Now I realize, for example, that small-cap stocks are more risky than large-cap stocks.
笔者认为，小盘股其实比大盘股更具风险的。
These might include the difference in returns between small-cap and large-cap stocks (fund managers tend to favour the former) or the level of credit spreads and so on.
大盘股同小盘股的回报差(基金经理比较喜欢前者)、息差水平等都是研究对象。
Then as you move out to the equity markets where it's harder to price things as efficiently--large-cap stocks -there are two-fold percentage points,first to third quartile.
如果你转而观察,难以有效定价的市场,比如大盘股,第一和第三个四分位数相差2个百分点
When gold was up by more than 20% over a five-year period, the median return from large-cap American stocks in the same era was just 2.1%.
当金价在5年内增长超过20%，美国大盘股的同期中位回报只有2.1%。
When gold was up by more than 20% over a five-year period, the median return from large-cap American stocks in the same era was just 2.1%.
当金价在5年内增长超过20%，美国大盘股的同期中位回报只有2.1%。
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