That will lead us into the capital asset pricing model, which is the cornerstone of a lot of thinking in finance.

然后引出资本资产定价模型，这个模型是很多金融思想的基础。

耶鲁公开课 - 金融市场课程节选

Those are institutions that arrange for or manage the buying and selling of financial assets, such as the New York Stock Exchange.

经纪机构是指那些安排或,管理买卖的,金融资产的机构,比如说纽约股票交易所

耶鲁公开课 - 金融市场课程节选

That requires a theory of capital and they're going to have to invest the reserves in financial assets.

这需要借助于资本理论,并且还要将储备资金,投资于金融资产。

耶鲁公开课 - 金融市场课程节选

.. In the capital asset pricing model, in finance-- this is the most famous model in finance.

金融学里的资本资产定价模型-,是金融学里最有名的模型。

耶鲁公开课 - 金融市场课程节选

Then you have to ask, well how are the financial assets going to behave over time?

之后你还得追问，这些金融资产的,未来表现如何？

耶鲁公开课 - 金融市场课程节选

A portfolio is the collection of assets that you have financial assets, tangible assets.

一个投资组合就是你拥有的资产的集合,例如金融资产，有形资产。

耶鲁公开课 - 金融市场课程节选

The financial assets that Yale had, at that time, were about one billion dollars.

在那时,耶律拥有的金融资产,大概有十亿美元

耶鲁公开课 - 金融市场课程节选

It turns out that it's not a financial law that asset allocation takes center stage; it really is more a description of how it is that we behave.

事实上,资产配置的核心地位,还称不上是金融学定理,但它确实已不仅仅是对我们行为的描述

耶鲁公开课 - 金融市场课程节选

The endowment is defined as the financial assets that Yale University owns.

这笔基金是耶鲁大学拥有的,金融资产

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