买股票就像买下一个农场，你关心的是它每年产多少粮。

Buying a stock is like buying a farm; what you care about is how much grain it yields each year.

真正伟大的公司不需要考虑卖出时机，因为它们的成长永无止境。

If the job has been correctly done when a common stock is purchased, the time to sell it is — almost never.

在商业领域，我寻找的是由护城河环绕的经济城堡。

In business, I look for economic castles protected by unbreachable moats.

如果你无法用一支蜡笔说清楚一家公司的业务，就不要买它的股票。复杂是分析的敌人，简洁是决策的朋友。

If you can't explain a company's business in one sentence with a crayon, you don't understand it well enough to invest.