If you looked at the domestic equity return -the average return that was posted in 2000--it was -3.1%.

看看国内证券的收益,2000年公报的平均收益率是负3.1%

耶鲁公开课 - 金融市场课程节选

.. The equity premium is the-- 2.8% this short-term 2.8% is the riskless return, historically, for a period of almost 200 years.

股权溢价就是-,这个短期无风险投资收益率是，是根据近200年的数据得出的。

耶鲁公开课 - 金融市场课程节选

You look at the returns that are reported for hedge funds in aggregate--they're generally 12%,13%,14% per year for the last five or ten years.

看一下过去5到10年间,公报中的对冲基金年平均收益率,普遍来说是12%,13%,14%

耶鲁公开课 - 金融市场课程节选

So, that is not--your return is actually higher than 2.51% on an annualized basis.

所以,你的实际年收益率,应该高于2.51%

耶鲁公开课 - 金融市场课程节选

Remember, this thing only runs for sixty days and you could compute your sixty-day return, but people like to compare annual returns-- once again, a tradition we have.

注意,这个债券期限只有60天,当然你可以计算60天的收益率,但是人们往往喜欢用年收益率进行比较,这也是一种传统

耶鲁公开课 - 金融市场课程节选

Yale now has over twenty-two billion dollars in its endowment.

他缔造了年平均收益率16.1%辉煌绩效 耶鲁现在拥有超过220亿美元的基金

耶鲁公开课 - 金融市场课程节选

Whether you measure it in terms of dollars of value added or in terms of returns, Yale has the best record among colleges and universities for the past two decades.

不管是从增值的角度,还是从收益率的角度衡量,过去20年里,耶鲁的表现是所有高校中最好的

耶鲁公开课 - 金融市场课程节选

My favorite way to measure the results is actually to compare what Yale achieved with what we would have had if we would have just experienced average returns over the past twenty years.

在衡量成绩时,我喜欢的做法是,将过去20年耶鲁模式下获得的资产,与市场平均收益率计算的资产,进行比较

耶鲁公开课 - 金融市场课程节选

For the ten years ended June 30,2005, it returned 9.9% per year and then the average return for the actively managed equity fund was 9.6% per year, so we're back to that thirty basis points.

截至2005年6月30日的10年间,该指数年收益率为9.9%,而主动管理型股权基金的年平收益率为9.6%,我们落后30个基点

耶鲁公开课 - 金融市场课程节选

Over the past twenty years, we've generated 15.6% per annum return, but that headline number obviously has a lot to do with the equity orientationof the portfolio but doesn't describe the importance of the diversification.

过去20年间,我们的年收益率达到15.6%,虽然媒体头条报道这一收益率,总强调与投资组合的股权导向有很大关系,但没有描述出投资多元化的重要性

耶鲁公开课 - 金融市场课程节选

Suppose someone has been investing money for n years and xi is the return on the investment in a given year.

假设有人投资了n年,Xi是第i年的收益率

耶鲁公开课 - 金融市场课程节选