1. 股票市场整体的市盈率水平是一个很好的风向标，对于判断市场整体上是被高估还是低估

The overall price-to-earnings ( P/E ) ratio of the stock market serves as a good indicator for determining whether the market as a whole is overvalued or undervalued.

2. 为历史重演做准备无济于事，下一次的情况永远不会和上一次的一模一样。

Preparing for history to repeat itself is futile; the next time will never be exactly the same as the last.

3. 水越等越不开，股票越急越不涨。

The longer you wait, the harder it is to boil water; the more impatient you are, the less a stock will rise.

4. 任何一位业余投资者只要动用 3% 的智力，所选股票的投资回报就能超过华尔街投资专家的平均业绩水平，即使不能超过，起码也会同样出色。

Any amateur investor who applies just 3% of their intellect can achieve investment returns on their chosen stocks that exceed the average performance of Wall Street investment experts; even if they don ’ t surpass it, they will at least match it.

5. 要把资金永远留在股票市场里，根据基本面的变化把资金在不同股票之间进行转换。

Keep your capital in the stock market at all times, and reallocate it among different stocks as fundamentals change.

6. 在一只股价上涨之后继续坚决持有，往往要比股价下跌之后继续坚决持有困难得多。

It is often much harder to hold firmly to a stock after its price has risen than after it has fallen.

7. 每个人都不愿谈论股市时反而是最安全的时候。

When no one wants to talk about the stock market, that is actually the safest time.

8. 一只低价位股票的股价总是能够跌到更低的价位。

The price of a low-priced stock can always fall even lower.

9. 如果你是一个长线投资者，那么时间最终会站在你这一边。

If you are a long-term investor, time will ultimately be on your side.

10. 两个人是一对同伙，三个人是一群乌合之众。

Two people are partners; three people are a rabble.

以上内容为彼得 · 林奇精彩语录整理

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