价值投资的核心是以低于内在价值的价格买入资产。

The core of value investing is buying assets at prices below their intrinsic value.

考察管理者，我看重正直、智慧与精力；若没有正直，后两者会害死你。

We look for integrity, intelligence, and energy in managers; if they lack integrity, the other two will kill you.

被动投资是长期投资成功的最佳策略。

Passive investing is the best strategy for long-term investment success.

不要试图预测利率或经济走势，专注于公司本身。

Do not try to predict interest rates or economic trends; focus on the company itself.