接下来，假设存在一种无风险资产。
世上没有事情是“无风险”。
当然，高科技策略也并非是全无风险的。
雷区之五：无风险的概念探索时间不足。
但这样的无风险套利机会是不存在的。
The potentialfor arbitrage means such profits cannot be earned.
当然，此时买入中国股票并未全无风险。
即便如此，追求新科技也不是毫无风险的。
Even then, the pursuit of new technologies is not without risk.
食用毫无风险的东西，还有什么乐趣可言呢？
Where is the enjoyment in eating something that has no risk in it?
它也不是毫无风险的。
那么，什么来取代美国国债成为全球性的无风险资产呢？
So what might replace Treasury bonds as the global risk-free asset?
而且，同任何外科手术一样，这种检查也是不无风险的。
但它不无风险。
一方面，是否存在可作为“无风险”基准的可行替代品尚不清楚。
For one thing, it's not clear that there is a viable alternative as the "risk-free" benchmark.
最后全球范围内对“无风险”资产的贪求将使得这些资产有风险了。
In the end, the world's insatiable demand for the "risk-free" reserve asset will make that asset anything but risk-free.
毕竟，国债利率是无风险利率，其他的资产的定价都扣除了这个因素。
After all, the Treasury-bond yield is the risk-free rate, off which other assets are priced.
无论如何，对外国投资者而言，这意味着美国国债并不是完全无风险。
However, for foreign investors, that means Treasury bonds are not risk-free at all.
以银行的财政状况为例，许多人利用国债作为无风险资产以实现资本用途。
Many use Treasury bonds as the risk-free asset for capital purposes. As capital Economics points out.
要怎么做呢？只要加入我们打破常规的社团就行，而且绝无风险。
How? Simply join our Rule Breakers community absolutely without any risk.
巴西投资者仅仅把资金投入毫无风险的债券就能获得丰厚回报，这种日子已一去不返。
Brazilian investors can no longer reap extraordinary returns just from parking their money in risk-free bonds.
家中的氡浓度越低，风险也就越小，但尚不了解氡接触低于何浓度才无风险。
The lower the radon concentration in a home, the lower the risk as there is no known threshold below which radon exposures carries no risk.
但是在那些奇特的金融产品中，长长期望后的回报可能是零，或者最终低于无风险利率。
But in more exotic asset classes, the long-term expected return may be zero, or at least less than the risk-free rate.
资产结构无可避免应加入杠杆操作，以便将报酬率相对于无风险报酬率放大两倍或四倍？
The inevitable levering of asset structures to double or quadruple returns relative to risk-free assets?
这些公司如何适应于一个银行不再被视作是无风险的世界，这是整套测试没有回答的问题。
How these firms adapt to a world in which Banks are no longer seen as risk-free is the tests' unanswered question.
这些公司如何适应于一个银行不再被视作是无风险的世界，这是整套测试没有回答的问题。
How these firms adapt to a world in which Banks are no longer seen as risk-free is the tests' unanswered question.
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