The idea is that people don't see this basic risk management problem and they see things in entirely different terms.

该思想的关键在与人们并没有看到,其中本质的基本风险管理问题,而是站在完全不同的角度去看问题。

耶鲁公开课 - 金融市场课程节选

This is essentially a risk management system.

这本质上就是个风险管理系统。

耶鲁公开课 - 金融市场课程节选

Let me start out by putting what I think is a relatively controversial proposition on the table and that's that this investment management business, when stripped down to its bare essentials, is really quite simple.

让我从一个,相对争议的话题开始,投资管理业务,当剥离种种表象追溯到其本质时,其实非常简单

耶鲁公开课 - 金融市场课程节选