The Republic belongs to that period of Plato's work after his return to Athens, after the execution of Socrates.
理想国》即是柏拉图,在返回雅典后的作品之一,也就是在苏格拉底被处决之后。
That's got the lowest possible standard deviation of expected return and that's 25% stocks and 75% bonds with this sample period.
这个组合预期回报的标准差最小,在这一点上,投资组合,由25%的股票和75%的债券构成。
.. The equity premium is the-- 2.8% this short-term 2.8% is the riskless return, historically, for a period of almost 200 years.
股权溢价就是-,这个短期无风险投资收益率是,是根据近200年的数据得出的。
This is the return on stocks for a period of almost 200 years.
这个是200年内股票的投资收益率。
The return, of course, in any given time period is the percentage increase in the portfolio; or, it could be a negative number, it could be a decrease.
当然了,收益率是一定时间内,投资组合的增长率;,也可能是一个负数,表示负增长。
Over this time period, that portfolio had an expected return of something like a little over 9% and it had a standard deviation of a little over 9%.
在这个时间段,这个投资组合的预期收益率是,9%多一点%,标准差是9%多一点。
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