Compiled Buffett's most classic and practical investment sayings, divided into five categories: core principles, stock selection logic, position sizing and risk control, mindset cultivation, and life philosophy. Easy to remember and highly applicable, they can be directly used as investment guidelines.

1. Core Investment Principles

1. When others are greedy, I am fearful; when others are fearful, I am greedy.
2. The first rule of investing is never lose money; the second rule is never forget the first.
3. If you're not willing to hold a stock for ten years, don't hold it for even ten minutes.
4. The short-term stock market is a voting machine; the long-term stock market is a weighing machine.
5. Don't try to predict the market; only do businesses you understand.

2. Stock Selection and Business Logic

1. Buying stocks is buying companies; buying companies is buying their future cash flows.
2. Only invest within your circle of competence; never touch what you don't understand.
3. Excellent companies, even if priced a bit higher, are far more worthwhile than mediocre ones.
4. Look for companies with wide moats; others will find it hard to steal their business.
5. Good company + good price = perfect investment; a good company at an outrageous price isn't worth buying.
6. Prefer vague correctness over precise errors.

3. Position Sizing, Risk Control, and Compound Interest

1. Compound interest is the eighth wonder of the world; time is a friend to good investors and an enemy to mediocre ones.
2. Don't put all your eggs in one basket, but also don't spread them so thin that you can't manage them.
3. Cash is always the foundation; always keep enough safety margin.
4. A 50% loss requires a 100% gain to break even; controlling drawdowns is more important than chasing huge profits.
5. Take it slow; sometimes, slow is fastest; rushing to get rich often leads to zero.

4. Trading Mindset and Human Nature

1. Investing is not a contest of IQ but of emotional control.
2. The most expensive cost in the stock market is impatience and following the crowd.
3. Don't watch stock prices obsessively; the more frequently you watch, the easier to make foolish decisions.
4. Luck works in the short term; long-term success depends on cognition. Money earned through understanding truly belongs to you.
5. Admitting your ignorance is the beginning of mature investing.

5. Life and Wealth Philosophy

1. Building wealth over a lifetime depends on habits, self-discipline, and patience, not on fleeting speculative luck.
2. Living long and stable is more important than earning a lot in a short time.
3. True freedom is not about how much wealth you have, but about having the confidence not to be driven by desires.
4. Simple rules, adhered to for a lifetime, surpass countless complex techniques.