On the other hand, historically, most institutions do both If you go around the world, are also involved in investment banking.

另一方面，从历史上来说,如果你去全球看看，也做银行投资业务。

耶鲁公开课 - 金融市场课程节选

Now, I wanted to compare it with another question that I--people have this simple idea that there's a best investment.

现在,让我们对比另一个问题,人们总是简单地认为存在一种最佳投资

耶鲁公开课 - 金融市场课程节选

In addition to commercial banks--well, I'm not going to talk about investment banks here; that's another lecture.

除了商业银行之外...,我不会在这里讨论投资银行,这是另一节课的知识

耶鲁公开课 - 金融市场课程节选

The pink line takes two assets, one is stocks and the other is bonds, actually government bonds.

粉色线包含两种资产的投资组合，一个股票，另一个是债券，实际上是政府债券。

耶鲁公开课 - 金融市场课程节选

The other thing that I think would come out of the discussions is that diversification is important.

另一个需要讨论的话题是,分散投资很重要

耶鲁公开课 - 金融市场课程节选

Now the other thing is, there are other ways to get money out of a company without paying a dividend and one of them is stock repurchase.

另一件方面是,除了股利,还有其他收回投资的方法,比如股票回购

耶鲁公开课 - 金融市场课程节选

Although, in some sense, it wasn't really disintermediation because you could say a REIT is a different kind of intermediary between the individual and the investment.

某种意义上这不是真正的去中介化,因为你也可以说REITs是另一种,个人投资中介

耶鲁公开课 - 金融市场课程节选