我们都是成功祖先的后代；失败者没有留下后代。

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.

"We are all, in some way, exiles from ourselves."

在变革时期，学习的能力远比知道的能力重要得多。