When a stock is first listed in the market, it comes with some price.

当股票在市场中出现的时候，它就会有一个价格。

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Well what it means is that starting in the 1930s we began to think of central banks as managing the money stock to stabilize the economy.

好吧，它意味着从二十世纪三十年代开始,我们就认为中央银行是,为了稳定经济而,管理金融债券的。

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Now, they are hoping that the price doesn't fall because they're announcing it with news and,in a sense, issuing the stock dividend is just a way to make it dramatic.

他们希望股价不会下跌,因为他们是带着利好宣布的,换言之,发行股票股利只是想引人注目

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For example, when they started trading stock index futures, both these agencies thought it was in their turf because it involved both stock indexes and futures Anyway, Paulson is proposing merging these.

例如，当人们开始交易股票指数期货的时候，这两个机构都认为这个交易是在他们的管辖范围内的,因为这个交易既包括了股票指数也包括了期货,总之，鲍尔森是准备合并他俩。

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The whole essence of a stock dividend is that they're paying it to every shareholder in the same proportion, so every one hundred shares becomes one hundred and five shares; so you know that that has no meaning to me.

但股票股利的要义就在于,他们给每个股东相同的份额,所以每一百股都变成了一百零五股,这对我来说毫无意义

耶鲁公开课 - 金融市场课程节选

is two, 10% it means that if the market goes up 10% in value, the stock tends to go up 20% in value and so on.

当β值等于2时，If，β,表明若市场组合增值，股票价值就增长了20%，以此类推。

耶鲁公开课 - 金融市场课程节选

of a stock is how much it reacts to movements in the market portfolio.

一只股票风险指标β系数直接反应出，The，β,市场组合变动与投资收益的相关性。

耶鲁公开课 - 金融市场课程节选