Small-cap stocks are tougher to price than large-cap stocks, so there's a 4.7% differential, first to third quartile.

小盘股比大盘股更难定价,第一和第三个四分位数的差距有4.7%

耶鲁公开课 - 金融市场课程节选

Then as you move out to the equity markets where it's harder to price things as efficiently--large-cap stocks -there are two-fold percentage points,first to third quartile.

如果你转而观察,难以有效定价的市场,比如大盘股,第一和第三个四分位数相差2个百分点

耶鲁公开课 - 金融市场课程节选

At some point, when your dollars were turning into dimes, you'd say, forget this, this is ridiculous, it doesn't make any sense for me to own these risky small-cap stocks.

当一块钱变成一毛钱,你会说,得了吧,这太荒谬,持有这些高风险的小盘股,对我而言没什么好处

耶鲁公开课 - 金融市场课程节选