那些销售货币市场基金的银行和保险公司曾向其投资者们许下承诺，称他们可以像银行存款那样至少取回自己的钱。
The banks and insurers who sold money-market funds had promised their investors that, as with bank deposits, they would at least get their money back.
共同基金投资者们一直等着市场的反弹的到来。
Mutual fund investors waited and waited for a rebound to come.
在某些领域(比如说新兴市场)，投资者买卖交易所交易基金就要比做相关的非流动资产简单，但是流动性风险并没有消失。
In some sectors, like emerging markets, it is easier for investors to buy and sell an ETF than to trade in the underlying illiquid assets. But the liquidity risk has not gone away.
然而，新的交易型开放式指数基金的特殊目的在于将铜从一个已经供不应求的市场里退出，使投资者和工业用户直接参与供应竞争。
Yet the express purpose of the new ETFs is to take copper off a market that is already tight, bringing investors and industrial consumers into direct competition for supplies.
“如果你能让投资者相信你可以持续产生10%的收益，那么会有一个巨大的市场”，一位对冲基金经理如是说。
"If you can convince investors that you can consistently generate 10% returns, that is a huge market", says one hedge-fund manager.
但投资者如果在国库债券流动性不足的时候要求收回他们的钱银，那么货币市场基金可能会被迫暂停货币回笼或“跌破票面价值”。
But if investors demanded their money back at a time when Treasury bills were illiquid, money-market funds might be forced to suspend resumptions or "break the buck".
但是许多深陷2008年危机泥沼的公司不都是银行，还包括了投资银行(如贝尔斯登和雷曼)，保险公司(如美国国际公司)和货币市场基金。
But many of the companies at the centre of the 2008 crisis were not Banks; the cast included investment Banks (Bear Stearns and Lehman), an insurer (AIG) and money-market funds.
零售投资者对于仅仅由储蓄账户带来的回报感到失望，因而涌入公司债基金市场。
Retail investors, disappointed with measly returns on savings accounts, are piling into corporate-bond funds.
GlobalTrendsInvestments的莱登建议，投资者考虑关注中国市场的交易所买卖基金。
Lydon of Global Trends Investments suggests that investors consider China-focused exchange-traded funds.
错误把握市场波动会使他们损失惨重(或者，如果投资者是专业基金经理，那么他们的客户会损失惨重)。
Get market timing wrong and they may lose a fortune (or, if they are a professional fund manager, their clients will).
投资者应当被告知交易所交易基金的市场可能不会像他们所希望的那样永远是流动的。
Investors ought to be told that the market for ETFs may not always be as liquid as they would like.
许多在中国和其他新兴市场的基金经理仅仅经历过好时期；一些投资者担心，如果经济下滑，他们的表现就会变的糟糕。
Many managers in China and other emerging markets are familiar only with good times, so some investors worry that they might not perform well if the economy stumbled.
美林的销售人员把商业票据卖给货币市场基金，并给予整个世界的商业部门和投资者们充分的信任。
The Merrill Lynch sales people go off and sell the commercial paper to money market funds and trust departments and investors all across the world.
这就唤起了1990年代早期的危险记忆，其时，投资者把钱倾入任何贴有“新兴市场”标签的基金。
This brings back alarming memories of the early 1990s, when investors poured money into any fund with an "emerging market" tag.
他说他被今年市场如何反弹难住了，反弹本质上是由于缺乏改善投资者的情绪和大笔资金注入国内股票基金。
He says he is baffled at how the market's rally this year has essentially been devoid of improved investor sentiment and big inflows into domestic equity funds.
问题在于，对于那些专攻金砖市场的基金，中国投资者会买账吗？
The question is whether Chinese investors will buy into those focused specifically on the Brics.
对于有些投资者，特别是依赖于市场波动的对冲基金来说，这种由于降级而引发的市场巨震可能是好消息而不是坏消息。
The sheer volatility in the market as a result of the downgrade could end up helping, not hurting some investors, especially hedge funds, which thrive on market volatility.
但是这也揭示了投资者对于那些积极管理型的新兴市场基金的偏好。
But it also reveals an investor preference for those actively managed emerging market funds.
市场人士说，抛售压力来自长线投资者，比如退休基金、银行和保险公司。
Market participants said the selling pressure came from long-term investors, such as pension funds, banks and insurers.
有些投资者还担心损失太多导致基金经理丧失勇气，就算市场回暖，他们也会错失翻本的机会。
Some worry that, having made big losses, some managers may have lost a bit of nerve-and will forfeit gains if markets rebound.
因为总体上来说投资者无法超越市场的表现，这就意味着资金从投资者手里转移到了基金经理的手里。
Because investors cannot beat the market in aggregate, all this means is that money is transferred from investors to fund managers.
根据这项报告，超过四分之一的亚洲富人计划于未来的六个月投资大中华和东南亚的基金和股票市场。
More than a quarter of affluent Asians plan to invest in greater China and Southeast Asian funds and equities in the next six months, according to the report.
如果投资者逃避货币市场而转向国债的话，银行便会失去资金，而且这也会危及到对冲基金和各大公司。
If investors flee the money markets for Treasuries, Banks will lose funding and the contagion will suck in hedge funds and companies.
如果投资者逃避货币市场而转向国债的话，银行便会失去资金，而且这也会危及到对冲基金和各大公司。
If investors flee the money markets for Treasuries, Banks will lose funding and the contagion will suck in hedge funds and companies.
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