对公司管理层的深入了解是成功投资的关键。

Deep understanding of company management is the key to successful investing.

在投资中，简单是最好的策略。

In investing, simplicity is the best strategy.

如果市场总是有效的，我早就沦落街头拿着破杯子要饭了。

I'd be a bum on the street with a tin cup if the markets were always efficient.

闲聊调研——和供应商、客户、前员工聊天——是获取投资真相最有效的方式。

The scuttlebutt method — talking to suppliers, customers, and former employees — is the most effective way to get the truth about an investment.