I was just yesterday-- I gave a talk in Montreal at the Caisse de Dep?t,et Placement du Quebec, which is the big wealth management fund for the Province of Quebec.

昨天，我刚在蒙特利的魁北克储蓄投资集团,做了一个讲演，这个投资集团是魁北克省的,一所大型财产管理基金机构。

耶鲁公开课 - 金融市场课程节选

Now, I haven't defined mutual fund yet.

现在我还没有给共同基金下一个定义。

耶鲁公开课 - 金融市场课程节选

Then when we look at the statistics, all we see are a lot of assets in the fund that performed well and the underperforming fund that was merged out of existence isn't there anymore.

于是当我们去查阅统计资料时,只能看到资产规模巨大且运作良好的基金,那些运作不佳的基金,随着合并与它的纪录一起消失了

耶鲁公开课 - 金融市场课程节选