He said that we shouldn't think that the-- the simplest story of the term structure of interest rates, which he expounded there, is that forward rates equal expected future interest rates.

他提出,我们不应该认为,他在书中写道,对于利率期限结构,最简略的概括,是远期利率等于未来利率的期望值

耶鲁公开课 - 金融市场课程节选

The basic definition-- the expected value of some random variable x--E--I guess I should have said that a random variable is a quantity that takes on value.

最基本的定义,某一个随机变量X的期望值E,我应该提到过,随机变量是一个可以取值的数

耶鲁公开课 - 金融市场课程节选