真正出色的公司数量极少，当找到这样的公司时，要大量买入。

There are a very small number of truly outstanding companies. When you find one, buy in size.

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.

大多数投资者花太多时间研究“这家公司值多少钱“而花太少时间研究“这家公司未来十年会变成什么样“。

Most investors spend too much time studying 'What is this company worth?' and too little time studying 'What will this company look like in ten years?'

我们买下的，是一家企业未来几十年的盈利能力。

What we buy is a business's earning power for decades to come.