Some of the key considerations for insurance companies are risk-based capital measures, yield, liquidity, the potential for forced liquidation of assets to fund negative claims development, and credit ratings. 這句話請問能不能解釋一下
When asset allocation considers such extended portfolio assets as human capital, the optimal allocation of financial capital can change through time. - human capital怎么理解
When asset allocation considers such extended portfolio assets as human capital, the optimal allocation of financial capital can change through time.
老師說組合總風(fēng)險是10.88%？ 為什么？ MCTR和AMCTR 代表不是marginal contribution嗎？ 我的理解是表示增加1% asset size帶來的 additional risk
(1). Rebalancing and taxes: In the multi-period world, rebalancing triggers the realization of capital gains and losses. Given a specific rebalancing rule, different SAAs will result in different patterns of tax payments.
股價上升，是long call 方以低價買入的權(quán)力，即short call低價賣出的義務(wù)，那么short 方應(yīng)該是虧錢的，反之股價下跌，是long put高價賣出的權(quán)利，即short put 高價買入的義務(wù)，short 也是虧錢不是嗎？ 怎么說rebalance earn return from being short volatility呢
這道題 5/8 of total risk comes from equity asset classes and 3/8 comes from fixed-income - equity和fixed income的 占比是不是反了？
Individual manager selection is an implementation and execution decision designed to achieve strategic decisions made by the investment committee and is typically not a strategic decision itself. - 能否解釋一下，為什么manager selection made by investment committee ?
Include less liquid asset classes in the asset allocation decision and attempt to model the inputs to represent the highly diversified characteristics associated with the true asset classes. 這句話請問怎么理解
The compound growth rate of a portfolio is greater than the weighted average compound growth rates of the component portfolio holdings (given positive expected returns, positive asset weights, and sufficiently low transaction costs). 這句話怎么理解？
Without weighing costs and benefits in the abstract 這句怎么理解？
這是Mock Exam A上午第一題。答案的意思是選sharpe ratio最小，但我理解minimize volatility是指組合方差最小。
對于goal2，用金融計算器的話，pmt=100000 n=10 fv=0 I =1.022/1.03-1？ 這個ｉ是負(fù)數(shù)，那還怎么求出pv呀，我前面理解錯誤了嗎??
能不能解釋一下 decision-reversal risk 和 reverse investment decision ？ Google出來的意思好像和老師講的不太一樣，謝謝
TAA=target+-range 還是SAA=target+-range?
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