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There is no such thing as a value trap. There are investing mistakes.

  • -- Mohnish Pabrai 莫尼斯·帕波莱

没有所谓的价值陷阱。这是投资失误。

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Trap Investing

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And for man to look upon himself as a capital good, even if it did not impair his freedom, may seem to debase him... by investing in themselves, people can enlarge the range of choice available to them. It is one way free men can enhance their welfare.

如果一个人把自己看作是一种资本品，即使这并不损害他的自由，也可能使他降低身份……通过对自己的投资，人们可以扩大自己的选择范围。这是自由人增进福利的一种方式。

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The creative act lasts but a brief moment, a lightning instant of give-and-take, just long enough for you to level the camera and to trap the fleeting prey in your little box.

这种创造性的行为只持续了很短的一段时间，就像闪电一样的给予和接受，这段时间刚好够你把相机调平，把稍纵即逝的猎物困在你的小盒子里。

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Never stop investing. Never stop improving. Never stop doing something new.

永远都不要停止投资。永远不要停止提升。永远不要停止做一些新的事情。

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Subtlety set a trap and caught itself.

狡猾设下了圈套，自己也被捉住了。

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