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.
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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