财富

But, the rising of real estate price affected the growth of consumption ambiguously.

实证研究表明，资产的财富效应普遍存在，房地产市场和股票市场的财富变化对消费的财富效应的估计系数经常有一个是不显著的，或财富效应较微弱。

The wealth management service is one of the most profitable and potential assets for the banking industry and financial world. However, the market of wealth management service of Taiwan is not as blossomy as that of the America. One of the important reasons is that the customer's banking and investments can not be consolidated through the diversity of service quality offered by the financial planners and investment advisors.

财富管理或理财规划为目前金融产业的重点发展项目，而目前台湾财富管理市场之所以会比美国等其它财富管理较健全的国家不兴盛，其中部分原因即市场上存在理财规划人员素质不一的问题，无法长期且稳定的给与专属之个人财富规划。

Chapter six presents such new concepts as margin utility contribution force, profit-risk exchange rate, state-expectation-variance utility function, long-term expectation-variance utility curve and optimal portfolio expansion curve. The state-expectation-variance analytical method is developed from the expectation-variance analytical method. The changing rate of profit-risk exchange rate to state variable is used to define and distinguish the decreasing, constant and increasing relative risk aversion. A decomposition formula about the margin contribution force of holding wealth to state-expectation-variance utility function is displayed. The decomposition formula demonstrates that the contribution force of investors' holding wealth to their utility is composed of the pure contribution force of holding wealth and the investment contribution force bronght about through investment portfolio.

第六章提出了边际效用贡献力、收益—风险替换率、状态—期望—方差效用函数、长期期望—方差效用曲线、最优证券组合扩展线等新概念；把期望—方差分析方法发展成状态—期望—方差分析方法；用收益—风险替换率对状态变量ω的变化率来定义和区分递减、定常、递增相对风险厌恶；获得了持有财富对状态—期望—方差效用函数的边际贡献力的分解式，该分解公式表明投资者的持有财富对他的效用的贡献力由持有财富本身的纯贡献力和持有财富通过投资证券组合所产生的投资贡献力所组成。

The personal fruition in any man cannot reach to feel great riches: there is a custody of them; or a power of dole and donative of them; or a fame of them; but no solid use to the owner.

任何人的个人享受极其有限，感觉不出与巨额财富有直接关系；他感觉的只是对财富的保管、财富具有的施舍与捐赠能力、以及财富带来的名望；但对拥有者来说，这没有非常实在的用处（或译"真正的实用价值"）。

The personal fruition in any man cannot reach to feel great riches: there is a castody of them; or a power of dole and donative of them; or a fame of them; but no solid use to the owner.

任何人的个人享受极其有限，感觉不出与巨额财富有直接关系；他感觉的只是对财富的保管，财富具有的施舍与捐赠能力，财富产生的声望；但对拥有者来说，这没有非常实在的用处（或译"真正的实用价值"）。

Currently, under half of all wealth managers hold more than 40 per cent of their clients investable wealth - but over the next three years this proportion is expected to increase dramatically so that 80 per cent of wealth managers hold 40 per cent of a clients wealth.

目前，不到半数的财富经理管理着其客户逾40%的可投资财富--但未来3年内，这一比例有望大幅提高，届时80%的财富经理将管理着客户40%的财富。

Currently, under half of all wealth managers hold more than 40 per cent of their clients' investable wealth - but over the next three years this proportion is expected to increase dramatically so that 80 per cent of wealth managers hold 40 per cent of a client's wealth.

目前，不到半数的财富经理管理着其客户逾40%的可投资财富--但未来3年内，这一比例有望大幅提高，届时80%的财富经理将管理着客户40%的财富。54654654(www.storyall.cn)

Currently, under half of all wealth managers hold more than 40 per cent of their clients' investable wealth - 8ttt8.com over the next three years this proportion is expected to increase dramatically so that 80 per cent of wealth managers hold 40 per cent of a client's wealth.

目前，不到半数的财富经理管理着其客户逾40%的可投资财富--但未来3年内，这一比例有望大幅提高，届时80%的财富经理将管理着客户40%的财富。

We sincerely wish you prosperity and good fortune with Bank of Communications' OTO FORTUNE.

沃德财富谐音同"我的财富"、获得财富，在此我们真诚地祝愿您的理想与财富同交通银行的百年事业共成长。

A variety of insurers slipped including Allstate "ALL, Fortune 500", MetLife "MET, Fortune 500", Chubb "CB, Fortune 500", Progressive "PGR, Fortune 500" and Hartford Financial Services "HIG, Fortune 500".

各种各样保险公司下跌包括好事达&所有，财富500强&，都市人寿&Met，财富500强&，CHUBB&CB，财富500强&，进步&PGR，财富500强&哈特福德金融服务&HIG，财富500强&。

But in the course of internationalization, they meet with misunderstanding and puzzlement.

许多企业已经意识到了这一点，但在国际化的进程中，仍存在一些误区与困惑。

Inorder toaccomplish this goal as quickly as possible, we'll beteamingup with anexperienced group of modelers, skinners, and animatorswhosenames willbe announced in the coming weeks.

为了尽快实现这个目标，我们在未来数周内将公布与一些有经验的模型、皮肤、动画制作小组合作。