如果你想钓鱼，你必须持有钓鱼许可证。

If you want to go fishing, you must bring with you a permit to fish.

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你还必须持有至少12个月。

You also have to hold them for at least 12 months.

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You have to limit your exposure to risky asset classes to a level that allows you to sustain those positions even in the face of terribly adverse market conditions.

你必须把手中持有的风险资产,限制在一个合适的比例水平,并且即使到了最差的市场环境下,你依旧能够承受这些风险资产

耶鲁公开课 - 金融市场课程节选