最好的投资往往是“无聊”的：没有性感的故事，没有朋友圈的欢呼，只是以划算的价格买下能持续产生现金流的资产，然后等待。

The best investments are often 'boring': no sexy story, no applause — just buying cash-generative assets at a sensible price and waiting.

你必须学会接受不确定性，这是投资和生活的本质。

You must learn to accept uncertainty; it is the nature of investing and life.

投资的真正秘诀是：找到低价的好资产，然后等待它回归合理价值。这需要时间和耐心。

The real secret of investing is to buy when prices are low and wait for them to return to fair value. That takes time and patience.

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.