但是投资者将不得不区分挥霍浪费的州和审慎的州。

But investors will have to work to separate the prudent from the profligate.

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如果想让孩子成长为成功的储蓄者和投资者，他们需要掌握两个关键技能：如何推迟满足自己，以及如何审慎地冒险。

If children are to grow up to be successful savers and investors, they need to learn two key skills: how to delay gratification and how to take risks prudently.

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他说，只要审慎利用，鼓励谨慎的投资者，提醒其他市场公司面临的被错误理解的风险，卖空的确可以被视为一种有利的社会行为。

Used judiciously, to reward attentive investors and alert the broader market to ill-understood risks that a company faces, shorting may indeed be seen as a positive social act, he says.

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