1. 第一条规则：永远不要亏钱。第二条规则：永远不要忘记第一条。Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.核心：优先防范本金永久性亏损，复利的前提是保住本钱。2. 在别人贪婪时恐惧，在别人恐惧时贪婪。Be fearful when others are greedy, and greedy when others are fearful.逆向投资核心，不跟随市场大众情绪。3. 价格是你付出的成本，价值是你得到的东西。Price is what you pay. Value is what you get.分清价格与内在价值，不要单纯追涨杀跌。4. 如果你不愿意持有一只股票十年，那就连十分钟都不要持有。If you aren’t willing to hold a stock for ten years, don’t even think about holding it for ten minutes.坚持长期主义，拒绝短线投机思维。5. 以合理的价格买入优秀公司，远胜过以极低价格买入平庸公司。It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.选股优先于低价，优质企业拥有长期优势。6. 只有潮水退去，才知道谁在裸泳。You only find out who is swimming naked when the tide goes out.牛市很难分辨投资者实力，危机才能暴露风险。7. 风险来自你不知道自己正在做什么。Risk comes from not knowing what you’re doing.坚守能力圈，不懂的行业坚决不投资。8. 我们最喜欢的持有期限，是永远。Our favorite holding period is forever.找到具备持续护城河的优质企业，长期陪伴成长。9. 市场短期是投票机，长期是称重机。In the short run, the market is a voting machine but in the long run, it is a weighing machine.短期股价由情绪决定，长期股价由企业真实价值决定。10. 建立声誉需要二十年，毁掉它只需要五分钟。It takes 20 years to build a reputation and five minutes to ruin it.不止投资，做人与经营，诚信和声誉最为珍贵。