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The adaptive markets hypothesis says that all economic institutions, like our own species, develop and change over time, depending on the population of investors that are engaged with them.

  • -- Andrew Lo 罗德城

适应性市场假说认为，所有经济机构，就像我们人类一样，都会随着时间的推移而发展和变化，这取决于与之打交道的投资者群体。

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Change Over Economic Time

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In time the savage bull sustains the yoke; In time all haggard hawks will stoop to lure; In time small wedges cleave the hardest oak, In time the flint is pierced with softest shower, And she in time will fall from her disdain, And rue the sufferance of your friendly pain.

到了一定的时候，野蛮的公牛就会扛起轭来;总有一天，所有憔悴的鹰都会俯身去引诱;迟早有一天，最坚硬的橡树会被小楔劈成两半，最柔和的雨水会把燧石打穿，她迟早会从她的鄙夷中解脱出来，为你所遭受的友好的痛苦而悔恨。

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Listen, here's the thing about an English degree - if you sat somebody down and asked them to make a list of the writers they admire over the last hundred years, see how many of them got a degree in English.

听着，关于英语学位的事情是这样的——如果你让某人坐下来，让他们列出他们过去一百年来崇拜的作家的名单，看看他们中有多少人获得了英语学位。

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Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing had happened.

人们偶尔会被真理绊倒，但大多数人会振作起来，匆匆离去，就像什么都没发生过一样。

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I had many decades of me time and now I just don't have that anymore. There are days when I rail against it.

我有几十年的自由时间，现在我再也没有了。我有时会抱怨它。

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I've asked about you and they told me things, but my mind didn't change. I still feel the same.

我问过你，他们也告诉过我一些事情，但我的想法没有改变。我仍然有同样的感觉。

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Destroying rainforest for economic gain is like burning a Renaissance painting to cook a meal.

为了经济利益而破坏雨林，就像烧一幅文艺复兴时期的油画来做饭一样。

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Sometimes, change is everything.

有时候，改变就是一切。

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I'm for economic independence.

我赞成经济独立。

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