长期资本

事实上，长期资本管理公司就是这样倒闭的。

In fact , this is exactly what sank LTCM .

但值得一提的是：1998年为长期资本管理公司（Long-TermCapitalManagement）纾困的公司事实上很快就获利不菲。

But it is worth recalling that the firms that bailed out Long-Term Capital Management in 1998 in fact profited nicely , and relatively quickly .

长期资本管理公司（longtermcapitalmanagement）危机存在同样的问题。

The long term capital management crisis had a similar problem .

在1997年长期资本管理公司（long-termcapitalmanagement）的垮台中，数学模型也受到指责。

After long term capital management imploded in 1997 , the models were to blame .

十多年前，长期资本管理公司（longtermcapitalmanagement）宣告破产，之后出台的一份政府报告呼吁对衍生品市场进行改革。

Following the collapse of long term capital management more than 10 years ago , a government report called for derivatives market reform .

然而，这个事件引发了全球金融市场的恐慌，并最终导致美国长期资本管理公司（Long-TermCapitalManagement）破产，造成严重的金融灾难。

Yet that event led to global panic in financial markets that ultimately triggered the Long Term Capital Management implosion and significant financial distress .

程寿康表示，在1987年股市崩盘和1998年长期资本管理公司（long-termcapitalmanagement）倒闭以后，拍卖市场继续繁荣了近两年的时间。

Mr Ching said auction sales continued to thrive for about two years after the 1987 stock market crash and the 1998 long-term capital management collapse .

1998年，在对冲基金长期资本管理公司（long-termcapitalmanagement）倒闭后，利率被大幅下调，2001年股市崩盘时又被进一步下调。

Rates were then sharply reduced in 1998 , after the collapse of the hedge fund long-term capital management , and were lowered again when the stock market collapsed in 2001 .

在1998年长期资本管理公司（long-termcapitalmanagement）濒临崩溃时，巴菲特给了其管理层一个小时的时间来决定，是接受还是拒绝他现金注资的条件。

When the hedge fund long term capital management was imploding in 1998 , Mr Buffett gave its managers an hour to accept or reject his terms for a cash infusion .

上世纪90年代晚期，能够震动市场的危机类似于长期资本管理（Long-TermCapitalManagement）危机，后者是一家对冲基金，最后让美国联邦储备系统（FederalReserve，简称美联储）耗资36亿美元救援。

In the late 90s , a market-rattling crisis meant something like long-term capital management , a hedge fund that cost the Federal Reserve $ 3.6 billion to bail out .

作为一个结果性的业绩指标，EVA对于解决长期资本分配以及资源配置领域中的管理问题作用较大，并且用于激励系统时效果较佳。

As a performance evaluation index , EVA have great effect on allotting the long-term capital and the inspirit system .

我们的“长期资本”（patientcapital）策略要求我们投资于那些具有商业头脑，同时对于边缘化人群抱有同情心、用他们的头脑和心去思考的企业家。

Our " patient capital " approach requires us to invest in entrepreneurs who possess a fine balance of business acumen and compassion for the marginalised , someone who thinks with their head and their heart .

在1998年长期资本管理公司（long-termcapitalmanagement）崩溃和新兴市场危机之后，各种一篮子指数和信贷违约掉期（cds）等新产品被创造出来，以帮助抵消各种风险。

After the collapse long-term capital management and the crisis in emerging markets in 1998 , new products such as various basket indices and credit default swaps were created to help offset a number of risks .

1998年，长期资本管理公司（long-termcapitalmanagement）被迫接受银行援救之后，几个主管又继续为一些新对冲基金募集了数十亿美元的资金，这其中至少有两只基金在去年陷入困境。

Several executives of long-term capital management , which had to be rescued by banks in 1998 , went on to secure billions of dollars for new hedge funds , though at least two of those hit problems last year .

1987年股灾和1998年长期资本管理公司（long-termcapitalmanagement）覆没的一大教训是，如果反应快速，政策制定者可以将“华尔街”与“商业街”隔离开来。

One of the big lessons of the 1987 stock market crash , and again the 1998 long-term capital management debacle , is that by their fast reactions , policymakers can isolate " Wall Street " from " main street " .

Jupiter中国基金的目标，是通过主要投资于中国（包括香港）的公司来获得长期资本增长。

The objective of the fund is to achieve long-term capital growth through investing principally in companies in China , including Hong Kong .

从1998年长期资本管理公司（Long-TermCapitalManagement）的约翰梅里维瑟（JohnMeriwether）至今，人们经常在濒临倒闭的银行和对冲基金高管那里听到这类言论，仿佛它们根本不存在真正的问题。

One often hears such talk from the heads of failing banks and hedge funds , from John Meriwether of Long-Term Capital Management in 1998 onwards , as if nothing were really wrong .

