We have three criteria. If it’s publicly traded， liquid and amenable to modeling， we trade it.

译文：为人处世必须以忠厚老实的人为效仿对象，传承家业必须要把勤俭节约的习惯传给子孙后代。赏析：忠厚老实之人做事有自己的原则，他们不会耍心机，不会算计别人，这样的人值得我们尊重。不管是富贵或是贫穷，我们都应把勤俭节约的习惯放在心头。贫穷时不节俭，会更加贫穷，富贵时不节俭，万贯家财都会被败光。

那些将环境挑战视为创新机会的公司将会蓬勃发展。

I've seen so much folly and stupidity on the part of our major philanthropic groups, including the world bank.I really have more confidence in building up the more capitalistic ventures like Costco.

In a world of asymmetric information, the design of mechanisms to ensure transparency and fairness is crucial.

Music is a language that doesn’t speak in particular words. It speaks in emotions, and if it’s in the bones, it’s in the bones.

我们完全可能是在从错误的侧面考察世界，要找到有关世界的正确答案，也许需要改变视点、从世界的另一面考察它，即从心理内部而非心理外部考察。

我不是情感，我是理念。

Investors should be wary of anyone who claims to have a secret formula for beating the market.

"The pursuit of knowledge is a lifelong journey with no final destination."