我从不试图去预测市场，我只需要在好公司便宜时买入。

I never try to predict the market. All I need to do is buy good companies when they are cheap.

六种值得关注的股票类型：缓慢增长型、稳健增长型、快速增长型、周期型、困境反转型和隐蔽资产型——不同类型需要不同的投资策略。

There are six categories of stocks: slow growers, stalwarts, fast growers, cyclicals, turnarounds, and asset plays. Each requires a different strategy.

债券投资比股票投资更安全，但回报也更低。

Bond investing is safer than stock investing, but the returns are also lower.

最好的持股周期是'直到投资逻辑不再成立'——这可能是一年，也可能是三十年。

The best holding period is 'until the investment thesis no longer holds' — which could be one year or thirty years.