双语阅读：教你如何从通货膨胀中获利.docxVIP

The most talked-about investing strategy these days isnt stuffing money in a mattress, its the reflation trade-the bet that the world economy will rebound, driving up interest rates and commodities prices.就市场而言，最近谈的最多的投资策略并不是寻求避险，而是通货再膨胀交易——下注全球经济将复苏，从而推高利率水平和大宗商品价格。Even though the economy continues to struggle, investors are looking ahead to the time when the massive rescue efforts by central banks and governments gain traction.即便目前经济仍然走势蹒跚，投资者却具有前瞻性地看到那了各国央行和政府的大规模救助举措发挥作用的时刻。They are focused on raw materials and commodity-related stocks that would benefit from the surge in infrastructure spending. They are looking to exploit potential bottlenecks in production that could lift prices and corporate earnings.他们重点关注原材料和大宗商品相关类股，这些类股可能会从基础设施支出的飘升中受益。他们还期望从生产瓶颈中获利，生产瓶颈会推高价格和企业利润。Between the bailouts and the stimulus, its pretty clear that were going to have some inflation when we get out of this mess, says Roger lbbotson, founder of lbbotson Associates and chairman of hedge-fund manager Zebra Capital Management. He says, It may not show up for another two years, after that I think its quite likely and I think you should be positioning a portfolio against that.伊博森伙伴咨询公司创始人、对冲基金公司斑马资本管理有限公司董事长伊博森说在诸多救助计划和剌激计划中，很明显我们走出经济危机的时候会出现一些通货膨胀。“他说，或许这种情况两年之内不会出现，但我认为在两年之后，很有可能出现，我觉得你们应该针对这种情况设置一个投资组合。”Shawn Rubin, an adviser at Smith Barney in New York, has moved some clients partly into natural-resources stocks while using strategies to protect against a spike in inflation.史密斯·邦尼公司驻纽约顾问肖恩·鲁宾已经将一些客户的部分投资转移至自然资源类股，同时使用策略应对通货膨胀上升的风险。One way is to use options, where an investor is able to use relatively small amounts of money and take positions that would profit from a massive drop in Treasury prices or a near doubling in gold prices. While in the short run such trades may not work, its a long-term move, Mr. Rubin says. You should buy insurance when its cheap.期权是一种手段，投资者可以使用相对较少的资金，建立头寸应对国债价格大幅下挫或金价上涨将近一倍的情况。如果出现这种情况，他们就能从中获利。鲁宾说，“尽管此类交易短期可能不会奏效，这是一个长期性举措。你得趁成本低廉的时候就采取防范性措施。”And desp