Industries with rapid change are the enemy of the investor. Tech businesses, particularly biotech, is a problem from that point of view. All industries work with change, but you should ideally be investing in businesses with a low rate of change, not a high rate of change.

  • -- Mohnish Pabrai 莫尼斯·帕波莱

快速变化的行业是投资者的敌人。从这个角度看,科技企业,尤其是生物技术企业是个问题。所有行业都与变化打交道,但理想情况下,你应该投资于变化率较低的企业,而不是变化率较高的企业。

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They flooded liquidity in the marketplace but the mortgage rate is based much more on expectations of inflation. So if the average investor believes that there is inflation coming, they'll move that rate up.

它们向市场注入了大量流动性,但抵押贷款利率更多地是基于通胀预期。因此,如果普通投资者认为通胀即将到来,他们会将利率上调。

We, we - as I say, we go in and shake up other industries and I think, you know, we do it differently and I think that industries are not quite the same as a result of Virgin attacking the market.

就像我说的,我们进入并撼动其他行业,我认为,你知道,我们的做法不同,我认为,由于维珍进军市场,各个行业并不完全相同。

The investor of today does not profit from yesterday's growth.

今天的投资者不会从昨天的增长中获利。