我们永远无法精确知道风险在哪，但我们可以知道什么时候风险'不值那个价'——然后站在一旁什么都不做。

We can never know exactly where risks lie, but we can know when risks aren't being priced properly — and then stand aside and do nothing.

我从不去碰自己看不懂的东西。

I never bought what I couldn't understand.

我是一个糟糕的交易员——总是在趋势确认之前进场。但我是一个好投资人——因为砍仓够快。

I'm a lousy trader because I enter before trend confirmation, but a good investor because I cut losses immediately.

发现错了马上改，不管多大的代价都是最小的代价。

If you find you've made a mistake, correct it immediately. No matter how big the cost, it will be the smallest cost.