据Fitch数据，投资银行平均持有资本是其非流动性资产的两倍多。

According to Fitch, the average investment bank holds more than twice as much capital as it does illiquid assets.

youdao

琼斯认为，除非股息上升到它们的长期平均水平，否则投资者可能需要降低预期。

Unless dividends rise back toward their long-term averages, Mr. Jones thinks investors may need to lower expectations.

youdao

由于指数是所有投资人的平均回报(收取费用前)，有些管理人能够超过指数回报，而有些则不能。

Because the index represents the average return of all investors before costs, some managers will beat the index while others will underperform.

youdao

There's something else going on besides diversification; diversification means you get the average return.

除了投资多样化外,肯定还有别的因素,投资多样化代表着市场平均收益

耶鲁公开课 - 金融市场课程节选

Firms that do that are, in practice, however, the minority and most mutual funds have some gimmick or some special-- they claim to be beating the market not forming the optimal portfolio.

然而实际上,这么做的公司很少,大部分共同基金都会耍些花招,或有一些特别的...,他们强调他们的收益率将强于市场平均水平,而非建立最佳投资组合

耶鲁公开课 - 金融市场课程节选

As reported contemporaneously in 2000,the number was -3.1% but if you look at the number reported for 2005, because bad records had disappeared and good records had been added, all of a sudden the average experience for that year went up to +1.2%.

000年期的公告中这个数字为负3.1%,但是如果你去查2005年公告的数字,坏记录已经调整而消失,有利的投资记录被加入,转瞬之间,年平均收益升至1.2%

耶鲁公开课 - 金融市场课程节选