流动性不是免费的——当你想卖的时候，别人也想卖。

Liquidity is not free. When you want to sell, everyone else wants to sell too.

如果你不把自己的想法写下来并在现实中检验，那你只是在和自己下棋——你永远都是赢家，但你永远也赢不了真正的比赛。

If you don't write down your ideas and test them against reality, you're just playing chess against yourself — you'll always win, but you'll never win the real game.

我不预测宏观，宏观太复杂，我也没那个本事。

I don't forecast the macro; it's too complex and beyond my ability.

投资的诀窍是不要亏钱。

The investment trick is not to lose money.