对于小型公司，最好等它们实现盈利之后再进行投资。

With small companies, it's best to wait until they've shown a profit before investing.

不要拿你拥有和需要的东西，去换你不需要和不想要的东西。

Don't risk what you have and need for what you don't have and don't need.

在你买入一只股票之前，先问自己：如果这只股票明天跌了50%，我是会恐慌卖出，还是会加仓？如果答案是前者，那你根本不应该买。

Before buying a stock, ask yourself: if it drops 50% tomorrow, would I sell in panic or buy more? If the answer is the former, you shouldn't buy it at all.

投资的四个维度是回报、风险、成本和时间。令人惊讶的是，绝大多数投资者只关注第一个维度。

The four dimensions of investing are return, risk, cost, and time. Remarkably, the vast majority of investors focus only on the first one.