But, when you move from lending money to the government -either short-term with bills or longer term with bonds -to investing in the equity market, there's a stunning difference in terms of the returns.

当你转变投资方式,从借钱给政府,即通过短期债券或长期债券的形式,变成投资于股票市场,回报率的差别会大到让你吃惊

耶鲁公开课 - 金融市场课程节选

He created just about the biggest private equity firm from scratch in 1985 and I guess they just went public and they have a huge market cap.

他于1985年白手起家,创建了最大的私募股权公司,后来公司上市,市值相当可观

耶鲁公开课 - 金融市场课程节选

We were five years into this bull market and people were getting excited about the fact that stocks were going up and equity allocations were at a fifteen-year high.

历经五年牛市,人们越来越兴奋起来,股市持续攀升,权益投资达到了15年来的最高点

耶鲁公开课 - 金融市场课程节选