I'm not going to be thinking I'm clever, and can pick winners and losers, I'm just betting on the market as a whole.
我觉得我不聪明不知道,那只股好哪只股差,我就看市场行情整体是好是坏。
Well, they created special entities called SIVs and the SIVs would be borrowing money on the commercial paper market to buy subprime loans.
银行建立特殊实体结构投资公司,而结构投资公司,通过在纸货市场借贷,以购入次级债
You just need to be as good as everyone else on the market.
只需做得跟其他供应商一样好即可。
The other thing that I mentioned last time was that there seems to be a really big difference between the expected return on the stock market and the expected return on short-term debt.
上节课提到的另一条内容是,股票市场的预期收益,与短期债券的预期收益,存在着巨大差异
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