But as hedge-fund managers have learnt of late, you "reach for yield" at your peril. The risk is an occasional hit big enough to wipe out years of profits.
但是，随着对冲基金经理知道你在“火中取栗”后，危险是一个偶然的足够大的打击将抹去很多年的收益。
Banks are asked to raise a sum of money; the lead managers take the market's temperature and advise about the yield and maturity investors want.
银行被要求募集一定数额的资金，高层管理人员追踪市场信号，向银行建议那些投资人需要的收益和到期日。
Hedge managers again have plenty of buyers looking for yield and willing to stomach more risk to get it.
对冲基金再度遇热，大量投资者追逐收益率并愿意为此承担更高的风险。
But when the yield falls short, funds pay investors from their principal. Asset managers suspect that plenty of investors do not fully understand this, and will be furious when they find out.
但当投资收益下降时，基金公司就会从本金中支付给投资者，基金经理怀疑许多投资者没有充分理解，当他们发现这个事实时有可能大发雷霆。
When the government exit tactics are constrained, " managers quit intimidation" will yield the institutional efficiency to hold back the expense preference of the state-owned banks.
在国家退出策略受到制约时，“经理人退出威胁”对于遏制国有银行费用偏好具有制度约束功能。
When the government exit tactics are constrained, " managers quit intimidation" will yield the institutional efficiency to hold back the expense preference of the state-owned banks.
在国家退出策略受到制约时，“经理人退出威胁”对于遏制国有银行费用偏好具有制度约束功能。
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