非常严重:道德风险让此类保险合同显得荒谬可笑。
这种”微观审慎”哲学一直饱受争议,而今更是显得荒谬不经。
This “micro-prudential” philosophy was always questionable. Now it looks absurd.
最好的卖出时间是当盈利预期到顶,商业模式到头,或者估值开始显得荒谬时。
The best time to sell is when the earnings expectations have peaked, the business model has peaked, or the valuations appear ridiculous.
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