If you didn't have to declare to the world what your present value of your remaining assets are,

如果你无需申报你的剩余资产的现值
because you could say, "Oh, it's so hard to figure out.

因为你可以说哦这个很难弄清楚
I don't know what the stuff is worth,

我不知道这些资产的价值
the present value of what's going forward.

未来现金流的现值
I just know the cash that's coming in."

我只知道现金在的现金流量
This carry trade would look like a really good trade, wouldn't it,

这种套利交易将看起来像一个很好的贸易
and a lot of people would do it because then they would look--

很多人会做因为他们看起来
the public would think that they're doing really well

公众会认为他们现在做的真的很好
because they're getting positive value,

因为他们得到了正价值
but in the future that positive value they're getting

但在未来他们得到的所谓的正价值
is just disguising losses that are happening in their portfolios going forward.

只是掩饰在其投资组合发生的损失
So any questions about that? Yeah?

有什么问题吗?