There's a very important phenomenon that you need to take into account when you look at these histories of returns that are generated by active managers.

当查阅这些主动管理型基金经理,留下的历史收益记录时,有个很重要的现象

耶鲁公开课 - 金融市场课程节选

So let's make it clear--let's make it unambiguous-- people who are on boards or are managers of these companies, they can give their personal money to charities but they themselves are obligated to make money.

让我们解释清楚一些,董事会就是公司的管理层,他们可以将自己的私人财产捐献给慈善机构,但是他们本身的责任,就是一心赚钱

耶鲁公开课 - 金融市场课程节选