Investors will refuse to take these risks unless they expect a return greater than the low-risk return of cash or cash substitutes.

Investors will refuse to take these risks unless they expect a return greater than the low-risk return of cash or cash substitutes.

翻译：如果投资者得到的回报低于投资低风险的现金或现金替代品，那么，他们是不愿意承担这些风险的。