And one thing that seems intrinsically bad, one thing that seems to reduce the value of a life, is pain.

有一样东西看似本身就是坏的，它似乎在减少生命的价值，是痛苦。

耶鲁公开课 - 死亡课程节选

Well, you could say it dilutes it but it doesn't lower the price of your investment, in general.

你也可以说这是一种摊薄,但总体上,你的投资价值并没有因此减少

耶鲁公开课 - 金融市场课程节选

It's changing the number of shares outstanding, so the value of the company declines by the same amount; it has to, as if they had just paid a dividend.

它改变了发行股数,所以公司价值减少了相同的数量,必须如此,就好像支出了股利一样

耶鲁公开课 - 金融市场课程节选

When you pay out stock dividends you would think that now there are more shares, everyone divides by the larger number of shares, and the value of the company goes down; it's not going to work to pay a stock dividend.

当你发放股票股利时,就会意识到,股票总数增加了,每个人的股数除以增加后的总股数,每人拥有的公司价值减少,发行股票股利无法达成目的

耶鲁公开课 - 金融市场课程节选