流动资金投资，指在完整工业投资项目中发生的用于生产经营期周转使用的营运资金投资，又称为垫支流动资金。
为了降低风险，投资者们被迫将资产卖给一个缺乏流动资金的市场。
The need to reduce risk forces investors to sell assets into an illiquid market.
这却激励了用借来的钱进行更大的赌博投机行为，尽管每位经验的投资者知道当麻烦袭来时流动资金将是第一个消失的。
This has encouraged ever bigger bets with borrowed money, even though every seasoned investor knows that liquidity is the first thing to disappear when trouble strikes.
[underpricing 字典没有，我估计的意思]因为管理者没能有力执行严谨的规则，随着谨慎的大投资者被一群小股民所取代，这种情况促进了流动资金的预期。
With regulators failing to enforce disclosure rules, and with cautious big investors overtaken by the herd of small punters, volatility was to be expected.
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