[2008.06.14] The Lo down 业绩下降的罗氏解释

 Hedge funds
对冲基金

The Lo down
业绩下降的罗氏解释

Jun 12th 2008
From The Economist  print edition

THE basic idea behind efficient market theory is that it seems implausible that there are $20 notes lying on pavements waiting to be picked up. It is thus tough for investors to beat the stockmarket average. But the billion-dollar fortunes accumulated by hedge-fund managers (and the outsized fees they charge) imply that not just $20 notes but bulging wallets can be grabbed by those that are smart enough.
有效市场理论(efficient market theory)的一个基本思想是:你不可能在大街上发现20美元钞票等着你去捡。同理,投资者要想击败市场平均指数难之又难。然而对冲基金(hedge fund)经理动辄数十亿美元的身家(及其收取的高额管理费)似乎表明,只要足够聪明,大街上不仅有20美元支票,鼓鼓囊囊的钱包也是比比皆是。

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[2008.05.22] The guys next door 邻家有gay

Gay marriage
同性恋婚姻

The guys next door
邻家有gay

May 22nd 2008 | PALM SPRINGS
From The Economist  print edition
2008年5月22日 | 棕榈泉
摘自《经济学家》印刷版

California’s highest court has revived a bitter dispute over gay marriage. But the fight will be different this time
加州高法再燃同性恋婚姻烽烟,然而战况将有所不同

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