For unreconstructed efficient market theorists, bubbles do not exist. For semi-reconstructed ones, they exist but, as former Federal Reserve chairman Alan Greenspan claimed in the late 1990s, they are perceptible only after the fact. To spot a bubble in advance, he declared, requires a judgment that hundreds of thousands of informed investors have it all wrong.
对于顽固守旧的有效市场理论者而言，泡沫并不存在。对于半开明的人来说，泡沫存在，但如美联储(Fed)前主席艾伦•格林斯潘(Alan Greenspan)上世纪90年代末的断言，泡沫只有在成为既成事实后才会被察觉。他声称，想提前发觉泡沫，要求拥有超强的判断力，在成千上万拥有知识和信息的投资者全都搞错的时候，做出正确判断。
您已阅读9%（522字），剩余91%（5163字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。