This is a special case, though, because I've assumed that the assets are independent of each other, which isn't usually the case.
这是一个特例,因为我假设了,这个投资组合里的资产是相互独立的,但现实中通常都不是这样的。
It is very interesting to me because it's a discrete invention that happened in a point of time in response to information technology.
我觉得很有意思,因为它由许多组成部分构成,这些部分组合在了一起,而且都和信息技术有关。
Because sometimes the value of a combination is different then the value you would get by just thinking about each one of the parts in isolation and then adding them up.
因为有时一个组合的价值会不同,那么你得到的价值是只单独考虑每一部分,然后把它们相加所得。
This one cell, this one fertilized cell which is unique because it's the - its chromosome contains the combination of the sperm and the egg, develops into an embryo and then on birth develops into a human.
这个受精卵,是独一无二的,因为它的染色体,包含了精子和卵子的组合,并由此发育成为一个胚胎,之后形成一个人类个体
There's not two bonds, that's one pi bond, and the reason is because it's 2 p orbitals coming together, and remember p orbitals have electron density above and below the axis, so when they come together, it kind of looks like one bonds, but essentially what we have here is one pi bond.
这不是两个键,这是一个π键,因为这是两个2p轨道组合而成的,记住p轨道在键轴之上,和键轴之下都有电子密度,当它们靠近时,这看着很像两个键,但本质上它是一个π键。
Because the square root of 10,000 is 100, whatever the standard deviation of the portfolio is, you would divide it by 100 and it would become really small.
因为一万的平方根是一百,无论这个投资组合的标准差是多大,当除以100后就都变得很小很小了。
When you add another asset, you do better when you have three assets, you do better than if you just had two because there's more diversification possible with three assets than with two.
当你增加一种资产,有三种资产的时候,投资组合的表现会比两种资产时更好,因为三种资产相比两种资产的情况,可选择的投资组合更多。
It's something that permeates the portfolio and, I think, provides really interesting investment opportunities because a lot of the foreign markets are less efficiently priced than those that you find in the U.S.
渗入了整个投资组合,并提供了很有吸引力的盈利机会,因为很多国外市场,没有美国国内市场程度的有效定价
Everyone would do that, no one would ever hold some other portfolio ... because you can see that this line is the lowest-- it's far--you want to get to the left as far as possible.
所有人都会这么做,没人会选择其他的投资组合,因为你们可以看到这条线是最低的-,你希望他越靠左越好。
Because we hold relatively stable, relatively well-diversified portfolios, security selection turns out not to be an important determinant of returns for most investors and market timing turns out not to be an important determinant of returns.
因为持有相对稳定,和相对分散的投资组合,证券选择不再是,决定投资者回报率的重要因素,而市场时机选择,也不会成为决定回报率的重要因素
What we want to do now is compute the mean and variance of the portfolio-- or the mean and standard deviation, since standard deviation is the square root of the variance-- for different combinations of the portfolios.
我们现在要做的是,计算这个投资组合的均值和方差-,或者均值和标准差,因为标准差的平方就等于方差-,这对任何投资组合都是一样的。
So essentially, each of these orbitals come from linear combinations of all of the original orbitals, and it's hard to picture exactly how that happens, but one that you can at least start to get an idea is if you think about combining the 2 s and the 2 p z here, which is not quite accurate because of course, we're combining all of them.
本质上,这些轨道每个都来,自原来所有轨道的线性组合,我们很难想象这是怎么发生的,但你们可以至少有个概念,如果你们考虑2s和2pz轨道的结合,这当然是不太准确的,因为我们要把所有的都组合起来。
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