来自《耶鲁大学开放课程：金融市场 第17集 第17集》

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  They would take a red herring,
  猎人们会拿一条红鲱鱼
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  which is a very smelly kind of fish,
  这是一种气味浓烈的鱼
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  and they would drag it around over the trail of the fox;
  他们会在狐狸痕迹周围留下红鲱鱼的味道
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  it's very difficult for dogs
  在这种情况下
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  to still smell the fox over that smell.
  猎狗很难分辨出狐狸的气味
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  The word red herring became known as a euphemism
  红鲱鱼后来逐渐演变成
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  for something trying to distract and confuse and
  歪曲事实或混淆视听的委婉说法
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  so it was a joke.
  这只是玩笑
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  I think it was a joke on Wall Street
  我觉得这是在拿华尔街开玩笑
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  that the prospectus is really just there to try to confuse you,
  招股说明书实际上是用来迷惑你
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  so they called it the red herring.
  所以称之为红鲱鱼
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  The preliminary prospectus
  预披露招股说明书