当市场陷入恐慌时，最被嫌弃的角落往往蕴藏着最丰富的宝藏。众人都避之不及的地方，才是价值投资者应该去的地方。

When markets panic, the most despised corners often hold the richest treasures. The places everyone is running away from are precisely where value investors should go.

一个好的投资组合应该有大约15个不相关的回报流。当一些在亏钱的时候，另一些在赚钱——这就是免费的午餐。

A good portfolio should have about 15 uncorrelated return streams. When some are losing money, others are making money — that's the free lunch.

你不能通过做和别人一样的事情来获得卓越的业绩。

You can't do the same things others do and expect to outperform.

靠水晶球谋生的人，注定要吃碎玻璃。

He who lives by the crystal ball is destined to eat ground glass.