Even though most are judged by performance over three-year horizons, their average holding period was about 17 months, and 19% of the managers held the typical stock for one year or less.
尽管大多数人的业绩均以三年为周期进行评判，但他们的平均持股时间约为17个月，其中19%的基金经理一般持股时间仅为一年或更短。
If you were holding 20% cash and wanted to match the 7.4% of the Dow Jones industrials for the fourth quarter, your stock picks needed to return about 9.3% for the period.
第四季度持币20%的情况下，想要和道指的7.4%角力，你同期精选股票的回报就必须要有9.3%。
Figures from societe generale show that the average holding period of a stock on the New York stock Exchange fell from ten years in the 1940s to nine months by last year.
法国兴业银行(societe generale)数据显示，纽约证交所的平均持股时间已从20世纪40年代的10年缩短为去年的9个月。
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