You would minimize your losses; you'd get 0 or -1 instead of -3 or 1.
你能最小化你的损失,你得到0 -1而不是-3 1
And here d, of course, can take the values from plus three down to minus three.
而d层,当然,能够包括从+3到-3的所有值。
This is incredibly important because,when you look at this number that we started out with,saying the benchmark was 9.9 but net of fees the managers on average only lost thirty basis points--or .3% -you'd say,well that's a game I don't mind playing.
这极其重要,因为当你看这些数字时,刚才说过基准收益是9.9%,但是主动管理型基金经理人的平均净利润,只落后了30个基点或者说0.3%,你可能会说这个游戏,我不介意玩一玩
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