来自《耶鲁大学开放课程：金融理论 第1集 第1集》

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  because firms only did better or worse by luck,
  因为公司只是凭运气盈利或是亏损
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  but that's not right either.
  但那也不正确
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  So you're going to know how to answer that question by the end
  所以你在学完本门课程之后就会知道
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  of the class.
  如何回答这些问题
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  One last one, the Yale endowment over the
  再来最后一个 耶鲁所得的捐款在
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  last fifteen years has gotten something like a fifteen percent
  最近的十五年的年收益率大概是
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  annualized return.
  每年15%
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  A hedge fund, that I won't name,
  某个对冲基金
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  has gotten eleven percent over the last fifteen years counting
  在考虑所有亏损和一切其他条件下
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  all its losses and stuff like that.
  都以每年11%的速率盈利
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  So is it obvious that the Yale endowment has done better than
  那么是否可以认为耶鲁捐款比对冲基金
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  the hedge fund?
  做的更好