So,after taking into account the market impact, and the commissions,and the fees, this zero-sum game becomes a negative-sum game.

所以,考虑到市场冲击,佣金,规费,这一零和博弈变成了负和博弈

耶鲁公开课 - 金融市场课程节选

Can you tell us about tuition fees in America?

你能告诉我们美国学费的情况吗？

去美国留学 - SpeakingMax英语口语达人

As a matter of fact, it costs an increasing amount to play the game when you look at the fees that are paid to investment managers and hedge funds.

事实上,当把付给投资经理,和对冲基金的费用都算进去的话,这个博弈的成本越来越高

耶鲁公开课 - 金融市场课程节选

So they're very low fees.

所以，他们的费用很低。

麻省理工公开课 - 计算机科学及编程导论课程节选

What do you think about subsidizing tuition fees?

你怎么看学费补助？

对于奖学金制度 - SpeakingMax英语口语达人

So that staggering amount of money then impairs the fund managers' ability to continue generating excellent returns, but they can stay in business and collect the fees that they get for having this huge pile of money.

于是这巨额的资金,会削弱基金经理,持续创造高收益的能力,但经理们依旧能保住饭碗,一如既往地从巨额资金中获得佣金

耶鲁公开课 - 金融市场课程节选

John Moody died in the 1950s, but after he died, Moody's and Standard & Poor did something that Moody would not have approved of -they started accepting fees from the people they rate; some people think that you shouldn't do that.

约翰·穆迪在20世纪50年代去世,他死后,穆迪公司和标准普尔做了一些,穆迪绝对不会允许的事情...,他们开始接受被评级者所缴纳的费用,有些人认为不应该这样做

耶鲁公开课 - 金融市场课程节选

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

耶鲁公开课 - 金融市场课程节选