As shocking as this utter failure may be to the nearly 1 billion faithful Facebook users around the world, it's no surprise to anyone who read the initial public offering (IPO) prospectus.

对于全球近10亿忠实的 Facebook 用户来说，这个彻底失败可能令人震惊，但对于看过首次公开募股（IPO）招股说明书的人来说，这没有什么可惊讶的。

youdao

They disclosed it all in the prospectus, albeit in fine print.

这些投行在发售说明书里披露了完整的情况，尽管是用小字印刷的。

youdao

You could not sell a security without giving a prospectus to the potential buyers and the prospectus would be something approved by the SEC.

没有招股说明书就不可以，出售证券给潜在买家，而且招股书需要通过证交会审核。

youdao

But it's positive 1.5% per year, time-weighted--that's the number that you see in the prospectus or the number that you see in the advertisements so you say, what's the big deal, no harm no foul.

但算下来回报率每年还是正的1.5%,时间加权回报率,是你在招股说明书中,或是在广告中会看到的数字,你会说,没什么大不了,既没损失,也不违法

耶鲁公开课 - 金融市场课程节选

Compound that 13.4% over ten years and there's just an enormous gap between those mutual fund numbers that are in the prospectus and in the advertisement--the time-weighted returns and the dollar-weighted returns that talk about the actual experience of the investment community.

按13.4%复利算一下10年期的结果,你会发现在招股说明书和广告里给出的,用来反映投资机构实际业绩水平的,时间加权回报率,和货币加权回报率数字之间,有着巨大的差异

耶鲁公开课 - 金融市场课程节选

The Conservatives must choose between simply seeking to regain their reputation for competence or building a prospectus - on Europe, immigration and human rights - for what they would do if allowed to govern alone.

BBC: A postcard to the Westminster village

They looked at the monstrous 345-page prospectus describing the split-off that created Liberty and passed on the offer.

FORBES: The Inside Track

The regulators prevented retail investors from participating, despite the risks being disclosed in a thousand-page prospectus.

FORBES: Do Inefficient Stock Markets Drive Bad Corporate Governance?