These are private companies--insurance companies--they're monoline because they look only at a certain class of risks and not all risks that they insure.

他们是私人保险公司,从事单线业务,因为他们只关注一类特定风险,而不是担保所有的风险

耶鲁公开课 - 金融市场课程节选

If they're sort of doing their job right, they're actually diversifying away all the risk and relying on the law of large numbers.

如果他们工作得当，那么他们其实是规避了所有的风险,而且依赖大数定理。

耶鲁公开课 - 金融市场课程节选

So, the idea that theorists suggest-- and it may be unreachable-- but the perfect financial system would have all of our risks pooled completely.

理论家提出的这一理论-,可能无法达到-,但是一个完美的金融体系,能够将所有的风险完全分摊。

耶鲁公开课 - 金融市场课程节选

You take all the risky assets ... and you analyze them first to get their-- you have to do a statistical analysis to get their expected returns, their variances, and their covariances.

你需要对所有的风险资产进行分析,首先要得到它们的-,你必须要做一个统计分析,算出它们的预期收益率，方差，和它们的协方差。

耶鲁公开课 - 金融市场课程节选

.. The problem is again the ideal-- they're trying to work toward what I think of an ideal that we see in finance-- 1 mainly, the perfect correlation of consumption and the elimination of risk--we all help each other.

问题又回到了理想-,他们为之奋斗的这种理想状态,如果用金融学的理念来解读-,就是消费与风险消除的相关系数为,即完全正相关，所有人都互助互利。

耶鲁公开课 - 金融市场课程节选