There's something else going on besides diversification; diversification means you get the average return.

除了投资多样化外,肯定还有别的因素,投资多样化代表着市场平均收益

耶鲁公开课 - 金融市场课程节选

And also the profession is very much at the mercy of the market place

而且这个行业在很大程度上受制于市场因素。

建筑学专业教授 - SpeakingMax英语口语达人

Because we hold relatively stable, relatively well-diversified portfolios, security selection turns out not to be an important determinant of returns for most investors and market timing turns out not to be an important determinant of returns.

因为持有相对稳定,和相对分散的投资组合,证券选择不再是,决定投资者回报率的重要因素,而市场时机选择,也不会成为决定回报率的重要因素

耶鲁公开课 - 金融市场课程节选

We like certain foods, we have positive associations with them because of our families and all these-- and marketing of course, and all these factors come into play in shaping how we feel about food.

我们喜欢某些食物,对它们会产生正面联想,因为,我们的家庭,当然还有市场营销,以及所有的这些因素都影响着,我们对食物的感觉

耶鲁公开课 - 关于食物的心理学、生物学和政治学课程节选

The thing that comes to my mind is that-- I want to say before concluding this review of the last lecture-- that is that the stock market is inherently political in any country.

浮现在我脑海中的一件事是,在回顾环节结束之前,我想谈谈这个,那就是在任一国家的股票市场上,都会被固有的政治因素所影响

耶鲁公开课 - 金融市场课程节选