But economic theory struggles to explain the bizarre world of fund management, where the market is fragmented but fees stay stubbornly high.

但是这种经济理论很难解释市场高度分割而费用却居高不下的奇特的基金管理世界。

youdao

There are double Principal-Agent relationship in venture capital fund, so the Principal-Agent theory is suitable for research the game between investor and found management.

风险投资基金中存在着双重委托代理关系，故委托代理理论适用于研究投资人与基金管理人之间的博弈。

youdao

The discount of closed-end fund violates the financial theory and challenges "the Efficient Market Hypothesis", but there is no improved and convinced theory to explain it.

折价现象违背了“有效市场假说”，但至今没有完善、令人信服的理论充分解释。

youdao

The mutual fund theory that we gave last time said, no the mutual fund is just supposed to be diversifying for you.

但上节课讲到的共同基金定理认为,共同基金的目的是分散投资

耶鲁公开课 - 金融市场课程节选

The mutual fund industry is supposedly, and according to theory, doing this for you.

共同基金产业据称，理应为人们完成如上的这些计算。

耶鲁公开课 - 金融市场课程节选

Malkiel was in essence embracing the efficient markets theory that says fund managers as a group cannot outperform the market, so investors who pay big commissions and other management expenses are cheating themselves.

FORBES: About Burton Malkiel

Garbage collectors, if properly coached, can quickly become sophisticated hedge fund investors, the theory goes.

FORBES: City Garbage Collectors Become Sophisticated Hedge Fund Investors

The mutual fund industry (which may well have invented the theory that too much disclosure can be harmful to investors) is arguing that as long as investors know the total expenses they are paying in their 401ks, how those fees are divvied up amongst the plan services providers is irrelevant.

FORBES: "Capping" 401k Revenue Sharing: Record-keepers Block Rebates To Participants (May 19,2008)