Over-magnifying early period is the essential cause for stockpile, high storage of produce and high percentage of liquid fund.

过分夸大的提前期是造成库存和在制品储备高，流动资金占用大的根本原因。

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Say the fund holds large positions in illiquid assets. The fund cannot immediately sell these assets, except at a fatal loss, so it would sell its more liquid assets.

要是这个基金持有很大的非流动性资产，这个基金就没法立刻卖掉这些资产，除非在一个致命的亏损的时刻，那么它将出售更多流动性资产。

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Fund managers typically keep 20% of (unrealized) trading profits. But first they must realize that 20% by selling the liquid assets.

一般的基金经理可拿到(未实现的)交易利润的20%，但首先他们须卖出流动资产，才能实现那个20%。

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In a period of high unemployment, financial planners recommend having six to twelve months of necessary expenses in a liquid fund available.

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Morgan Stanley, for instance, sponsors a fund of funds, Liquid Markets Fund I, that puts investors' money into an assortment of hedge funds that each impose one-way incentive fees (plus annual management fees).

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Oppenheimer does disclose that it charges its funds 0.08% annually to reinvest their collateral in its OFI Liquid Assets Fund.

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