Today I want to talk about banking and this ties in somewhat to my previous lecture, which was on real estate, because Banks are major real estate lenders and investors in real estate securities.

今天我想谈一谈银行业，这与我的前一讲紧密相联，即有关房地产的内容，因为银行是房地产行最主要的资金贷方，和房地产证券投资方。

youdao

Financial managers find options lurking in real assets-that is, real options-and in the securities the firms may issue.

财务经理可以找到以实物资产为基础的期权——实物期权，和以公司发行的证券为基础的期权。

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Oil seems to be putting in a bottom on strong volume, no one is left to buy any more negative real-yield securities the Treasury is issuing, and gold has started looking very bullish.

石油似乎是在巨大的交易量下建立了一价位的底部，没有人会再购买财政部发行的任何负实际收益的证券了，黄金已经开始进入强烈看多的行情了。

youdao

Today I want to talk about banking and this ties in somewhat to my previous lecture, which was on real estate, because banks are major real estate lenders and investors in real estate securities.

今天我想谈一谈银行业,这与我的前一讲紧密相联,即有关房地产的内容,因为银行是房地产行最主要的资金贷方,和房地产证券投资方

耶鲁公开课 - 金融市场课程节选

So 90% of your portfolio is in domestic marketable securities and only 10% is invested in things like real estate or venture capital or private equity -hardly enough to make a difference in terms of the portfolios returns.

于是90%的投资都在本国有价证券中,仅10%用于比如不动产,风险资本或私募股权投资,这一小块几乎对投资回报,没有什么作用

耶鲁公开课 - 金融市场课程节选

Conservatives like to complain that the trust fund is nothing but a set of IOUs, but the problem is that the trust fund is full of real securities that are subject to the debt limit.

FORBES: A Modest Proposal to Avoid Debt Limit Disaster

Friedman reported his results had missed analyst expectations by 10 cents, a shocking gap in the usually staid and predictable world of real estate securities.

FORBES: The Worst REIT

Keith Pomroy , editor of SNL Real Estate Securities Monthy, says that even if corporate dividends enjoy tax-free status at the individual level, REITs, which are required to pay out at least 90% of their income, will continue to enjoy advantages over other investments, from an income perspective.

FORBES: Magazine Article