The first, asset allocation, basically deals with which assets you have in your portfolio and in which proportion you hold each of those assets.

首先,资产配置主要是指,你的投资组合包括哪些资产,以及每种资产所占的比例

耶鲁公开课 - 金融市场课程节选

Let's start out with the first: asset allocation.

让我们从第一点开始,资产配置

耶鲁公开课 - 金融市场课程节选