Harvard University, Princeton University, and other universities have done extremely well on their endowments; however, not quite as well as Yale.

哈佛大学 普林斯顿大学,和其他的大学,各自的基金上都经营得很好,但是,都比不上耶鲁大学

耶鲁公开课 - 金融市场课程节选

Moreover, it's had a 17.8% average return for the last ten years, which is number one among university endowments.

甚至,过去十年中,耶鲁基金的年均收益率高达17.8%,依然高居全美高校榜首

耶鲁公开课 - 金融市场课程节选

So Yale had a 28% return on its portfolio last year, which was number one of all college endowments.

去年耶鲁基金获得了28%的收益,收益率高居全美高校榜首

耶鲁公开课 - 金融市场课程节选

One of the studies that I did for my first book, Pioneering Portfolio Management, looked at the behavior of endowments and foundations around the crash in October 1987.

我为第一本书《机构投资的创新之路》,所做的其中一个研究,是关于1987年10月那次股灾前后,各种捐赠和基金的表现

耶鲁公开课 - 金融市场课程节选

But what did endowments and foundations do?

但那时捐赠和基金在干什么

耶鲁公开课 - 金融市场课程节选