来自《耶鲁大学开放课程：金融市场第14集第14集》

the total value of the market capitalization of 3Com;

远远超过3Com的总市值
that persisted for a number of years.

这持续了很多年
In general, less volatile stocks have done better

一般说来波动性小的股票
over time than more volatile stocks, which is somewhat

长期内的表现要比波动性大的股票好
inconsistent with the notion of efficient markets.

这就和有效市场理论有出入
Lastly, there is a meaningful number of individuals

还有很大一部分个人投资者
and institutions whose, sort of, performance look

和机构投资者其业绩...
whose performance in portfolios

在投资组合上的业绩
is really inconsistent with the markets being efficient.

与市场有效的理论预测很不相同
It can't really be explained away by some of them can but

很难解释其中一些
by luck or by inside information or by something,

也许是靠运气内部消息或者别的
while there's sort of a big academic debate.

当中就有一些理论上的争议