反正也沒(méi)人看，干脆把專欄當(dāng)筆記算了。記錄些看外刊時(shí)候覺(jué)得對(duì)提高寫(xiě)作水平有用的東西。不提供翻譯和生詞解釋什么的。內(nèi)容自己看，我盡量選可能用得上的主題。每次就一段，所以我可能會(huì)一天發(fā)好幾篇?？梢杂盟槠瑫r(shí)間一次性看完，不用收藏夾吃灰。

That's?the only way to ensure that history doesn't repeat itself.

History repeats itself?歷史重演

When ETFs get too cute, things can get too ugly.

Things get ugly?事情變得糟糕，形勢(shì)不妙

Zillow Group's exit from the iBuying business last month was a wrecking ball?for the other companies in this new industry, which make online,?all-cash purchases of homes by the thousands.

Wrecking ball?破拆房屋用的那種吊起來(lái)的破碎球、落錘。用來(lái)比喻會(huì)帶來(lái)巨大影響（一石激起千層浪）

All-cash?purchases?無(wú)貸款，全現(xiàn)款購(gòu)買（住房）

The surrender of Zillow--after 3 years of effort, and write-offs exceeding a half-billion dollars--raised the?question of whether anyone can make money in digital home?buying.

Write-off?壞賬沖銷、減記、白忙活

Raise the question of?引出、帶來(lái)問(wèn)題，令人不禁想問(wèn)

Real estate is less liquid and more volatile, a worry to anyone whose memory extends back?to 2008.

能回想起2008年發(fā)生過(guò)什么事的人都會(huì)對(duì)它心懷憂慮。

The secret sauce of this model will be in the contribution?margin.

秘訣、法寶、秘密武器