"Whether socks or stocks, I like buying quality merchandise when it is marked down."

“无论是袜子还是股票，我喜欢买减价的高质量商品。”

Buffett's mentor, Ben Graham, taught his disciples that you weren't buying stocks, you were buying businesses. And sometimes "Mr. Market" was willing to sell those businesses for less than they were really worth. That was the signal to buy.

巴菲特从他的老师本-格雷厄姆获得的一个投资秘诀是你买的不是股票,而是公司！寻找被市场过于低估的股票，然后大量买入。

单词解析：

quality merchandise 高质量商品

mentor  导师； disciple 徒弟；追随者

Buy atthe point of maximum pessimism; sell at the point of maximum optimism.

在大萧条的低点买入，在疯狂非理性的高点抛出，并在这两者间游刃有余。

As a committed contrarian, believed the only way to get a bargain in the stock market was to buy when everyone else was selling: "If you buy the same securities everyone else is buying, you will have the same results as everyone else."

在股票市场要淘便宜货的方法就是当别人卖出的时候你买进。如果你想比大多数人都表现好，你就必须和大多数人的行动有所不同。

Rejecting technical analysis as a method for investing, Templeton says, "You must be a fundamentalist to be really successful in the market."

拒绝将技术分析作为一种投资方法，邓普顿认为“你必须是一位基本面投资者才能在这个市场上获得真正成功。”

单词解析：

pessimism 悲观主义

contrarian  逆向投资者； bargain 便宜货

fundamentalist 基本面投资者

“Everyone has the brainpower to follow the stock market. If you made it through fifth grade math, you can do it.”

要成为一个成功的投资者,你不必是一个数学天才。只要你可以做五年级的数学,那你就有了基本的技能。

With small companies, you’re better off to wait until they turn a profit before you invest.

对于小公司，最好等到他们赢利后再投资。