投资者亦须留意此比率只适用于短期之内，因为有效杠杆比率倍数是随着时间变更的。

Investors should be aware that the effective gearing multiple does change and therefore is only applicable for short periods of time.

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举例而言，控制流动性，对于对冲基金而言很有意义，但是对于私募基金则意义不大；控制杠杆率则恰好相反，对于私募的管理很有效，而对于对冲基金则效果不彰。

Controls on liquidity make much more sense for hedge funds than they do for private equity, for instance; the reverse could be argued for leverage limits.

youdao

征收通行费在经济上是有效的，它针对过度使用的资源（拥堵的道路）引入了价格杠杆。

Tolling is economically efficient: it prices an overused resource (crowded roads).

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