非组合的

First of all, Shanghai Stock Market s risk constitution, and the ratio of the systematic risk and the non-systematic risk were introduced, some suggestion of risk management were also put forward .Secondly, the risk and the income relations were analyzed. Thirdly, using thirty (30) samples stocks of Shanghai Thirty (30) Indexes as the combination, the investment portfolio scale and the disperser risk degree, etc., were examined, the strategy of investment portfolio in Shanghai Stock Market was also put forward .

首先，分析了上海股市的风险构成，系统风险和非系统风险的比例，并根据上海股市的实际提出了风险管理的对策；其次，分析了风险与收益的关系；再次，以上海30指数的30只样本股为组合对投资组合的规模、分散风险的程度等作了研究，并提出上海股市投资组合的策略。

Since Leptokurtosis, skewness and fat-tail are always used to depict market risk, this paper introduces the improved Laplace distribution to risk management of stock portfolio. Empirical results show, improved Laplace distribution and asymmetric Laplace distribution are similar for estimating Leptokurtosis, while improved Laplace distribution is better for estimating skewness.In order to analyze the correlation between return distribution and volatility, the thesis uses ARCH-M Models to simulate the return series of China's Stock Market and developed markets ao as to discover the relation between investment return and time-varying risk.

对尖峰、厚尾、偏态的刻画有助于正确估计市场风险，本文将改进型Laplace分布引入到股票组合的风险管理中，实证结果发现，改进型Laplace分布和非对称Laplace分布对尖峰、厚尾的刻画效果接近；而非对称Laplace分布对负偏性考察不足，改进型Laplace分布的拟合结果能够准确地反映股指收益的负偏态，这也正是改进型Laplace分布相对于传统的非对称Laplace分布的优势所在。

But their record in wooing portfolio investors, who want to buy shares not companies, has been patchy.

但是他们在吸引那些想购买股票而非公司的投资组合投资者纪录差强人意。

However, because the reinsurance businesses have the properties of heterogeneity, long-tail, and information lags, it is more complex and difficult to evaluate reinsurer's reserves, especially for non-life reinsurers.

然而，由于再保险业务组合的非同质性，长尾性质及信息延迟等，准备金提取操作对于再保险人来说更为复杂，尤其是非寿险再保险业务。

Flat and coned washers pre-assembled or loose, should be tested on a fixture having an oversize clearance hole so that a high tensile stress is induced to the washer.

组合螺栓和组合螺母上的平垫圈或锥形垫圈，或非组合件用的平垫圈或锥形垫圈，应在具有较大孔径的通孔的夹具上进行试验，从而使垫圈承受较大的拉伸应力。

Portfolio investment is an efficient way to reduce risk. Risk can be classified into systematic risk and nonsystematic risk, and the latter can be diversified by portfolio investment.

投资组合是降低风险的有效途径，风险可以分为系统风险和非系统风险，后者可以通过投资组合的方式加以分散和消除。

The results show that: 1. In the selected four funds, the theoretical risk of three funds is less than that of the actual portfolio fund, and only one fund's risk is higher than that of the actual portfolio fund; 2. It's hard to determine which combination is better between the single exponential model and Markowits'model;.3. Allowing short-selling is better than disallowing short-selling and the optimal solution can not be found under the condition of disallowing short-selling.

结果发现：(1)4只基金中有3只基金的理论模型的风险小于基金实际组合的风险，1只基金的理论模型的风险大于基金实际组合的风险；(2)单指数模型组合与Markowitz模型组合熟优熟劣难以定论；(3)允许卖空组合优于非允许卖空组合，且非允许卖空使得理论模型有时找不到最优解。

Therefore, transaction costs must be considered in security investment,furthermore,haling no consideration of transaction costs might lead to invalid portfolios.

在实际的投资中，无论是买进证券还是卖出证券，都要求投资者支付一定的交易费用，交易费用的支付会影响到投资者最终的收益，因此将交易费用考虑到证券投资组合模型中十分必要；不仅如此忽略交易费用还可能导致非有效的证券组合，而文[1]在证券投资理论研究中没有考虑交易费用。

Deductive or inductive seems not to have affected text comprehensibility much, but the interactive cumulating miscues at the discourse level played an important role in discourse comprehension.

本文借助TylerandBro(1992)语篇现象与受话理解的研究，对53名学习英语的中国学生和10名本民族语言人进行了不同信息排列组合与语篇标记错误，二语写作错误对语篇理解的影响的调查，发现不同信息排列组合的语篇对英语本民族与非本民族语言人的语篇理解均无很大影响，而累积的、相互作用的语篇标记错误，却对语篇理解有着至关重要的作用。

By using the pules echo ultrasonic technique with 10 MHz. the ultrasonic velocities of the amorphouse carbon and their pressure dependence have been measured in the pressure up to I GPa. We have calculated its second, third- and combinations of forth-order elastic constants, and have researched its Gruneisen constant.

本文报导了利用10MHz超声脉冲&回波重合法&，测量非晶碳的声速及其在1GPa压力以内的变化规律，得到非晶碳的二阶弹性常数，三阶弹性常数及组合的四阶弹性常数，从而进一步计算和研究非晶碳的Gr？

On the other hand, the more important thing is because the urban housing is a kind of heterogeneity products.

另一方面，更重要的是由于城市住房是一种异质性产品。

Climate histogram is the fall that collects place measure calm value, cent serves as cross axle for a few equal interval, the area that the frequency that the value appears according to place is accumulated and becomes will be determined inside each interval, discharge the graph that rise with post, also be called histogram.

气候直方图是将所收集的降水量测定值，分为几个相等的区间作为横轴，并将各区间内所测定值依所出现的次数累积而成的面积，用柱子排起来的图形，也叫做柱状图。