The overall conclusions are that, with respect to asset allocation, you want to create an equity-oriented diversified portfolio.

总而言之,在资产配置方面,你要创造一个股权导向的多元化投资组合

耶鲁公开课 - 金融市场课程节选

What we did--the core theoretical framework that we had-- was the mean variance theory, which led us to the capital asset pricing model.

我们讲到了投资组合多元化的核心理论框架,即均值-方差模型,之后又讲到了资本资产定价模型

耶鲁公开课 - 金融市场课程节选

It's actually kind of a crusade of mine-- I believe that the world needs more portfolio diversification.

事实上，这是我长期研究的一个方向-,我认为，世界需要更多元化的投资组合。

耶鲁公开课 - 金融市场课程节选

Portfolio management pools risks in a different way: by assembling a diversified portfolio or a portfolio that's negatively correlated with a risk that someone has.

而投资组合管理采用了不同的方式,多元化的资产配置,或者风险负相关性的,投资组合

耶鲁公开课 - 金融市场课程节选

Then I will move to portfolio diversification and supporting financial institutions.

再之后我会讲讲投资组合的多元化,和辅助的金融机构

耶鲁公开课 - 金融市场课程节选

In that year, we were early on in terms of diversifying the portfolio -we'd only been working on that program for two years -and even so,the negative return was less than 1%, so it was a modest negative return.

在那一年,我们还处于投资组合多元化的初期,刚刚开始2年,即便如此,股灾时我们的亏损小于1%,这只是一个轻微的亏损

耶鲁公开课 - 金融市场课程节选