Portfolio management pools risks in a different way: by assembling a diversified portfolio or a portfolio that's negatively correlated with a risk that someone has.

而投资组合管理采用了不同的方式,多元化的资产配置,或者风险负相关性的,投资组合

耶鲁公开课 - 金融市场课程节选

We establish these targets, we review them once a year, we don't make changes in many years, they're quite stable, and when we do move them we don't move them by a lot.

我们设定了这些资产配置,每年都会评估一次,这些指标已经很多年没有变过了,十分稳定,即使我们要调整,也不会有很大幅度

耶鲁公开课 - 金融市场课程节选

So just in case I happen to use the CS50 library, we've configured the cloud in such a way that make just always provides you with access to it.

所以万一我碰巧使用了CS50程序库，我们用这种方法配置了联网,那样我们就有使用它的权利了。

哈佛公开课 - 计算机科学课程节选

So, it's not surprising that asset allocation explains more than 100% of returns and that, for the community as a whole, market timing and security selection are costly and lower the community's aggregate investment returns.

因此资产配置能解释100%以上的回报,也不足为奇了,对投资者整体来说,市场时机选择,和证券选择是有代价的,降低了总的投资回报

耶鲁公开课 - 金融市场课程节选

Well, one of the things I think is a sensible thing to do in life is look around at what others are doing, so I looked at what colleges and universities had done in terms of asset allocation.

一种我认为,比较实际的做法就是,关注周围的人在干什么,于是我观察了各个大学,是如何进行资产配置的

耶鲁公开课 - 金融市场课程节选

As a matter of fact, it's so widely believed that asset allocation is the most important tool that I think some people have come to the conclusion that it's some sort of law of finance that asset allocation is the most important tool.

事实上,我们普遍相信,资产配置是最重要的工具,以至有人得出结论,资产配置是最重要的工具,已经算是一条金融学定理了

耶鲁公开课 - 金融市场课程节选