通胀如何欺诈股票投资者.docxVIP

How Inflation Swindles the Equity Investor - by Warren Buffett 巴菲特：通货膨胀如何欺诈股票投资者 2011-05-18 16:25:44 The central problem in the stock market is that the return on capital hasn′t risen with inflation. It seems to be stuck at 12 percent.股票市场中最核心的问题是资本收益并没有随着通货膨胀而增加，将会有12%的收益流掉。by Warren E. Buffett, FORTUNE May 1977作者：沃伦 巴菲特，《财富》杂志1977年5月号It is no longer a secret that stocks, like bonds, do poorly in an inflationary environment. We have been in such an environment for most of the past decade, and it has indeed been a time of troubles for stocks. But the reasons for the stock markets problems