The welfare cost of business cycles is not the cycles themselves but the inability of individuals to smooth consumption over time.
经济周期的福利成本并非周期本身，而是个体无法随时间平滑消费的能力。
"Love is all that matters in the end."
"我不是一个女人，我是一个词。"
求知若渴，大智若愚。这是我一直想做到的。眼下正值诸位大学毕业、开始新生活之际，我同样愿大家：Stay Hungry. Stay Foolish. 好学若饥、谦卑若愚。
The key to successful investing is to have a long-term perspective, a disciplined approach, and a clear understanding of the market and the risks involved.
艺术的目的是感动人心。