投机过度

The investors" over-speculation then contributes to the speculative nature of China"s stock market. The above logic can be depicted as following "institutional factors → investors" behavior→ market performance.

由于投资者的过度投机行为直接导致我国股市的高投机性，因此，以上分析体现了"制度→投资者行为→市场结果"这一逻辑脉络。

But as Buttonwood noted two weeks ago, gold can itself be the subject of speculative excess, as it was in 1980: any asset that takes 28 years to reclaim its peak is hardly a reliable store of value.

但是就像Buttonwood两周前指出的，黄金本身也会成为过度投机的目标，就像1980年代所出现的那样。不管怎么说，要用28年才能重新爬回高峰的资产肯定不是可靠的保值工具。

Pointed out that our country should limit excessively congenially, should enhance the boss company quality achievement to suppress the excessively congenial essential measure.

指出我国应限制过度投机，应把提高上司公司质量作为抑制过度投机的关键措施。

In methods and so on debt reorganization cannot solve in the serious loss company's question situation, these companies draw back the city finally, will be the development necessity, will consummate our country To be listed's withdrawal mechanism to be advantageous to the optimization stock market resources deployment; Is advantageous in the introduction superior win and the inferior wash out competitive system, the inferior company sets up the crisis to realize, guarantee To be listed's overall quality; Is helpful in suppresses the Stock market excessively congenially, cultivation mature, rational investor.

在债务重组等手段不能解决严重亏损公司的问题的情况下，这些公司的最终退市，将是发展的必然，完善我国上市公司的退出机制将有利于优化证券市场的资源配置；有利于引入优胜劣汰的竞争机制，劣质公司树立危机意识，保证上市公司的总体质量；有助于抑制股票市场的过度投机，培育成熟、理性的投资者。

The present paper through to the value investment theory's formation and the development discussion, to the value investor behavior characteristic's elaboration, using the behavior finance theory from the expectancy theory, the flock of sheep effect, responded excessively, the reverse operation model and so on four aspects and have carried on the contrast congenially to the value investment, theoretically explained why the value investment idea does have the sophistication.

本论文通过对价值投资理论的形成与发展的探讨，对价值投资者行为特征的阐述，运用行为金融理论从期望理论、羊群效应、过度反应、反向操作模型等四个方面对价值投资与投机进行了对比，从理论上解释了价值投资理念为什么具有先进性。

We also learned that overconfidence in the future together with unlimited cheap money leads to an odds-on bubble.

我们还认识到对未来的过度自信和泛滥的廉价资金催生了一种投机泡沫。

As Irving Fisher, a scholar of the Depression, pointed out,"overinvestment and overspeculation…would have far less serious results were they not conducted with borrowed money."

正如一位大萧条的学者Irving Fisher指出的"过度投资和过度投机。。。如果没有用借贷的钱操作，原本不会造成如今严重的后果。"

The stability of value of local and rational market depends on rational spec and the strength that are not reason to make easy conduct are comparative, and the excessive fluctuation that immature market often shows often is the expression that rational spec is in weak force.

局部理性市场价格的稳定性取决于理性投机与非理性交易行为的力量对比，而不成熟市场经常显现的过度波动性则往往是理性投机处于弱势的表现。

In the futures market environment of excessive speculation, because there exists individual risk bias between futures exchange and broker, what's more, they hold different attitudes toward degree of speculation. So the situation results in information rivalry.

在过度投机的市场环境下，由于期货交易所与经纪公司各自的监管取向偏好不同，对影响市场投机信息的把握尺度也迥异，这就在交易所与经纪公司之间产生了信息博弈。

The implicit faith in the ability of the market economy to correct itself, which is largely responsible for the removal of established regulations in the United States, tended to ignore the activities of prodigals and projectors in a way that would have shocked Adam Smith.

斯密将那些过度的求利风险的鼓吹者称为&投机分子&，这一说法是对过去几年中的次级贷款放债人的绝好形容。例如，在讨论反高利贷法的时候，斯密希望国家规范在那些鼓吹不稳定贷款的&投机分子&面前，为公民提供保护

They weren't aggressive, but I yelled and threw a rock in their direction to get them off the trail and away from me, just in case.

他们没有侵略性，但我大喊，并在他们的方向扔石头让他们过的线索，远离我，以防万一。

In slot 2 in your bag put wrapping paper, quantity does not matter in this case.

在你的书包里槽2把包装纸、数量无关紧要。