永远不要混淆运气和技能。在牛市中，每只猴子都是股神。只有潮水退去，才能分辨谁穿了泳裤。

Never confuse luck with skill. In a bull market, every monkey is a stock market genius. Only when the tide goes out do you discover who's been swimming naked.

如果一只股票让你睡不着觉，就卖掉它。

If a stock keeps you up at night, sell it.

投资者把大部分时间花在担心股价上，而不是去了解他买的那些公司到底在做什么。

Investors spend most of their time worrying about stock prices instead of trying to understand what the companies they own actually do.

如果投机者最终都赚不到钱，那投机本身就不会存在了。但事实是所有人都相信自己会是例外。

If all speculators lost money, speculation would disappear. But everyone thinks they will be the exception.