那些资产能提供超额回报来作为流动性不足的补偿。

Such assets offered an excess return to compensate investors for their illiquidity.

youdao

一些团队有所专营比如不良债权，当市场有效性不充分时，超额回报可以实现。

Some groups operate in fields like distressed debt, where markets may not be fully efficient and outsize returns could be achievable.

youdao

目前尚无证据表明，西方资本真的在中国获得了大幅超额回报，而中国正在大规模补贴其国内资金成本。

There is no evidence that western capital actually earns a significant excess return in China and China massively subsidizes its domestic cost of capital.

youdao

Or are you going to manage each individual asset class actively, trying to beat the market and generate risk-adjusted excess returns?

还是积极管理每项资产,力求获得市场水平以上的回报率,以及风险调整后的超额收益

耶鲁公开课 - 金融市场课程节选

If an asset class has constituents that are efficiently priced, then it's very hard to generate excess returns.

如果某种资产的构成都是有效定价的,那么就很难产生超额回报

耶鲁公开课 - 金融市场课程节选