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

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

耶鲁公开课 - 金融市场课程节选

If you look at the behavior of groups of active managers and the dispersion of returns, I think it gives you some idea of what the efficiency is with which assets in these individual assets classes are priced.

如果观察一下主动管理型的基金经理们,和他们的投资收益分布,我想它会告诉你一些信息,哪些资产是有效定价

耶鲁公开课 - 金融市场课程节选