A managed portfolio, you find somebody you think is really smart and you pay them a fair amount of money and in return they assert that they will pick winners for you, and in fact, you will outperform the stock market.

而代管投资组合就是说，你找一个你觉得很聪明的人,给他们一些钱,然后他们会说一定会帮你选出,赚钱的股票，实际上你会比股市整体表现要好。

麻省理工公开课 - 计算机科学及编程导论课程节选

So another parallel is people talk about these highly intelligent people from whom the President that surrounded himself, erh, FDR surrounded himself with highly intelligent people, that is no guarantee of anything, except brilliant rationalization for failures in some cases.

所以从另一个方面说,人们总在谈论这些,聪明的人,总统身边的，呃，罗斯福身边,就有高智商的人，但那保证不了什么，他们只能为失败,找到托词。

斯坦福公开课 - 经济学课程节选