来自《耶鲁大学开放课程：金融理论 第5集 第5集》

• 
  
  So Fisher says, "People have foresight.
  费雪说 人们都是有远见的
• 
  
  They're anticipating what the dividends are going to be.
  他们预估股息会是怎样的
• 
  
  They understand that you can talk about how beautiful the
  不管人们怎么谈论苹果树是多么美丽
• 
  
  tree is, and how much you like the
  主人是多么善良
• 
  
  owners, and how much they're watering it,
  浇灌的多么用心
• 
  
  and whether they have a good plan for irrigation,
  灌溉的是多么的有计划组织
• 
  
  and whether they did well in college and stuff like that,
  采摘的多么及时
• 
  
  but in the end all you care about the trees is how many
  最后你最关心的问题还是
• 
  
  apples they're going to produce.
  树为我生产了多少苹果
• 
  
  So knowing that, can we say something about
  据此我们能不能找到 πα 和 πβ
• 
  
  pi_alpha pi alpha versus pi_beta?
  之间的什么联系
• 
  
  In equilibrium what's going to have to happen?
  平衡要怎么满足