来自《耶鲁大学开放课程：金融市场 第9集 第9集》

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  and took Yale's $22.5 billion dollars
  把耶鲁的225亿美元
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  and decided that I was going to day trade bond futures,
  投资于即日平仓的债券期货
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  security selection wouldn't
  在这种情况下
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  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
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  to market time the bond futures market.
  我选择买卖期货的市场时机的能力
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  Now, I'm not going to do either one of those things.
  当然 这两种做法我都不会选
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  I'm not going to put Yale's entire portfolio in Google stock,
  我不会用耶鲁的全部资产买谷歌股票
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  I'm not going to go back
  我也不会
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  and take Yale's entire portfolio to day-trade bond futures;
  用耶鲁的全部资产买债券期货
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  in part, because it would be bad for me personally.
  一方面是因为 这对我个人不利