A portfolio is the collection of assets that you have

一个投资组合就是你拥有的资产的集合
financial assets, tangible assets.

例如金融资产有形资产
It's your wealth.

这些是你的财产
The first and fundamental principle is:

第一条也是最基本的一条原则是
you care only about the total portfolio.

你要关注的是整个投资组合
You don't want to be someone like the fisherman

不要像那个渔夫一样
who boasts about one big fish that he caught because it's not--

因为曾经捕过一条大鱼而到处炫耀
we're talking about livelihoods.

我们说的是维持生计的问题
It's all the fish that you caught,

关键在于你总共捕到过多少条鱼
so there's nothing to be proud of

而一次巨大的成功
if you had one big success.

没什么值得骄傲的
That's the first very basic principle.

这就是第一条最基本的原则