1.我们喜欢的生意必须具有持久的竞争优势。

The businesses we favor must possess enduring competitive advantages.

2.我们宁愿要一个起伏的15%的回报率，也不要一个平稳的12%的回报率。

We would rather have a volatile 15% return than a steady 12% return.

3.真正伟大的生意，不但能从有形资产中获得高回报，而且在持续期内，就能维持其高回报率，不需要对收益进行大量再投资。

Truly great businesses not only generate high returns from tangible assets but also sustain those high returns over time without requiring significant reinvestment of earnings.

4.当一个问题出现时，要立刻修正它，而不是等到以后。

When a problem arises, fix it immediately rather than waiting for later.

5.最大的风险是你不知道风险在哪里。

The greatest risk is not knowing where the risks lie.

6.只有在市场崩溃时，你才能看出谁没有风险意识。

Only when the market crashes can you see who lacks risk awareness.

7.现金是一种永不过期的看涨期权，对每一种资产类别都有效，且没有行权价限制。

Cash is a call option with no expiration date, an option on every asset class, with no strike price.

8.股票市场的作用是重新配置资源，而不是提供娱乐。

The stock market& #39;s purpose is to reallocate resources, not to provide entertainment.

9.当你意识到你能独自完成某件事情时，你将变得不可阻挡。

When you realize you can accomplish something on your own, you become unstoppable.

10.不要浪费时间在你无法控制的事情上。

Don& #39;t waste time on things you can& #39;t control.

以上内容为巴菲特精彩语录整理

由数字人巴菲特播报 

本视频由七华软件用人工智能技术生成