From the truism that the average investor could not beat the market after costs, academics developed the insight that obvious market-beating opportunities would quickly be arbitraged away.
老生常谈是，由于后续成本存在，普通投资者无法击败市场。研究机构由此得出观点，明显的击败市场的机会将很快会被套利耗尽。
The overall portfolio delivered an annual return of 11.8% over the ten years to 2009, easily beating the average endowment.
而截至2009年的十多年来，耶鲁每年的总业务回报率也是高居11.8%，轻而易举地扳倒了捐赠基金的平均收益。
The global surface temperature is projected to be 0.54c above the long-term average of 14c, beating the current record of 0.52c, which was set in 1998.
2007年全球地表温度预计比长期平均值14摄氏度高出0.54摄氏度，将超过1998年创下的0.52摄氏度的纪录。
But beating the average was not enough.
但是仅仅超过平均水平是不够的。
The organ works ceaselessly, beating 100, 000 times a day, 40 million times a year—in total clocking up three billion heartbeats over an average lifetime.
心脏不停的工作着，每天跳动100,000次，每年4千万次——总计平均达到30亿次心跳。
The country boasts a 90 percent cure rate for uncomplicated tuberculosis and cures 75 percent of its drug-resistant cases, easily beating the global average, 50 percent.
该国不复杂的结核病病例治愈率高达90%，耐药病例的治愈率也达到75%，轻松超过了50%的全球平均水平。
The country boasts a 90 percent cure rate for uncomplicated tuberculosis and cures 75 percent of its drug-resistant cases, easily beating the global average, 50 percent.
该国不复杂的结核病病例治愈率高达90%，耐药病例的治愈率也达到75%，轻松超过了50%的全球平均水平。
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