I showed them the slide that I just showed you, showing the optimal portfolio, and then I looked at the Norwegian Government's position.

我还给他们展示了刚刚给你们放的幻灯片，就是展示最佳投资组合的那张，然后我查看了挪威政府现在的资产状况。

耶鲁公开课 - 金融市场课程节选

The best possible portfolio that you can get would be points along this straight line.

你所能得到的最佳资产投资组合,就是这条线上的一系列点。

耶鲁公开课 - 金融市场课程节选

So, what it means then is that the optimal portfolio should not be the one I show there, but should be one that's very heavily into stocks.

他所想提出的观点是,最佳投资组合并不是我在这讲的那个，而是把大量资金都投资到股票市场中。

耶鲁公开课 - 金融市场课程节选

For him, the optimal portfolio should be very heavily into stocks.

以他的计算结果，最佳投资组合应该是大量投资股票。

耶鲁公开课 - 金融市场课程节选

So, people in the U.S. don't have the optimal portfolio either.

美国同样也没有拥有最佳投资组合。

耶鲁公开课 - 金融市场课程节选

Firms that do that are, in practice, however, the minority and most mutual funds have some gimmick or some special-- they claim to be beating the market not forming the optimal portfolio.

然而实际上,这么做的公司很少,大部分共同基金都会耍些花招,或有一些特别的...,他们强调他们的收益率将强于市场平均水平,而非建立最佳投资组合

耶鲁公开课 - 金融市场课程节选