So with that in mind, let's just set the game up.
我们带着这些问题建立这个博弈的模型
And, about a third of a way through that game there was a penalty, So keep at the back of your mind that the real world example that matters here is Portsmouth versus Liverpool this weekend.
大约在比赛进行了三分之一的时候,裁判判罚了一个点球,请大家注意一下,上周发生的事与这一讲有关的是,朴茨茅斯队对利物浦队的比赛
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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