查询词典 hedge one's bets

In general, this paper includes several parts, shown as the following: The first part summarizes the background and outline of stock index future and introduce briefly its local status and CSI 300 stock index future contract. The second part has a retrospect of the main academic papers of both local or overseas, and also a discussion of relevant hedge strategies and models, to lay a solid theoretical foundation for the empirical analysis and test for the operation process of hedge in latter parts. The third part outlines the principle, key factors and real operation process of hedge. Moreover, it makes a empirical analysis on popular hedge models with HK Hang Seng index. In the end, it test the hedge effect of trading on IF0706, CSI 300 stock index future contract, with CCB select-growth securities fund as present underlying. The fourth and also the last part, explores how to define hedge ratio in china mainland market. It includes the stability test ofβfor local securities portfolio, adjustment of historicalβand best data length for estimation of historicalβ, etc. Also, the thesis makes some beneficial experiments on the definition of best data length for estimation of historicalβ, survey of fashion forβand variation for industryβs. Fortunately, it's got some meaningful results.

按照以上研究思路，本论文论述由以下几个部分构成：第一部分，简要概述股指期货产生的背景和基本情况，对国内股指期货进程和沪深300股指期货合约进行简单介绍；第二部分，回顾海内外股指期货避险研究的主要文献，讨论相关避险策略及避险模型，为后面套期保值策略如何有效运用的实证分析和检验提供理论基础和依据；第三部分，对套期保值的原理、关键因素及实际流程进行概述，并采用香港恒生指数对常用的几种避险模型进行实证分析，最后一揽子以建信优选成长股票型基金为现货标的，实际检验以沪深300股指期货模拟交易IF0706产品进行对冲时的套期保值效果；第四部分，探讨国内确定避险比率的过程，包括国内股票组合β值的稳定性检验、历史β值的修正及估计历史β值的最佳数据长度等，通过数据分析，本文在寻找估计β值的最佳数据长度和考察风格、行业β值的差异上做了较为有益的尝试，并得到了有助于现实操作的结果。

Meanwhile, the index futures hedge theory has also get a further development, which evolves from traditional hedge theory, the selectivity hedge theory and modern hedge theories. After analyzing the merits and shortcomings of the three theories, the paper mainly studies four minimum square hedge theory models, which are The traditional static OLS model, VECM model, one variable GARCH(1, 1) model and one variable GJR-GARCH(1, 1, 1) model. Established on September 8th in 2006, China Financial Futures Exchange initiated a new era of our country finance ramification-- index futures, opening a door for the China futures industry.

而股指期货的套期保值理论也随之得到长足发展，历经传统套期保值理论、选择性套期保值理论和现代套期保值理论，本文在分析三大理论优缺点的同时，着重研究现代套期保值理论即最小方差避险理论的四种模型：传统静态OLS模型、VECM模型、单变量GARCH(1，1)模型、单变量GJR—GARCH(1，1，1)模型。2006年9月8日，中国金融期货交易所的成立，掀开了我国金融衍生品种股指期货的新纪元，迎来了中国期货行业发展的机遇期。

One Wild Night It's a hot night, the natives are restless We're sweating by the light of the moon There's a voodoo mojo brewing at the go-go That could knock a witch off her broom We slither on in and shed our skin Make our way into the bump and the grind So I'm passing by, she gives me the eye So I stop to give her a light Chorus: One wild night One wild night (24 hours of midnight) One wild night (I stepped into the twilight zone And she left my heart with vertigo) One wild, one wild, one wild, one wild night Havin' as much fun as you can in your clothes Margarita had me feelin' alright It just might be that I found religion I've been on my knees for half of the night Then I'm rolling the bones with Jimmy 'no dice' Gonna take him for a couple weeks' pay Man, if you lose this roll I take your girlfriend home So I stopped But you're not gonna believe who comes walking out Chorus: One wild night One wild night (24 hours of midnight) One wild night (I stepped into the twilight zone And she left my heart with vertigo) One wild night (hey, c'est la vie) One wild night One wild night (life is for the living so You gotta live it up, come on let's go) One wild, one wild, one wild, one wild night Guitar solo Chorus: One wild night One wild night (24 hours of midnight) One wild night (I stepped into the twilight zone And she left my heart with vertigo) One wild night (hey, c'est la vie) One wild night One wild night (life if for the living so You gotta live it up, come on let's go) One wild, one wild, one wild, one.. One wild night One wild night (24 hours of midnight) One wild night (I stepped into the twilight zone) For one wild night One wild night (hey,c'est la vie) One wild night One wild night All we've got is one wild night One wild night (4x) One wild night blinded by the moonlight One wild night 24 hours of midnight One wild night stepped into the twilight zone for One wild, one wild, one wild, one wild night.

