The problem is even more severe when you look at something that's relatively new, like the hedge fund world.

在相对新鲜的投资领域,你会发现这个问题更加严重,比如在对冲基金领域

耶鲁公开课 - 金融市场课程节选

One of the things that we've done over the years has been open-minded about backing groups that don't have traditional investment credentials.

多年来我们一直做的一件事情,就是开放思维去支持那些,传统投资者不会涉足的领域

耶鲁公开课 - 金融市场课程节选

We don't have really much of any direct exposure to homebuilders or to the housing industry.

我们并没有直接投资很多,在建筑或住房工业领域

耶鲁公开课 - 金融市场课程节选

Of course, in the venture capital world, the least efficiently priced of all, there's a 43.2% differential between the top quartile and the bottom quartile.

当然在最无法有效定价的风险投资领域,第一和第三个四分位数之间的差距,可以达到43.2%

耶鲁公开课 - 金融市场课程节选

As a matter of fact,there might not even be a benchmark against which you can measure results and you'd think about the venture capital world.

事实上,甚至也许没有一个指标,能用来衡量这些市场的投资结果,想想风险投资领域

耶鲁公开课 - 金融市场课程节选

The second part of the question dealt with the changes in our exposure to foreign assets and that's an area that we've been very interested in.

第二个问题是关于,我们在国外资产投资上的变化,这一直是我们很感兴趣的领域

耶鲁公开课 - 金融市场课程节选

We think that the more interesting investment opportunities are kind of outside of the mainstream with more entrepreneurial firms and ones that might have less traditional backgrounds.

我们觉得回报更佳的投资机会,并不在那些已经饱和的,主流投资领域中,而可能在那些不那么传统的新兴领域

耶鲁公开课 - 金融市场课程节选

So,if we see areas that are particularly interesting, we're more than happy to deploy capital to take advantage of what we think are cheap assets or expensive assets.

如果发现特别有吸引力的投资领域,我们也非常乐意进行资产配置调整,从我们认为的那些便宜的,或昂贵的资产中获利

耶鲁公开课 - 金融市场课程节选

How do you hug the market in the venture capital world?

如何掌控风险投资领域

耶鲁公开课 - 金融市场课程节选

To do well in investing you have to have your own independent view of things and really be thinking about how things work and he is someone who does that.

如果你想要在投资领域中表现出色,你就必须有独立的观点,了解事物的运行规律,而他正是这样一个人

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It has done phenomenally well in investing.

此基金在投资领域有着卓越的表现

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We have democratized -Now, REITs are a rapidly growing force in investing and now we have substantially democratized real estate holdings so it's not exclusively DPPs that are holding -not primarily--we have a lot of REITs now.

房地产投资已经公众化了,投资领域中的REITs正蓬勃发展,使得房产投资从根本上来说,公众化了,而不像DPP具有排他性,现在REITs数量众多

耶鲁公开课 - 金融市场课程节选