How are managers going to behave in an asset class where things are efficiently priced?

在面对有效定价的资产时,基金经理会怎么做呢

耶鲁公开课 - 金融市场课程节选

The endowment is defined as the financial assets that Yale University owns.

这笔基金是耶鲁大学拥有的,金融资产

耶鲁公开课 - 金融市场课程节选

Then when we look at the statistics, all we see are a lot of assets in the fund that performed well and the underperforming fund that was merged out of existence isn't there anymore.

于是当我们去查阅统计资料时,只能看到资产规模巨大且运作良好的基金,那些运作不佳的基金,随着合并与它的纪录一起消失了

耶鲁公开课 - 金融市场课程节选