I'm going to drop more than the independence assumption, I'm going to assume that the assets don't have the same expected return and they don't have the same expected variance.

我还想做出一些改动，即这些资产的预期收益率,是各不相同的,方差也是不同的。

耶鲁公开课 - 金融市场课程节选

If you're comparing two portfolios with the same expected return, then you want the one with the lower variance.

比较两个有相同预期收益率的投资组合时，你会选择方差小的那一个。

耶鲁公开课 - 金融市场课程节选

Expected value is good and variance is bad because that's risk; that's uncertainty.

期望值越高越好,方差就相反,因为方差代表着风险,也就是不确定性

耶鲁公开课 - 金融市场课程节选

We want a high expected value of returns, but we don't like variance.

我们希望收益的期望值较高,并且稳定

耶鲁公开课 - 金融市场课程节选

You'd have a higher expected return with no more variance.

你的预期收益率提高了，但风险没有增加。

耶鲁公开课 - 金融市场课程节选

But ultimately, everyone agrees I-- that's the premise here, that for the-- if you're comparing two portfolios with the same variance, then you want the one with the higher expected return.

但归根结底大家都会同意这一点-,这是一个前提-,当你比较两个有相同方差的投资组合时，你会选择预期收益率高的那一个。

耶鲁公开课 - 金融市场课程节选

The equally-weighted case that I gave a minute ago was one where the two assets had--were at the same-- had the same expected return and the same variance; but this is quite a bit more general.

我刚刚举的相同权重的例子,表示两种资产-,有相同的预期收益和相同的方差;,但这种情况更加普遍一些。

耶鲁公开课 - 金融市场课程节选