The past, like the future, is indefinite and exists only as a spectrum of possibilities.
Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter.
资本资产定价模型并非旨在描述投资者实际行为的实证理论,而是关于理性投资者应如何行事的规范理论。