NO.PZ2018062002000189
问题如下：
Information-motivated traders are most likely to differ from pure investors in that they:
选项：
A.expect to earn excess returns
pay lower transaction fees
hold well-diversified portfolios
解释：
Information-motivated traders expect to earn returns in excess of market returns because they trade on securities they believe the market has over-or undervalued.
Unlike pure investors, they expect to earn a return on their information in addition to the normal return expected for bearing risk. Excess returns are generated when the market recognizes and corrects the valuation error on such a security.
Excess returns are generated when the market recognizes and corrects the valuation error on such a security.
上面说investors的超额收益是在“ the market recognizes and corrects the valuation error on such a security.”的时候产生的。
请问这句话怎么理解？
