如果你进行长线投资，存在股权偏好是合理的，那么从长期看，股票是上涨的。

If you're investing with a long time horizon, having an equity bias makes sense, stocks go up in the long run.

youdao

大摩已经占有中金公司34%的股权，它也是去年最大的股票承销商。但它的业务主要是消极业务。

Morgan Stanley has a 34% stake in China International Capital Corp, which was the top share underwriter last year, but it is a passive one.

youdao

大约一半的股权部分是日本股票；其他的30%由美国和德国的股票构成。

Around half of the equity portion was in Japanese shares; another 30% consisted of American and German ones.

youdao

If you're investing with a long time horizon, having an equity bias makes sense; stocks go up in the long run.

如果进行长线投资,且存在股权偏好,那么从长期看,股票是上涨的

耶鲁公开课 - 金融市场课程节选