大多数投资者无法区分概率和结果。

Most investors can't distinguish between probabilities and outcomes.

最重要的事情是知道什么时候止损。

The most important thing is knowing when to stop losses.

做空比做多难得多，因为你的亏损理论上没有上限，而且市场保持非理性的时间可能比你保持偿付能力的时间更久。但我仍然做空，因为市场有时候就是错的。

Short selling is much harder than going long, because your losses are theoretically unlimited, and the market can stay irrational longer than you can stay solvent. But I still short, because sometimes the market is simply wrong.

任何人都最好别做空。不喜欢的公司避开就好了，千万不要去做空，因为看错一次会让你难受很久甚至一辈子的。

No one should short sell. If you don't like a company, just avoid it. Never short it, because being wrong just once can make you suffer for a very long time, even a lifetime.