Say the fund holds large positions in illiquid assets. The fund cannot immediately sell these assets, except at a fatal loss, so it would sell its more liquid assets.

要是这个基金持有很大的非流动性资产，这个基金就没法立刻卖掉这些资产，除非在一个致命的亏损的时刻，那么它将出售更多流动性资产。

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Suppose we were to graph a household's consumer spending as a function of cash-on-hand, which equals current income plus liquid assets, holding constant expected future income.

假设未来预期收入保持不变，画一个以家庭消费与库存现金的函数图---库存现金等于目前的收入加上流动资产。

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They will hold a certain amount of capital, they'll hold some of their liquid assets on deposit with the central bank.

它们需要保持一定数量的资本，需要在中央银行里存储一定的流动资产。

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Putting a value on Wales' liquid assets could trigger a deluge of difficult questions.

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So investors are getting a very different return source, but at the same time, since we are building these funds from the largest US equities, they are getting a very liquid pool of assets, something that they can trade.

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Most important, Sterling Stamos gave Wilpon and Katz a way to diversify their liquid assets.

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