流动性不是免费的——当你想卖的时候，别人也想卖。

Liquidity is not free. When you want to sell, everyone else wants to sell too.

不要在干草堆里找针，直接买下整个干草堆！

Don't look for the needle in the haystack. Just buy the haystack!

不要把愿望与事实混淆。不要让偏见阻碍你保持客观。想要取得好结果，你需要冷静而不是情绪化。

Don't confuse what you wish were true with what is really true. Don't let biases prevent you from being objective. To get good results, you need to be rational rather than emotional.

不要用借来的钱投资。杠杆是唯一能让一个正确的判断变成一个灾难的东西——因为它会在你坚持到黎明之前就让你死在黑暗里。

Never invest with borrowed money. Leverage is the only thing that can turn a correct judgment into a disaster — because it can kill you in the dark before you make it to dawn.