第六題，我怎么在本題圖中判斷cornor portfolio? policy portfolio是什么，有什么作用和地位？
after tax account
第三題，She explains to the board of directors that since the fund has low liquidity needs 這個只是經(jīng)理本人的一面之詞，不代表就是事實吧
第6題，Pre-tax allowable deviation is 15% - 10% = 5% or 10% - 5% = 5%. 沒看懂什么意思，為什么要有這一步
第二題，global real estate values are showing signs of overvaluation in some markets，房地產(chǎn)估值過高了，那B選項reduce real estate有什么問題？還有，在high yield spread很高的情況下，為什么不是按照CME那門課里講的那樣去買投資級債券降低風(fēng)險呢？另外，這里說的high-yield bond和coporate bond 有什么區(qū)別
第四題，We should sell now to lock in the gains, avoiding the substantial and painfullosses that many of our real estate holdings experienced during the last global recession，寫的明明白白因為厭惡損失所以現(xiàn)在及早鎖定收益，關(guān)于近期的信息，沒看到題干中有寫，所以為什么不是loss aversion
第三題，Upon receiving board approval, the UPPC will direct a financial advisory team and the investment managers to implement the asset allocation indicated in the IPS. 題干中說uppc會找專業(yè)的團(tuán)隊去實施asset allocation，為什么選項B不對，UPPC又不是自己做allocation，成員的背景有什么關(guān)系？
第三題，原版書中有定義如何算transparent嗎？
Q7 從題那可看出bond have lowest risk level?
Q2, 所以如以風(fēng)控角度，high risk asset 應(yīng)要設(shè) balance range less wider ?
第三題，We will aim for generating alpha through TAA decisions which will be dependent on the successful market or factor timing rather than security selection。 依賴successful market，而不是security selection，這不就在告訴你這個是systemetic嗎，哪里需要個人判斷，為啥不選systemetic？
Monte Carlo simulation 不是用來改良MVO的嗎，這里怎么用來解決rebalancing問題了
老師：能解釋一下這個圖的意思嗎？
hedge funds的收益和equity的一般認(rèn)為是誰的更高
diversifying和mutually exclusive有什么區(qū)別
程寶問答
金程問答