In a sense, efficient markets would require that everybody -every analyst rushes out and completes Eric Lee's study.
在某种意义上,有效市场需要所有人,所有分析员一起去完成埃里克·李的研究
It's not like what you would find in Europe where people just go to buy their vegetables.
它和欧洲的市场不一样,在那儿人们只是去买蔬菜。
But what I'm assigning to you is the second edition, which came out in 2005, pretty much at the peak of the housing market.
但是我指定你们去读的,是2005年出的第二版,那时候房地产市场正位于高点
I forget who--it may have been Charles Seller who said if you want to see the Market Revolution happening go study the Archives of the U.S. Patent Office.
我忘了是谁说的,大概是查尔斯.塞勒,他说,若你想看看市场革命是怎么发生的,就去研究美国专利局的档案吧
We got lost once. We were trying to go to Spitalfields Market,
我们迷过一次路。我们想去斯毕塔菲尔德市场,
Let's go to the farmer's market.
我们一起去农贸市场吧!
So this is really the first attempt, way back in the nineteenth century to study a market that's somewhere in the middle, where it happens most markets are there are two firms.
因此这就是它的第一个诱人之处,我们要回到十九世纪,去研究一个介于两者之间的市场,那个年代大多数市场都只有两家公司
When you go to Rome, you can walk and see what's left of their stock market.
如果你去罗马的话,可以去看看当时证券市场的遗迹
In many cases that is not the right way to think about futures prices, but there are very important futures markets that--In the next lecture I want to talk about the various kinds of futures markets that matter.
在许多情况下,我们不应该去,分析期货价格,但我们的期货交易市场很重要...,下节课我会讲,各种不同的期货交易市场
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
The idea was that they would help advance the mortgage market by buying up mortgages from mortgage originators and therefore allowing them to make more mortgages.
其主旨就是通过,从抵押贷款的原始权益人手中,购买这些债权来促进市场的发展,那些原始权益人就可以去放更多的贷款
And when I go to the A-1 Toyota for my service or to buy my new Camry, which I've done every four years for the last two decades, I don't always think of a slave market but it does occur to me that--.
当我去丰田A1店,接受服务或购买我的新佳美的时候,过去二十年中我每四年都会去一次,我不是总会联想到奴隶市场,但我确实曾经那么想过
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