The market portfolio is efficient if and only if all investors hold mean-variance efficient portfolios.
当且仅当所有投资者都持有均值-方差有效的投资组合时，市场组合才是有效的。
The writer is a spiritual anarchist, as in the depth of his soul every man is. He is discontented with everything and everybody. The writer is everybody's scapegoat and everybody's prophet.
"The greatest magic is not in the spells we cast, but in the lives we touch."
