To investors stocks represent fractionalownership of underlying businesses and bonds are loans to those businesses.
对投资者而言,股票代表的是对应企业的部分所有权,而债券是这些企业的贷款。
2
Clubs that offer "fractionalownership" of jets have been popular for some time, and now the concept has extended to other high-end luxuries like exotic cars and fine art.
Alongside this “selective extravagance” is the growth of “fractionalownership”: time-shares in luxury goods and services formerly available only to those paying full price.