So there's not a lot of room in the government bond market or other high-quality bond markets to generate excess returns.

所以对于政府债券或者优质债券,超额收益的空间不大

耶鲁公开课 - 金融市场课程节选

The bond markets,in general, and the high-quality bonds in particular are probably easiest to value.

一般来说,债券市场,尤其是优质债券,可能是最容易定价的

耶鲁公开课 - 金融市场课程节选

You want to spend your time and energy pursuing the most inefficiently priced asset classes because there's an enormous reward for identifying the top quartile venture capitalist and almost no reward for being in the top quartile of the high- quality bond universe.

你应该投入所有的时间和精力,去追逐最不能有效定价的资产,因为在那里才能通过一流的风投经理人,获得巨额的投资回报,而在债券市场,即使债券优质,经理人一流,回报微乎甚微

耶鲁公开课 - 金融市场课程节选