不容易指的是看懂生意不容易，简单说的是只有看懂生意是重要的。别人怎么看跟你有什么关系？当股票下跌的时候，你心里充满了恐惧，那就说明你买了你不懂的公司。

Not easy means it's not easy to understand a business. Simple means that only understanding the business matters. What others think has nothing to do with you. When a stock falls and you're filled with fear, it means you bought a company you don't understand.

可信度加权的决策方式比一人一票制有效得多。在桥水，观点越经过验证的人，在决策中的权重要越大。

Credibility-weighted decision-making is far more effective than one-person-one-vote. At Bridgewater, the more tested an opinion, the more weight it carries.

除非你真的了解自己在干什么否则什么也别做。

Unless you really understand what you're doing, don't do anything.

在你买入一只股票之前，你应该能用两分钟向一个十岁的孩子解释清楚：为什么你买这家公司、它为什么好、它为什么便宜。如果你说不出来，你就不应该买。

Before you buy a stock, you ought to be able to explain why you're buying it in a two-minute monologue that a ten-year-old could understand. If you can't, you shouldn't buy it.