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They bought after the funds had gone up and they sold after they had gone down.
基金上涨后他们买入,基金下跌他们就卖出
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but they were saying the funds, they were low on funds, so they were trying to close it much earlier,
但公园的资金却出现了短缺，所以他们试着要提早关门。
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The primary discount rate is typically a hundred basis points above the Funds Rate.
一级贴现率通常,在联邦资金利率一百个基本点之上。
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But when they apply for federal funds for social programs, we expect them to run their programs according to the Constitutional principle.
担当它们申请获得联邦基金施行其社会项目时，我们期望它们根据,宪法的原则推行那些项目。
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With this accusation of the misuse of borrowed funds, we recognize the strange and, I think in this context, rather ill-fitting subtext behind Comus' seduction.
通过误用钱币的指责，在这个文本中，我们发现了Comus其中的诡异，和其唆使背后的潜台词。
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So you just say,okay fine, this is the macro circumstance that we're dealing with and we're going to do absolutely the best job we can identifying individual,specific,bottom-up opportunities to deploy the funds.
于是你只能说,好吧,这就是我们要应对的宏观环境,我们绝对要全力以赴,发掘独特,明确,由下而上的机会,来配置基金进行投资
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If you look at the ten best-performing Internet funds from 1997 to 2002, the time-weighted return is 1.5% per year positive, so the funds went way up and then they went way down.
这十个表现最好的网络投资基金,从1997年到2002年,时间加权回报率是每年1.5%,基金一路涨涨跌跌
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Think about the advent of hedge funds -twenty or twenty-five years ago, hedge funds were a blip on the radar screen.
想想对冲基金刚出现时,差不多20或25年前,它就像雷达屏幕上的一个小点
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If the Fed wants to push the Federal Funds Rate up and down it goes and buys short-term government bonds.
如果联邦希望推动,联邦资金利率上升下降,它将会去买短期的政府债券。
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What I did was I took the ten best-performing Internet funds and looked at the returns from 1997 to 2002.
我选了十个表现最好的投资网络的基金,分析它们1997至2002年的收益情况
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In 2003 they decided to change that and they decided to raise the discount rate above the Federal Funds Rate.
在2003年，他们决定改变这个现状,并且决定将贴现率提升到,联邦资金利率之上。
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You have closed end funds, trade as a security listed on the stock exchange, but what they do is own other securities.
假如你持有封闭式基金，这种基金在证券交易所作为一种债券进行交易，但是实际上它们做的是持有其他债券。
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The Federal Funds Rate is a rate that is targeted by the Fed and it's their principle target.
联邦资金利率是,一个被联邦瞄准的比率,并且是他们主要的目标。
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They made the discount rate higher than the Federal Funds Rate; 2.25% so now the Federal Funds Rate is at 2.25%.
他们将贴现率提升至高于,联邦资金利率；,所以现在，联邦资金利率是。
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There were seventeen categories of equity mutual funds and they compared the dollar-weighted to the time-weighted returns.
其中一共是17种股权共同基金,将它们的货币加权回报率,和时间加权回报率进行比较
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You look at the returns that are reported for hedge funds in aggregate--they're generally 12%,13%,14% per year for the last five or ten years.
看一下过去5到10年间,公报中的对冲基金年平均收益率,普遍来说是12%,13%,14%
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