本格雷厄姆[传奇投资顾问] ，基本上说，市场就像是躁狂抑郁症。 He put it in mathematical terms, but the metaphor was this: You have a business worth $5 million, and you have an equal partner called Mr. Market, who's affected by mood swings. 他在数学方面，但这个比喻是这样的：你有商业价值500万美元，和你有一个平等的伙伴所谓市场先生，谁受情绪波动。 One day, Mr. Market's feeling gloomy, he's sick of the business, and he offers to sell you his share for $500,000. 有一天，市场先生的感觉令人沮丧，他生病的业务，他愿意出售你自己份额为500000 。 Another day, it's the first day of spring, he thinks the business is super and he offers to buy your half for $10 million. 另一天，这是第一天的春天，他认为该业务是超和他提供购买您的一半1000万美元。
There are times when the whole market is manic like that -- now is one good example.有些时候整个市场是这样的躁狂-现在是一个很好的例子。 There are times when individual stocks are like that.有些时候个别股票是这样。 And they can be manic for no reason, or for a good reason.他们可以疯狂的没有理由，或为一个很好的理由。 But these mood swings give opportunities to buy stocks at extremely low prices.但是，这些情绪波动的机会，给予买进股票以极低的价格。