投资者理性么？
如果投资者认为所有人都会采取同样做法，这可能是理性的。
This can be rational behaviour if investors think that everyone else will do the same.
那次辩论的合理延伸（假设大多数投资者是理性的）就是现在出售。
The logical extension of that argument (assuming most investors are rational) is to sell now.
之后的复苏很大程度上反映了投资者向更理性风险倾向的回归。
Much of the rebound since then reflects a return to more normal risk appetites.
其实这种聪明、合理的投资者并不一定都是非常理性的。
In fact, this smart, rational investors are not necessarily very rational.
三是即使一些非理性投资者具有相同的行为方式，证券市场依然是有效的。
Even if irrational investors' behavior shows no difference, securities market is still efficient.
三是即使一些非理性投资者具有相同的行为方式，证券市场依然是有效的。
Even if irrational investors' behavior shows no difference, securities market is still efficient.
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