心理学家协助瑞银提高研究水平
UBS has used psychologists, data scientists, shipment specialists and pricing experts to overhaul how it generates investment ideas and recommendations for clients.
瑞银(UBS)聘用心理学家、数据科学家、运输专家和定价专家，全面改革其为客户产生投资主意和建议的方式。
The Swiss bank said the move — which some investors view with scepticism — had more than doubled readership of its research in the past two years.
这家瑞士银行表示此举——遭到部分投资者质疑——在过去两年已使其研究报告的读者群翻了一倍以上。
UBS poached Juan-Luis Perez, global head of research who led the move, from Morgan Stanley in late 2013.
2013年末，瑞银从摩根士丹利(Morgan Stanley)挖来胡安-路易斯•佩雷斯(Juan-Luis Perez)，让他担任瑞银全球研究主管，负责领导此项努力。
Sprawling City research departments have been going through an existential crisis as banks and brokers prepare to abandon the age-old practice of bundling their research costs with trading fees to satisfy EU rules coming into force in 2018.
在伦敦金融城，各机构庞大的研究部门正在经历一场生存危机，银行和券商纷纷准备放弃将研究成本与交易费捆绑在一起的古老做法，以满足将于2018年生效的欧盟法规。
UK-based banks expect to be held to the same rules regardless of Brexit.
无论英国退欧与否，英国各银行预计将被要求遵守相同规则。
Investors are under pressure over the fees they charge their own clients and are struggling with low interest rates.
投资者对自己客户收取的费用正受到压力，同时他们还要艰难应对低利率。
A drastic reduction is expected in the volume of research they use.
预计他们使用的研究量将大幅降低。
Mr Perez, a 30-year-veteran of sellside research, told the Financial Times that to thrive in the new era researchers had to ask better questions rather than letting themselves off the hook with questions and vague buzz words.
有30年卖方研究经验的佩雷斯对英国《金融时报》表示，要在新时代蓬勃发展，研究人员必须提出更好的问题，而不是用问题和含糊的时髦词汇过关。
This is the area where the sellside has to make the biggest investment, and we are not making as much of an investment as we have to, he said.
他说：这是卖方必须做出最大投资的领域，而我们正在做出的投资还不够。
Mr Perez said he had used psychologists to help analysts think about topics differently and pinpoint more precise and insightful research questions.
佩雷斯表示，他已用心理学家帮助分析师从不同角度思索话题，准确提出更精确、更有见地的研究问题。
Certain words were discouraged, the research chief said, because they were so vague as to be unhelpful.
这位研究主管表示，有些词汇建议不用，因为它们如此含混不清，以至于会帮倒忙。
For example, investors could interpret the word risky as a perceived chance of failure of anything between 10 and eightysomething per cent.
例如，投资者可能将有风险这个词解读为失败几率介于10%到80%以上这个宽泛的区间。
If you are using the word risky all the time, you never learn.
佩雷斯说：如果你一直使用‘有风险’这个词，你永远得不到任何收获。
The interpretation is so broad that you can always take the victory lap, said Mr Perez.
它的解释是如此宽泛，让你总是能自称胜利。
But a greater challenge was to break down the big questions, like ‘what is the future of the bank?’ into testable propositions, he added.
但他同时表示，更大的挑战是把那些大问题——例如‘这家银行的未来是什么？’——拆解成可验证的命题。
UBS was using a team of specialists in such areas as geospatial analysis, shipments and payments, and data science, said Mr Perez.
佩雷斯表示，瑞银启用了一支专家小组，其学科领域涵盖地理空间分析、运输和支付，以及数据科学。
Clients could use interactive tools to assess such things as the likely take-up of Apple’s next innovation or future competition on air routes.
他还表示，客户可以使用交互式工具来评估一些问题，比如苹果(Apple)下一个创新的可能接受率 ，或者某航线的未来竞争。
Some of the resulting research had a readership that was several multiples of what would normally be expected, he added.
他补充说，部分研究结果的读者人数达到了通常预期的好几倍。
