低估

125E The final phase in a bull move is an accelerated runaway near the topE In this phase, the market always makes you believe that you have underestimated the potential bull marketE The temptation to continue pyramiding your position is strong as profits have now swelled to the point that you believe your account can stand any setbackE It is imperative at this juncture to take profits on your pyramids and reduce the position back to base levelsE The base position is then liquidated when it becomes apparent that the move has endedE

一个牛市运动的最后阶段是一场接近顶部的加速赛跑。在这一阶段，市场总是让你相信你低估了潜在的牛市。随著盈利膨胀到让你相信你的账户可以对付任何挫折，继续堆砌你的头寸金字塔的诱惑强大。在这关键的时候，要紧的是从你的金字塔上拿走你的盈利，把你的头寸减少到基本水平。随后，当这一运动变得显然结束了时，将这基本头寸也平仓。

You, as a good Tory, must not underrate them.

你是个死心塌地的保皇党，别把这些德行低估了。

Well, he's tragically underestimated us.

只可惜他低估了我们。

Now, traders, investors, and even bank managers need real knowledge, and better ways of assessing risk, to identify undervalued assets that might just perform better than the 2 per cent return on a Treasury bill.

如今，交易员、投资者乃至银行经理都需要真正的知识和更好的风险评估方法，来辨识被低估的资产--这些资产的表现可能仅略高于美国国债2%的收益率。

In addition, the general trend of underpricing is in line with the trend of stock market.

对这些结果进行进一步分析，本文得出可转债的价值低估程度与债券的票面利率之间不存在明显的线性关系，与债券距离到期日的时间即剩余期限之间存在显著的正相关，而与债券的转换溢价存在显著的负相关关系。

The old formula ended up underrating work done on the forty trillionth bit, and overrating work done on the five trillionth bit.

旧的方程低估了对第40兆比特的运算，高估了对第5兆比特的运算。

Marx says paper and the typographic progress that invent pair of mankind societies came into being what cannot underestimate to drive.

马克思说纸与印刷术的发明对人类社会的进步产生了不可低估的推动。

If it does happen, we tend to feel ignored, overlooked and unappreciated.

如果出现了这种情况，我们会觉得自己被低估、被忽视了，并且不受到赏识。

The results from an example showed that the unbiased estimate of error variance could be obtained so that polygenic variance and polygenic heritability could not be underestimated. Moreover, the AIC values by using the average of two replications were less than that by using the observations of a replication.

在试验设计为重复内分组随机区组设计时，通过甘蓝型油菜初花期的遗传分析表明：这种方案的试验误差方差估计值无偏性好，可避免多基因方差和多基因遗传率被低估；重复观测值平均数的分离分析的AIC值低于利用单一重复资料的AIC值。

There are lots of courses for those problems and some can be explained with the economic theory. For example, the increasing depletion of marine fisheries resources is resulted from the unclarity of ownership to fishery resources, which produces the dissension between different regions and between the port developers and the government. And there are also conflict between the current interests and long-term interests. In addition, the contamination of marine environment is from the information asymmetry.

产生上述问题的根源有很多，有些问题可以从经济学理论中得到解释，如海洋渔业资源的日渐枯竭，根源在于渔业资源的产权归属不明晰，而港口资源的价值低估在于港口开发商与政府、政府当期利益与远期利益、不同区域之间等三个博弈"瓶颈"，海洋生态环境的破坏则是因为两方面的信息不对称。

Plunder melds and run with this jewel!

掠夺melds和运行与此宝石！

My dream is to be a crazy growing tree and extend at the edge between the city and the forest.

此刻，也许正是在通往天国的路上，我体验着这白色的晕旋。