Markets are efficient enough that most investors will not outperform the market over the long term.

在和平时期，儿子埋葬父亲。在战争中，父亲埋葬儿子。

I’m positive that in 100 years much of what I take to be true today will be proved to be wrong， maybe even embarrassingly wrong， and I try really hard to identify what it is that I am wrong about today.

There is a time for daring,and there is a time for caution, and a wise man understanding which is called for

错误不会因为多数人参与就停止成为错误。