Even today, after the bursting of the stock-market bubble, American venture-capital firms—which are in the business of betting on the future—dwarf the firms from all other nations.

即使是在股市泡沫破裂之后的今天，美国的风险投资公司——它们从事的是押注未来的业务——也让所有其他国家的公司相形见绌。

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But that fall was due almost entirely to the stock-market crash, and with it a 50 percent reduction in realized capital gains.

但是这些下降几乎完全是由于股市的崩溃，从而使与其相关的实际资本收益下降了50%。

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But the need for capital led them either to abandon their partnership structure and raise money on the stock market or to join up with commercial Banks.

但是，资本的需求使得他们不是摒弃他们的合伙人结构，并在股市筹集资金，就是与商业银行合并。

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Dividend income or capital gains income in the stock market is taxed differently.

股息收入或者资本利得收入,适用的税率是完全不同的

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But tapping the Manila stock market for capital may not be easy.

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In the wake of 1974's stock market wipeout, capital for American entrepreneurs dried up.

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Thus would the stock market and venture capital also break loose in a glorious stampede.

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