Investors are happy to pay high fees for the skill, but regard the market return as a commodity.
投资人乐意为技巧付出高昂的费用，但认为市场回报是理所当然。
The return to the average investor is the market return minus costs; if costs rise, returns must fall.
普通投资者的回报等于市场回报率减去成本；如果成本上升，受益必会下降。
But the trouble with such areas may not be the absence of alpha but the level of "beta", or market return.
但这些领域的问题不是缺“阿尔法”，而是缺贝塔或者说市场回报。
We usually take variance as the index of capital market venture, and suppose that the variance of market return is a constant.
传统金融理论通常把收益率的方差作为风险的度量指标，并在选择证券组合时假设市场方差为常数。
In part, because investors have learned to distinguish between the market return, dubbed beta, and managers' outperformance, known as alpha.
部分原因是因为投资者们开始学会在市场收益率，复制beta, alpha即经理人的突出表现之间进行分辨。
I will get to this later, where I have the return minus the interest rate on this axis and the market return minus the interest rate on this axis.
迟一些我会讲到，就是用这个轴表示收益减去利率，这个轴表示市场收益率减去利率。
Then the movement feature of the market is analyzed with the GARCH model, and whether the market return follows non-linear and leptokurtic heavy tail feature is validated.
文章还采用GARCH模型对市场的运行特征做了分析，对市场收益率是否服从非线性和尖峰胖尾的特征进行验证。
Investors would not dream of paying a performance fee to traditional fund managers merely for matching the market return, yet they cheerfully reward private-equity managers for the same feat.
投资者绝不会在收益仅仅符合市场一般回报水平时向传统基金的经理人支付业绩提成，然而他们却欣欣然的在同样情况下，给予私募股权经理人以业绩提成。
At the same time, considering these two factors correlated with other factors that influence market return, there may be co-linearity in our regression equations if we ignore this phenomena.
同时，考虑到特质波动率和相关性这两个因素和一些影响市场收益率的因素相关，不加任何处理就引入定价模型，可能导致自变量之间的多重共线性。
The initial return earned by uninformed investors was affected not only by publicly known pre-IPO market return but also by the turnover rate of stock transactions in the first day of trading.
无信息投资者获得的初始收益不仅受到发行前就已知的市场收益的影响，而且受到二级市场换手率的影响。
Economists in the United States have hailed the change as a return to the free market.
美国的经济学家们称赞这种变化是自由市场的回归。
This integrated approach would allow the market shares of the other modes to return to their 1998 levels and thus make a shift of balance.
这种综合的方法将使其他模式的市场份额恢复到其1998年的水平，从而使平衡发生转变。
Today, that model has warped into self-parody: many of the Banks' assets are unsellable even as they have to return to the market each day to ask for lenders to vote on their survival.
如今这种模式已经扭曲成了滑稽的自我模仿：很多银行资产都没有销路，正如他们每天都必须回到市场上央求贷款者帮助他们存活下去。
Traditional marketmakers earned a spread in return for the requirement to provide liquidity in all market conditions.
传统做市商收取一定的差价作为做各种市场环境下提供流动性的回报。
In the winter they return to the small market town of Kochkor, three hours away by car over unpaved and often impassable roads.
在冬季他们回到小小的集镇柯切克去，这段路程要乘汽车在没有路面的道路上走三个小时。
Still, the CRR estimates that to return funding levels to those of 2007 by 2010, the rate of return on market assets would have to be 52% each year.
退休研究中心估计，要在2010年前使基金恢复至2007年的水平，市场上资产的回报率每年须达到52%。
Two, what do you think are the best ways an individual ? investor can make the best return in the market these days?
第二个问题，在现在的形势下，你认为个人投资者,怎样才能从市场中获得最大的收益？
They are expected to give up work—sometimes on marriage, often after childbirth—and many do not return to the job market until their children are grown.
社会对她们的期待是放弃工作，有时一结婚就放弃工作，更经常的是生孩子以后，很多女性就直到孩子长大才返回职场。
But when the old owners want to cast aside some of these items, a market emerges, getting a better return for sellers than pawnshops.
当物主想把这些东西丢在一边时，市场就出现，而且获得了比当铺卖家更好的盈利。
Investors naturally want to be compensated for this, so market liquidity risk increases the required return.
投资者自然需要为此得到补偿，所以市场流动性风险增加了投资者的要求收益。
She is seeking investors who want to make money, but will accept a below-market rate of return.
她正在寻找希望赚钱，但可以接受低于市场平均回报率的投资者。
Potential sellers, discouraged by low prices and high bought-in rates, will hold on to their treasures and wait for confidence to return to the market.
一些潜在的卖家对市场价格走低和成交价低于底价比率居高不下两者并存的状况深受打击，他们更愿意观望，并等待市场好转。
Solid dividend yields. Dividends have accounted for 42% of the total return of the market since 1926.
自1926以来，股利占市场总收益的42%。
We had previously thought that the market would return to some semblance of order and that our clients would not join in the panic.
它抱怨：“我们曾经以为市场可能回到某种表面的秩序，这样我们的客户可能就不会加入到恐慌的行列中。
As we return to a more normal credit market, there will simply be less money to finance a boom, as house prices adjust to the availability of credit.
随着我们回归一个更为正常的信贷市场，支撑市场繁荣的资金自然会更少，因为房价会根据信贷资金的充裕程度进行调整。
A rise in bond yields is part of a return to more normal market conditions and is nothing to worry about.
债券收益率的增长部分是由于回归了更为正常的市场环境，无需担心。
A root cause of the slowdown is housing, and so we continue to take actions that will avoid preventable foreclosures and speed a return to a healthy housing market.
经济下滑的根源是房产市场，所以我们继续采取措施，尽量避免可预防的房产没收，加速房产市场恢复健康。
Therefore, they say, China will soon need to return to the market, drawing down stocks and reawakening concerns of an impending shortage.
因此，他们认为，中国很快就需要重返市场，从而拉低库存，再次引发人们对于市场短缺迫在眉睫的担忧。
Therefore, they say, China will soon need to return to the market, drawing down stocks and reawakening concerns of an impending shortage.
因此，他们认为，中国很快就需要重返市场，从而拉低库存，再次引发人们对于市场短缺迫在眉睫的担忧。
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