投资的本质是以低于价值的价格购买证券，这样当价格回归价值时，你就获得了安全边际。

The essence of investing is buying securities at less than their value, so that when the price returns to value, you have a margin of safety.

对于价值投资者而言，股价的下跌不是风险——只要企业本身没有恶化，下跌只是给了你以更低价格加仓的机会。

Price fluctuations have only one significant meaning for the true investor: they provide him an opportunity to buy wisely when prices fall sharply.

将投资视为一种概率游戏而非确定性游戏。你不需要每次都对，你只需要在概率站在你这边时下重注。

View investing as a game of probabilities, not certainties. You don't need to be right every time; you just need to bet heavily when the odds are in your favor.

我不去学巴菲特，我只买我懂的、便宜的东西。

I don't try to be Buffett; I just buy cheap stocks I understand.