投资者

By using Hasbrouck model to test the asymmetric information contained in price and its influence through the analysis of stock price and volume,we find out for the first time that market trade informationcontained in the object stocks in Shanghai and Shenzhen A-share stock markets is a dumbbell shape with both ends issymmetrical,different from

尝试采用投资者心态模型从投资者的守旧性和表征性启发式思维方式角度解释沪深A股市场惯性及反转效应异象形成的原因，并采用沪深A股市场的实际交易数据进行模拟验证。

The empirical result differs from the Hasbrouck test result on the USA New York exchange market,which shows a spindle shape with few figures spread in the two ends and most centralize around the average.

另外也说明我国证券市场的投资者投资技巧和研究水平与发达国家相比仍处于不成熟状态，投资者更热衷于通过内幕信息获利，这是导致市场规范度低的原因之一。

This approach will enable the different investors bear the risk, and access to the corresponding rewards. The first two methods did not consider investors attitudes of risk and the expected price of the spot or futures. However, the hedger of the maximize effectiveness calculates the optimal hedge ratio through the establishment of investors utility function and calculus.

前面两类方法都没有考虑投资者的风险态度和对现货或者是期货价格走势的预期，而效用最大化套期保值通过建立投资者的效用函数，再利用微积分求最值的方法来计算最优套期保值比率。

It's good opportunity for investor to operate when the market is sluggish, but great majority of investors dare not show any interest in the stocks dun to the Herd Instinct, even though the high-grade stocks are undervalued seriously. Because all of the investors display pessimistic emotion in stock market and the media have negative comments on the stock market.

市场低迷时，是进行投资的好时机，但是由于市场上所有投资者都显现出悲观情绪，媒体也是一片空头言论，大多数投资者因为羊群效应的心理，即使是最优质的股票被大幅低估，也不敢问津。

Herd Instinct-- Some investors buy shares when they see hectic buying in the market by other investors, i.e. chasingthe price of the stock up.

羊群效应：一些投资者见其他投资者在市场上追购某只股票，也不落人后跟着买入。

Herd Instinct-- Some investors buy shares when they see hectic buying in the market by other investors, i.e. chasing the price of the stock up.

羊群效应：一些投资者见其他投资者在市场上追购某只股票，也不落人后跟着买入。

That is to say individual investors manifest significant herding behavior and institutional investors is relatively rational in making decisions.

个人投资者和机构投资者的投资行为是值得我们进一步研究的。

The core of the scheme - taking investments from one client to pay returns to another -"has been around since the beginning of time," said Marc Powers, a former Securities and Exchange Commission enforcement chief and head of the securities practice at Baker Hostetler.

骗局的核心是用一个投资者的钱支付另一个投资者的利润，"从一开始就循环了"，前证券交易委员会主席、贝克霍斯得特勒律师事务所首席证券顾问M arc Powers说。

In addition to easing the stress, the use of an investor relations firm can help a corporation appear more professional to investors, creating a greater image of stability and profitability.

除了缓解压力利用投资者关系公司能出现更多的专业公司，对于投资者创造更大的利润和稳定的形象。

Another imponderable is the behaviour of the many investors with shares in funds that track the price of oil or other commodities.

很多投资者把钱投在一个跟踪油价和其他期货价格的基金。另一个无法估计的因素就在于这些投资者的行为。

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。