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Since the first open-end fund issue, there are 5th redemption, which also reveals more profound form of market phenomena causing open-end fund liquidity risk. In 2002, the open-end fund market was just established, in order to expand the size, many funds only attract institutional investors, and do not distinguish between investor by their liquidity preference. Under such single structure, institutional investors large size redemption will cause fund scale reduced significantly, which suffered huge losses. In 2003, as the Funds growth, more and more retail investors join in fund market and occupy a dominant position. Due to the lack of awareness of the fund market, they all use the concept of stock investment.

自开放式基金成立以来，中国历史上的5次赎回也更深刻的揭示了构成开放式基金流动性风险的市场现象。2002年为开放式基金成立初期，很多基金为了吸纳资本，扩大规模，只面向机构投资者融资，并且不区分投资者的流动性偏好，在这种单一的结构下，机构投资者的大额赎回就导致基金规模的锐减，从而遭受巨大损失。2003年，随着基金的发展，越来越多的散户介入其中并占据主导地位，由于缺乏对基金市场的认识，按照原有投资股票的理念投资基金，所以在低迷的股市稍有起色，基金稍有赢利时，就开始赎回，造成了多只基金净值的损失。2005年，保险行业可以直接入市，再加之逐渐回升的行情和基金公司高额的手续费，很多保险公司开始赎回持有的基金转而直接入市。

System, the expected gain / loss is an investor-friendly.

6系统的预期收益/损失是对投资者有利的。

On one hand we want to have very extensive contact with investor, but additional on one hand, what you run outside is more, the instability of share price is bigger and bigger.

一方面我们想跟投资人有很广泛的接触，但另外一方面，你在外面跑的越多，股价的不稳定性就越来越大。

It is last bits, cannot allow the public investor with the risk broad impute to that home of venture capital investment should assume, widen the exuviate of venture capital investment endowment channel.

最后一点就是，不能让风险投资家应该承担的风险转嫁给广大的公众投资者，拓宽风险投资的蜕资渠道。

As a result of related to personal interest, operator will face the pressure of large stockholder, spend more energy to become good investor concern, pay close attention to the market image of the company morely.

由于与切身利益相关，经营者将面临大股东的压力，花更多的精力做好投资者关系，并更多地关注公司的市场形象。

Oil prices fell below $107 a barrel in Asia Friday on investor concern that faltering ...

原油价格跌破107美元每桶周五在亚洲的投资者关注，摇摇欲坠。。。

We wish sincerely all size CEO that working hard hard people, had taken your earnest wish please, no matter you are which investor to stay up late,work overtime, stand fast please this one passion, because you have success of a day of meeting eventually, become finally can him dictate, free fantast.

我们真心祝愿所有正在辛苦努力的大小CEO们，请带好你们的梦想，无论你们正在为哪位投资人熬夜加班，都请坚守这一份激情，因为你们终有一日会成功，最后成为能够主宰自己的，自由的梦想家。

Rick Ferri, founder of Portfolio Solutions, remains a die-hard buy-and-hold investor, scoffing at many notions that some other advisers now subscribe to.

Rick Ferri是传统投资组合方案的创始人，他对现在很多其他理财顾问提出的新概念极为蔑视。

China is the fifth-largest investor in international efforts for seabed development, and has obtained an exclusive exploration and development area of 75,000 sq km.

中国是国际海底区域开发第五大投资国，并在国际海底区域获得了7.5万平方公里的专属勘探开发区。

Cancelling the order before it is executed means the flasher could potentially squeeze a better price from the investor.

在执行前撤消指令意味着，发送闪电指令的人有可能从投资者那里榨取更优的价格。

Singer Leona Lewis and former Led Zeppelin guitarist Jimmy Page emerged as the bus transformed into a grass-covered carnival float, and the pair combined for a rendition of "Whole Lotta Love".

歌手leona刘易斯和前率领的飞艇的吉他手吉米页出现巴士转化为基层所涵盖的嘉年华花车，和一双合并为一移交&整个lotta爱&。

This is Kate, and that's Erin.

这是凯特，那个是爱朗。