What I think the mutual fund industry has turned into, largely, is a stock picking industry, not a portfolio diversification industry.

我认为,共同基金行业在很大程度上,已经演变成选股行业,而非投资组合多样化行业

耶鲁公开课 - 金融市场课程节选

Picking stocks means trying to find a stock that's going to do really well.

挑选股票意味着,发掘一支具有上涨潜力的股票

耶鲁公开课 - 金融市场课程节选