Underlying this analysis, we have estimates of the expected returns on assets, notably, the expected returns on stocks and bonds.

凭借这个分析，我们可以估算出资产预期投资收益，特别是股票和债券的预期收益。

耶鲁公开课 - 金融市场课程节选

From then on,if you accept the analysis and the assumptions or the estimates that underlie it, then we pretty much know how to construct portfolios.

如果你们理解了整个分析过程,假设前提以及各项资产的有关估算,就能知道该怎样建立一个投资组合

耶鲁公开课 - 金融市场课程节选

You take all the risky assets ... and you analyze them first to get their-- you have to do a statistical analysis to get their expected returns, their variances, and their covariances.

你需要对所有的风险资产进行分析,首先要得到它们的-,你必须要做一个统计分析,算出它们的预期收益率，方差，和它们的协方差。

耶鲁公开课 - 金融市场课程节选

I'm going to--let's do the two-asset case.

我们来分析一个包括两项资产的投资组合。

耶鲁公开课 - 金融市场课程节选