同几年前的九牛一毛相比,现如今,基金经理将高达5%的现金都投入商品期货市场。
Fund managers, who allocated a pittance to commodities a few years ago, now put up to 5% of their cash into them.
理想的状况下,那些从“现金牛”业务中产生的资金应该重新配置到新兴业务,但是“现金牛”业务的经理却努力为自己的业务保留一些资金。
Ideally, money from these “cash cows” should be redeployed to the stars, but the cash cows’ managers may fight to keep some of it for their empires.
给经理们提供现金奖励只能鼓励他们与此制度博弈,更甚者会导致其作出不计后果的举动。
Providing managers with financial rewards can encourage them to game the system or, even worse, to engage in reckless behaviour.
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