What I think the mutual fund industry has turned into, largely, is a stock picking industry, not a portfolio diversification industry.

我认为,共同基金行业在很大程度上,已经演变成选股行业,而非投资组合多样化行业

耶鲁公开课 - 金融市场课程节选

Our current portfolio has 11% allocated to domestic equities, 15% to foreign equities,and 4% to bonds, so traditional marketable securities account for 30% of assets.

我们当前的投资组合中11%是国内股,15%是国外股,4%是债券,所以传统有价证券占总资产的30%

耶鲁公开课 - 金融市场课程节选

If you would have stepped further out of the risk spectrum and put your money into a portfolio of small stocks you would have gotten 15,922 times your money.

如果你愿承担更多的风险,将钱投资于小盘股组合,你就能获得本金的15922倍

耶鲁公开课 - 金融市场课程节选