美国银行持有低息债券，且至今仍未重组其债券组合；管理层长期表现不佳，并误以为新冠时期的联储政策是暂时的，因此BAC本应赚得多得多，却白白错失了收益。
逐段跳播
但还有不少其他规模更大的银行，比如 Charles Schwab、Bank of America，它们都持有了大量这类低票息债券。
but there were a number of other larger banks, Charles Schwab, Bank of America, that hung on to a lot of that low coupon paper.
而 Bank of America 直到今天都还没有重组它们的债券组合。
and Bank of America even today has not restructured their bond book.
American Express，但不知为何，Bank of America 那帮人一如既往地脑子不转弯。顺便说一句，它们是我的开户银行。而它们一直在把这家机构管理得一塌糊涂。
American Express, but for some reason, the folks at Bank of America were kind of brain dead as usual. They're my bank by the way. And they have constantly mismanaged that institution.
所以，我认为，有些银行家不懂久期，这实在令人遗憾。他们不明白美联储在新冠疫情期间的做法只是暂时的，也不明白他们需要据此管理自己的债券组合。
So, you know, I think it's just unfortunate that some bankers don't understand duration. They don't understand that what the Fed did during COVID was temporary and that they needed to manage their book accordingly.
这很可惜，因为他们白白错失了大量收益，David，而这正是关键所在。但你可以这样想：Bank of America 本应赚到比现在多得多的钱。而原因就在于管理层根本懒得去管。
It's sad cuz they're leaving a lot of money on the table, David, which is is really the point. But think of it this way. That Bank of America should be making a lot more money than they are.
And it's because management just doesn't want to be bothered.