新兴市场投资者更需分散投资

Emerging markets like India and China continue to be a favorite destination for global investors in 2010.

2010年，印度和中国等新兴市场仍然深受全球投资者青睐。
　　
The attraction is clear: fast-growing economies, with booming stock markets. Its not just large hedge funds investing here; average Joe's in the developed world are putting part of their retirement savings in emerging markets to diversify their investments too.

它们的吸引力显而易见：都是迅速增长的经济体，股市蓬勃兴旺。在这里投资的不光是大型对冲基金；发达国家的普通老百姓也将自己存下来的退休金投入新兴市场，以实现投资多样化。
　　
But what should residents of emerging markets do?

但新兴市场的民众又该怎么办呢？
　　
By virtue of living in India or China, you could be overexposed to emerging markets. If there's a serious downturn in the economy of your home country, it could hurt everything from your job to your local stock investments.

要是生活在印度和中国，就会面对过高的新兴市场风险敞口。一旦你所在的国家发生严重经济下滑，从你的工作到本地股票投资在内的一切都会受损。
　　
We saw that in the late 1990s, during the Asian crisis, when a collapse in the Thai baht spooked global investors and led to sharp declines in several Asian currencies, economies and stock markets, including those of South Korea and Hong Kong, while India's benchmark Sensex fell 25% in one year following the August 1997 crash.

上世纪90年代末期亚洲金融危机期间已经有过这种情况。当时泰铢崩溃吓倒了全球投资者，并让韩国、香港等地的货币急剧贬值、经济和股市大幅下挫，印度基准的Sensex指数于1997年8月暴跌之后，接下来的一年内下滑25%。
　　
Sure, Asian economies are much healthier now, and the U.S. and European economies are sluggish. But emerging markets can change quickly.

没错，目前亚洲各个经济体的状况要好多了，欧美经济体则停滞不前。然而新兴市场的变化却有可能让人措手不及。
　　
As a financial adviser once explained to me: It's because we don't know, that we diversify.

正如一位财务顾问曾经向我解释过的：正因为我们不了解，所以才要分散投资。