Now Microsoft is sort of a funny place, we've got these big businesses but in the software business big businesses need to be constantly recreated.

现今的微软是非常有意思的地方，我们运行着庞大的生意，但是在软件交易上,大宗交易更像是消遣。

斯坦福公开课 - 微软CEO-Steve.Ballmer谈科技的未来课程节选

It's not always correct to think of it that way-- we have to get into the theory of futures markets.

这种方法并不是永远正确的,我们需要更好的理解期货交易市场

耶鲁公开课 - 金融市场课程节选

Warren Buffett said it was not my idea. We are not controlling margins if you have option exchanges.

巴菲特说这不是我的主意，如果你有,期权交易的话我们不会控制保证金的。

斯坦福公开课 - 经济学课程节选

It's not for us to alienate them or to give them up, to give them away, to trade them away, to sell them.

就是我们不能远离，放弃，丢弃，交易，或出售自然权利。

耶鲁公开课 - 公正课程节选

And in fact we know if the price goes to 0, it's delisted from the exchange.

实际上我们知道如果价格是，它就会从交易中退出。

麻省理工公开课 - 计算机科学及编程导论课程节选

That was kind of a riskless trade because if they filed on time, we hadn't paid anything.

这是一种冒险的交易,因为如果他们按时发布，我们没有损失。

耶鲁公开课 - 金融市场课程节选

This is the number of bonds I have to buy and so let's analyze this.

这边是我要买入债券的数额,下面我们开始分析这笔交易

耶鲁公开课 - 金融市场课程节选

We were interested in finding bonds trading below par where we thought there was a chance that companies would not file their financial statements on time.

我们对发现以低于票面价值进行交易的债券很感兴趣,我们认为在没有按时发布它们财务报表的公司,时机有可能发现。

耶鲁公开课 - 金融市场课程节选

For companies that we thought had backdated stock options, that we could buy their bonds at what they would trade for without this potential event of default.

对于那些我们认为已经追溯股票期权的公司，我们会在没有潜在违约风险下进行交易的价格,购买他们的债券。

耶鲁公开课 - 金融市场课程节选

The options are a very useful technology for managing risks and I think that we'll see a rapid--Over the next few decades, we'll see rapid expansion in the scope of options contracts traded on the exchanges.

期权是管理风险的,一个非常有用的技术,我认为在往后的几十年,交易市场上,我们将会看到期权合同的迅速发展

耶鲁公开课 - 金融市场课程节选

In many cases that is not the right way to think about futures prices, but there are very important futures markets that--In the next lecture I want to talk about the various kinds of futures markets that matter.

在许多情况下,我们不应该去,分析期货价格,但我们的期货交易市场很重要...,下节课我会讲,各种不同的期货交易市场

耶鲁公开课 - 金融市场课程节选

Our foreign exposure is not limited to the marketable security exposure, which I cited as being 15% of the fund, but there's foreign exposure in real estate, there's foreign exposure in leverage buyouts, there's foreign exposure in venture capital.

我们的境外投资,并不限于可交易证券类,那只占总资产的15%,也有境外不动产投资,境外杠杆收购,以及境外风险投资

耶鲁公开课 - 金融市场课程节选