“The big takeaway from ice ages is that you don’t need tremendous force to create tremendous results.”

冰河时期只是每年夏天不够热，导致去年的积雪没能融化完全，年复一年地积累所导致的。

“There are books on economic cycles, trading strategies, and sector bets. But the most powerful and important book should be called Shut Up And Wait. It’s just one page with a long-term chart of economic growth.” “You can’t blame people for devoting all their effort—effort in what they learn and what they do—to trying to earn the highest investment returns. It intuitively seems like the best way to get rich.” “But good investing isn’t necessarily about earning the highest returns, because the highest returns tend to be one-off hits that can’t be repeated. It’s about earning pretty good returns that you can stick with and which can be repeated for the longest period of time. That’s when compounding runs wild.”

人们总是花费大量的精力追求一两次的高收益，而忽略了长期赚一个不错的不错的收益最终带来的成果。而且这还没有算短期极高的收益可能带来的悲剧的结局。