Just so I get a show of hands: how many people have heard of Roger Bannister? Ok. A handful.
举下手:,多少人听说过他?好的,只有少数。
I don't know. If you've ever seen a movie - well, there are lots of movies that do this; one of the first movies that did this was "Who Killed Roger Rabbit?"
我不知道,如果你们看过那部电影,当然,有很多电影都描写过这一点,其中一部较早的,电影表现了这一手法--《谁谋杀了兔子罗杰》
When I arrived at Harvard, the love I had from Hilary Patner, Roger from John Rose, and Roger Ferson, he was a quicker.
当我来到哈佛的时候,我受到了,很多位老师的关爱,包括。
Roger Bannister said, "It is possible to run in 4 minutes.
他说“四分钟内跑完是可能的。
Roger Ibbotson took a look at a larger group of funds -3,500--funds over a ten-year period and found survivorship bias at 2.9% per year and backfill bias at 4.6% per year.
罗杰·伊博森研究了更大的样本组,3500支基金10年间的表现,算出其生存偏差是每年2.9%,回填偏差是每年4.6%
Another observation?Roger?
还有别的意见吗?,罗杰?
Now, we're going to go back to Roger Ibbotson at the School of Management. He did some path breaking work in terms of describing capital markets returns over reasonably long periods of time.
先讲回到管理学院的罗格·伊博森,所进行的开创性研究,描述了在相当长的时期内,资本市场的收益情况
In the case of Burt Malkiel's data, more than 11% per year and in the case of Roger Ibbotson's data between 7% and 8% per year of those returns can be explained either by backfill bias or survivorship bias.
在伯特·麦基尔的数据中,超过11%的年平均收益,在罗杰·伊博森的数据中,7%到8%的年平均收益,可以用生存偏差或回填偏差来解释
Roger Bannister And the story is of Roger Bannister.
故事讲的是。
Anything else? Roger?
还有什么,罗杰?
But Roger Bannister continued to train and work hard, not harder than the rest of the runners, but as hard as the top runners in the world.
但Roger,Bannister坚持苦练,不比别的跑手练得更苦,但和世上别的跑手一样苦练。
Roger Ibbotson, who is a colleague of Bob Shiller's and mine at the School of Management, has done a fair amount of work, studying the relative importance of these sources of returns.
罗格·伊博森是,我和希勒在管理学院的同事,他在对回报率来源的研究上,做了大量的工作
I went back and took a closer look at Roger Ibbotson's data and there are lots of examples that will illustrate this point, but the most dramatic occurs around the crash in October 1929.
我进一步查看了罗格·伊博森的数据,诸多例子都能说明这一点,但是印象最深刻的,发生于1929年10月的那次股灾
He's come to the conclusion that over 90% of the variability of returns in institutional portfolios is attributable to asset allocation and that's the number that I think most people hear cited when they are looking at Roger Ibbotson's work.
他得出结论,机构投资中,超过90%的回报率变动,要归因于资产配置,我想这是罗格·伊博森的文章里面,被人引用得最多的结论
And on the 6th of May, Roger Bannister does it.
但在五月六日,Roger,Bannister特做到了。
And then came along Roger Bannister.
然后Roger,Bannister出现。
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