So 90% of your portfolio is in domestic marketable securities and only 10% is invested in things like real estate or venture capital or private equity -hardly enough to make a difference in terms of the portfolios returns.

于是90%的投资都在本国有价证券中,仅10%用于比如不动产,风险资本或私募股权投资,这一小块几乎对投资回报,没有什么作用

耶鲁公开课 - 金融市场课程节选

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