再投资

The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities - that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future - will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight.

投资与投机之间永远是一线之隔，尤其是当所有市场的参与者都沈浸在欢愉的气氛当中时更是如此，再也没有比大笔不劳而获的金钱更让人失去理性，在经历过这类经验之后，再正常的人也会像参加舞会的灰姑娘一样被冲昏了头，他们明知在舞会中多待一会-也就是继续将大笔的资金投入到投机的活动之上，南瓜马车与老鼠驾驶现出原形的机率就越高，但他们还是舍不得错过这场盛大舞会的任何一分钟，所有人都打算继续待到最后一刻才离开，但问题是这场舞会中的时钟根

"The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities - that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future - will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."

C n！ h9 u5 O C： C昆山，bbs，论坛，昆山BBS，昆山论坛，kb，kbcool 投资与投机之间永远是一线之隔，尤其是当所有市场的参与者都沉浸在欢愉的气氛当中时更是如此，再也没有比大笔不劳而获的金钱更让人失去理性，在经历过这类经验之后，再正常的人也会像参加舞会的灰姑娘一样被冲昏了头，他们明知在舞会中多待一会也就是继续将大笔的资金投入到投机的活动之上，南瓜马车与老鼠驾驶现出原形的机率就越高，但他们还是舍不得错过这场盛大舞会的任何一分钟，所有人都打算继续待到最后一刻才离开，但问题是这场舞会中的时钟根本就没有指针！

Theline separating investment and speculation, which is never bright andclear, becomes blurred still further when most market participants haverecently enjoyed triumphs. Nothing sedates rationality like large dosesof effortless money. After a heady experience of that kind, normallysensible people drift into behavior akin to that of Cinderella at theball. They know that overstaying the festivities - that is, continuingto speculate in companies that have gigantic valuations relative to thecash they are likely to generate in the future - will eventually bringon pumpkins and mice. But they nevertheless hate to miss a singleminute of what is one helluva party. Therefore, the giddy participantsall plan to leave just seconds before midnight.

投资与投机之间永远是一线之隔，尤其是当所有市场的参与者都沉浸在欢愉的气氛当中时更是如此，再也没有比大笔不劳而获的金钱更让人失去理性，在经历过这类经验之后，再正常的人也会像参加舞会的灰姑娘一样被冲昏了头，他们明知在舞会中多待一会-也就是继续将大笔的资金投入到投机的活动之上，南瓜马车与老鼠驾驶现出原形的机率就越高，但他们还是舍不得错过这场盛大舞会的任何一分钟，所有人都打算继续待到最后一刻才离开，但问题是这场舞会中的时钟根本就没有指针！

Here are some of the rules, just to whet your appetite: Collect as Many Credit Cards as You Can and Use Them Frequently; Compete with Your Friends to See Who Can Own the Most Expensive and High-Status Possessions; Know in Your Gut That Only Suckers Work Hard for Money and That Smarties Like You Only Have to Find an Angle; Remember That Retirement Is a L-ooo-nnn-g Way Off, and Don't Even Think about It Right Now; Bear in Mind That Only "Little People" Pay Their Bills or Taxes; Don't Bother to Own Your Own Home Because Home Ownership Is a Hassle...and many more.

下面的几条规则，只是吊吊你的胃口：尽可能多收集信用卡，频繁地使用它们；把钱借给你的朋友，特别是男女朋友；和你的朋友比拼，谁钱花的最多；对垃圾股投资；想省钱的时候再省钱，你要是就不想省的话，那就别省……。

Third,international community has already proposed anti-monopoly law, we can make reference to European Anti-competition law,through case laws and mechanism,e.g.how to judge the monopoly behavious of corporations in the market,how to determine the corporation\'s leading position in the market,to monopolize the market through merger and acquisition of other corporations;besides,we can also make reference to law of other countries such as Fair Trading Act of the U.K.,the Competition Act of the U.K.,the Guidelines of merger in the U.S., Antitrust Act of the U.S.,the Guidelines of European Anti-trust laws, Guidelines on merger in European Union,and the Trade-Related Anti-Trust Measures,the Trade Related Investment Measures and etc.

第三，国际社会提出制定反垄断法的模式，我们可以参考欧盟垄断法，通过案例和机制，例如：怎样判定企业在市场的垄断行为、怎样界定市场支配地位、对公司通过合并与收购的行为来把市场垄断；再且，我们也会参考一些其它国家如英国公平贸易法、英国竞争法、美国的合并指引、美国垄断法、欧盟垄断法规指引、欧盟合并条例，还有《与贸易有关的及垄断措施协议》(Trade-Related Anti-Trust Measurers)、《与贸易有关的投资措施》(trade Related Investment Measures)等法规、条例来参考讨论。

" There is no critical boundary between speculation and investment, especially when all participators are immersed in delighted atmosphere, There is nothing so easier than large amount of unearned money that can lead person to loss the logos. Even more normal person will lose his head, after such kind of experience mentioned. The more time they stay in the dancing party, that is invest much capital into the speculative operation, the larger the proportion of The Pumpkin carriage and mouse driver show the hoof is. All of them intend to stay to the last minute rather than miss any minute of the dancing party. But the point is there is no pointer in the clock at all." Buffett wrote these words to shareholders in 2000 years.

&股神&巴菲特2000年写给股东的信中写道：&投资与投机之间永远是一线之隔，尤其是当所有市场的参与者都沉浸在欢愉的气氛当中时更是如此，再也没有比大笔不劳而获的金钱更让人失去理性，在经历过这类经验之后，再正常的人也会像参加舞会的灰姑娘一样被冲昏了头，他们明知在舞会中多待一会-也就是继续将大笔的资金投入到投机的活动之上，南瓜马车与老鼠驾驶现出原形的机率就越高，但他们还是舍不得错过这场盛大舞会的任何一分钟，所有人都打算继续待到最后一刻才离开，但问题是这场舞会中的时钟根本就没有指针！&

This shop sells a wide range of watches, all of which are the choicest.

经理说他想让我们先去海南了解一下那里的情况，然后再决定投资的事。

CIRe has experienced and gone through numerous catastrophes and calamities throughout its history, as well as numerous periods of turmoil in financial and investment markets.

中再国际在其历史上已经历无数次的灾难及灾祸，以及金融及投资市场的动荡。

As such, CIRe is applying even more emphasis on proper risk management of its operations and investment portfolio in preparation for possible continued financial and economic turmoil in the major global economies.

因此，中再国际进一步强调对其营运及投资组合进行适当的风险管理，以防范主要全球经济体可能出现的金融及经济波动。

On the basis of NCIDI-designed fire-tube boilers and their operation,and through analysis and comparison, the paper proposes the suitable type of fire-tube boiler for large-size high-parameter sulfur-based sulfuric acid production,and summarizes key points for structural design of critical components.

由于硫磺制酸的炉气清洁无尘，比较适合采用火管锅炉，再加上火管锅炉结构简单、操作方便、运行可靠、运行费用低，特别是中小型火管锅炉的投资比水管锅炉省等优点，所以最近几年来火管锅炉在硫磺制酸上的应用有了长足的发展。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。