Our foreign exposure is not limited to the marketable security exposure, which I cited as being 15% of the fund, but there's foreign exposure in real estate, there's foreign exposure in leverage buyouts, there's foreign exposure in venture capital.

我们的境外投资,并不限于可交易证券类,那只占总资产的15%,也有境外不动产投资,境外杠杆收购,以及境外风险投资

耶鲁公开课 - 金融市场课程节选

That's not a way that we really think about it, but I do believe that the risk level of the University's portfolio is really quite low in statistical terms -much lower than the risk level that you'd have if you had a traditional portfolio dominated by marketable securities.

这一般不是我们考虑的关键,但我相信,耶鲁投资组合的风险水平,在统计数字上是非常低的,远远低于,持有一个传统的可交易证券主导的,投资组合的beta系数

耶鲁公开课 - 金融市场课程节选