纽约联邦储备银行（NewYorkFed）一名高级官员曾在1998年与塞恩共事，营救破产的对冲基金长期资本管理公司（LTCM）。这位官员将当时的塞恩形容为冰冷如石的杀手。

A senior New York Fed official who worked with him in 1998 , on the rescue of the failed hedge fund Long-Term Capital Management , describes Thain at that time as a stone-cold killer .

市场一旦出现崩盘，达德利将在稳定市场方面发挥关键作用，就像对冲基金长期资本管理公司（longtermcapitalmanagement）濒临破产之后，其前任之一彼得费希尔（peterfisher）所做的那样。

Mr Dudley would also play a crucial role in stabilising the markets in the event of a meltdown , as one of his predecessors , Peter Fisher , did following the near collapse of long term capital management , the hedge fund .

吉莲•邰蒂（GillianTett），美国执行主编：《赌金者：长期资本管理公司的升腾与陨落》，罗杰•洛温斯坦（RogerLowenstein）著，2000年

GillianTett , US managing editor : When Genius Failed : The Rise and Fall of Long-TermCapital Management , by Roger Lowenstein ( 2000 )

贝尔斯登（bearstearns）的失败，让人想起标志着前几次危机见底的类似爆炸性事件，如1974年herstadt银行的破产，以及1998年长期资本管理公司（long-termcapitalmanagement）的灭亡。

And the failure of Bear Stearns is reminiscent of similar catharses that have marked the bottom of earlier crises , from the failure of herstadt bank in 1974 to the demise of long-term capital management in 1998 .

美国长期资本管理公司（LTCM）也是一场完美风暴的受害者。

Long Term Capital Management was also the victim of a perfect storm .

1997年，罗伯特•默顿（RobertMerton）和迈伦•斯克尔斯（MyronScholes）凭借在期权定价领域的研究成果获得诺贝尔经济学奖，此后不到一年默顿和斯克尔斯担任合伙人的对冲基金长期资本管理公司（Long-TermCapitalManagement）就受到了戏剧性的救助。

Robert Merton and Myron Scholes won in 1997 for their work on option pricing - less than a year before the dramatic bailout of Long-Term Capital Management , a hedge fund in which Merton and Scholes were closely involved .

《赌金者》依靠艰苦的研究，扣人心弦地叙述了长期资本管理公司（LTCM）的倾覆。

When Genius Failed provides a compelling account ofhow Long-Term Capital Management collapsed , drawing on painstaking research .

本文介绍了用于估算MIS成本&收益的资本预算模型，资本预算模型是用于计量长期资本投资项目投资值的方法之一，信息系统可以看作为长期资本投资项目。

This paper introduces the capital budgeting models for evaluating the cost-benefit of MIS . Capital budgeting models are one of several methods used to measure the value of investing in long-term capital investment projects . Information systems are considered long-term capital investment projects .

这种压力将直指中国。尽管中国是大量长期资本流入的净接受国，但其经常账户盈余已超过GDP的7%，而且中国正进行大规模干预以压低币值。

This pressure would be directed against China , which is running a current-account surplus of more than 7 per cent of GDP , in spite of being a net recipient of substantial long-term capital inflows , and is also engaged in huge intervention aimed at keeping its currency down .

IIS的主要发行者是政府，对政府发行人来说，IIS能够降低政府的借债成本，帮助维持长期资本市场，还可以运用IIS保持财政收支平衡以防范相应的风险。

Major issuers of IIS are the governments of sovereign states . IIS could lower the cost of borrowing for the government and help to maintain the stability of capital market in long term . The government could use IIS to reduce fiscal deficits and curb corresponding risks too .

1998年长期资本管理基金（LTCM）破产后，债券交易策略开始变得臭名昭著，如今只有少数几家基金仍在使用这种策略，Barnegat便是其中之一。

The Barnegat fund is one of only a handful of funds still in existence that use the bond trading strategy made infamous by the collapse of Long Term Capital Management in 1998 .

这一不确定性还高于1987年股市崩盘之后、第一次与第二次海湾战争时期、以及1998年俄罗斯及长期资本管理公司（ltcm）债务违约时期（见图表1）。

It is also higher than after the stock market crash of 1987 , the start of the first and second Gulf wars and the default of Russia and long-term capital management in 1998 ( see chart 1 ) .

金融市场主要包括长期资本市场与短期资金市场。

Financial market mainly includes capital market and money market .