主题：比尔.盖茨/沃伦.巴菲特：答商学院学生问 -- 万年看客

1.

巴菲特's 理性 is well demonstrated in his investment, now in retrospect: we all know he has a profound understanding of both US economy, and Chinese economy, his famous investment picks are well known.

other than 巴菲特's 理性 of so called "fundamental analysis", we now have what I called AI modeled 理性" of today's "AI 巴菲特": everybody knows that a few HFT firms in WS almost always make money by day trading, they obviously have their kinds of market 理性 modeled out;

and how about TGchina's 理性? very hard to model if you are not one of the insiders.

2.

杨振宁的理性--相位場

normally, in physics, 粒子 or whatever a 物理 thing has some kind of 色散關係 equations, but often it is local, and I think that is physics of our feelings, sense etc.

"我们当初只顾贪便宜，结果陷入了一个非常糟糕的行当。我把这种投资叫做“烟屁股投资”：地上扔着个脏兮兮的烟屁股，但是还可以再吸一口，而且不要钱（笑声）。"

generally speaking, local physics law will make sure most of us will do that kinds of investment, non 理性 investment. period.

杨振宁 is basically saying, his 相位場 can help people to connect local physics law globally, therefore we have some kind of 理性, as opposed to be a local animal only.

as posted before, 杨振宁相位場 is still a work in progress thing, in terms of research.

but his insight is very profound.

this is a good piece, 比尔.盖茨/沃伦.巴菲特：答商学院学生问, I like 巴菲特 part much better.

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色散关系- 维基百科，自由的百科全书

zh.wikipedia.org/zh-hk/色散关系

轉為繁體網頁

在物理学中，色散关系指系统能量与其相应动量之间的关系。譬如，在空间中自由运动的 ... 在这个简单的例子中，色散关系是一个二次函数。更为复杂的系统具有其他