Resources

Sentences
The industry rode a decade-long bull market and a booming retirement business so well that it managed a record $7.5 trillion of assets — nearly as much as Europe's annual gross national product — by the end of 2000. 这个行业如此成功地驾奴了长达10年的牛市行情和繁荣的退休金业务，以至于它管理的资产在2000年末达到了创记录的7.5万亿美元——于欧洲的年国民收入毛额。
bull market 指“看涨的或上涨的市场行情”，俗称牛市，而下跌的行情俗称熊市(bear market); retirement business此处特指管理退休金(pension fund) 的业务。
The carnage in stock funds — the biggest money-spinners for management companies — is far bloodier. 股票基金市场的“大屠杀”更为血腥，而股票基金对于（基金）管理公司而言是最赚钱的买卖。
carnage意为“大屠杀”，此处用来比喻股票基金遭受的巨大损失；
money spinner（俚语）意为“最赚钱的企业或买卖”；
management companies从上下文来看指各种投资基金。
Those investors still hanging on may be in for even more bad news as the funds scramble to cut costs. 那些仍然坚持下来的投资者也许注定要听到更多的消息，因为这些基金正拼命地削减成本。
hang on 意为“坚持”，此处指坚持不从投资基金中撤资的投资者；
in for意为“注定会得到”，如You're in for a big surprise.你肯定会大吃一惊。
Build a huge machine to muscle into every brokerage office and onto every household computer screen, the thinking went, and success would follow. 这种想法认为，只要建造一格巨型机器，然后挤进每一家中介行和每个家庭的电脑屏幕，那么成功就会水到渠成。
huge machine指投资基金的网络服务器，用来实现在线交易。
All the hypes created a situation in which the hopes and expectations of 93 million fund investors were bound to be dashed. 所有这些鼓噪造成了这样一种情形——9300万名基金投资者们的期望注定要受挫。
The few successful managers increasingly come form the hundreds of boutique firms running small funds most investors have never heard of. 为数不多的成功的基金经理越来越多地来自经营小规模基金的投资小店，大多数投资者从未听说过这些小店。
To add insult to injury, some fund groups that have lost scads of money for investors are sticking them with extra charges — because the value of their accounts has sunk below the minimum investment. 1）some fund groups are sticking them with extra charges是主句
2）that have lost scads of money for investors是限制性定语从句，修饰名词fund groups
3）because the value of their accounts has sunk below the minimum investment是原因状语从句
4）to add insult to injury 是插入语，用来说明个人的意见或态度等
解释：那些使投资者损失了大笔钱的基金集团正用额外的收费来蒙骗他们——因为投资者的基金帐户的价值已经跌破了最低投资额度，这无异于雪上加霜。
注：投资资金一般为投资者的基金帐户规定一个最低投资额度，低于该额度基金就要收取附加费用。作者显然认为由于投资基金运作不力导致投资者的基金帐户减值，基金为此再向投资者收取额外费用是不公平的。
In fact, expenses will grow faster than revenues for the third straight year 实际上，费用的增长连续第三年快于收入的增长。
straight表示“连续的，不间断的”，
如：He's sick for five straight days.他连续病了四天。
Outside the New York Grand Hyatt’s Empire State Ballroom, Male is in no mood to join the 2,000 shareholders boogying to a Motown band, wolfing down shrimp cocktail, and cheering patriotically as Liza Minnelli belts out New York, New York at Baron Fund’s recent shindig. 1）Outside the New York Grand Hyatt’s Empire State Ballroom, Male is in no mood to join the 2,000 shareholders 是主句
2）boogying to a Motown band, wolfing down shrimp cocktail, 和 cheering patriotically as Liza Minnelli belts out New York, New York at Baron Fund’s recent shindig 是三个现在分词短语，作伴随状语，说明和to join the 2,000 shareholders同时发生的动作；这个结构也可以理解为是join the 2,000 shareholders (in) boogying to a Motown band, wolfing down shrimp cocktail, and cheering patriotically as Liza Minnelli belts out New York, New York at Baron Fund’s recent shindig省略了介词“in”，join someone in (doing) something意思是“加入某人，和某人一起做某事”；其中的as Liza Minnelli belts out New York, New York at Baron Fund’s recent shindig 是个时间状语从句，说明cheering的时间
The industry rode a decade-long bull market and a booming retirement business so well that it managed a record $7.5 trillion of assets –nearly as much as Europe’s annual gross national product – by the end of 2000. 1）The industry rode a decade-long bull market and a booming retirement business so well 是主句
2）that it managed a record $7.5 trillion of assets by the end of 2000是个状语从句，它和so well 一起，表示结果
3）nearly as much as Europe’s annual gross national product 相当于非限制性定语从句which was nearly as much as Europe’s annual gross national product，修饰$7.5 trillion of assets.
Perhaps even more ominous is how the industry has damaged the very core of its business: investors’ belief that the funds could produce superior returns at low cost while protecting them from untoward risk. 1）这个句子的主语比较长，表语比较短，因而采用倒装的语序
2）how the industry has damaged the very core of its business 是主语从句
3）investors’ belief that the funds could produce superior returns at low cost while protecting them from untoward risk 是同位语，说明core的内容，that the funds could produce superior returns at low cost while protecting them from untoward risk是同位语从句，说明belief的内容，其中的while protecting them from untoward risk是个省略了主语的时间状语从句，说明谓语could produce，这个从句如果补全，则是while the funds protect them from untoward risk
Build a huge machine to muscle into every brokerage office and onto every household computer screen, the thinking went, and success would follow. 1）这个句子是由祈使句Build a huge machine to muscle into every brokerage office and onto every household computer screen 和陈述句success would follow构成，在这个结构中，如果两个句子是由and连接，则前面的祈使句相当于条件状语从句if you build a huge machine to muscle into every brokerage office and onto every household computer screen, 例如Set out early and you will get there before dark. (If you set out early, you will get there before dark.)
