You have closed end funds, trade as a security listed on the stock exchange, but what they do is own other securities.

假如你持有封闭式基金，这种基金在证券交易所作为一种债券进行交易，但是实际上它们做的是持有其他债券。

耶鲁公开课 - 金融市场课程节选

Well, those hedge funds charge enormously more than what a standard manager of marketable securities' charges.

那些对冲基金经理的收费,远比证券投资经理的收费高

耶鲁公开课 - 金融市场课程节选

I want to say one more thing about the diversification and the mutual fund.

我想谈谈,证券业多元化和共同基金

耶鲁公开课 - 金融市场课程节选

They found, not surprisingly, that it tends to--mutual funds have been growing more rapidly in countries that have stronger securities laws and institutions, especially laws that protect individual shareholders rights.

他们发现,那些共同基金发展较迅速的国家,都拥有比较健全的证券法规和完善的证券制度,其中保护个人股东权利的法律尤为完善

耶鲁公开课 - 金融市场课程节选

It will be about the securities market line, about the beta, about the mutual fund theorem, and it will also be about institutions that we have--about investment companies and their management.

证券市场的风险线,beta系数,共同基金定律,还有当下的一些金融机构,包括投资公司,以及他们的管理

耶鲁公开课 - 金融市场课程节选