I think market timing,as I've defined it, has to do with short-term deviations from your long-term policy targets.

正如我之前定义的,市场时机选择,是偏离长期策略目标的,短期操作

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And, so from there, in the short term after that, after the summer,

然后，夏天的短期实习之后，

事业和人生都重要 - SpeakingMax英语口语达人

The second, market timing, deals with short-term deviations from the long-term asset allocations that you establish.

第二,市场时机选择涉及,偏离长期资产配置的短期操作

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From a personal perspective... in the short term, I'm actually more career-oriented,

从个人角度来看……短期内，我更看重事业的发展，

事业和人生都重要 - SpeakingMax英语口语达人

But, when you move from lending money to the government -either short-term with bills or longer term with bonds -to investing in the equity market, there's a stunning difference in terms of the returns.

当你转变投资方式,从借钱给政府,即通过短期债券或长期债券的形式,变成投资于股票市场,回报率的差别会大到让你吃惊

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