Paradigm shifts tend to happen slowly, and then all at once. That’s the lesson I’ve taken away from the recent market turmoil. As I wrote last week, the surprise is only that the upset didn’t come sooner.
模式轉變往往先是進展緩慢,然后突然發生。這就是我從最近的市場動蕩中吸取的教訓。正如我上周所寫的,真正讓人意外的是,這種動蕩沒有來得更早。
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