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.

我们可能不知道未来会走向哪里，但我们可以知道我们现在处于什么位置。

We may never know where we're going, but we'd better have a good idea where we are.

市场短期是一台投票机，但长期是一台称重机。

In the short run, the market is a voting machine but in the long run, it is a weighing machine.

股票市场会在你需要钱的时候恰恰下跌。

The stock market will decline just when you need money.