Firms that do that are, in practice, however, the minority and most mutual funds have some gimmick or some special-- they claim to be beating the market not forming the optimal portfolio.

然而实际上,这么做的公司很少,大部分共同基金都会耍些花招,或有一些特别的...,他们强调他们的收益率将强于市场平均水平,而非建立最佳投资组合

耶鲁公开课 - 金融市场课程节选

My favorite way to measure the results is actually to compare what Yale achieved with what we would have had if we would have just experienced average returns over the past twenty years.

在衡量成绩时,我喜欢的做法是,将过去20年耶鲁模式下获得的资产,与市场平均收益率计算的资产,进行比较

耶鲁公开课 - 金融市场课程节选