逆周期投资

行为人的行为是为了消除自己的不适感，当他面临几个行为上的选择时，他会选择执行边际效益最高的行为选择。

Time preference term expresses the willingness to renounce present wants in order to be able to better satisfy future wants. This preference differs from individual to individual, and is by no means constant. High time preference designates the fact that the timing of an action is accorded especially high value.

人的行为具有事件偏好，人们愿意放弃当下的需求，以满足将来的某些需求。这种偏好因人而异，而且绝不是一成不变的。 高时间偏好表明一个动作的时机被赋予特别高的价值。

消费降级：劣等商品具有逆周期的特征，在经济下行时期这些商品不会大幅下降，可能维持现状甚至提升，比如食品、粮食、饮料、酒类、健康医疗等。

债务比较低、现金流动性比较多的这种。

承担风险

投资始终是一种创业活动。它包括承担不确定的风险，以期为他人的利益创造未来价值。从奥地利学派的主观主义（subjectivism）观念来看，你做一件事情应该满足如下特征：

1. It needs to address a human want or goal.
2. People need to be informed of the offer.
3. The good or service must be made available to people at the proper place and point in time.

还可以通过如下方式创造更大的价值：

1. The recognition of unsatisfied or poorly served needs.
2. The improvement of existing solutions.
3. Teaching about existing solutions.
4. Improving the availability of such solutions.

One’s own needs, wants and ends in conjunction with the circumstances one is most familiar with due to one’s own professional and life experience, are the logical starting point of new entrepreneurial approaches.

一个人自己的需求、愿望和目标，与自己因职业和生活经历而最熟悉的环境相结合，是新创业方法的逻辑起点。

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