What I did in this diagram is I computed the efficient portfolio frontier-- now it's the blue line with three assets.

在这张图表中,我计算了有效边界-,蓝色线表示三种资产的组合。

耶鲁公开课 - 金融市场课程节选

The pink line takes two assets, one is stocks and the other is bonds, actually government bonds.

粉色线包含两种资产的投资组合，一个股票，另一个是债券，实际上是政府债券。

耶鲁公开课 - 金融市场课程节选

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。

耶鲁公开课 - 金融市场课程节选