卓越的投资不是来自买好的东西，而是来自把东西买好。

Investment brilliance isn't delivered by buying good things, but by buying things well.

分散投资是对无知的保护——但如果你知道自己在做什么，过度分散反而会稀释你的回报。

Diversification is protection against ignorance. But if you know what you're doing, over-diversification dilutes your returns.

投资操作是基于透彻的分析，承诺本金安全，并获得满意回报。任何不符合这三条的就是投机。

An investment operation is one which upon thorough analysis promises safety of principal and a satisfactory return.

六种值得关注的股票类型：缓慢增长型、稳健增长型、快速增长型、周期型、困境反转型和隐蔽资产型——不同类型需要不同的投资策略。

There are six categories of stocks: slow growers, stalwarts, fast growers, cyclicals, turnarounds, and asset plays. Each requires a different strategy.