赚钱的秘密就是在你发现错误时止损。不要抱着亏损的头寸死扛。

The big loss always seems to find people who refuse to accept they are wrong.

投资成功最重要的不是智商，而是性格——一种让你能够在别人恐慌时不恐慌、在别人贪婪时不贪婪的性格。

The most important quality for investment success is not IQ, but temperament — the ability to not panic when others panic, and not get greedy when others get greedy.

在所有投资错误中，最大的一个就是让情绪替代理性做出决策——而情绪最危险的时候，恰恰是它感觉最正确的时候。

Of all investment mistakes, the biggest is letting emotion override reason — and emotion is most dangerous when it feels most right.

投资的核心原则是安全边际。

The cornerstone of investment is the margin of safety.