“A good company is one that can continuously grow value through its operation. It will be worth more tomorrow than it is today. As opposed to mediocre businesses that erode value over time, a good business can grow its value and do so consistently, as in Yacktman’s analogy. The value of the company rises higher and higher and time is its friend.”
— Invest Like a Guru: How to Generate Higher Returns At Reduced Risk With Value Investing, Charlie Tian
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“一家好公司能够通过经营持续增长其价值。它明天会比今天更值钱。正如Yacktman的类比,与那些随着时间而贬值的平庸企业不同,好的企业能够持续增值。公司的价值会越来越高,而时间则是它的朋友。”
— 《像大师一样投资:如何通过价值投资实现低风险、高回报》,Charlie Tian