本文认为，市场资产由市场关系资产和市场智力资产构成。

The author points out that market relation assets and market intellectual assets compose market assets.

youdao

那时的帐面价值由纺织资产构成。那些资产平均而言无法获得接近合理的回报率。

All of that book value consisted of textile assets that could not earn, on average, anything close to an appropriate rate of return.

youdao

对于一家资产构成如此广泛的公司，合理的预期是它能至少划分为几项不同的业务。

In a firm with an asset palette as widely varied as this one, it's justifiable to expect at least a couple of different segments.

youdao

If an asset class has constituents that are efficiently priced, then it's very hard to generate excess returns.

如果某种资产的构成都是有效定价的,那么就很难产生超额回报

耶鲁公开课 - 金融市场课程节选

The first problem set asked you to manipulate the model that I just presented-- the model of how you form portfolios and the model of the capital asset pricing model.

第一道习题,考察的是你们能否活用我刚刚给出的几个模型-,包括怎样构成投资组合的模型,和资本资产定价模型。

耶鲁公开课 - 金融市场课程节选