伯克希尔没有正式的收购策略手册。我们的策略就是坐在电话旁等它响。

Berkshire has no formal acquisition strategy manual. Our strategy is to sit by the phone and wait for it to ring.

买股票就是买一家真实企业的部分所有权，不是买一张屏幕上来回跳动的彩票。

Buying a stock is buying a piece of a business, not a lottery ticket.

宏观经济无法被可靠预测，靠猜GDP、利率或指数点位赚钱，长期看是徒劳的。把精力放在你能判断的微观价值上。

The macro economy can't be reliably forecast. Trying to profit from guesses about GDP, rates or index levels is futile over time. Spend your energy on micro value you can judge.

市场先生每天都来报价，但他情绪极不稳定——你可以利用他，但不要被他指导。

Mr. Market is there to serve you, not to guide you.