公共卫生服务是一种成本低、效果好的服务，同时也是一种社会效益回报周期相对较长的服务。
Public health service is not only a low -cost and effective service, but also a service with a relatively long-time social benefit return.
它可以比较粗略地描述成是发生在固定周期（这个周期通常是一年一次）的包含某一个物种很多成员的集体旅行，并且只有在长途旅行后才有回报。
It can loosely be described as travel that takes place at regular intervals—often in an annual cycle—that may involve many members of a species, and is rewarded only after a long journey.
在信用周期的积极阶段，超额回报首先产生于对信用升级的正确预测，以及在消极阶段首先产生于对信用降级的正确预测。
In positive phases of the credit cycle, alpha is generated primarily from the correct forecasting of upgrades, and in negative phases primarily from correctly forecasting downgrades.
我们的战略在设计上是在一个完整的信用市场周期内执行并从国家选择以及在允许的情况下从货币选择中获取超额回报。
Our strategy is designed to outperform over the full credit market cycle and to derive alpha from country selection and, where permitted, currency selection.
我们的战略在设计上是在一个完整的信用市场周期内执行并从国家选择以及在允许的情况下从货币选择中获取超额回报。
Our strategy is designed to outperform over the full credit market cycle and to derive alpha from country selection and, where permitted, currency selection.
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