The Fed is taking on a serious risk in doing this because these assets that it takes on in exchange for Treasury securities could fail.

美联储这样做很有风险,因为这些他们作为国库证券交换来的,资产可能是个烂摊子。

耶鲁公开课 - 金融市场课程节选

Finally, I just want to say, next lecture is January twenty-eighth and we're going to talk about portfolio diversification, which is one very important application of the fundamental principle of risk management, as applied to securities.

最后，我想说下一讲是在1月28日,到时我们会谈谈资产组合多样化，这是风险管理基本原则中,对证券投资来说，这是非常重要的一项应用。

耶鲁公开课 - 金融市场课程节选

That's not a way that we really think about it, but I do believe that the risk level of the University's portfolio is really quite low in statistical terms -much lower than the risk level that you'd have if you had a traditional portfolio dominated by marketable securities.

这一般不是我们考虑的关键,但我相信,耶鲁投资组合的风险水平,在统计数字上是非常低的,远远低于,持有一个传统的可交易证券主导的,投资组合的beta系数

耶鲁公开课 - 金融市场课程节选