In fact, the assets that the Norwegian Government owns is about two-thirds oil and one-third government pension fund assets.
实际上,挪威政府所持有的资产中,大概有三分之二的石油,和三分之一的政府养老基金。
Long-term Capital Management was a big hedge fund that failed in 1998 and got bailed out by the Fed.
长期资本管理公司,是一个1998年失败了的对冲基金8,并且被美联储保释了。
with fellow Princetonian and former Senate Majority Leader Bill Frist, who had appeared on our program earlier, as co-chair of the Clinton-Bush Haiti Fund.
他和兼任普林斯顿校友及,前参议院多数派领袖比尔·弗斯特,他之前也曾经出现在我们节目上,共同担任,克林顿-布什海地基金会主席。
John? -You know I'm not gonna forecast ... either of those right now. -You are not gonna... I have the Taylor rule on the line with respect to the Federal fund's rate.
约翰呢?,-我现在不会,对这个做任何预测,-你不打算。,网上有泰勒规则啊,根据它能算出联邦基金利率。
If you're a hedge fund, you're not for the public -you're not approved for investing by the public.
对冲基金并不面向公众,无法获得面向公众募资的权利
These names sound safe -High Grade, Enhanced -but they both collapsed and became leveraged fund.
这俩名字听着多有安全感,高级,增强,但两者最后都崩溃了,变成了杠杆资金
I'm going to the Russian Stabilization Fund in-- I think I've got an arrangement to meet with them in Moscow in March-- that would be during the semester.
我还要去俄罗斯平准基金一趟-,我想我跟他们已经就,三月在莫斯科会面达成了共识-,就是这个学期的事情。
All of a sudden the underperforming fund's record disappears and the assets are in a fund that has a better record -a record that you can actually market.
于是运作不佳的基金消失了,改头换面以优异基金的形式出现,其优良的记录可以用来做基金销售的依据
But if you look at the tech fund category, the difference between the dollar-weighted and the time-weighted returns--this is over a ten-year period -is 13.4% per annum; that's stunning.
但是如果你关注科技投资基金,十年间,货币加权回报率,和时间加权回报率间的差距,是每年13.4%,这是非常夸张的
Well, that leakage--that 1.5% or 2% that you pay your hedge fund manager- plus the 20% of profits really reduces the amount of return that's available for the owners of capital.
系统的损耗,大约1.5%或2%的管理费率,用来支付给对冲基金经理,加上20%的利润提成,显著减少了资本所有者,可以得到的回报
What most people are doing when they go into a mutual fund is they're trying to find smart people who will beat the market-- who will pick those stocks that will do well.
大多数人投资共同基金,实际是在寻找聪明之辈,来帮助他们获取更高收益率...,来挑选表现最为优异的股票
Compound that 13.4% over ten years and there's just an enormous gap between those mutual fund numbers that are in the prospectus and in the advertisement--the time-weighted returns and the dollar-weighted returns that talk about the actual experience of the investment community.
按13.4%复利算一下10年期的结果,你会发现在招股说明书和广告里给出的,用来反映投资机构实际业绩水平的,时间加权回报率,和货币加权回报率数字之间,有着巨大的差异
Now, there are different kinds of hedge funds -there's a lot of legal complexity here but a 3c1 hedge fund is limited to ninety-nine investors.
如今有各种各样的对冲基金,...其中牵涉了许多复杂的法律条文,比如3C1对冲基金,投资人数上限为99人
A guy named Seth Klarman, who works at a fund in Boston called Baupost, said that what he does is worries top-down and invests bottom-up.
他叫塞斯·克拉曼,在波士顿的Baupost基金工作,他说他的工作就是自上而下地担心,自下而上地投资
It will be about the securities market line, about the beta, about the mutual fund theorem, and it will also be about institutions that we have--about investment companies and their management.
证券市场的风险线,beta系数,共同基金定律,还有当下的一些金融机构,包括投资公司,以及他们的管理
The second person I have set up now to come-- although the date on the syllabus online is going to be changed--is Andrew Redleaf, who is also a Yale graduate and who set up a hedge fund called Whitebox Advisors.
我邀请的第二位客座嘉宾,也许网上教学大纲的日期,会有所变动...是安德鲁·雷德利夫,他也是一位耶鲁的毕业生,他创设了Whitebox Advisors对冲基金
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