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
which is basically an extensive number of classes that everybody has to take if you're in Columbia College,
基本包含了大量的课,而且每个哥伦比亚的学生都要上,
If you use a navy, your state will be a democracy in which the lower classes are dominant.
olitea政体是柏拉图设想的完美政体 如果以海军为主力,那一定是以草根为基础的,民主政体城邦
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