The mutual fund theory that we gave last time said, no the mutual fund is just supposed to be diversifying for you.

但上节课讲到的共同基金定理认为,共同基金的目的是分散投资

耶鲁公开课 - 金融市场课程节选

The theory of mutual funds is: nobody is supposed to be holding anything other than-- ... the ideal theory of mutual funds--is holding something other than this tangency portfolio.

共同基金定理是指：,所有人都应该持有-,理想的共同基金定理说,都应该持有这种切线投资组合。

耶鲁公开课 - 金融市场课程节选