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。

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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。

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This is probably because investors have demanded a premium for owning an illiquid asset.

这可能是因为投资者都要求持有非流动性资产所要求的溢价。

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But as the industry expanded into illiquid asset categories, that strategy was no longer practical.

ECONOMIST: Exchange-traded funds

Pouring 50% of your liquid net worth into an illiquid asset class like art is crazy.

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And on and on it goes, into ever-narrower and illiquid asset classes.

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