成功的投资不是关于预测未来，而是关于为未来做准备。

Successful investing is not about predicting the future, but about being prepared for it.

价值投资不是买便宜股票，而是用远低于内在价值的价格买入任何资产。

Value investing is not about buying cheap stocks — it is about buying any asset at a price substantially below its intrinsic value.

永远不要蹚一条平均水深四英尺的河。

Never cross a river that is on average four feet deep.

我们对世界的理解从来不是直接的和完整的，而是始终受到我们自身视角的局限——这就是可错性。承认可错性，是所有正确决策的起点。

Our understanding of the world is never direct and complete but is always limited by our own perspective—that is fallibility. Acknowledging fallibility is the starting point of all correct decisions.