So, investors will have a tendency to try to hide -or people who sell investments will try to channel the good investments to their friends and dump the bad stuff on other people.

所以,投资者倾向于掩盖,或者说是投资产品的销售者会试图,把好的投资产品卖给自己的朋友,而把那些差的留给外人

耶鲁公开课 - 金融市场课程节选