That's the only time since World War II that we've had a higher level of residential investment.

如此巨额的住宅投资,自二战以来只出现过一次

耶鲁公开课 - 金融市场课程节选

I mean,there's no way that you can expect somebody quarter in and quarter out or month in and month out to produce superior returns.

我的意思是,你无法,靠只持续了一季度的投资,或月进月出的方式来获得巨额收益

耶鲁公开课 - 金融市场课程节选

That's an incredibly important distinction because, think about it,if what you want to do is get rich, you can put together a reasonable investment record and then raise staggering amounts of money.

这点非常重要,仔细想想,如果你只想着赚钱,你可以拼凑一份合理出色的投资记录,然后募集到巨额资金

耶鲁公开课 - 金融市场课程节选

You want to spend your time and energy pursuing the most inefficiently priced asset classes because there's an enormous reward for identifying the top quartile venture capitalist and almost no reward for being in the top quartile of the high- quality bond universe.

你应该投入所有的时间和精力,去追逐最不能有效定价的资产,因为在那里才能通过一流的风投经理人,获得巨额的投资回报,而在债券市场,即使债券优质,经理人一流,回报微乎甚微

耶鲁公开课 - 金融市场课程节选