投资于那些有稳定股息派发历史的公司。

Invest in companies with a stable history of dividend payments.

10块钱的东西有人1块钱哭着喊着要卖给你，你要勇气干什么？当有人非要把金子按铜的价钱卖给你时，你是不需要勇气的，你只要确认那真的是金子就行了。需要胆量的是投机，投资是不需要勇气的，也就是说当你需要勇气时你就危险了。

很多人说价值投资很难。投机更难啊！投机百分之八九十的散户都是亏钱的，牛市、熊市都亏。然后他说我很难，我怎么就难了？我就买了一个茅台，一直拿着，拿了十几年了，我难在哪儿了？

Many people say value investing is hard. Speculation is even harder! Eighty to ninety percent of retail speculators lose money, in both bull and bear markets. They say it's hard — how is it hard for me? I just bought Moutai and held it for over ten years. Where's the hard part?

我买便宜的股票，用分散来保护自己。

I buy cheap stocks and diversify to protect myself.