巴菲特：非常富有的经济学家在哪里？

https://www.youtube.com/watch?v=uMzg4ymIwE4 https://buffett.cnbc.com/video/2016/02/29/buffett-name-me-one-super-wealthy-economist.html

所有这些有160 IQ的经济学家，他们一生都在学习，你能说出一位曾经从证券中赚钱的超级富有的经济学家吗？ All of these economist 160 IQs to spend their life studying and can you name me one super wealthy economist that’s ever made money out of securities?

我们来一个个细数一下 Let me just go down the list now.

实际上，凯恩斯早年曾试图通过预测商业行为来赚钱。 他放弃了。 然后他采用了格雷厄姆式的方法。 如果你阅读他在这方面的历史你会发现非常有趣，因为他认为他可以通过查看各种经济变量来择时投资他所谓的信贷周期，并从中赚到很多钱。他在这样做时破产了几次。他不得不向人们借钱，然后他决定以便宜的价格购买他理解的好企业，并集中投资，他做得很好。 这是一段有趣的历史。 Keynes actually in his early years tried to make money in stocks by predicting what business would do. He gave it up. Then he went over to a Graham type approach. It’s very interesting to read his history on this because he thought he could by looking at various economic variables pick what he called the credit cycle and making a lot of money in. He broke a couple of times when doing it. He had to borrow from people and then he was settled on buying good businesses cheap that he understood and concentrating his investments and he did very well. It’s an interesting history.

如果你看看这些经济学家的生平，你就会知道他们在买卖股票时赚不了很多钱。 但是买卖股票的人都听他们的，这就是我有一点不太能理解的。 If you look at the whole history of them, you know they don’t make a lot of money buying and selling stocks. But people who buy and sell stocks listen to them which is I have a little trouble.