After I wrote the book, Morningstar did a much more comprehensive study of every single one of the equity categories that they follow.

在我写完这本书之后,晨星公司对他们跟踪研究的每种股权资产,做了更进一步的研究

耶鲁公开课 - 金融市场课程节选

The Morningstar study is incredibly damning in terms of the market timing abilities of individual investors.

晨星公司这一研究结果,谴责了个体投资者的市场时机选择能力

耶鲁公开课 - 金融市场课程节选

The gap in what Morningstar calls the "Conservative allocation fund" is 0.3% per year.

在晨星公司所称的"保守配置型基金"中,每年大约存在0.3%的缺口

耶鲁公开课 - 金融市场课程节选