Asset Prices When Agents are Marked-to-Market

"Risk management" in securities markets refers to the oversight of portfolio managers and professional traders when they trade on behalf of investors in security markets. Monitoring of their trading performance, profit and loss, and risk-taking behavior, is measured by principals using security证券市场中的风险管理（Risk management）指对投资组合经理（portfolio managers）与专业交易员（professional traders）在证券市场代表投资者开展交易时实施的监督管理。委托方（principals）会通过证券（security）对上述主体的交易业绩、盈亏状况以及风险承担行为进行监测与评估。