这一使人灰心的概念获得了一些国度的数据支撑——奥密克戎初次被发明后仅一个月内就在这些国度敏捷传布开来——但初期证据表白，该变异株重要致使轻症，疫苗接种和增强针有助于预防重症和灭亡。
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传统的投资观念认为，年数越大，投资于股市的比重就越少。来由是，从持久来看，股票确切会上涨，但短时间内可能会呈现很大颠簸，若是你已老了，你没有时候从熊市中规复过来。学院派经济学家和财政投资参谋对投资布局发生了分歧的看法。
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The economic justification for being heavy into stocks in one’s youth is not that stocks will surely rise over time, because they might not. It’s that most of young people’s wealth is human capital — that is, their own earning power. For people with steady jobs, that human capital is like a bond: It produces a reliable income, and for most professions, it’s not highly correlated with stocks.
年青时大量投资于股票的经济来由不是股票必定会跟着时候的推移而上涨，由于它们可能其实不会上涨。年青人的大部门财产都是人力本钱——即他们本身的赚钱能力。对付有不乱事情的人来讲，人力本钱就像一种债券：它能发生靠得住的收入，对大大都职业来讲，与股票并不是高度类似。
So it makes sense to offset that bondlike human capital with a financialportfoliotilted toward stocks. Plus, if their stocks do badly, young people have time tomake up forit by intensifying their work effort and earning more money.
是以，用侧重股票的金融投资组合来抵消雷同于债券的人力本钱是有事理的。别的，若是他们的股票表示欠安，年青人有时候经由过程加大事情强度、赚更多的钱来补充。
The investment industry offers funds that gradually reduce the allocation to stocks over the investor’s working life, based on one’s target date for retirement. Target-date funds accounted for 27 percent of assets in 401(k) accounts at the end of 2018, up from 7 percent a decade earlier, according to the Investment Company Institute.
翻译划线句，长按文末小步伐码打卡，谜底下期颁布~按照投资公司协会的数据，2018年末，退休方针日基金占401（k）账户资产的比重从十年前的7%提高到了27%。
But many target-date funds leave people with too much of their money in stocks in their final years of working and the early years of retirement, Kotlikoff argues. Some investors make matters worse by putting only some of their money into a target-date fund and leaving the rest in more aggressive stock mutual funds, which makes their overall portfolios overexposed to the stock market.
但考利考夫认为，很多方针日期型基金常常致使一小我事情的最后几年和退休前几年把过量的资金投入到股市中。一些投资者只将部门资金投入方针日期基金，而将其余资金投入更激进的股票配合基金，这使得他们的总体投资组合对股市的敞口过大，让环境变得更糟。
One reason that economists and financial advisers seem to operate in different worlds is that academic economists aren’t rewarded for applying their theories to real people, which can involve a lot ofbothersomedetail. Like Kotlikoff, some other authors say investors should focus on what living standards they can maintain rather than the size
of theirnest eggs. They also lean hard against the idea that stocks are a sure thing. “At no time will we argue that your risk in the stock market goes away or even diminishes over time,” they write. “This popular and ratherseductivebelief is a fabrication based on misconception, illusion and confusion.”
经济学家和财政参谋彷佛在彻底分歧的世界里事情，缘由之一在于，学院派经济学家不会由于本身的理论被利用于实际糊口中而获得任何嘉奖，由于实际糊口会触及不少贫苦的细节。和考利考夫同样，其他一些作者也说，投资者应当存眷的是他们能保持甚么样的糊口程度，而不是他们的储备金额。他们也偏向于强烈否决股票是稳健资产的概念。他们写道:“咱们永久不会认为你在股市中的危害会跟着时候的推移而消散，乃至削减。”“这类风行的、至关诱人的信心是基于误会、错觉和蒙昧而编造出来的。”
本文节选自：The New York Times（纽约时报）
公布时候：2022.01.06
辞汇堆集
1.portfolio
英 [p??t?f??li??]美 [p??rt?fo?lio?]
n.文件夹；公务包；(求职时用以证实资格的)作品，整套照片；(小我或机构的)投资组合，有价证券组合；（部长或大臣的）职责，职务；系列产物，系列办事
2.bothersome
英 [?b?e?s?m]美 [?bɑ?e?rs?m]
adj.引发贫苦的；困扰人的
3.seductive
英 [s??d?kt?v]美 [s??d?kt?v]
adj.诱人的；迷人的；有魅力的；性感的；有吸引力的；使人向往的
词组搭配
1.make up for 补充，抵偿（使人烦懑的@遭%7KXdd%受或丧%49d2n%失@）
2.nest eggs
写作句总结
So it makes sense to offset that bondlike human capital with a financial portfolio tilted toward stocks.
布局:It makes sense to do sth.
做某事是成心义的
例句:It makes sense to find your interest.
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