Hillhouse is a long-term investor. Lei thinks that when you have a long-term orientation, from day one you have a huge advantage over most people – it’s what he calls free option value of time arbitrage. His view on the Chinese stock market at the time of this speech: “It’s like 1999 all over again, but times three.” The environment is so bubbly that any company that changes its name into something internet related could get an elevated multiple on their valuations.（当你是一位长期投资者时，你便比大部分人拥有巨大的优势，即时间套利的期权价值。张磊认为现在中国的股市对于互联网企业就像1999年，但还要乘三倍。任何股票改个名字沾上互联网，估值立即翻几倍。）大众车排放门损失
一边是亚太区高居第三的网购热情，一边是步履蹒跚的网购模式，真不知道这种热情从何而来？又如何能居高不下？欧联杯
同时，详细看了各家的新品之后，我深深地感受到整个移动通信行业的潮水正在褪去，泡沫即将破灭。而MWC2016就像是“魔法棒”一样扯掉许多裸泳企业的“遮羞布”。接下来，就谈谈2016移动通信行业可能的趋势。人民币汇率
