在金融界中，这是一种重要的观测方法，许多投机性资产的收益，都是服从长尾分布的。

It's a very important observation in finance that returns on a lot of speculative assets have fat-tailed distributions.

youdao

热钱(Hot Money)，又称游资(Refugee Capital)，投机性短期资本，指为追求最高报酬以最低风险而在国际金融市场上迅速流动的短期投机性资金。

Hot Money, also known as Refugee capital, refers to those short-term speculative capital flowing rapidly in international financial market in pursuit of maximum reward at lowest cost.

youdao

当投机性筹资行为，特别是庞氏筹资行为大行其道时，金融体系是更加脆弱的。

When speculative and, especially, Ponzi financing come to the fore, financial systems are more vulnerable.

youdao

It's a very important observation in finance that returns on a lot of speculative assets have fat-tailed distributions.

在金融界中,这是一种重要的观测方法,许多投机性资产的收益,都是服从长尾分布的

耶鲁公开课 - 金融市场课程节选