You look at the returns that are reported for hedge funds in aggregate--they're generally 12%,13%,14% per year for the last five or ten years.

看一下过去5到10年间,公报中的对冲基金年平均收益率,普遍来说是12%,13%,14%

耶鲁公开课 - 金融市场课程节选

In every one of those seventeen categories, the dollar-weighted returns were less than the time-weighted returns.

发现这17种基金中的每一种,货币加权回报率,都是低于时间加权回报率的

耶鲁公开课 - 金融市场课程节选

So, in addition to losing $9.9 billion, there were capital gains' distributions of $3.3 billion dollars representing about 24% of the money that was invested.

所以,除了损失的99亿美元以外,基金中的另外33亿美元还是有收益的,占投资金额的24%

耶鲁公开课 - 金融市场课程节选

In Unconventional Success, I did a study of individual behavior in their mutual fund purchases and sales around the collapse of the Internet bubble in March of 2000.

在这本书里,我对2000年3月,网络股暴跌时,共同基金购买,和销售中的个体行为做了研究

耶鲁公开课 - 金融市场课程节选

The hedge fund world is 7.1% first to third quartile, real estate 9.3% per annum, leveraged buyouts 13.7% per annum this is over a ten-year period, so now we're starting to talk about some pretty significant dispersion.

在对冲基金中,这个差距有7.1%,不动产投资中的差距是9.3%,杠杆收购中是每年13.7%,以上都是十年期收益,我们现在谈的是,一些显著的差距

耶鲁公开课 - 金融市场课程节选