回答这个问题先要试着解决现代金融一个最根本的争论。
Answering this question requires grappling with one of the most fundamental debates in modern finance.
但是，即使是巴菲特也无法完全从现代金融方法中跳出来。
But even Buffett couldn't entirely insulate himself from modern financial methods.
指出了《人行法》的全部内容体现了现代金融意识。
The essay points out that the whole content of the Bank Law demonstrates the modern financial concept.
该专业引进许多理论和现代金融中重要的分析工具。
The specialisation introduces many of the theoretical and analytical tools that are important in modern finance.
尽管罪孽深重，现代金融还是值得挽救的，只是看起来有些任重道远。
For all its mistakes, modern finance is worth saving-and the job looks as if it is still only half done.
这一直是现代金融的核心神秘性之一。为什么它能那么赚钱？
This has always been one of the central mysteries of modern finance: Why is it so damn profitable?
摘要资本结构理论是现代金融理论和财务管理理论的重要基石之一。
Abstract: Capital structure theory is the modern financial theory and financial management theory is one of the important cornerstone.
直到去年，作为一个现代金融奇迹，信贷违约掉期(CDSs)还在接受欢呼。
Until last year credit-default swaps (CDSs) were hailed as a wonder of modern finance.
正因为大家发现，现代金融手段有缺陷，所以银行家和投资者才不得不蒙受损失。
Bankers and investors need to suffer precisely because the methods of modern finance have been found wanting.
银行家和投资者必须接受这一点，确切的原因是：现代金融秩序被发现存在缺陷。
Neither should it be. Bankers and investors need to suffer precisely because the methods of modern finance have been found wanting.
风险投资是现代金融的一种形式，与传统金融主要区别即在于资金的属性。
As a form of modern finance, it is the nature of capital that differentiates venture capital from traditional one.
本文首先从14个方面概括了现代金融相对于传统金融的新特征、新变化；
This paper summarized the new characteristics and new changes of modern finance relative to traditional finance from 14 respects.
现代金融理论对套利的研究就是对不能获得套利机会这一假定的含义的研究。
Modern finance theory's research on arbitrage is mainly focus on the supposition of no arbitrage opportunity.
由此引出了批评者的第三点：不但没有增强经济的抵抗力，现代金融加剧了它们的不稳定性。
That leads to the critics’ third point: that far from enhancing economies’ resilience, modern finance has added to their instability.
第三，考虑到现代金融的担责范围，其成本与收益的平衡点在哪里，如何才能对其进行改善？
Third, to the extent that modern finance does bear the blame, what is the balance between its costs and its benefits, and how can it be improved?
人们花了好些年才建起了现代金融的炫丽大厦，却要在一个周末之内防止这座大厦轰然倒塌。
THE marvellous edifice of modern finance took years to build. The world had a weekend to save it from collapsing.
金融风险管理是现代金融理论的核心和前沿问题，也是我国面临的重大现实问题。
Financial risk management is the core and frontier problem in modern financial theory; it is a critical and practical issue which our country is facing as well.
惯性与反转效应的发现，直接冲击了市场有效性理论，成为现代金融研究的焦点。
For momentum and contrarian directly disobey the Efficient Market Hypothesis, they have become the focus of financial study.
其形成背景是全球经济金融一体化发展趋势和现代金融在经济中核心作用的形成。
The developing tendency of global economy and finance, together with the nucleus role of modem finance in economy, makes the background for its emergence.
股息贴现模型是估计股票内在价值的基本方法，无套利均衡是现代金融理论的基础。
The dividend discount model is the essential method used to estimate the stock intrinsic value. No-arbitrage equilibrium theory is the foundation of present financial theory.
我国目前的金融生态圈存在系统性缺陷，金融种类不符合现代金融良性循环的要求。
Currently, China's financial ecosphere has systematic defaults and can not meet the need of modern financial development.
现代金融的核心功能是配置风险。金融不能消灭风险，它只能是转移风险，分散风险。
The function of banking system is to allocate the risks, but it cannot decrease or eliminate the risks.
有时候金融机构和客户就在博物馆直接进行交易，从而向人们展示现代金融产品的便利性与独特性。
Sometimes virtual transactions and interactions between financial institutes and customers made to show the convenience and uniqueness of modem financial products.
随着金融市场波动性的不断加剧，风险管理逐渐成为金融工程和现代金融理论的核心内容。
With the rising of volatility in the stock market, risk management has been the main research area of finance engineering and modern finance theory.
对于现代金融的支持者而言，更大的麻烦是关于风险水平及其归宿的不确定性对市场流动性的致命影响。
More troubling to proponents of modern finance was the crippling impact on market liquidity of uncertainty about the scale of risks and who held them.
罗斯曾指出：“大多数现代金融不是基于无套利直觉理论，就是基于无套利的实际理论。”
As Ross pointed out: "Most of finance is based on either the intuitive or the actual theory of the absence of arbitrage."
这一假说迅速得到学术界的广泛重视，并成为现代金融、财务与会计实务和理论研究的基石。
Academe gave great emphasis to EMH, and made EMH be the bedrock of the theory and practice of modern finance and accounting.
接着，危机到来了，危机证明所有所谓现代金融降低了风险，使金融体系更加稳定的说法完全是一派胡言。
Then came the crisis, which proved that all those claims about how modern finance had reduced risk and made the system more stable were utter nonsense.
接着，危机到来了，危机证明所有所谓现代金融降低了风险，使金融体系更加稳定的说法完全是一派胡言。
Then came the crisis, which proved that all those claims about how modern finance had reduced risk and made the system more stable were utter nonsense.
应用推荐