1. You are dealing with a lot of stupid people in the market; it is like a huge casino where everyone is drinking heavily but you. If you keep drinking Pepsi, you might win the lottery.

2. What you least want to review, a failed transaction, is what you should review the most.

3. In addition to rich knowledge and reliable judgment, courage is the most valuable asset you have.

4. The chain of habit is always too light to be noticed before it is so heavy that it breaks.

5. Don’t worry about the rise and fall of the market every day. You should pay attention to whether the direction of trading decisions changes.

6. My fund has grown so large that it means nothing if I don’t spend some money on it. And it seems that making money is easier than spending it. I seem to be more talented in making money than in making the right decisions with money.

7. Analysts and Barbers: Never ask the barber if you need a haircut.

8. Investment must be rational. If you can't understand it, don't do it.

9. If we have firm long-term investment expectations, short-term price fluctuations are meaningless to us unless they give us the opportunity to increase our holdings at a cheaper price.

10. If any industry has a tendency to swarm and develop excessively, it will cause destruction.

11. When people forget the most basic common sense that "two plus two equals four", it is time to get out of the market.

12. I am a very realistic person, I know what I can do, and I like my job. Maybe it would be nice to be a major league baseball star, but it's unrealistic.

13. Not everything in the world can be solved by money, but there are indeed many things that require money.

14. I am greedy when others are fearful, and fearful when others are greedy.

15. When the business was down, we spread rumors that our candies had 100% effect, which was very effective. But rumors are lies, and candy is not.

16. People are accustomed to calling speculators who are in and out of the stock market short-term every day investors, just like everyone regards love scammers who are constantly having sex as romantic lovers.

17. I started working as a wholesale salesman when I was 17 years old, and I have become more aware of the difficulty of making money and the hardship of life. Others do it for 8 hours, but I do it for 16 hours.

18. Stand still: Sometimes successful investing requires standing still.

19. I do not engage in trading to find a winner, but to win. When others talk about their thrilling trading experiences, I stay silent because to me, every trade is the same.

20. If you can't control the situation, it's not a bad thing to miss an opportunity.

21. Compared with the fees of many *** funds 1: At Berkshire we make money for you, not from you.

22. Do not do it if you are not familiar with it: The success of an investor is directly proportional to the extent to which he truly understands the investment.

23. If your investment is doing well, go with your gut and invest all your assets.

24. An owner or investor can achieve great things if he tries to combine himself with managers who manage good businesses.

25. Be patient enough to wait for trading opportunities that are beneficial to you.

26. Experience shows that companies that can create new highs in earnings often do business in a way that is not much different from that of five or even ten years ago.

27. The existence of the market provides us with a reference to help us discover whether someone has done something stupid.

Investing in stocks is actually investing in a company. You have to behave in a reasonable way and not just follow the trend.

28. An outstanding company can predict what may happen in the future, but it does not necessarily know when it will happen. The focus needs to be on the “what,” not the “when.” If the "what" is correct, then there is no need to worry about the "when".

29. If you are not willing to own a stock for ten years, then don't consider owning it for ten minutes.

30. Everyone will get what they want in the market.

31. Money always flows towards opportunities, and the United States is full of opportunities.

32. Our job is to focus on what we know. This is very, very important.

33. Fear and greed: Be fearful when others are greedy, and be greedy when others are fearful.

34. For every investment, you should have the courage and confidence to invest more than 10% of your net worth.

35. For every transaction, you must be mentally prepared for the worst. So operate in small quantities.

36. Don’t be overconfident. You must question your trading ability at any time. The most important rule is to be defensive, not offensive.

37. The reason why we have achieved what we have now is because we are concerned with finding those one-foot obstacles that we can jump over, rather than having the ability to fly across seven feet.

38. Hype is like the law of the forest in the animal world, specifically attacking the weak. This approach can often hit the target with perfect accuracy.

39. How much wealth you can accumulate in your life does not depend on how much money you can make, but on how you invest and manage money. It is better to find people for money than for people to find money. You must understand that money works for you, not you. Work for money.

40. Don’t set your stop loss where the market may easily reach it.

41. If I were picking an insurance company or a paper company, I would put myself in the position of imagining that I had just inherited that company and that it would be our family's forever. 's sole property.

42. If you operate too much, even if you judge the market correctly, you will still fail.

43. If you are not ready to endure the pain, then leave. Don’t expect to become a victorious general. If you want to succeed, you must be ruthless!

44. Don’t invest in a business that any fool can do, because one day all fools will do the same.

45. When testing a trading system, you have to believe that the future trend may change, but people will never change.

46. If you are a duck in the pond, the water rises due to heavy rain, and you begin to float in the water world. But at this time, you think that it is you who floats, not the pond.

47. To grasp the fruits of victory, you must overcome the urge to use the saved part again.

48. Value investing cannot guarantee our profit, but value investing provides us with the only opportunity to achieve real success.

49. The stock market is generally unreliable. Therefore, if you follow the fashion of others in the East China Street area, your stock management is destined to be very bleak.

50. For those best deals, at the beginning, judging from the numbers, they will almost tell you not to buy them.

51. Even if Federal Reserve Chairman Greenspan secretly tells me his monetary policy for the next two years, I will not change any of my actions.

52. If you gave me 100 billion US dollars in exchange for Coca-Cola’s leadership in the world of beverages, I would give you the money back and say to you, ‘This is not going to happen’.

