You get nineteen times your money over eighty-one years, but then if you take into account the inflation consumes a multiple of eleven and you're an institution like Yale that consumes only after inflation returns, putting your money into treasury bills really didn't get you very much.

1年后你的钱翻了19倍,但是如果考虑通货膨胀,在此期间侵蚀了11倍的收益,而且如果你是像耶鲁这样,减去通货膨胀调整到实际回报后再论支出,那么将钱投资于短期国库券,不会让你赚得多

耶鲁公开课 - 金融市场课程节选