来自《耶鲁大学开放课程：金融市场第9集第9集》

--a good diversifying tool for the university.

对学校来说是个很好的多元化延伸
The question was

问题是
whether we were looking to take more short positions

在经济表现出走向衰退时
as the economy appears to be moving into recession

我们是否会做更多空头
and I guess the second part of the question was

我想这个问题的另一面就是
how do you remain bullish in this kind of environment.

在那种情况下如何保持市场信心
I think the best answer to that is a quote

我可以用我同行的一句话
from one of my contemporaries,

来回答这个问题
who I think is one of the best investment managers out there.

他在我眼中是最优秀的投资经理
A guy named Seth Klarman,

他叫塞斯·克拉曼
who works at a fund in Boston called Baupost,

在波士顿的Baupost基金工作
said that what he does is worries top-down

他说他的工作就是自上而下地担心