53. In recent years, my investment focus has shifted. We don’t want to buy the worst furniture at the cheapest price, we want the best furniture at a reasonable price.

54. The only value of a stock forecasting expert is to make the fortune teller look good.

55. In addition to making money to satisfy one's sense of accomplishment, a person also wants to live a better life. If you only focus on making money and sacrifice your own health, it is not worth it.

56. Mistakes are not shameful. What is shameful is that the mistakes are already obvious but are not corrected!

57. Short-term stock market forecasts are poison. They should be placed in the safest place, away from children and investors who behave like children in the stock market.

58. Those who only focus on their own small pockets are small businessmen, while those who focus on the world's big market are big businessmen. The same businessmen have different visions, different realms, and different results.

59. Different people understand different industries. The most important thing is to know which industries you understand and when your investment decisions fall within your own circle of competence.

60. When choosing stocks in an industry, you should choose two stocks, but don’t just pick two. You should choose the one that is the best and the one that is the worst!

61. If you don’t bet, you won’t win. If you lose everything, you can't bet.

62. I know nothing about the overall economy. Exchange rates and interest rates are simply impossible to predict. Fortunately, I don’t pay attention to them when doing analysis and selecting investment targets.

63. Investment is not a game where a person with an IQ of 160 can definitely beat a person with an IQ of 130.

64. You must think independently. I always find it incomprehensible why people with high IQs don't use their brains to imitate others. I've never gotten any tips from other people.

65. There is no formula to determine the true value of a stock. The only way is to thoroughly understand the company.

66. Smart businessmen can infiltrate business awareness into everything in their lives, even every move and every move. Businessmen who are full of commercial cells can make money everywhere and at all times.

67. When some large companies experience a temporary crisis or the stock market falls, and profitable trading prices appear, you should not hesitate to buy their stocks.

68. Instead of cleaning up the mess in the end, or even making a loss-making business, it is better to be rational and restrained at the time.

69. Investing in a market where people believe in market efficiency is like playing bridge with someone who has been told that there is no benefit to reading cards.

70. The so-called "turnaround" companies rarely have successful cases in the end. Instead of spending time and energy on buying cheap bad companies, it is better to invest in some high-quality ones at a fair price. enterprise.

71. Admitting a mistake is something to be proud of. I can admit my mistakes. It would be a shame to know my mistakes but not correct them.

72. If we cannot find what we need within the scope of our confidence, we will not expand the scope. We will just wait.

73. People buy stocks and then decide whether their investment is correct based on the price rise or fall the next morning. It is nonsense.

74. Only those who have a job, but are not greedy, and are fascinated by the investment process are suitable for this job. Being greedy will destroy you. Of course, people who are indifferent to money or indifferent to wealth are not suitable for playing this kind of 'game', because if they don't like it, they won't have sex.

75. We should focus on what will happen, not when.

76. The market is like God, helping those who help themselves, but unlike God, he will not forgive those who do not know what they are doing.

77. The so-called turnaround companies rarely have successful cases in the end. Instead of spending time and energy on buying cheap bad companies, it is better to invest in some high-quality companies at fair prices.

78. It is foolish to own a stock and expect it to rise the next morning.

79. If someone believes that a short market is coming and sells a good investment, then this person will find that usually after selling the stock, the so-called short market immediately turns into a long market, and then the stock market turns into a long market. Another missed opportunity.

80. I don’t want to spend a lot of time with people in the stock market. I think they are annoying. I feel much more comfortable with intellectuals than with businessmen.

81. A horse that can count to ten is a great horse, but not a great mathematician. Similarly, a textile company that can use funds reasonably is a great textile company, but not a great mathematician. What an amazing company.

82. I have been doing the work of fund allocation since I was eleven years old, and I have been doing this until now.

83. Take risks. There is no blame to go around, and at the same time, remember not to throw everything in the towel!

84. Once a person breaks his trust once, others will no longer be willing to associate with him or do business with him next time. Others would rather go to a trustworthy person than to go to him again, because his lack of trustworthiness may cause a lot of trouble.

85. If you basically learn knowledge from others, you don’t need to have too many new ideas of your own, you just need to apply the best knowledge you have learned.

86. Never follow general logical thinking, you must have your own opinions.

87. By investing regularly in index funds, lay investors can achieve results that exceed those of most professional investment gurus!

88. When business reaches a higher level, you must not be greedy, let alone insatiable.

89. Wait patiently for trading opportunities that are beneficial to you, and do not trade for the sake of trading.

90. I have become integrated with the company. It lives on me, and I live with it, inseparable day and night; it is my lover. I'm afraid of losing it and I'm afraid of failing and try to avoid mistakes. It's a miserable life.

91. Invest within your ability. The key is not the size of the scope, but the correct understanding of yourself.

92. It’s hard to recover after overturning the water: The first step to regroup is to stop doing the things that have been done wrong.

93. If you want to swim fast, it is better to use the power of tide than to paddle with your hands.

94. Start saving money and invest early. This is the most good habit worth developing.

95. Follow the laws of the market without hesitation and know when to break the rules of trading.

96. It was not fun to be a horse when tractors came out, or a blacksmith when cars came out.

97. In the 35 years I have been engaged in investment work, I have found no signs that people are moving closer to value investing. It seems that there are some negative factors in human nature that complicate simple problems.