I think it's pretty widely known that asset allocation is far and away the most important tool that we have available to us as investors.

我认为,人尽皆知,资产配置是,投资者可用的工具中,最重要的工具

耶鲁公开课 - 金融市场课程节选

I think one of the more interesting and even simpler concepts that comes out of his study is that more than 100% of returns are defined by asset allocation.

我认为他的研究中更有意思,也更简明的一个结论是,超过100%的回报,是由资产配置决定的

耶鲁公开课 - 金融市场课程节选

So let's think about it. This sucker, Mac AIR what's it got in there? That Air Mac, it's, see, it's got, its go-- my Air Mac, I don't know about John's, his is probably better, mine has 1.8 gigahertz speed.

再让我们来看看这台机器，它是什么配置呢？这台，是的，我的Mac，AIR，我不关心John的,他的可能还更好，我的CPU是1。8G的。

麻省理工公开课 - 计算机科学及编程导论课程节选

He's come to the conclusion that over 90% of the variability of returns in institutional portfolios is attributable to asset allocation and that's the number that I think most people hear cited when they are looking at Roger Ibbotson's work.

他得出结论,机构投资中,超过90%的回报率变动,要归因于资产配置,我想这是罗格·伊博森的文章里面,被人引用得最多的结论

耶鲁公开课 - 金融市场课程节选

Part of the reason why I'm endorsing this market stability regulator is that there's no way we can set up a system that is both very effective in allocating resources and that is also very stable.

我赞成市场稳定性监控者,的部分原因是,没有方法建立一个,既能完全有效配置资源有非常稳定,的系统。

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

If I went back to my office after speaking with you this morning and took Yale's $22.5 billion dollars and put all of it into Google stock, asset allocation would have very little to say about what Yale's returns would be.

如果我今早下课之后回到办公室,把耶鲁的225亿美元,全部投资于谷歌股票,资产配置在这种情况下,对耶鲁的回报率就没有多少影响了

耶鲁公开课 - 金融市场课程节选

Alternatively, if I went back to the office and took Yale's $22.5 billion dollars and decided that I was going to day trade bond futures, security selection wouldn't have anything to say about the returns; asset allocation wouldn't have anything to say about the returns.

或者,如果我回到办公室,把耶鲁的225亿美元,投资于即日平仓的债券期货,在这种情况下,证券选择不会影响回报率,资产配置也不会影响回报率

耶鲁公开课 - 金融市场课程节选