投资者为防范市场回调所做的准备所损失的钱，比市场回调本身造成的损失还要多。

Far more money has been lost by investors preparing for corrections than has been lost in corrections themselves.

投资不需要文化，也不需要情商。投资其实很像种地。

Investing doesn't require culture, nor does it require emotional intelligence. Investing is actually a lot like farming.

真正的风险不是股价下跌，而是企业内在价值发生毁灭，股价波动不是风险。

资产配置决定了投资组合绝大部分的长期回报差异。

Asset allocation is the most powerful tool available to investors.