来自《耶鲁大学开放课程：金融市场 第9集 第9集》

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  As a matter of fact, security selection
  事实上 在这种情况下
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  would absolutely dominate the results.
  证券选择将决定回报率
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  The idiosyncratic behavior of Google stock from the time
  谷歌股票在从买入
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  that we purchase it to the time that we sell
  到卖出这一段时间里的走势
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  it would define Yale's returns.
  将决定耶鲁的回报率
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  Alternatively, if I went back to the office
  或者 如果我回到办公室
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  and took Yale's $22.5 billion dollars
  把耶鲁的225亿美元
• 
  
  and decided that I was going to day trade bond futures,
  投资于即日平仓的债券期货
• 
  
  security selection wouldn't
  在这种情况下
• 
  
  have anything to say about the returns;
  证券选择不会影响回报率
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  asset allocation wouldn't have anything to say about the returns.
  资产配置也不会影响回报率
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  The returns would be attributable solely to my ability
  回报率仅仅取决于