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.
市场是一个永远在不可持续的乐观(使股票过于昂贵)和不合理的悲观(使股票过于便宜)之间摇摆的钟摆。聪明的投资者是现实主义者,他们向乐观主义者出售并从悲观主义者那里购买。
【解释】仁慈的人爱人,有礼貌的人尊敬人,爱别人的人,别人也会爱他;尊敬别人的人,别人也会尊敬他。
Rationality is not about being right, but about being consistent in your beliefs and actions.
To feed the world, we must first learn to respect the limits of our planet.