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.
你处于更新周期的哪个阶段:是积极维持现状,还是选择性忘记过去,又或是大胆创造未来?
Where are you in the cycle of renewal: Are you actively preserving the present, or selectively forgetting the past, or boldly creating the future?
在全球发展协会,你可以做到这三点。无论你处于人生的哪个阶段,无论你走到哪里,无论你在 GDA 做什么项目,你都能为贫困偏远的社区创造积极的变化。
You can do all the three with Global Development Association. Whatever stage of life you're at, wherever you go and whatever project you do in GDA, you'll create positive changes in a poor and remote community.
Positive psychology, the field of health psychology is in infancy.
积极心理学,健康心理学的研究还处于初级阶段。
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