we are developing a code for key risks or things that might happen and disagreements, and
我们就在制定一套管理主要风险的准则,预防类似事情以及矛盾的发生,
The Fed again did like what it's doing now; it rescued this company called Long Term Capital Management.
政府现在在做的和那次的很相似;,政府挽救了一种企业叫做长期资本管理公司。
Looking at the continuation of the verse, of the passage, We have some idea because humans, we see, are going to be charged with specific duties towards, and rights over, the created world.
让我们来看这一节还讲了什么,这一章还有什么,我们便会有一些想法,因为我们知道人类将会,被赋予一些职责和权利来管理被创造的世界。
His study of the regime that is to say the underlying constitutional principles that govern each order is what distinguishes Aristotle from the other social scientists.
他对政体的研究,也就是说,潜在且管理,每一种规范的宪法原则,即是让亚里士多德不同于,其它社会科学家的地方。
He's going to ameliorate their conditions, he's going to make their slavery on his plantations so effective, so good, such a even joyous form of labor, that he will be doing God's work by improving slavery.
他会改善奴隶们的生活条件,他会让自己种植园的奴隶们,提高工作效率,优化管理模式,奴隶甚至是一种令人享受的工作,他会按照上帝的旨意提升奴隶的生活水平
which you can kind of join and be a part of and they are all student-run.
你可以加入其中并成为一份子,他们也都是学生管理的。
I think it makes managing a growing company and a fast-paced movement very, very easy because there is basically one thing that you have to do.
我认为它让一个不断壮大的公司的管理,和快速发展变得,非常简单,因为你必须做一件事。
And the truth of whether a book should or should not be censored is something that's come about through the diligent effort of a group, rather than a single arbitrary judge like the state licenser.
但一本书是否真正被控制,是一堆人努力的结果,而不是政府出版管理处的人员专横的决定。
And the whole publishing industry was very careful to keep those or some, were very careful to keep those separate and how they will be managed. That was called separation of churching state. But when we began publishing on the internet, we discovered a new kind of content which are called community content.
整个出版产业十分小心,地保持着它们或者其中一些,非常仔细地保持,它们是分开以及如何管理它们,那被,称为政教分离,但是当我们,开始在互联网上出版,我们发现一种,新内容,交错社区内容。
But yeah, time management is a big deal.
但是,是的,管理时间是一件大事。
Anyway, I want then to move on to the topic of today's lecture, Insurance is the other side of the risk management institutions that we have.
下面开始今天这节课的主题,保险是我们现有的另一种,风险管理制度
The socialist idea started to lead to a number of experiments in various countries around the world that were pooling risks-- they might not have put it this way.
这种社会主义设想,引发了全世界很多国家,在风险管理上的改制与试行-,他们可能没用“社会主义“这一叫法。
I was just yesterday-- I gave a talk in Montreal at the Caisse de Dep?t,et Placement du Quebec, which is the big wealth management fund for the Province of Quebec.
昨天,我刚在蒙特利的魁北克储蓄投资集团,做了一个讲演,这个投资集团是魁北克省的,一所大型财产管理基金机构。
I stressed in the third lecture that like any--insurance, like any other risk management device, is an invention.
在第三次课上我已经强调过了,保险和其它风险管理工具一样,是一种发明
What Harsanyi and Rawls both gave us was a system of justice that, in my mind, conveys a sense of financial risk management.
在我看来,海萨尼和罗尔斯向我们阐述的,是一种公正机制,融合了金融风险管理意识。
I want to talk about Social Security as a risk management technique that developed in the nineteenth century and it developed in Germany.
我想谈谈社会保障,作为19世纪出现的,一种风险管理技巧,它最早出现在德国。
The other thing that I want to talk about-- and I guess I'm running out of time-- was about management of disaster risks.
还有一件事,我要说说...,我想我可能快没时间了,我要说的是灾难风险管理
It's a huge amount of money that they're managing, but I was trying to convince them that they should do something to manage their oil risks because they're way over-invested in oil.
他们管理着一大笔钱,不过我试图说服他们,采取一些措施来应对他们手里石油的风险,因为他们过于侧重在石油上的投资。
You might say it was risk management.
你也许会说是这是一种风险管理。
I really think by being an activist and putting pressure on that board that has done nothing really--I think eventually that will happen, hopefully Maybe we'll have one or two more questions Two more questions and then we'll wrap up.
我觉得通过做一个改革者该做的,以及对现在无能的管理层施加压力,真的--如果顺利的话那终将发生,差不多再可以提一两个问题,再提两个问题然后我们就结束。
This number, CUSIP number, is a number that identifies any security.
USIP代码是所有美国股票及注册债券的编号由美国统一证券辨认委员会管理,用于区别每一项证券
He went there and he made a plea that General Motors should cut its dividend that it pays to stockholders, which is a reasonable thing to do.
他向管理层提出请求,希望通用汽车公司减少,支付给股东们的红利,这是一种很合理的做法
Today, they're a very important part of the fund's management framework.
如今,对冲基金是,基金管理体系的重要一环
The problem that's been revealed in finance literature is that there's an uncanny tendency for the stock price to go up after the company awards large quantities of options to its executives.
但一些金融文献中提到这样一个问题,即出现了一种诡异的趋势,一旦公司奖励了大量的股票期权给,公司管理层,之后股价就会上升
Finally, I just want to say, next lecture is January twenty-eighth and we're going to talk about portfolio diversification, which is one very important application of the fundamental principle of risk management, as applied to securities.
最后,我想说下一讲是在1月28日,到时我们会谈谈资产组合多样化,这是风险管理基本原则中,对证券投资来说,这是非常重要的一项应用。
It doesn't work so easily to share with those people along the lines that these communities--I think these communes tend to emphasize a social compact, a feeling for each other, a caring for each other, which is a lovely thought but it doesn't achieve risk management on a big scale.
但要实现跟满足这些条件的人分摊风险,绝非易事,这些共同体。。。我指这些公社,倾向于强调一种社会凝聚力,一种人与人的深情和关怀,这个想法听上去很美,但无法实现大规模有成效的风险管理。
This is incredibly important because,when you look at this number that we started out with,saying the benchmark was 9.9 but net of fees the managers on average only lost thirty basis points--or .3% -you'd say,well that's a game I don't mind playing.
这极其重要,因为当你看这些数字时,刚才说过基准收益是9.9%,但是主动管理型基金经理人的平均净利润,只落后了30个基点或者说0.3%,你可能会说这个游戏,我不介意玩一玩
As I say, when the NAIC decides on some regulation, it's only a recommendation to the separate state regulatory commissions.
如前述,当NAIC就某项监管做出决议,对于各个州管理委员会而言,这只是一种建议
Well in a sense, the other thing that happened was, in 1934, Congress set up the Federal Housing Administration--FHA.
另一件事发生在1934年,国会建立了联邦住宅管理局,即FHA
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