Think of stocks as a small piece of ownership for the company and judge the intrinsic value with the competitive advantage of the company. Look for opportunities to discount cash profits in the future that are higher than the price you pay. This is very basic, you have to understand the probability, only to bet when you have a higher probability of winning.
要把股票看作对于企业的一小片所有权，以企业的竞争优势来判断内在的价值。要寻找未来折现的现金利润比你支付的股价高的机会。这是很基础的，你得明白概率，只有当你赢的概率更大的时候才去下赌注。