往是后者的名声。

When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.

研究一家公司最好的方法不是坐在办公室里看数据，而是走出去和它的客户、供应商、竞争对手面对面交流。

The best way to research a company is not sitting in your office looking at data, but going out and talking to its customers, suppliers, and competitors face to face.