.. I computed the efficient portfolio frontier for various-- it's the efficient portfolio frontier using the formula I just gave you.

我计算了来自不同组合有效边界-,这一条有效投资组合边界,就是用刚刚给出的公式算出来的。

耶鲁公开课 - 金融市场课程节选

What I have up there on the diagram are calculations I made for the efficient portfolio frontier with three assets.

上面的图形是我已经算好的,三种资产的有效投资组合边界。

耶鲁公开课 - 金融市场课程节选

The pink line here is the efficient portfolio frontier when we have only stocks and bonds to invest.

这条粉色曲线就是有效边界,这个投资组合只包括了股票和债券。

耶鲁公开课 - 金融市场课程节选

They think, I'm really a smart investor, I figured it out,; it can reinforce the behavior until they get to maybe some terrible end.

他们会想我真是个聪明的投资人,我制定了如此有效的投资策略,这种想法使他们的自我膨胀加剧,直到他们遇到挫折或打击

耶鲁公开课 - 金融市场课程节选

Of course, in the venture capital world, the least efficiently priced of all, there's a 43.2% differential between the top quartile and the bottom quartile.

当然在最无法有效定价的风险投资领域,第一和第三个四分位数之间的差距,可以达到43.2%

耶鲁公开课 - 金融市场课程节选

In fact, I have it--suppose we have three assets and we want to compute the efficient portfolio frontier, the mean and variance of the portfolio.

事实上，假如我们拥有三种资产,我们想计算有效边界，及投资组合的均值和方差。

耶鲁公开课 - 金融市场课程节选

That people--they develop some investment strategy and through pure chance it does well.

人们制定了一些投资策略,一些策略的投资效果碰巧十分有效

耶鲁公开课 - 金融市场课程节选

If we want to add that asset to the portfolio, what it does is it produces an efficient portfolio frontier that is now a straight line; I show that on the diagram.

如果我们将其加入到投资组合中去，则会生成一条资产组合的有效边界,即一条直线;,我在图里把它画出来了。

耶鲁公开课 - 金融市场课程节选