minus the riskless rate.

减去无风险利率
Again,

再强调一次
I'm not going to spend much time on this,

我不打算花太多时间在这个等式上面
but the β of the ith asset

但要注意的是当你想将市场组合收益
is the regression coefficient

回归到第i资产收益中去
when you regress the return on the ith asset

第i资产β系数是线性回归方程的
on the return of the market portfolio.

回归系数
rm is the expected return on the market portfolio,

rm是市场组合中所有资产组合的
which is the portfolio of all assets.

预期收益率
The market portfolio is,

市场组合则是
if you took all the stocks and bonds, and oil, and real estate,

假设你在全世界范围内购买了所有
anything that's available to invest in, in the whole world,

能够投资的股票债券石油和房地产