I better say something about oil in the ancient world, so that you get a grip on what's going on here.
我最好说一下油在古代世界的地位,以便你能明白为什么会出售芳香油
If you're an oil rich country today, as long as that oil lasts, you got the world kind of at your knees.
如果你今天是富油国,并且能保持稳定的产油量,那整个世界都会匍匐在你的跟前
Does that mean we're going to live in a world with $100 oil?
是不是意味着以后,油就是100美元一桶呢
The market portfolio is, if you took all the stocks and bonds, and oil, and real estate, anything that's available to invest in, in the whole world, put them all together in one portfolio.
市场组合则是,假设你在全世界范围内购买了所有,能够投资的股票,债券,石油和房地产,将他们放在同一个投资组合里。
And one of the best analogies you can think of is the oil rich nations of the world in post-World War Two, in the post-World War Two era, whether it's Saudi Arabia, Iraq and Iran, the Emirates, or Venezuela, name--today Russia.
做个非常恰当的类比,你们可以把棉花想象成,二战后时期的石油,想想沙特阿拉伯,伊拉克,伊朗,阿联酋,委内瑞拉,和今天的俄罗斯吧
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