For example, I don't have more space to write, if this is time and this is earnings-- if your earnings were,say, flat and suddenly increased like that, they wouldn't believe this increase at first, so the board would decide to adjust only, say, half way up.

例如,没地方写了,横轴是时间,纵轴是收益,如果你的收益,一直平稳,突然间提高,他们刚开始不敢相信这种增长,董事们决定只小幅增加,如增到一半

耶鲁公开课 - 金融市场课程节选

They're supposed to be like a pass through vehicle -they're owning real estate on your behalf, so they shouldn't be retaining earnings.

房地产投资信托基金应是投资中介,它代表你持有房地产,所以不应该留存利润

耶鲁公开课 - 金融市场课程节选

You will be--you are entitled to receiving the dividends that are paid out of earnings for the rest of your life and you can give it to your children and maybe in two hundred years from now it'll be worth a lot; probably not, but it might be.

你此后会一直收到,从收益中分出来的股利,你可以把它给你的孩子,也许200年后会变得非常值钱,也可能不值钱,但还是可能值钱的

耶鲁公开课 - 金融市场课程节选