Well, that leakage--that 1.5% or 2% that you pay your hedge fund manager- plus the 20% of profits really reduces the amount of return that's available for the owners of capital.

系统的损耗,大约1.5%或2%的管理费率,用来支付给对冲基金经理,加上20%的利润提成,显著减少了资本所有者,可以得到的回报

耶鲁公开课 - 金融市场课程节选

It is now, under his leadership, $22.5 billion and that explains a lot of the quality of your life because that means we have about $2 million dollars per student.

在他的管理下,目前基金总计达225亿美元,你们高质量的生活和学习正是得益于此,因为这相当于每个学生能分到2百万美元

耶鲁公开课 - 金融市场课程节选

Roger Ibbotson took a look at a larger group of funds -3,500--funds over a ten-year period and found survivorship bias at 2.9% per year and backfill bias at 4.6% per year.

罗杰·伊博森研究了更大的样本组,3500支基金10年间的表现,算出其生存偏差是每年2.9%,回填偏差是每年4.6%

耶鲁公开课 - 金融市场课程节选