A mutual fund is an investment vehicle that allows investors to hold a portfolio.

共同基金是一种投资手段,允许投资者持有一种投资组合。

耶鲁公开课 - 金融市场课程节选

What most people are doing when they go into a mutual fund is they're trying to find smart people who will beat the market-- who will pick those stocks that will do well.

大多数人投资共同基金,实际是在寻找聪明之辈,来帮助他们获取更高收益率...,来挑选表现最为优异的股票

耶鲁公开课 - 金融市场课程节选

But then I asked another question, do you think trying to pick mutual funds, trying to find a mutual fund that will beat the market is a smart thing to do or not a smart thing to do?

但是接着我又问了另一个问题,你们认为选择共同基金,选择一种强于市场表现的共同基金,是不是明智之举呢

耶鲁公开课 - 金融市场课程节选

What I think the mutual fund industry has turned into, largely, is a stock picking industry, not a portfolio diversification industry.

我认为,共同基金行业在很大程度上,已经演变成选股行业,而非投资组合多样化行业

耶鲁公开课 - 金融市场课程节选

The problem is even more severe when you're looking at mutual funds because there's kind of a cynical game that mutual fund management companies play.

当你去观察基金市场,会发现问题更严重,因为基金管理公司,会玩一个偷梁换柱的把戏

耶鲁公开课 - 金融市场课程节选

In Unconventional Success, I did a study of individual behavior in their mutual fund purchases and sales around the collapse of the Internet bubble in March of 2000.

在这本书里,我对2000年3月,网络股暴跌时,共同基金购买,和销售中的个体行为做了研究

耶鲁公开课 - 金融市场课程节选