可是结果是，所有这些美梦都有缺陷—它们都逃不开股市表现的统治。

But as it turns out, all of these dreams have drawbacks-and none of them escapes the tyranny of the equity market.

youdao

首先，过去这十年，对于创造和维持财富起到关键作用的股市表现惨淡。

For a start, this decade has so far seen a dismal performance by the stockmarket, which plays a crucial role in creating and maintaining wealth.

youdao

A managed portfolio, you find somebody you think is really smart and you pay them a fair amount of money and in return they assert that they will pick winners for you, and in fact, you will outperform the stock market.

而代管投资组合就是说，你找一个你觉得很聪明的人,给他们一些钱,然后他们会说一定会帮你选出,赚钱的股票，实际上你会比股市整体表现要好。

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