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.

如果你想成为一个成功的投资者，你必须独立思考。共识通常都是错的，你必须逆着人群的方向走。

To be a successful investor you have to bet against the consensus and be right.

给我看激励，我就告诉你结果。

Show me the incentive and I'll show you the outcome.

进化是宇宙中最强大的力量，也是唯一永恒的东西。

Evolution is the single greatest force in the universe; it is the only thing that is permanent.