If they're sort of doing their job right, they're actually diversifying away all the risk and relying on the law of large numbers.

如果他们工作得当，那么他们其实是规避了所有的风险,而且依赖大数定理。

耶鲁公开课 - 金融市场课程节选

I actually believe in the history of the planet, there are very, very few instances of people getting paid for taking risk; they get paid for eliminating it.

我一直相信在人类的历史上，有非常少的例子来证明人们,因为承担风险而获得了收益；,他们是因为规避了风险而收益。

耶鲁公开课 - 金融市场课程节选

That's coupon clipping and risk mitigation.

这就是定期获得收益和风险规避。

耶鲁公开课 - 金融市场课程节选

Non-obvious ideas were conceived of to solve these problems of long-term risks and to get around the psychological barriers imposed by framing biases and psychological biases, in order to allow people to actually manage the risk and to get around moral hazard.

解决方法需要被研究并发掘,来处理长期风险问题,避开由于框架效应,引起的心理障碍，能够使人们真正控制风险,规避道德风险。

耶鲁公开课 - 金融市场课程节选