The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists.

实现明天理想的唯一障碍是今天的疑虑。

The main task in life is simply this: to identify and separate matters so that I can say clearly to myself which are externals not under my control, and which have to do with the choices I actually control.

每个案件都是一个故事，每个故事都有开始、中间和结束。

与没见过的老虎还可以亲近，但与很熟悉的人不能够太亲。

生产过程的透明度能建立与消费者和利益相关者的信任。

过去从未死去，它甚至还没有过去。