I went to one of the hotel branches and asked the manager a few questions and finally got to trading.

我去了其中一家设在旅馆的分店，询问了经理一些问题，然后开始交易。

youdao

Trading doesn't cost the manager anything, and it's not reported as an expense to the fund, but the resulting brokerage costs erode your return by up to 1% a year.

交易不会花费经理人什么代价，也不会计入到基金的交易费中，其结果就是经纪人的佣金使你的年收益率降低1%以上。

youdao

We foresee that there will be a big market and people will buy these masks for Halloween or parties, "said John Lui, assistant sales manager at Perfectech International Trading Ltd."

Perfectech国际贸易有限公司销售经理助理约翰·卢伊说：“我们预计拉登的面具会拥有巨大的市场，人们会乐于购买这些面具参加万圣节晚会或者其它化装晚会的。”

youdao

As The Wizard of Lies details, in 1962 Madoff was in his early twenties, just starting out as an investment manager trading OTC stocks.

FORBES: From Greg Smith To Bernie Madoff To Us

By opposing disclosure of the risks to investors personal trading by portfolio managers poses, as well as disclosure of portfolio manager personal trading records and, when all else fails, invoking the attorney-client privilege to prevent investors from learning of illegal personal trading, the mutual fund industry has been able to maintain the illusion that such trading is rare and investors are not being harmed.

FORBES: Letter to Editor of BusinessWeek Re: Mutual Fund Personal Trading ( July 1, 1998)

If the asset manager is trading directly through DMA they should have the same surveillance tools as a broker.

FORBES: Monitoring Traders Trade: Sell-Side, Buy-Side or Asset Managers