An intermediary is a bank, so when they pull out of banks they were disintermediating and going from banks into REITs.
这里的中介就是指银行,所以人们将资金从银行转向REITs,就是去中介化
So I got to, I'm from San Francisco, so I got to keep skating here.
我就是从旧金山开始滑滑板的,我来自这里,所以我也会一直滑下去。
So, the higher the covariance is, generally, the higher--you can see from here-- 2 of the portfolio.
所以总的来说,你可以从这里看出,协方差越大-,投资组合的σ2越高,the,higher,the,σ
What we've written is a whole step, so we've got to indicate that this is just a half step away in that fashion, D to E-flat.
而这里写的是一个全音级,所以我们要在这里标出,从D到降E只有半音级
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