It's a very important observation in finance that returns on a lot of speculative assets have fat-tailed distributions.

在金融界中,这是一种重要的观测方法,许多投机性资产的收益,都是服从长尾分布的

耶鲁公开课 - 金融市场课程节选

This refers to random variables that have fat-tailed distributions-- random variables that occasionally give you really big outcomes.

这就表示,服从长尾分布的随机变量,这些数据出现极端值的概率比较大

耶鲁公开课 - 金融市场课程节选