华尔街有一条铁律：如果每个人都喜欢某样东西，那么你最好避开它。大众的一致看好往往是泡沫的信号。

The market is a pendulum that forever swings between unsustainable optimism and unjustified pessimism.

别人处理他们的事务越不谨慎，我们处理自己的事务就必须越谨慎。

The less prudence with which others conduct their affairs, the greater prudence with which we should conduct our own affairs.

大多数投资者最大的错误在于把价格当作价值的指标，而不是利用价格偏离价值的机会。

The prevailing view is that the market is efficient. I disagree. The market is often inefficient, and it is the exploitation of these inefficiencies that provides the returns.

在投资中，你必须独立思考，逆向而动。

In investing, you must think independently and act in the opposite direction.