The numbers that Jeremy Siegel produces seem implausibly high for the stock market.

杰里米·西格尔所提供的数据似乎表明,股票市场有难以置信的高回报率

耶鲁公开课 - 金融市场课程节选

Also, they've paid much more than long-term-- well it's not so different.

同样地，股票也比长期债券回报率高-,但不像短期那样差那么多。

耶鲁公开课 - 金融市场课程节选

But, when you move from lending money to the government -either short-term with bills or longer term with bonds -to investing in the equity market, there's a stunning difference in terms of the returns.

当你转变投资方式,从借钱给政府,即通过短期债券或长期债券的形式,变成投资于股票市场,回报率的差别会大到让你吃惊

耶鲁公开课 - 金融市场课程节选

If I went back to my office after speaking with you this morning and took Yale's $22.5 billion dollars and put all of it into Google stock, asset allocation would have very little to say about what Yale's returns would be.

如果我今早下课之后回到办公室,把耶鲁的225亿美元,全部投资于谷歌股票,资产配置在这种情况下,对耶鲁的回报率就没有多少影响了

耶鲁公开课 - 金融市场课程节选