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

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So, he's doing quite well and he has some celebrity status among hedge fund managers.

他可以说是事业有成,并在众多对冲基金经理人中,负有盛名

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As a matter of fact, it costs an increasing amount to play the game when you look at the fees that are paid to investment managers and hedge funds.

事实上,当把付给投资经理,和对冲基金的费用都算进去的话,这个博弈的成本越来越高

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Well, that leakage--that 1.5% or 2% that you pay your hedge fund manager- plus the 20% of profits really reduces the amount of return that's available for the owners of capital.

系统的损耗,大约1.5%或2%的管理费率,用来支付给对冲基金经理,加上20%的利润提成,显著减少了资本所有者,可以得到的回报

耶鲁公开课 - 金融市场课程节选