The difference between the average return for colleges and universities and Yale's returns has added $14.4 billion dollars to the University's coffers.

其他高校的平均收益率,与耶鲁的收益率的差距,为耶鲁财政增加了144亿美元

耶鲁公开课 - 金融市场课程节选

Whether you measure it in terms of dollars of value added or in terms of returns, Yale has the best record among colleges and universities for the past two decades.

不管是从增值的角度,还是从收益率的角度衡量,过去20年里,耶鲁的表现是所有高校中最好的

耶鲁公开课 - 金融市场课程节选

But regardless of how you measure it, for a full half-dozen years, in the midst of this bull market, colleges and universities were over-allocated to fixed income relative to where they had been in June of 1987.

但不管你怎么算,整整六年时间,处于牛市之中,大学的基金,由于1987年6月那次崩盘的影响,过度投资于固定收益债券

耶鲁公开课 - 金融市场课程节选

Well, one of the things I think is a sensible thing to do in life is look around at what others are doing, so I looked at what colleges and universities had done in terms of asset allocation.

一种我认为,比较实际的做法就是,关注周围的人在干什么,于是我观察了各个大学,是如何进行资产配置的

耶鲁公开课 - 金融市场课程节选