You have to limit your exposure to risky asset classes to a level that allows you to sustain those positions even in the face of terribly adverse market conditions.

你必须把手中持有的风险资产,限制在一个合适的比例水平,并且即使到了最差的市场环境下,你依旧能够承受这些风险资产

耶鲁公开课 - 金融市场课程节选

And those positions live in the wider frame of pluralism.

这些立场都存在于多元主义更宽泛的框架之内。

普林斯顿公开课 - 人性课程节选

So Christine is correct in saying that once we delete the strategies 1 and 10 once we realize that those positions are not going to be chosen by our sophisticated candidates then we realize that probably choosing 2 isn't a good idea either.

克里斯汀说的很对,一旦我们剔除了策略1和10,一旦我们意识到,不会有人选择这些立场时,我们会发现,选立场2或9可能也不是个好主意了

耶鲁公开课 - 博弈论课程节选

When you look at each of those individual asset classes -domestic equities, foreign equities, bonds, real assets, absolute return and private equity -each of those individual asset classes is going to be relatively well-diversified in terms of exposures to individual positions or individual securities.

当你观察每一种资产,比如国内股权,国外股权,债券,不动产,绝对收益和私募股权,这其中每一种,比起单一头寸或单一证券,风险都是相对分散的

耶鲁公开课 - 金融市场课程节选