"Churn and burn"—a term conventionally used to describe the actions of stock brokers who inflate their commissions via excessive trading—refers to the relationship with merchants.

流失和灼伤，这是一对词组通常用来描述通过实施交易来最大化自己佣金的证券经纪人的行为，也适用于商人之间的交易关系。

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Agriculture listed companies directly impact on the future of China's agricultural industries, so the study of stock excessive trading in this area should naturally caused widespread concern.

农业上市公司直接影响到我国农业行业的未来，其股票的过度交易问题的研究自然会引起广泛的关注。

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“You can create a trading strategy that overnight makes lots of money, and it can take months or years to find out whether it is real money or luck or excessive risk-taking, ” Philippon explained.

你可以制定交易策略，一夜之后赚取大量金钱，然后花费数月或者数年时间去发现它到底是真实的金钱还是运气还是过分的风险承担。

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Second, it discourages the excessive trading or churning of portfolios, an activity that incurs high transaction costs and diminishes the client's return.

ECONOMIST: Time to reassess how fund managers are rewarded

Brokers' research is often a means to promote excessive trading.

ECONOMIST: Money managers

With respect to the allegation of churning, because we found no evidence of excessive trading and because (except as noted above) the accounts were fee based and thus not generating commissions compensation to Respondent Abadiotakis, there was neither indication of nor basis for an allegation of churning.

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