在市场上，最重要的不是你对了多少次，而是你对的时候赚了多少。

In the market, the most important thing is not how many times you are right, but how much you make when you are right.

投资的圣杯，就是找到10到15个良好且互不相关的回报流。

The Holy Grail of investing is to find 10 to 15 good, uncorrelated return streams.

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.

在投资中犯错不可怕。可怕的是在犯错之后加重了那个错误的赌注。

Making a mistake in investing is not scary. What's scary is doubling down on that mistake after you've made it.