General Electric ironically was started right after the Great Deleveraging of 1873 that was the bubble before the depression that was just like this one.

通用电气则恰好是在1873年,对冲基金拆仓后产生的,而那正是萧条来临前的泡沫时期。

斯坦福公开课 - 微软CEO-Steve.Ballmer谈科技的未来课程节选

Alternatively, if I went back to the office and took Yale's $22.5 billion dollars and decided that I was going to day trade bond futures, security selection wouldn't have anything to say about the returns; asset allocation wouldn't have anything to say about the returns.

或者,如果我回到办公室,把耶鲁的225亿美元,投资于即日平仓的债券期货,在这种情况下,证券选择不会影响回报率,资产配置也不会影响回报率

耶鲁公开课 - 金融市场课程节选