《蝙蝠侠》可能战无不胜，但股权投资者仍应提防着《小丑》。
Batman may win every hand, but equity investors should still fear the Joker.
股权投资者现在都十分谨慎。
一位股权投资者的收益高度依赖于投入时机。
The final return of an equity investor is highly dependent on when he starts to put money in.
但股权投资者担心官方刹车过猛，导致紧缩性减速，有碍企业利润。
But equity investors worry that officials will apply the brakes too hard, causing a crunching slowdown and hurting corporate profits.
表面上看，如此大比例的股权投资(37%)看起来像是华尔街的“新标准”。
On the face of it, such a large percentage (37%) of equity investment looks to be part of the 'new normal' for Wall Street, where excessive leveraging is no longer acceptable as before.
对于其他没有或者不会破产的银行，以及那些私人股权投资者而言，这意味着大量的收购机会。
That means lots of buying opportunities for other Banks and private-equity investors.
本文在归类整理投资期投资收益计算公式基础上，主要阐述成本法下长期股权投资的核算技巧。
This essay discusses the skills in long-term stock ownership investment accounting under the cost method as well as giving an account of the formulae for calculation of the investment income.
这些厂商何时能重拾定价权这一问题对寻求恢复利润水平的股权投资者以及担心通胀的债券持有人和政策制定者都至关重要。
The question of when companies win back pricing power is key both to equity investors, looking for a revival in profit margins, and to bondholders and policymakers worried about inflation.
这场危机已经触发了货币的迅速贬值，以及在外国证券和股权投资商大量抛售其所持证券的同时出现的股票市场价格的大幅度下跌。
The crisis has triggered quick depreciation of currencies and major declines in stock market prices with foreign investors in securities and equities selling off large shares of their holdings.
如果你进行长线投资，存在股权偏好是合理的，那么从长期看，股票是上涨的。
If you're investing with a long time horizon, having an equity bias makes sense, stocks go up in the long run.
股权是最佳长期投资的论调不再令人信服。
The argument that shares are the best investment for the long run no longer sounds quite so convincing.
在过去30年中，我们见证了金融服务业(比如资产管理，套保基金，并购基金，私募股权，风险投资)在GNP中的比率不断增长。
We have witnessed financial services (think asset management, hedge funds, buyout funds, private equity, and venture capital) grow as a percentage of GNP for the past thirty years.
你公司的价值也不与那些满怀异想天开之情的投资者(包括那些没有股权的人)联系在一起。
Nor is the value of your company tied to the whimsical sentiment of investors, including those that have no stake in it.
该法案的反对者表示，附股权益是一项有风险的长期投资，理应享受资本所得税的对待。
Opponents of the bill say that carried interest deserves capital-gains treatment because it is a long-term investment and carries risk.
一般在五年之后，私人股权公司会通过出售重组公司的形式，或者在重组公司找到其他投资者的情况下套现。
The private equity firm typically cashes out after five years, often through the sale of the company or when the business brings on another investor.
根据现有规定，“外来”投资者只能拥有德国俱乐部49%以下的股权，而51%，亦即具有控制性的投票权必须掌握在俱乐部成员手中。
Under existing rules, no "outside" investor can own more than 49% of a German club's shares and at least 51%, ie a controlling vote, must remain with club members.
然而随着收益率走低，投资者们还会继续追捧(长期)国债吗，还是会转而关注其他股权类资产呢？
But with lower yields, will investors continue to dabble in bonds, or will they switch their attention to other equity-like assets?
这对罗氏也许是有利的，其创始人家族通过双重股权结构的设计，从而牢牢地控制着公司，但却使其他投资者感到沮丧。
That may be fine with Roche’s patient founding family, which controls the firm thanks to its dual-share structure, but it could dismay other investors.
从某种意义上说，在信贷稀缺的时候，中国市场更有吸引力，因为中国的多数私募股权公司都是靠增长而不是靠杠杆来为投资者提供超额回报。
In one sense, China is a more attractive market when credit is scarce because most China private-equity deals rely on growth rather than leverage to provide investors with outsized returns.
对私募股权来说，经理人只有在资产变现，投资者拿到他们的钱时才能拿到报酬，这意味着不论以何种方式他们的报酬都是延迟的。
As for private equity, managers get their big bonuses only when assets are realised and investors get their cash, which means their pay is deferred anyway.
芝加哥大学布斯商学院教授史蒂夫·卡普兰认为，私募股权公司最终会模仿在过去几年纷纷上市的大型投资银行。
Steve Kaplan, a professor at the University of Chicago Booth School of Business, thinks private equity will end up mimicking the large investment Banks that went public over the past few decades.
管理层如果过于贪婪，只根据自己得到多少股权这一点来对投资者进行评判，事后往往会后悔莫及。
Management who are so greedy that they judge investors exclusively on how much equity they receive often regret their choice.
私人股权领域的繁荣时期给私人股权和创业投资家峰会带来了名声和许多传奇经历。
THE Super Return conference draws its name and much of its mythology from happier times in the world of private equity.
由于贝恩打算将所持有的国美可转债进行债转股，从而在国美扩大后的股本中握有近10%的股权，这令投资者陷入了两难。
With Bain planning to exercise the convertible bonds it owns in Gome, giving it a near-10% share of the company's enlarged share capital, the choice for other investors is stark.
五年前市场也曾出现过恐慌，不过当时，一些投资银行在面对私人股权客户的愤怒后选择了退却。
There was another flurry five years ago, but some retreated again after facing the wrath of their private-equity clients.
五年前市场也曾出现过恐慌，不过当时，一些投资银行在面对私人股权客户的愤怒后选择了退却。
There was another flurry five years ago, but some retreated again after facing the wrath of their private-equity clients.
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