I think it's much severe than what you have experienced in the past year or two for the general economic situation.

甚至比过去两年的经济形势,还要严峻。

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We did have a large,short position in subprime mortgage-backed securities, which has paid off enormously for the University and really helped protect assets in the past nine months or a year.

我们确实曾持有很多,次级抵押担保证券的空头,它们为耶鲁赚了不少钱,并且在过去的9个月或1年间,为资产保值发挥了实在的作用

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So this is perhaps a site that some of you have spent way too much time on last year, if not in the past week or so, com this is isawyouharvard.com.

很多同学去年的时候,在这个网站上花费了很多时间，可能上周还玩了，这个网站的网址是isawyouharvard。

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