会计考友 发表于 2012-8-16 08:17:42

金融财经英语表达:being long or short

  There is an asymmetry in the risk/reward ratio between being long or being short in the stock market. (Being long means owning a stock, being short means selling a stock one does not own.)
  在股市中做多或做空,存在风险回报率的不对称。(做多指的是持有一只股票,做空指的则是出售自己并不拥有的某只股票。)
  Being long has unlimited potential on the upside but limited exposure on the downside. Being short is the reverse. The asymmetry manifests itself in the following way: losing on a long position reduces one's risk exposure while losing on a short position increases it. As a result, one can be more patient being long and wrong than being short and wrong. The asymmetry serves to discourage the short-selling of stocks.
  做多拥有无限上行潜力,而下行风险却是有限的。做空的情况恰好相反。不对称以下述方式表现出来:人们在多头头寸上亏损会降低其风险敞口,而在空头头寸上亏损会增加风险敞口。因此,人们对做多失误的容忍度,会高于做空失误。这种不对称阻碍了股票卖空交易。
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