Today I want to talk about banking and this ties in somewhat to my previous lecture, which was on real estate, because Banks are major real estate lenders and investors in real estate securities.
Financial managers find options lurking in real assets-that is, real options-and in the securities the firms may issue.
财务经理可以找到以实物资产为基础的期权——实物期权，和以公司发行的证券为基础的期权。
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Oil seems to be putting in a bottom on strong volume, no one is left to buy any more negative real-yield securities the Treasury is issuing, and gold has started looking very bullish.