.. I can achieve any combination-- I can achieve any point on that by choosing an allocation of my portfolio.

我可以得到任意组合-,可以任意分配投资组合中,各种投资的比重。

耶鲁公开课 - 金融市场课程节选

Its name is malloc for memory allocation and what malloc does for us is we say, hmm, the user has typed in a three-letter word.

它为我们分配内存地址,它为用户输入的3个字母单词,分配地址。

哈佛公开课 - 计算机科学课程节选

The overall conclusions are that, with respect to asset allocation, you want to create an equity-oriented diversified portfolio.

总而言之,在资产配置方面,你要创造一个股权导向的多元化投资组合

耶鲁公开课 - 金融市场课程节选

The last man standing is asset allocation and that tends to drive both institutional returns and individual returns.

能决定回报率的只剩下资产配置,它将决定,机构投资和个人投资的回报率

耶鲁公开课 - 金融市场课程节选

So the heap is a chunk of memory in a computer's RAM that's conceptually allocated to what's called dynamic memory allocation.

堆是在计算机RAM中的一块内存,它可以进行,动态内存分配。

哈佛公开课 - 计算机科学课程节选

Because that's true, then asset allocation ends up being the overwhelmingly important determinant of the University's results.

因为在这种情况下,资产配置,是学校投资回报率的,支配性的决定因素

耶鲁公开课 - 金融市场课程节选

The first, asset allocation, basically deals with which assets you have in your portfolio and in which proportion you hold each of those assets.

首先,资产配置主要是指,你的投资组合包括哪些资产,以及每种资产所占的比例

耶鲁公开课 - 金融市场课程节选

I think it's pretty widely known that asset allocation is far and away the most important tool that we have available to us as investors.

我认为,人尽皆知,资产配置是,投资者可用的工具中,最重要的工具

耶鲁公开课 - 金融市场课程节选

The gap in what Morningstar calls the "Conservative allocation fund" is 0.3% per year.

在晨星公司所称的"保守配置型基金"中,每年大约存在0.3%的缺口

耶鲁公开课 - 金融市场课程节选

How can asset allocation be responsible for more than 100% of investment returns?

资产配置怎么能决定,100%以上的投资回报

耶鲁公开课 - 金融市场课程节选

Well, if you look at the annual reports of their asset allocation, in June of 1987, their equity allocation was higher than it had been for fifteen years.

如果你去看看,他们那时候的资产配置年报,1987年6月,权益资产的比重,达到15年来的最高点

耶鲁公开课 - 金融市场课程节选

It turns out that it's not a financial law that asset allocation takes center stage; it really is more a description of how it is that we behave.

事实上,资产配置的核心地位,还称不上是金融学定理,但它确实已不仅仅是对我们行为的描述

耶鲁公开课 - 金融市场课程节选

It took these institutions until 1993--a full six years-- to get their bond allocation back down to where it had been prior to the crash in October 1987.

这些机构直至1993年,整整六年时间,才恢复到1987年10月崩盘之前的,债券投资配置

耶鲁公开课 - 金融市场课程节选

I think one of the more interesting and even simpler concepts that comes out of his study is that more than 100% of returns are defined by asset allocation.

我认为他的研究中更有意思,也更简明的一个结论是,超过100%的回报,是由资产配置决定的

耶鲁公开课 - 金融市场课程节选

Those three tools are asset allocation, market timing, and security selection.

这些工具是,资产配置,市场时机选择和证券选择

耶鲁公开课 - 金融市场课程节选

Let's start out with the first: asset allocation.

让我们从第一点开始,资产配置

耶鲁公开课 - 金融市场课程节选

So, it's not surprising that asset allocation explains more than 100% of returns and that, for the community as a whole, market timing and security selection are costly and lower the community's aggregate investment returns.

因此资产配置能解释100%以上的回报,也不足为奇了,对投资者整体来说,市场时机选择,和证券选择是有代价的,降低了总的投资回报

耶鲁公开课 - 金融市场课程节选

He's come to the conclusion that over 90% of the variability of returns in institutional portfolios is attributable to asset allocation and that's the number that I think most people hear cited when they are looking at Roger Ibbotson's work.

他得出结论,机构投资中,超过90%的回报率变动,要归因于资产配置,我想这是罗格·伊博森的文章里面,被人引用得最多的结论

耶鲁公开课 - 金融市场课程节选

Well, one of the things I think is a sensible thing to do in life is look around at what others are doing, so I looked at what colleges and universities had done in terms of asset allocation.

一种我认为,比较实际的做法就是,关注周围的人在干什么,于是我观察了各个大学,是如何进行资产配置的

耶鲁公开课 - 金融市场课程节选

If I went back to my office after speaking with you this morning and took Yale's $22.5 billion dollars and put all of it into Google stock, asset allocation would have very little to say about what Yale's returns would be.

如果我今早下课之后回到办公室,把耶鲁的225亿美元,全部投资于谷歌股票,资产配置在这种情况下,对耶鲁的回报率就没有多少影响了

耶鲁公开课 - 金融市场课程节选

As a matter of fact, it's so widely believed that asset allocation is the most important tool that I think some people have come to the conclusion that it's some sort of law of finance that asset allocation is the most important tool.

事实上,我们普遍相信,资产配置是最重要的工具,以至有人得出结论,资产配置是最重要的工具,已经算是一条金融学定理了

耶鲁公开课 - 金融市场课程节选

Alternatively, if I went back to the office and took Yale's $22.5 billion dollars and decided that I was going to day trade bond futures, security selection wouldn't have anything to say about the returns; asset allocation wouldn't have anything to say about the returns.

或者,如果我回到办公室,把耶鲁的225亿美元,投资于即日平仓的债券期货,在这种情况下,证券选择不会影响回报率,资产配置也不会影响回报率

耶鲁公开课 - 金融市场课程节选