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Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business whose earnings are…

子曰：「學而不思則罔，思而不學則殆。」

故曰：知彼知己，百戰不殆；不知彼而知己，一勝一負；不知彼不知己，每戰必殆。

Men are disturbed not by things, but by the views which they take of things.

The safest plan, and the one most sure of success for the young man starting in life, is to select the vocation which is most congenial to his tastes.

If you know the enemy and know yourself, you need not fear the result of a hundred battles.

Institutional dynamics, not venality or stupidity, set businesses on these courses, which are too often misguided.

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

We believe that a fundamental measure of our success will be the shareholder value we create over the long term.

We will make bold rather than timid investment decisions where we see a sufficient probability of gaining market leadership advantages. Some of these…

Day 2 is stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death.

We may never know where we're going, or when the tide will turn, but we had better have a good idea where we are.

Pain + Reflection = Progress. There is no avoiding pain, especially if you're going after ambitious goals.

买股票就是买公司。

市场的存在是为了你来服务的，不是来指导你的。

耐心，就是正视现实，承认很多事情需要时间慢慢发展，不轻易消耗自身资源强推。

名與身孰親？身與貨孰多？得與亡孰病？是故甚愛必大費，多藏必厚亡，知足不辱，知止不殆，可以長久。

孫子曰：昔之善戰者，先為不可勝，以待敵之可勝。不可勝在己，可勝在敵。故善戰者，能為不可勝，不能使敵之必可勝。故曰：勝可知，而不可為。

上問魏徵曰：「人主何為而明，何為而暗？」對曰：「兼聽則明，偏信則暗。」

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.

Trust thyself: every heart vibrates to that iron string.