来源：雪球App，作者： JetRen，（https://xueqiu.com/6513477665/239319888）
1. The big money is not in the buying and the selling, but in the waiting.
大钱不来自于买和卖，而是来自等待。
2. Those who learng, will kepp rising in life.
不断学习的人，将在生活中不断上升。
4. There isn't a single formula. You need to know a lot about business and human nature and the numbers… It is unreasonable to expect that there is a magic system that will do it for you.
投资没有一个固定的公式。你需要知道很多关于商业、人性和数字的知识。期待有一个神奇的系统为你做到这一点是不合理的。
5. There are three ways to go broke: liquor, ladies and leverage.
破产有三条途径：酒精，女人和杠杆。
6. There is no better teacher than history in determining the future… There are answers worth billions of dollars in a history book.
在决定未来方面，没有比历史更好的老师了。历史书上有价值数十亿没有的答案。
7. We have three baskets for investing: yes, no and too tough to understand.
我们有3个投资篮子：值得投资的，不值得投资的，太难理解的。
9. Knowing what you don't know is more useful than being brilliant.
知道什么是你不懂的比变聪明更有用。
11. I constantly see people rise in life who aren't the smartest, sometimes not even the most diligent, but they're learning machines.
我经常看到生活中崛起的人并不是最聪明的，有时候甚至不是最勤奋的，但他们都是学习机器。
13. It's remarkable how much long-term advantage people like us have gotten by tring to be consistently not stupid, instead of trying to be very intelligent.
值得注意的是，像我们这样的人通过持续保持不犯傻，而不是试图变得非常聪明，获得了多少长期优势。
14. Take one simple idea and take it seriously.
拿一个简单的主意并且认真的对待它。
16. A great business at a fair price is superior to a fair business at a great price.
以合理的价格买入优秀的生意，优于以便宜价格买入平庸的生意。
17. If you can get really good at destroying your own wrong idears, that's a great gift.
如果你很擅长摧毁自己的错误想法，这是一项很棒的天赋。
19. People calculate too much & think to little.
人积算的太多&思考的太少。
25. Do the work on your desk. Do well with what you already have and more will come in.
做你桌子上的工作。把你已经有的做好，更多的会进来。
26. To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people.
得到你想要的东西，你必须配得上有想要的。这个世界不是一个疯狂到奖励一大群不值得的人的地方。
29. You don't have to be brilliant, only a little be wiser than the other guy on average, for a long time.
你不必非常聪明，你只需要在很长一段时间内平均比其他人聪明一点。
30. Acknowledging what you don't know is the dawning of wisdom.
承认你不知道就是智慧的曙光。
31. It takes character to sit with all that cash & do nothing. I didn't get to the top where I am by going after mediocre opportunities.
手握现金坐着什么都不做，是需要性格的。我并不是通过追逐平庸的机会达到我所达到的顶峰的。
32. If you learning all the time you have a huge advantage.
如果你一直保持学习，你就拥有巨大的优势。
36. The habit of committing far more time to learning and thinking than to doing is no accident.
花比着手做所需多得多的时间学习和思考的习惯不容易出事故。
38. Opportunity comes to the prepared mind.
机会给有准备的人。
40. I try to get rid of people who confidently answner questions about which they don't have any real knowledge.
我试图摆脱那些自信回答一些他根本没有真正知识的问题的人。
41. Simplicity has a way of improving performance by enabling us to better understand what we are doing.
简洁能够通过让我们更好的理解自己正在做什么而改进表现。
48. It's waiting that helps you as an investor and a lof of people just can't stand to wait. If you didn't get the deferred-gratification gene, you've got to work very had to overcome that.
等待帮助我们成为投资者，很多人不能忍受等待。如果你没有延迟满足的基因，你需要非常努力来克服。
49. all intelligent investing is vale investing, acquiring more than you are paying for.
所有聪明的投资都是价值投资，得到的比你付出的多。
50. A lot of people with high IQs are terrible investors because they've got terrible temperaments.
很多高智商的人都是糟糕的投资者，因为他们有糟糕的性情。
54. Mimicking the herd invites regression to the mean.
投资中随大流只能均值回归。
55. You must force yourself to consider opposing arguments. Especially when they challenge your best-loved ideas.
你必须强迫自己考虑相反的论据，特别是这些相反的论据挑战你最爱的想法的时候。
56. Warren Buffett and I insist on a lot of time being available almost every day to just sit and think. That is very uncommom in business. We read and think.
沃伦巴菲特和我坚持每天要有大量的时间坐着和思考。这在美国商界是非常不常见的。我们阅读和思考。
57. Our game is to recognize a big idea when it comes along when one doesn't come along very ofter.
我们的游戏是当一个不经常出现的大的主意出现的时候识别它。
60. Assume life will be really tough & then ask if you can handle it. If the answer is yes, you've won.
设想一下生活将变得非常艰难，然后自问是否可以处理。如果答案是可以，你就已经赢了。
61. Just because you like it does not mean that the world will necessarily give it to you.
仅仅因为你喜欢并不意味着这个世界就要如你所愿。
66. You need patience, discipline, and agility to take losses and adversity without going crazy.
你需要耐心，纪律和灵活性来应对损失和逆境，而不至于心态炸了。
69. Invert, always invert: Turn a situation or problem upside down. Look at it backward.
反过来，总是反过来：把情况或者问题倒转一下。反过来看它。
72. Good businesses are ethical businesses. A business model that relies on trickery is doomed to fail.
好的生意是有道德的。建立在阴谋诡计上的商业模式注定是要失败的。
79. Everywhere there is a large commission, there is a high probablity of a rip-off.
81. The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
自然的铁律是：你奖励什么，就得到什么。如果你要要蚂蚁过来， 你就把糖撒地上。
83. Another thing, of course, is that life will have terrible blows in it, horrible blows, unfair blows. It doesn't matter. And some people recover and others don't.
人生会遭受非常大的打击，可怕的打击，不公平的打击。这没有关系。有些人能够缓过来，有些人则不能。
86.One solution fits all is not the way to go. All these cultures are different. The right culture for the Mayo Clinic is different from the right culture at a Hollywood movie studio. You can't run all these palces with a cookie-cutter solution.
一个解决方案适合所有情况，不是这样的。所有这些文化都是不同的。梅奥诊所的文化和好莱坞电影制片厂的文化是不同的。你不能用千篇一律的解决方案运营这些地方。
88 Most people are too fretful, they worry too much. Success means being very patient but aggressive when it's time.
大部分人都太焦躁了，他们担心太多。成功意味着要能够沉住气，但是时机到了就要积极进取。
90. Don't drift into self-pity because it doesn't solve any problems.
不要陷入自怜，因为它不解决任何问题。
92. if something is too hard, we move on to something else. what could be more simpler than that.
如果某事太难了，我们就转去做其他事情。还有什么比这更简单的呢。
94. I think that one should recognize the reality even when one doesn't like it; indeed, especially when one doesn't like it.
我认为一个人必须承认现实，就算不喜欢这个现实。确实，特别是不喜欢这个现实的时候。
98.The first rule of compounding: never interrupt it unnecessarity.
复利的第一规则：不要无故打断它。
99. To a man with a hammer, everything looks like a nail.
对一个手拿锤子的人来说，一切看起来都像钉子。
