Based on the division of labor theory, this paper points out that the nature of the risk of stock market is whether contracts and institutes could realize the division of investor and the manager.

从分工理论角度看，股票市场风险表现为投资者与经理人能否通过股票契约及相关制度协调实现分工合作的风险。

youdao

Looking from each test of the resulting, the funds manager of our country lacks ability of market timing and choosing securities, and the risk factor is remarkable in the performance of the funds.

从各检验结果看，我国基金经理缺乏择时、择券能力，而市场风险因素在基金业绩中作用显著。

youdao

Therefore they involve in many problems related to some specific regulations. How to successfully get into the market as the partner or risk manager?

即风险企业如成功上市作为股东或风险资金管理人的证券公司，能否承销发行该风险企业股票的问题。

youdao

Any money manager who isn't at least market weighted in energy runs the risk of underperforming.

FORBES: Magazine Article

Plainly put, if you want an investment strategy to reduce returns, increase risk, cost and taxes, hire a manager to try to beat the market.

FORBES: Playing With Active Money Managment Is A Losing Game

If the best equity fund manager is overweight Brazil and the best fixed income manager is overweight Brazil, there is no country diversification in a market where risk taken on the wrong country can hurt a portfolio.

FORBES: How To Balance A Balanced Fund