套利

In 1922, State Farm was formed by George Mecherle, a farmer from Merna, Illinois, who aimed to take advantage of the pricing umbrella maintained by the high-cost giants of the industry. State Farm employed a "captive" agency force, a system keeping its acquisition costs lower than those incurred by the bureau insurers (whose "independent" agents successfully played off one company against another). With its low-cost structure, State Farm eventually captured about 25% of the personal lines business, far outdistancing its once-mighty competitors. Allstate, formed in 1931, put a similar distribution system into place and soon became the runner-up in personal lines to State Farm.

1922年州农保险由伊利诺州 Merna 的农夫 George Mecherle 所创立，年州农保险由伊利诺州所创立，目标锁定在打破业界掮客所树立的高价保护伞，州农雇用专属仲介人员，标锁定在打破业界掮客所树立的高价保护伞，州农雇用专属仲介人员，这套系统让州农取得保单的成本远低于一般保险同业，套系统让州农取得保单的成本远低于一般保险同业，其独立业务代表接二连三成功地搞倒其它业者，拜其低成本结构所赐，州农最终拮取连三成功地搞倒其它业者，拜其低成本结构所赐，州农最终拮取25%的个的个人业务大饼，含车险及住宅险在内，远远超越昔日强大的竞争对手，人业务大饼，含车险及住宅险在内，远远超越昔日强大的竞争对手，而创立于1931年的 Allstate 也仿效设立类似的行销通路，并一举跃居第二，立于年的也仿效设立类似的行销通路，并一举跃居第二，仅次于州农，资本主义再度发挥神奇的效用，仅次于州农，资本主义再度发挥神奇的效用，而这种低成本的营运确已势不可挡。

September 21 to November 17, on Beach Gardens were sold 35 sets of houses; Yanlord Riverside City, sold a total of 55 sets, including the end of October the new 199 new housing units were sold at 35; Poly Oak Bay is the source of the sale of 96 suites.

橡树湾的销售情况较为理想。9月21日至11月17日，上海滩花园共售出房源35套；仁恒河滨城共售出55套，其中包括10月下旬新推出199套新房源共售出35套；保利。橡树湾则售出96套房源。

The American Depositary Receipts of China Life's "H" shares trade within a whisker of their Hong Kong price, indicating arbitrageurs are alive and well.

中国人寿H股的美国存托凭证与其港股价格差距甚微，表明套利者的确存在。

Rising interest in an exotic legal system - one that appears to promote the use of sale/lease-back structures to disguise interest-bearing debt - was the greatest gift that one could give to skilled legal arbitrageurs who are experts in structured finance.

如果某个外国的法律体系显然促进人们用出售回租结构来掩盖利息型债务，那么，这个法律体系中不断增长的利息，就是经验丰富的法律&套利者&们可能获得的最好礼物，因为他们是结构性金融方面的专家。

Arbitrageurs followed suit, after the bureau's purchases helped pushed copper prices inside China well above those outside.

在国储局的购买推动中国国内的铜价升至远高于国际市场水平之后，从事套利交易的人也开始跟风买进。

If regulations are different in different jurisdictions, there is a real risk of regulatory arbitrage.

如果不同辖区内的监管也不同，监管套利的风险就切实存在。

But as logical as this may sound, ditching the carry trade in favour of a more freewheeling approach reintroduces the problem of the underlying asset class containing no beta, so any gains by one participant must be balanced by losses for another.

尽管这听上去似乎很符合逻辑，但放弃套利交易，转而采取一种更随意的投资方式，会重新引发无风险基本资产类别的问题，因此一方的收益必然意味着另一方的损失。

This version is based on their Arbitrage GT chassis.

此版本是基于他们的套利燃气轮机底盘。

The list of corporate events that can result in big profits for you runs the gamut — spinoffs, mergers, restructurings, rights offerings, bankruptcies, liquidations, asset sales, distributions.

格林布拉特把这些机会描述为股票市场利润的藏身之处。大多数人往往把这些特殊事件当成闲置资金的低收益套利，其实其中的利润巨大。

The world's biggest arbitrage opportunity lies tantalisingly out of reach.

全球最大的套利机会可望而不可及，着实令人着急。

Finally, according to market conditions and market products this article paper analyzes the trends in the development of camera technology, and designs a color night vision camera.

最后根据市场情况和市面上产品的情况分析了摄像机技术的发展趋势，并设计了一款彩色夜视摄像机。

Only person height weeds and the fierce looks stone idles were there.

只有半人深的荒草和龇牙咧嘴的神像。