假如由女性来掌管金融界.docVIP

假如由女性来掌管金融界 Fess up, fellows: The masters of the universe have turned out to be masters of disaster. No matter which aspect of the financial crisis you consider, there is a man behind it.大伙儿说实话吧，男人自以为是宇宙的主宰，结果却成了灾难的源头。无论从哪个角度来看这次的金融危机，背后都有一个男人是罪魁祸首。 So, it is worth pointing out how different things might be if the financial world were female.所以我们有必要指出，如果金融界由女人来掌管的话，情况应该会有所不同。 Finance professors Brad Barber and Terrance Odean have found that womens risk-adjusted returns beat those of men by an average of about one percentage point annually. In short, women trade less frequently, hold less volatile portfolios and expect lower returns than men do.金融学教授布莱德·巴伯(Brad Barber)和特伦斯·奥丁(Terrance Odean)发现，女人的年投资回报率（经风险因素调整后）比男人平均高于约一个百分点。总结来看，女人的交易频率更低，持有组合的波动性更低，对回报率的心理预期也比男人低。 On the other hand, in the testosterone-poisoned sandbox of the male investor, the most important thing is beating the other guy; the second most important: bragging about it. The long term is somebody elses problem, and asking for advice is an admission of inferiority. Worrying about risk is for sissies. Leverage is good, since it raises returns -- while the market goes up. Is it any wonder the male-dominated world of Wall Street has boomed and busted every few years for more than two centuries?从另一方面来看，在男性荷尔蒙旺盛的老爷们儿唱主角的投资界，最重要的事情是打败其他的男人，第二重要的事情是炫耀自己的胜利。至于长期回报率，则是别人的问题。向别人请教等于承认自己的无能，担心投资风险显得娘娘腔。杠杆很好，因为当市场上涨的时候它能提高回报率。因此，两个多世纪以来，男人唱主角的华尔街市场每隔几年就会经历一次繁荣和随后的泡沫破灭，一点也不足以为奇。 Women, by contrast, put safety first. Even after controlling for age, income and marital status, women are more inclined than men to wear seat belts, avoid cigarette smoking, floss and brush their teeth and get their blood pressure checked. They even have been shown to be 40% less prone than men to run yellow traffic lights.与此相反的是，女人总是把安全放在第一位。即使经过年龄、收入水平和婚姻状况的筛选后，女性仍比男性更习惯于开车系安全带、避免吸烟、经常刷牙和定期检查血压，女人黄灯抢行的几率甚至都要比男人低40%。 Women are less afflicted than men by overconfidence, or the delusion that they know more than they really do. And th