2015考研英语阅读集中练Are They Worth It
<p> <span word="Are">Are</span> <span word="They">They</span> <span word="Worth">Worth</span> <span word="It">It</span>?</p><p> <span word="Worth">Worth</span> <span word="a">a</span> <span word="Lot">Lot</span>, <span word="but">but</span> <span word="Are">Are</span> <span word="They">They</span> <span word="Worth">Worth</span> <span word="It">It</span>?</p><p> <span word="When">When</span> <span word="Institutional">Institutional</span> <span word="Investor">Investor</span> <span word="s">s</span> <span word="Alpha">Alpha</span> <span word="magazine">magazine</span> <span word="released">released</span> <span word="its">its</span> <span word="annual">annual</span> <span word="list">list</span> <span word="of">of</span> <span word="the">the</span> <span word="highest">highest</span> <span word="paid">paid</span> <span word="hedge">hedge</span> <span word="fund">fund</span> <span word="managers">managers</span> <span word="last">last</span> <span word="month">month</span>, <span word="it">it</span> <span word="allowed">allowed</span> <span word="the">the</span> <span word="rest">rest</span> <span word="of">of</span> <span word="us">us</span> <span word="to">to</span> <span word="play">play</span> <span word="an">an</span> <span word="entertaining">entertaining</span> <span word="little">little</span> <span word="parlor">parlor</span> <span word="game">game</span>: <span word="what">what</span> <span word="could">could</span> <span word="you">you</span> <span word="buy">buy</span> <span word="if">if</span> <span word="you">you</span> <span word="made">made</span> <span word="as">as</span> <span word="much">much</span> <span word="money">money</span> <span word="as">as</span> <span word="those">those</span> <span word="guys">guys</span>?</p><p> <span word="James">James</span> <span word="Simons">Simons</span>, <span word="a">a</span> 69-<span word="year">year</span>-<span word="old">old</span> <span word="mathematician">mathematician</span> <span word="who">who</span> <span word="was">was</span> <span word="at">at</span> <span word="the">the</span> <span word="top">top</span> <span word="of">of</span> <span word="the">the</span> <span word="list">list</span>, <span word="earned">earned</span> $1.7 <span word="billion">billion</span>, <span word="which">which</span> <span word="equaled">equaled</span> <span word="the">the</span> <span word="amount">amount</span> <span word="of">of</span> <span word="money">money</span> <span word="that">that</span> <span word="the">the</span> <span word="federal">federal</span> <span word="government">government</span> <span word="spent">spent</span> <span word="last">last</span> <span word="year">year</span> <span word="running">running</span> <span word="its">its</span> <span word="vast">vast</span> <span word="network">network</span> <span word="of">of</span> <span word="national">national</span> <span word="parks">parks</span>. <span word="Down">Down</span> <span word="at">at</span> <span word="No">No</span>. 3 <span word="on">on</span> <span word="the">the</span> <span word="list">list</span>, <span word="Edward">Edward</span> <span word="S">S</span>. <span word="Lampert">Lampert</span> <span word="of">of</span> <span word="Greenwich">Greenwich</span>, <span word="Conn">Conn</span>.; <span word="the">the</span> <span word="investor">investor</span> <span word="who">who</span> <span word="owns">owns</span> <span word="a">a</span> <span word="large">large</span> <span word="chunk">chunk</span> <span word="of">of</span> <span word="Sears">Sears</span>, <span word="made">made</span> $1.3 <span word="billion">billion</span>, <span word="which">which</span>, <span word="if">if</span> <span word="you">you</span> <span word="forget">forget</span> <span word="about">about</span> <span word="taxes">taxes</span>, <span word="would">would</span> <span word="have">have</span> <span word="allowed">allowed</span> <span word="him">him</span> <span word="to">to</span> <span word="buy">buy</span> <span word="the">the</span> <span word="entire">entire</span> <span word="economic">economic</span> <span word="output">output</span> <span word="of">of</span> <span word="Sierra">Sierra</span> <span word="Leone">Leone</span>. <span word="We">We</span> <span word="re">re</span> <span word="talking">talking</span> <span word="about">about</span> <span word="real">real</span> <span word="money">money</span> <span word="here">here</span>.</p><p> <span word="Today">Today</span>, <span word="Alpha">Alpha</span> <span word="magazine">magazine</span> <span word="will">will</span> <span word="release">release</span> <span word="another">another</span> <span word="big">big</span> <span word="list">list</span>; <span word="and">and</span> <span word="this">this</span> <span word="one">one</span> <span word="offers">offers</span> <span word="a">a</span> <span word="chance">chance</span> <span word="to">to</span> <span word="answer">answer</span> <span word="another">another</span>, <span word="arguably">arguably</span> <span word="more">more</span> <span word="important">important</span>, <span word="question">question</span>: <span word="Are">Are</span> <span word="these">these</span> <span word="billionaire">billionaire</span> <span word="hedge">hedge</span> <span word="fund">fund</span> <span word="managers">managers</span> <span word="really">really</span> <span word="worth">worth</span> <span word="it">it</span>?</p><p> <span word="The">The</span> <span word="reason">reason</span> <span word="hedge">hedge</span> <span word="funds">funds</span> <span word="are">are</span> <span word="a">a</span> <span word="license">license</span> <span word="to">to</span> <span word="print">print</span> <span word="money">money</span> <span word="is">is</span> <span word="their">their</span> <span word="fee">fee</span> <span word="structure">structure</span>. <span word="A">A</span> <span word="typical">typical</span> <span word="fund">fund</span> <span word="charges">charges</span> <span word="a">a</span> 2 <span word="percent">percent</span> <span word="management">management</span> <span word="fee">fee</span>, <span word="which">which</span> <span word="means">means</span> <span word="that">that</span> <span word="it">it</span> <span word="keeps">keeps</span> 2 <span word="cents">cents</span> <span word="of">of</span> <span word="every">every</span> <span word="dollar">dollar</span> <span word="that">that</span> <span word="it">it</span> <span word="manages">manages</span>, <span word="regardless">regardless</span> <span word="of">of</span> <span word="performance">performance</span>. <span word="Mutual">Mutual</span> <span word="funds">funds</span>, <span word="on">on</span> <span word="average">average</span>, <span word="charge">charge</span> <span word="about">about</span> 1 <span word="percent">percent</span>.</p><p> <span word="On">On</span> <span word="top">top</span> <span word="of">of</span> <span word="the">the</span> <span word="management">management</span> <span word="fee">fee</span>, <span word="hedge">hedge</span> <span word="funds">funds</span> <span word="also">also</span> <span word="take">take</span> <span word="a">a</span> <span word="big">big</span> <span word="cut">cut</span>-<span word="usually">usually</span> <span word="at">at</span> <span word="least">least</span> 20 <span word="percent">percent</span>-<span word="of">of</span> <span word="any">any</span> <span word="profits">profits</span> <span word="that">that</span> <span word="exceed">exceed</span> <span word="a">a</span> <span word="predetermined">predetermined</span> <span word="benchmark">benchmark</span>.</p>
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