The difference between the average return for colleges and universities and Yale's returns has added $14.4 billion dollars to the University's coffers.

其他高校的平均收益率,与耶鲁的收益率的差距,为耶鲁财政增加了144亿美元

耶鲁公开课 - 金融市场课程节选

So if earnings go up a lot, we'll raise our dividends, but only part of the way up.

所以若收益大幅提高,我们会增加分红,但增量有限

耶鲁公开课 - 金融市场课程节选

You'd have a higher expected return with no more variance.

你的预期收益率提高了，但风险没有增加。

耶鲁公开课 - 金融市场课程节选