In other words, if a fund liquidated all profits, the supposed 20% taken out first would actually be larger than 20% of the total realized profit.

换句话说，如果一个基金要偿付所有利润，首先要拿出的20%可能比实现利润总额的20%要多。

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As the profits from cattle dropped, though, the ranchers realized they could make more money through jaguar-themed tourism.

但当养牛的利润降低，牧场主人才明白，他们可以通过以美洲豹为主题的观光赚更多的钱。

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As predicted in last year's report, the exceptional underwriting profits that our insurance businesses realized in 2007 were not repeated in 2008.

正如在去年的报告中的预测，2007年保险业务取得的异常丰厚的利润不会在2008年重复。

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The catch is that when the home is eventually sold, the investor is entitled to 25% of any profits realized by the homeowner.

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Then, consider profits, realized and unrealized, in equity kickers.

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For this reason our subscribers have realized profits on 80% of the position.

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