把鸡蛋放在一个篮子里，然后看好那个篮子。

Put all your eggs in one basket, and then watch that basket very carefully.

投资于那些回购自己股票的公司，这是对未来的信心信号。

Invest in companies that buy back their own shares; this is a signal of confidence in the future.

没有信仰的人是需要找一个宗教来安慰自己的，但价值投资不是一个宗教也不是一个信仰。价值投资需要非常理性，理性的人会独立思考。

People without faith need a religion to comfort themselves, but value investing is not a religion or a faith. Value investing requires being very rational, and rational people think independently.

寻找那些拥有'无形竞争优势'的公司——这种优势无法被竞争对手通过砸钱快速复制。

Look for companies with intangible competitive advantages — advantages that can't be quickly replicated by competitors just by throwing money at them.