It might be that the manager is buying illiquid assets.
可能是来自于基金经理买入的非流动性资产。
Until recently gems have been considered an illiquid asset.
直到前不久，钻石一直被认为是流动性不足的资产。
But many Banks are now assumed to be not only illiquid but insolvent.
但是现在许多银行被认为不仅仅是流动性差，而且是无偿付能力。
Falling prices are accentuated in illiquid markets such as residential property.
诸如住宅地产市场这类流动性不佳的市场会加剧价格的下跌。
Many of these are illiquid and still booked at their original, inflated prices.
许多证券缺乏流动性，且账面值还是初始的高价。
The need to reduce risk forces investors to sell assets into an illiquid market.
为了降低风险，投资者们被迫将资产卖给一个缺乏流动资金的市场。
Incredibly, stress tests failed to include many of Lehman's most illiquid assets.
不可思议的是，压力测试竟没有覆盖到很多雷曼最不流动的资产。
A chocolate factory is an illiquid asset: disposing of it is time-consuming and costly.
一间巧克力工厂是一种非流动性资产：处置它非常耗费时间，且成本高昂。
Some asset classes (particularly illiquid ones) can be subject to a "rowing boat" effect.
有些资产类别(特别是非流动性种类)受制于“划船效应”的影响。
The facility may thus eventually do what TARP was meant to: relieve banks of their illiquid assets.
因此，该特定机构甚至会实现TARP的原本打算：解除银行在非流动性资产上的负担。
Chinese citizens' only real investment choices are property, which is illiquid, and the stock market.
中国居民仅有的现实投资选择，一是流动性很差的房地产，二是股市。
These illiquid assets are choking off the flow of credit that is so vitally important to our economy.
流动性不足的资产阻塞了对美国经济生死攸关的信贷流动。
Trading in all of these instruments is admittedly very illiquid, but the implication is hard to ignore.
出售这些公认的非流动性股票，但是其暗含的意思不能忽视。
Furthermore, structured finance's dependence on leverage and illiquid assets has left it prone to crisis.
更要命的是，结构化金融依赖于杠杆和非流动性资产，从而容易受到危机侵袭。
And for illiquid securities, it can get very expensive for an administrator to go out and verify those prices.
而对于流动性差的证券，行政管理人要获取并验证这些证券价格的成本可能非常高。
Financial supervisors want to believe that troubled Banks are temporarily illiquid, not permanently insolvent.
金融监管者则倾向于认为，陷入困境的银行只是暂时的流动性不足，而非长期的资不抵债。
The market might become illiquid if those that had in effect sold insurance tried to exit their positions.
一旦事实上出售了违约保险的对手方试图平仓甚至一走了之，市场可能会失去流动性。
This mismatch between liquid debt and illiquid assets makes Banks susceptible to sudden losses of funding.
流动负债和非流动资产之间并不匹配，因此一旦出现资金链的突然紧张，银行就变得弱不禁风。
If a fund is overestimating the value of the illiquid assets, then its manager's profit is grossly overestimated.
如果基金高估了非流动性资产的价值，基金经理的收益也严重高估了。
Institutional investors, wary of being stuck in an illiquid part of the market, are increasingly following them.
机构投资者总是小心翼翼，深怕陷入非流动性市场的泥潭中，跟着那些交易商亦步亦趋。
If the Fed went further and started to buy illiquid assets outright, as some are advocating, that would be different.
如果美联储更进一步，如同有些人所提倡的那样，彻底开始购买非流动性的资产，那情况将完全不同。
Over these past weeks, we have continued to examine the relative benefits of purchasing illiquid mortgage-related assets.
在过去的这几周里，我们一直在考察购买流动性差的抵押贷款资产的相关益处。
Asset allocations went wildly out of balance, overweighted to illiquid partnerships as the value of equities plunged.
资产配置完全失去了平衡，随着股市的暴跌倒向了流动性不足的资产。
However, in the wrong circumstances fair-value accounting could also induce wasteful sales—of long-term, illiquid loans.
但是，在错误的情况下公允价值可能引起不经济的卖出长期非流动贷款。
However, in the wrong circumstances fair-value accounting could also induce wasteful sales—of long-term, illiquid loans.
但是，在错误的情况下公允价值可能引起不经济的卖出长期非流动贷款。
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