对冲基金大佬Einhorn：价值投资可能再也回不来了
1. 目前这个行情，大多数价值投资者已经破产了（out of business），所以市场结构发生了极其严重的改变。（意思是市场上炒客、投机盛行。）
2. 就算没破产，”我们（Enhorn认为自己是价投）也剩得不多了“，很多人要么转去做了量化，要么就粗暴直接做被动指数投资。以价投的方法训练出来的基金经理在市场上不多了。
3.因为市场上的价投少了，所以真正关心公司基本面的投资者就少了，以至于非常多的公司被错误定价。交易者甚至完全不知道自己的交易标的，到底大概值多少
以下是英文报道原文：
Hedge fund manager David Einhorn said he doesn’t know if value investing will ever be in vogue again.
“I don’t know that it ever comes back,” the Green Capital founder said Tuesday in an interview with Bloomberg Television on the sidelines of the Robin Hood Investors Conference in New York. Einhorn, 53, said most value investors are being put out of business, citing “serious changes to the market structure.”
“There’s just very few of us left,” he said, adding that most market participants these days are not trained or experienced in value investing, or have shifted to passive or quantitative investing.
Fewer players means there’s no one to notice what’s happening to these companies and “nobody knows what anything is worth,” Einhorn said. “So there’s an enormous number of companies that are dramatically mis-valued in ways that we haven’t seen before.”
1. 目前这个行情，大多数价值投资者已经破产了（out of business），所以市场结构发生了极其严重的改变。（意思是市场上炒客、投机盛行。）
2. 就算没破产，”我们（Enhorn认为自己是价投）也剩得不多了“，很多人要么转去做了量化，要么就粗暴直接做被动指数投资。以价投的方法训练出来的基金经理在市场上不多了。
3.因为市场上的价投少了，所以真正关心公司基本面的投资者就少了，以至于非常多的公司被错误定价。交易者甚至完全不知道自己的交易标的，到底大概值多少
以下是英文报道原文：
Hedge fund manager David Einhorn said he doesn’t know if value investing will ever be in vogue again.
“I don’t know that it ever comes back,” the Green Capital founder said Tuesday in an interview with Bloomberg Television on the sidelines of the Robin Hood Investors Conference in New York. Einhorn, 53, said most value investors are being put out of business, citing “serious changes to the market structure.”
“There’s just very few of us left,” he said, adding that most market participants these days are not trained or experienced in value investing, or have shifted to passive or quantitative investing.
Fewer players means there’s no one to notice what’s happening to these companies and “nobody knows what anything is worth,” Einhorn said. “So there’s an enormous number of companies that are dramatically mis-valued in ways that we haven’t seen before.”
Our job in the life time is not to shape ourselves into the ideal we imagine we ought to be, but to find out who we already are and becoming ourselves. Do what you love like no one is watching. Of course fear will arise, but a better question to ask - what’s the best that can happen?
劳资好想吃烧烤
劳资好想吃烧烤
【今日#寒露# | 寒花开已尽，菊蕊独盈枝】Cold Dew is the 17th of the 24 solar terms. At this time, temperatures are much lower than those during White Dew in most areas of China. The chrysanthemum is the iconic flower of Cold Dew. To prevent autumn dryness, many regions in China have the custom of drinking chrysanthemum wine.
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