So, that kind of stuff is something to look at but I'd be very careful in buying equities.

所以这样的投资工具就是我们所要考虑的,但我对资产板块的投资会比较小心。

耶鲁公开课 - 金融市场课程节选

he says, all investing is about coupon clipping and the difference between equities and bonds are that bonds come with a coupon that's known and equities have earnings in the future that you don't know.

他说，所有的投资都是关于票息剪券的,股票和债券的区别是,债券有确定的票息,而股票的收益发生在未来,你是无法确定的。

耶鲁公开课 - 金融市场课程节选