来自《耶鲁大学开放课程：金融市场 第9集 第9集》
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in the financial markets is最为普遍的问题 -
investment with too short a time horizon.就是投资期限太短 -
The fact that people look at quarterly returns of mutual funds只关注基金的季度收益率 -
is incredibly dysfunctional.是相当不妥当的的 -
I mean,there's no way that我的意思是 你无法 -
you can expect somebody quarter in and quarter out靠只持续了一季度的投资 -
or month in and month out to produce superior returns.或月进月出的方式来获得巨额收益 -
There just aren't pricing anomalies that are significant显著失常的定价 -
that are going to resolve themselves不会在短短几月或几周内 -
in a matter of months or weeks就在市场中显示出来 -
and so it's a silly game to play.因此类似月进月出那些是一种愚蠢的行为 -
By extending your time horizon to three years,只有通过将投资延长至三年