北极的拉里、莫和科利在加拿大努勒维特·伊格·卢利克附近的浮冰上休息。
An Arctic Larry, Moe, and Curly lounge on an ice floe near Igloolik, Nunavut, Canada.
“以前,我们不太看好这支股,因为公司将太多的资金投入到开办新的连锁店,” 摩根斯丹利投资银行的零售分析家格雷葛利•莫利奇(Gregory Melich)这样说。
“We used to be quite negative on the stock, because the company threw too much money at new stores, ” says Gregory Melich, a retail analyst at Morgan Stanley, an investment bank.
伍德放映的第一张幻灯片是奥德丽·赫本,大约在1952年,‘罗马假日’公映的那一年,他解释到,阿申利一家到意大利度假,看到了迪莫达公司的一款20英寸的丝巾,阿申利一家决定仿制这种款式。
Wood’s first slide was of Audrey Hepburn, circa “Roman Holiday.” In 1952, he explained, the Ashleys had gone on vacation to Italy, where twenty-inch neck scarves were di moda.
So this book, Fabozzi, et al.-- Fabozzi, Modigliani, Jones and Ferri-- is a very solid book about financial markets.
所以这本由法博齐等人,包括法博齐,莫迪利亚尼,琼斯以及费里,这是一本关于金融市场的非常完备的书
Modigliani and Miller wrote a famous article arguing that-- what I just said--I just tried to say it in very intuitive terms.
莫迪利阿尼和米勒有一篇非常著名的文章是讲...,刚提过的,我想用直观的词汇来描述
So, that's the basic insight in Modigliani and Miller, that share repurchase and dividend are really interchangeable; it's just all a conceptual difference.
这即是莫迪利阿尼和米勒命题的内涵,股票回购和分红彼此是可替代的,只是概念上有所不同
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