不要用借来的钱投资。杠杆是唯一能让一个正确的判断变成一个灾难的东西——因为它会在你坚持到黎明之前就让你死在黑暗里。

Never invest with borrowed money. Leverage is the only thing that can turn a correct judgment into a disaster — because it can kill you in the dark before you make it to dawn.

风险来自你不知道自己正在做什么。

Risk comes from not knowing what you're doing.

分散投资是投资界唯一的免费午餐，也是投资的圣杯。

Diversifying well is the most important thing you need to do in order to invest well.

分析一家公司时不要问“我会赚多少钱”，要问“我会怎么亏钱”。

When analyzing a company, don't ask 'How much will I make?' Ask 'How can I lose money?'