Just by putting money into a broadly diversified portfolio of stocks you would have gotten 3,077 times your money.

仅仅将钱投资于,一个多样化的普通股组合,你就会获得本金的3077倍

耶鲁公开课 - 金融市场课程节选

You have half of your assets in one single asset class: U.S. Common stocks.

你将半数资产,投资于单一类别,美国普通股

耶鲁公开课 - 金融市场课程节选

Turns out that 50% of endowment assets in the mid-1980s were invested in common stocks, 40% of endowment assets were in U.S. Bonds and U.S. Cash, and 10% in a smattering of alternatives.

结论是19世纪80年代中期的捐赠资产,50%用于普通股投资,40%用于美国债券和美元现金投资,10%用于其他投资

耶鲁公开课 - 金融市场课程节选

Incidentally, did I ever--equity equals shares or stock, so when I talk about debt-equity ratio, I'm talking about the ratio of the value of the company's debt to the value of all of its stock.

顺便说下,普通股就是股票,负债权益比就是,就是公司负债价值,除以股票总价值

耶鲁公开课 - 金融市场课程节选

The simplest way to see Modigliani-Miller debt irrelevance is the following: a company--if you wanted to buy a company, you could buy only the shares, or equity.

理解MM负债不相关性的,最简单的方法是这样的,一家公司,如果你想买下一家公司,你可以通过股票,普通股来买

耶鲁公开课 - 金融市场课程节选