一狂放的夜它是热的夜，当地人是不安定的由那里月亮的光冒汗是巫毒教mojo酿造在可能敲巫婆她的笤帚的去去的我们我们滑行并且流洒我们的皮肤做我们的方式成爆沸和研磨，因此我通过，她给我眼睛，因此我停下来给她轻的合唱：一狂放的夜一狂放的夜(24个小时午夜)一狂放的夜(我跨步入暮色区域和她左我的心脏以眩晕)一狂放，一狂放，一狂放，一狂放的夜 Havin同样多乐趣，象您在您的衣裳玛格丽塔酒能有我feelin它也许行是我发现了我是在我的膝盖为夜的一半的宗教我然后滚动骨头与吉米'没有模子' 去采取他为几星期的薪水人，如果您丢失我采取您的女朋友家的这卷，因此我停止了，但您不相信谁来走出去 Chorus： One wild night One wild night (24 hours of midnight) One wild night (I stepped into the twilight zone And she left my heart with vertigo) One wild night (hey， c'est la vie) One wild night One wild night (life is for the living so You gotta live it up， come on let's go) One wild， one wild， one wild， one wild night Guitar solo Chorus：一狂放的夜一狂放的夜(24个小时午夜)一狂放的夜(我跨步入暮色区域和她左我的心脏以眩晕)一狂放的夜(嘿， c'est la竞争)一狂放的夜一狂放的夜(生活，如果为生活，因此您得到居住它，进展我们是)一狂放，一个狂放，一个狂放，一个一狂放的夜一狂放的夜(24个小时午夜)一狂放的夜为一狂放夜一个狂放的夜(嘿， c'est la竞争)一狂放的夜一狂放的夜我们有的全部是一狂放的夜一狂放的夜(4x)一狂放的夜由月光蒙蔽了一狂放的夜24个小时午夜狂放的夜跨步入暮色区域为一狂放的一，一狂放，一狂放，一狂放的夜。

Center is located at the vortex of the financial crisis in the hedge fund industry suffered heavy losses, at least 350 were out of funds (including hedge funds Peloton Partners in London's size 1.8 billion U.S. dollars of hedge fund ABS Fund, another total Department of the London-based hedge fund MKM Longboat Capital Advisors LLP has no choice but to shut down its 1.5 billion U.S. dollars of the multi-strategy fund).

中心是在对对冲基金行业的金融危机的旋涡中位于损失惨重，至少有350人进行资金（包括对冲基金在伦敦的尺寸1.8亿美元的对冲基金获取和惠益分享基金美元珀莱东伙伴另一位伦敦总部的对冲基金资本顾问威宝朗伯特事务所别无选择，只能关闭其15亿美元的多策略基金）。

The sand fixed hedge has been using at Taiwan's coastally, how is the best desing for different from angle between main hedge and wing hedge, it is still no results. In this study, there are two part of experiment that are field study and wind tunnel. The field study is analysis by BSNE sand sampler and multi-layer anemometer at Yuanli coastally, the wind tunnel experimental that study different length and angle of hedge.

中文摘要堆砂篱於台湾沿海虽已被广泛使用，然堆砂篱是否需要大面积全面铺设，才能获得最显著功效；主篱与翼篱之间夹角应如何规划，才能达到最佳化设计，至今尚无具体结果，为能深入探讨本研究分为现地及风洞试验，现地试验以苑里沿海为试区，架设BSNE垂直集砂器及多层风速计等进行观测；风洞试验则依翼篱长度与角度从事模型吹砂试验。

When it comes to the more complicated bets, it is a good idea to hedge your bets.

