指数基金是民主化投资的工具。

Index funds are tools for democratizing investing.

最完美的股票，是那种无聊得让人打哈欠的——分析师不覆盖它，名字听起来就土，业务枯燥得让人昏昏欲睡。但正是这种公司，才可能给你带来最不无聊的回报。

The perfect stock is the one that's so boring that it makes you yawn. No analyst covers it, the name sounds dull, and the business is so tedious it puts you to sleep. But that's exactly the kind of company that can give you the most exciting returns.

安全边际让投资从一种预测游戏变成一种风险管理活动。

A margin of safety is achieved when securities are purchased at prices sufficiently below underlying value to allow for human error, bad luck, or extreme volatility.

买入伟大的企业，与时间做朋友。

Buy great companies and let time be your friend.