But the very, sort of, nature of being an institution constrains almost everybody whether it's, in our case, all our investors have thirty-day liquidity.

但是，投资机构的本质在一定程度上束缚了,它所处市场里的每一个人，在我们的案例中，我们所有的投资者都拥有强大的现金流。

耶鲁公开课 - 金融市场课程节选

Moreover, very significantly, they are limited in what kind of investors they can take.

而且,更值得注意的是,他们连选择投资者的权利都受到限制

耶鲁公开课 - 金融市场课程节选

Now many of us are not investors or at least would like to avoid investing with myself included But in the most, this is the most ubiquitous economic decision out there.

我们中许多人都不是投资者,或至少像我一样不想涉及到投资行业里面,但在大多数情况下，这却是经济决策中最普遍的。

斯坦福公开课 - 7个颠覆你思想的演讲课程节选

Systematically, investors are buying after things have gone up, selling after they've gone down, and the problem is most severe in those funds that show the greatest volatility.

投资者都一窝蜂似的,上涨之后才买进,下跌之后才卖出,对于波动最大的那些基金,问题更严重

耶鲁公开课 - 金融市场课程节选

It's a difficult problem that not everyone is smart -they vary in their ability -so we try to make a world in which it's pretty safe for the small investor who's not paying attention.

不是所有人都是聪明人,这是个难题,大家能力不同,所以我们试图营造一个环境,一个让小投资者感到安全的环境,而无需忧心忡忡

耶鲁公开课 - 金融市场课程节选