2014/07/23

用永恆的角度來看事情

一段有趣的葛拉漢影片

葛拉漢回答為何華爾街的專家預測這麼不可靠,他說:「華爾街上的每個人都如此聰明,他們的聰明因此彼此抵銷。所有他們已知的資訊大致都已經反映到價格的高低上,因此未來價格的變化多半都是他們所不知道的事。」

Everyone on Wall Street is so smart that their brilliance offsets each other. And that whatever they know is already reflected in the level of stock prices, pretty much.Consequently, what happens in the future represents what they don’t know.

學生Marshall Weinberg回憶葛拉漢第一堂課用來開場的話。他說:「如果你希望在股市賺到錢,你必須有合適的心理態度。」「就像Spinoza斯賓諾沙所說,你應該用永恆的角度來看事情。You must look at things in the aspect of eternity.」

Baruch Spinoza, “In so far as the mind sees things in their eternal aspect, it participates in eternity.”
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