2）the thinking went是插入语
In a rush to scoop up every last investment dollar in the 1990s, fund firms bombarded investors with nearly 6,000 funds, many of them mediocre. 1）In a rush to scoop up every last investment dollar in the 1990s 是介词短语，作时间状语，其中的动词不定式to scoop up every last investment dollar in the 1990s作定语，修饰名词rush
2）many of them (being) mediocre 是个伴随状语，相当于一个并列句many of them were mediocre
And until the Securities $ Exchange Commission clamped down, the companies routinely invented snazzy fund names to pique investors’ interest, though stocks they invested in bore little relationship to the title or the risks of the fund. 1）the companies routinely invented snazzy fund names to pique investors’ interest是主句
2）until the Securities $ Exchange Commission clamped down是时间状语从句，说明主句中谓语动词invented发生的时间
3）though stocks they invested in bore little relationship to the title or the risks of the fund是让步状语从句，也说明主句中谓语动词invented，其中有个限制性的定语从句they invested in，修饰名词stocks
Trouble is, mutual-fund mangers and other investment pros such as pension-fund managers judge their performance exclusively in relative terms – by measuring how well they do compared with a benchmark such as the Standard & Poor’s 500-stock index. 1）Trouble is是主句
2）mutual-fund mangers and other investment pros such as pension-fund managers judge their performance exclusively in relative terms是表语从句
3）介词短语by measuring how well they do compared with a benchmark such as the Standard & Poor’s 500-stock index作状语，说明谓语动词judge的方式，其中的how well they do compared with a benchmark such as the Standard & Poor’s 500-stock index是宾语从句，作measuring 的宾语
If the index is down 13%, as it is so far this year, they’re heroes if they are only down 11%. 1）they’re heroes是主句
2）If the index is down 13%, as it is so far this year是条件状语从句，其中的as it is so far this year是个方式状语从句
3）if they are only down 11%是另一个条件状语从句
That is phooey to most ordinary investors, who want to see their wealth expand in absolute terms and not simply to get poorer slower than their neighbors. 1）That is phooey to most ordinary investors是主句
2）who want to see their wealth expand in absolute terms and not simply to get poorer slower than their neighbors是个非限制性定语从句，修饰名词investors，其中：
I. 动词不定式to see their wealth expand in absolute terms 和 not simply to get poorer slower作动词want的宾语
II. than their neighbors (do/get poor) 是个省略了谓语动词的比较状语从句，和slower一起构成比较
Combine that with complacency, and we’re in for a remarkable transition like we’ve never seen before. 1）这个句子是由祈使句Combine that with complacency 和陈述句we're in for a remarkable transition like we've never seen before构成，在这个结构中，如果两个句子是由and连接，则前面的祈使句相当于条件状语从句if we combine that with complacency, 例如Study hard, and your English will improve. (=If you study hard, your English will improve.)如果你努力学习，你的英语就会有所提高。
2）like we've never seen before是个方式状语从句，like可以换成as
Their best hope may be to buy portfolio management from specialists to boost their sickly performance, as American Express Co. did recently when it hired Mario Gabelli, Pilgrim Baxter & Associates, and Wellington Management to run a smattering of new funds. 1）Their best hope may be to buy portfolio management from specialists to boost their sickly performance是主句
2）as American Express Co. did recently when it hired Mario Gabelli, Pilgrim Baxter & Associates, and Wellington Management to run a smattering of new funds是方式状语从句，说明动词buy发生的方式，其中，when it hired Mario Gabelli, Pilgrim Baxter & Associates, and Wellington Management to run a smattering of new funds 是时间状语从句，说明动词did (bought)发生的时间
When it liquidated its $500 million Longleaf Partners Realty Fund in November, Longleaf Partners gave back what remained to investors, saying the shrinking market in real estate stocks was too small to make profits. 1）Longleaf Partners gave back to investors是主句
2）When it liquidated its $500 million Longleaf Partners Realty Fund in November是时间状语从句，说明谓语动词gave发生的时间
3）what remained是宾语从句，作谓语动词gave的宾语
4）saying the shrinking market in real estate stocks was too small to make profits是现在分词短语，作伴随状语，说明和谓语动词gave同时发生的动作，其中的the shrinking market in real estate stocks was too small to make profits.是宾语从句，作saying的宾语
When the Malvern (Pa.) company was threatened by exchange-trade funds (an alternative to mutual funds that trade like stocks on an exchange), it developed its own EFT product line, including the Vanguard Total Stock Market VIPERS, which tracks the broad Wilshire 5,000 index. 1）it developed its own EFT product line是主句
2）When the Malvern (Pa.) company was threatened by exchange-trade funds (an alternative to mutual funds that trade like stocks on an exchange)是时间状语从句，说明谓语动词developed 发生的时间，其中的an alternative to mutual funds that trade like stocks on an exchange是同位语，说明名词exchange-trade funds的性质，同位语中还有一个限制性的定语从句that trade like stocks on an exchange修饰名词funds
3）including the Vanguard Total Stock Market VIPERS, which tracks the broad Wilshire 5,000 index是个现在分词短语，作定语，修饰名词product line，相当于which included the Vanguard Total Stock Market VIPERS, which tracks the broad Wilshire 5,000 index，其中的which tracks the broad Wilshire 5,000 index是个非限制性定语从句，修饰Vanguard Total Stock Market VIPERS