当涉及到更复杂的赌注，这是一个好主意，对冲你的赌注。

Bosson--One In A Million You're one in a million, Oh now You're one in a million, Oh Sometimes I can't hate you every day Sometimes you can fall for everyone you see Only one can really make me stay A sign from the sky Said to me You're one in a million You're once in a lifetime You made me discover one of the stars above us You're one in a million You're once in a lifetime You made me discover one of the stars above us I've been looking for that special one And I've been searching for someone to give my love And when I thought that all the hope was gone You smile, there you were and I was gone I always will remember how I felt that day A feeling indescribable to me, Yeah I always knew there was an answer for my prayer And you, you're the one for me You're one in a million You're once in a lifetime You made me discover one of the stars above us You're one in a million You're once in a lifetime You made me discover one of the stars above us You're one in a million You're once in a lifetime You made me discover one of the stars above us You're one in a million You're once in a lifetime You made me discover one of the stars above us I was cool and everything was possible You tried to catch me but it wasn't possible No one could hurt me it was my game Until I met you baby and went insane And when you didn't want me, I wanted you Because the finer thing bout it was I like to go I like it when its difficult I like it when it's hard You know it's worth it if ya find your heart You're one in a million You're once in a lifetime You made me discover one of the stars above us You're one in a million You're once in a lifetime You made me discover one of the stars above us You're one in a million You're once in a lifetime You made me discover one of the stars above us You're one in a million You're once in a lifetime You made me discover one of the stars above us You're one in a million, Oh You're one in a million

Bosson--一在A百万 You现在是一个在百万，哦 You是一个在百万，哦 Sometimes我不可能每天恨您 Sometimes您能为您看的每个人跌倒Only一可能真正地做我逗留从天空的A标志对我的Said You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 I寻找那特别一个我搜寻某人给我的爱的AndAnd，当我认为所有希望是去的 You微笑，那里您是，并且我去 I永远将记住我怎么感觉那天感到的A难以描述对我，呀 I总是知道有我的祷告的一个答复And您，您是那个我的 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 I是凉快的，并且一切是可能的 You设法捉住我，但是它不是可能的没人可能伤害我它是我的比赛 Until我遇见了您婴孩并且去疯狂 And，当您没有想要我，我想要您 Because越美好的事回合它是我喜欢去 I喜欢，当它困难我喜欢时，当它是坚硬时You知道它值得它，如果ya发现您的心脏 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 You是一个在百万 You一次在一生 You使我发现其中一个在我们之上的星 You是一个在百万，哦 You是一个在百万

Second, if investment banks are buying or launching hedge funds, the sector itself is expanding into loan-making and private equity, and mutual funds are adopting hedge-fund techniques, is there any sense in talking of a separate hedge-fund industry any more?

其次，如果投行正购买或者发行对冲基金，对冲基金本身又将业务拓展到贷款和私募股权投资领域，而共同基金也在采用对冲基金的策略，那再谈论一个独立的对冲基金业还有什么意义呢？

These hedge instruments are fixed income security with an embedded credit default swap and can provide the hedge to issuers by the forgiving reference obligation and the issuer has no risk of nondelivery on the hedge.

此信用衍生性商品可视为固定收益证券与信用违约交换以组合而成。此避险工具可使发行者规避标的债权之风险，而且发行者能够将信用风险完全转移至票券持有人。

Finally,the study on the core of hedge research-i.e,the optimum hedge strategy can provide theoretic support in improvement of hedge efficiency and its application in investment practice.

最后，套期保值策略的最优化问题，也是套期保值研究中最核心的内容，这一课题的研究可以对提高套期保值效果，为套期保值在投资实务中的应用提供理论上的支撑。

But this is impossible, as long as it is engaging in a market economy, there are risks in any operation.

但是，这是不可能的，只要是搞市场经济，是有风险的任何行动。

We're on the same wavelength.

我们是同道中人。