Let's suppose that all of them are the same-- they all have the same standard deviation.

我们假设这些资产的收益率标准差-,均相等。

耶鲁公开课 - 金融市场课程节选

I'm going to drop more than the independence assumption, I'm going to assume that the assets don't have the same expected return and they don't have the same expected variance.

我还想做出一些改动，即这些资产的预期收益率,是各不相同的,方差也是不同的。

耶鲁公开课 - 金融市场课程节选

My favorite way to measure the results is actually to compare what Yale achieved with what we would have had if we would have just experienced average returns over the past twenty years.

在衡量成绩时,我喜欢的做法是,将过去20年耶鲁模式下获得的资产,与市场平均收益率计算的资产,进行比较

耶鲁公开课 - 金融市场课程节选

Then, once we did that we could plug that into the formula that I gave you last time and get the standard deviation of the portfolio and the expected return on the portfolio.

再将估算出的数值代入到,上节课给你们的公式中,就能得到资产投资组合的标准差,和该投资组合的预期收益率

耶鲁公开课 - 金融市场课程节选

r1 Asset 1 has expected return r1.

第一项资产的预期收益率是。

耶鲁公开课 - 金融市场课程节选

With the government expected return, we want to make that expected return as a fourth asset-- rf we could call it r4 but I'll call it rf-- it's a special asset.

根据政府的期望收益率，我们将其作为第四种资产-,可以称之为r4，我们写成-,这是个特殊的资产。

耶鲁公开课 - 金融市场课程节选