They might say for that sort of music: "All right. We're now going to have a thirty-two-bar solo.
他们会事先交流好要演出一段怎样的乐章,好吧,我们要出一段三十二小节的独奏曲
But the very, sort of, nature of being an institution constrains almost everybody whether it's, in our case, all our investors have thirty-day liquidity.
但是,投资机构的本质在一定程度上束缚了,它所处市场里的每一个人,在我们的案例中,我们所有的投资者都拥有强大的现金流。
Now, out of all of this, again to repeat, we are not making the argument that the Thirty Years' War itself led to absolute rule, that the growth of state structures can be seen in the beginning and the late medieval period with the consolidation of these territorial monarchies.
综上所述,我再重复一遍,我们并不能推断说,三十年战争本身导致了绝对主义的发展,国家的构建在中世纪的早期,以及晚期的领土兼并中就已经初见端倪
that, except for the principles, maybe their families maybe not, all our money can disappear in thirty days, so we have to be cognizant of that.
这意味着除了那些最重要的人,或者是他们的家人,或者不是,我们所有的钱可以在30天之内消失,所以我们必须认识到这一点。
Maybe on average institutions lose thirty basis points, but it's kind of Lake Wobegon, where we all believe that we're better than average, so we're going to overcome that thirty basis points -that's not such a big hurdle.
可能平均每个机构都会落后30个基点,这就有点像沃比冈湖效应,大家都觉得自己能高过市场平均水平,30个基点会赶上的,不算什么大的差距
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