There's never been a successful third-party political culture take hold in this country without one really big issue to drive it.

美国就从没有过,第三政党真正成功执政的时候,因为缺乏一个真正重大的议题来支持它

耶鲁公开课 - 美国内战与重建课程节选

What will happen is that Yale will continue to hold a relatively well-diversified portfolio as defined by the range of asset classes in which it invests.

实际上,耶鲁会继续保持,一个相对合理多样化的投资模式,来进行多种资产的投资

耶鲁公开课 - 金融市场课程节选

That would mean that everybody is holding that same portfolio of risky assets and nobody is different, they're only different in how-- what proportions they hold the risky-- the tangency portfolio.

这就意味着每个人,都持有相同风险资产投资组合,每人都是一样的，他们唯一的不同在于-,他们所持有风险资产的比例-,也就是切线资产组合。

耶鲁公开课 - 金融市场课程节选

The reserves are an accounting entry-- it's how much they are required to hold, but the companies will hold more than that, typically, in order to protect themselves-- more than is required--and their policy holders-- more than is required by the regulators.

提取准备金就要做会计分录,由相关部门的规定,来提存一定量的准备金,但是保险公司可以持有更多的准备金,通常,多提存是为了,保护他们自己以及投保人,于是持有更多准备金

耶鲁公开课 - 金融市场课程节选