来自《耶鲁大学开放课程：金融理论 第12集 第12集》

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  Fisher did.
  费雪思想的聚焦点之一
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  Fisher said, yes, in the real world
  他认为 在现实经济中
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  everybody is thinking to themselves, like generation 1,
  各自为各自着想
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  "I'm young now.
  年轻时候
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  I'm buying the land because when I get old I'll be able to
  购置土地 为的是
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  resell it and I'll also get the dividend."
  年老时出售并得到分红
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  But Fisher has thought ahead.
  费雪更进一步的想
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  Fisher's saying if the guy's going to think about pi_t
  交易者会考虑π-t+1
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  1, that's what he'll be able to
  是出售土地换的的钱
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  sell the land for, and he's going to think about
  还有利息部分
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  the dividend he's going to get, and his rate of return is
  收益率是
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  therefore divided by how much he had to pay for the land today.
  再除以他最初支付的钱