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人人影视
I said I have some doubts about it. I guess I don't--

我心存异议我想...
I guess what I don't like is their concluding statement,

我不喜欢的是他们的总结陈述
"Security prices reflect the true underlying value of assets."

"证券的价格能反映对应资产的内在价值"
I don't think that's really true but I guess I agree,

我并不完全同意这一观点但是我同意
it's tough to make money reliably and quickly in financial markets.

想在金融市场中安稳地做暴发户是很难的
So, if that's what efficient markets means,

如果这就是有效市场意义所在
they're right.

那他们是对的
"Efficient markets" is not so easy to define.

有效市场是很难定义的
We can go back to--the term really goes back to 1967

这个术语的历史可以追溯到1967年
and it was Professor Harry Roberts at University of Chicago

当时芝加哥大学的哈里·罗伯茨教授
who defined three different efficient markets hypotheses.

定义了有效市场假说的三种不同形态