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Investors have few spare tires left. Think of the image of a car on a bumpy road to an uncertain destination that has already used up its spare tire. The cash reserves of people have been eaten up by the recent market volatility.

投资者已所剩无几。想象一下这样一幅画面:一辆汽车在通往一个不确定目的地的坎坷道路上,它的备用轮胎已经用完了。人们的现金储备已被最近的市场波动耗尽。

— Mohamed El Erian 穆罕默德·埃利安

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