Don't overestimate long-term stock-market returns.

不要高估长期股市回报。

youdao

They were willing to take risks to get stock-market returns.

他们愿意为获得股市回报而冒险。

youdao

The paper notes that stock market returns drive much of the manager’s income.

证券市场通过高薪激励经理。

youdao

Or are you going to manage each individual asset class actively, trying to beat the market and generate risk-adjusted excess returns?

还是积极管理每项资产,力求获得市场水平以上的回报率,以及风险调整后的超额收益

耶鲁公开课 - 金融市场课程节选

So there's not a lot of room in the government bond market or other high-quality bond markets to generate excess returns.

所以对于政府债券或者优质债券,超额收益的空间不大

耶鲁公开课 - 金融市场课程节选

Well, it can only be true if security selection and market timing detract from institutional returns or individual returns in the aggregate.

唯一的可能性就是证券选择,和市场时机选择,给机构和个人带来的是负的回报

耶鲁公开课 - 金融市场课程节选

Consequently, over the long run the system can only pay low, inadequate, below-market returns and benefits.

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With either of these options an investor comes much closer to realizing the actual market returns.

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Put another way, to take issue with market returns is like arguing against the speed limit.

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