I think one of the most pervasive problems in the financial markets is investment with too short a time horizon.
我认为金融市场上,最为普遍的问题,就是投资期限太短
Suppose the other guy didn't exist, Suppose Pepsi didn't exist, so Coke has the whole market, then we would solve out this problem.
假设对手不存在,假设百事可乐不存在,那么可口可乐占领整个市场,然后我们就可以解决这个问题
The problem is even more severe when you're looking at mutual funds because there's kind of a cynical game that mutual fund management companies play.
当你去观察基金市场,会发现问题更严重,因为基金管理公司,会玩一个偷梁换柱的把戏
We'll talk a lot about marketing and what government can and can't do about it.
我们以后会谈到很多有关市场营销的问题,以及政府对此应该采取的各项举措
I think that the question is whether markets are more apt to overprice versus underprice.
我认为这个问题是关于市场,究竟是被高估或者低估的状态。
One question that comes up is that maybe-- this is for the U.S. data-- and some people say, well, maybe, why are we looking at the U.S.?
这又产生了一个新问题,这是采用美国市场的数据得出的结果,有些人会问,为什么光研究美国市场呢
So here's the other issue, there's a price in this market, we might want to think of as the kind of focal price as an interesting price, and that's the price at which, the price I would choose were I the monopolist.
另外一个问题是,市场中有一个价格,可以理解为一种焦点价格,一个有趣的价格,这个价格是,我作为垄断企业时所选择的价格
The only other thing--then next period we're going to talk-- on Friday we're meeting again and we're meeting again about-- this time it's about efficient markets and I want to talk about the evidence for efficient markets and against it and that will lead you into your third problem set about efficient markets.
下节课的主题是,我们将在周五的课上讨论,有效市场问题,我要讨论关于支持和反对,有效市场的证据,那时你们可以开始做,第三本习题集,是关于有效市场的
The question was whether we were looking to take more short positions as the economy appears to be moving into recession and I guess the second part of the question was how do you remain bullish in this kind of environment.
问题是,在经济表现出走向衰退时,我们是否会做更多空头,我想这个问题的另一面就是,在那种情况下如何保持市场信心
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