I'm not talking about investment banks in this lecture -I'm talking about commercial banks, which accept deposits from depositors.
这节课不讲投资银行,只讲商业银行,商业银行从储户那里吸收存款
So, when you take a test, you don't accept information from others.
你们考试的时候,你不能从他人那获取信息。
From then on,if you accept the analysis and the assumptions or the estimates that underlie it, then we pretty much know how to construct portfolios.
如果你们理解了整个分析过程,假设前提以及各项资产的有关估算,就能知道该怎样建立一个投资组合
It makes sense, right, because they're the furthest away from the nucleus, they're the ones that are most willing to be involved in some chemistry or in some bonding, or those are the orbitals that are most likely to accept an electron from another atom, for example. So the valence electrons, those are the exciting ones.
它讲得通,对,因为它们距离,原子核最远,它们是最容易发生,化学反应和结合的地方,另一个原子的电子的轨道或者它们是,最容易接受,举个例子所以价电子,他们是活跃的电子。
The traditional commercial bank would accept deposits from businesses and make loans to businesses.
早期的商业银行吸收商业存款,并发放商业贷款
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