May 28, 2022.
ch1: It is art. different and better.
ch2: discuss on market efficiency. where to play. away from mainstream.
May 29, 2022.
ch3: (random walk hypothesis vs. momentum investing). Value vs. Growth investing.
"it’s impossible to consistently do the right thing at the right time."
ch4: psychology. buying below the fair value.
"the forced selling that takes place when market crashes cause levered investors to receive margin calls and be sold out, and the inflows of cash to mutual funds that require portfolio managers to buy. In both cases, people are forced to enter into securities transactions without much regard for price"
生词：
ch1.
pyrrhic victory: is a victory that inflicts such a devastating toll on the victor that it is tantamount to defeat. Such a victory negates any true sense of achievement or damages long-term progress.
comport: present.
do darnedest: try most.
proselytizers: a person who to tries to persuade other people to accept a particular religious or political belief, idea, or way of life.
eminent: obvious.
ch2.
upshot: final outcome
ramifications: a complex or unwelcome consequence
halcyon periods: Periods of calm during the winter, when storms do not occur
a budding investor: starting...
ch3.
gauge: measure
cerebral: relating to brain.
dull plodding: slow-moving and unexciting.
adrenaline: 肾上腺素
squander: spend freely, waste.
offing: the more distant part of the sea in view.
ch4.
stalwart company: powerful, sturdy
exogenous factors: external factors
manifestation: demonstration
morph into: change into
infatuation: an intense but short-lived passion or admiration
Serendipity: an unplanned fortunate discovery
Convergence: The term convergence is the opposite of divergence. It is used to describe the phenomenon of the futures price and the cash price of the underlying commodity moving closer together over time.