金程問(wèn)答
這張sampling MVO的圖片展示，也是有過(guò)于集中問(wèn)題，只是轉(zhuǎn)折的時(shí)候圓滑了一點(diǎn)。這能結(jié)局MVO的缺點(diǎn)么？
(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.
Global Market Portfolio里面不止5只股票啊，這個(gè)臉書的權(quán)重不能只算5個(gè)股票里的權(quán)重吧？
有計(jì)算風(fēng)險(xiǎn)資產(chǎn)的最優(yōu)權(quán)重的題嗎 這是個(gè)考點(diǎn)嗎
請(qǐng)問(wèn)應(yīng)該如何辨別endowment/foundation是采用了AO的方法還是ALM的方法呢？ 如果endowment/foundation明確了minimum spending rate為5%，那么是說(shuō)一定要達(dá)到這5%的spending 所以算是ALM？ （2）或者是說(shuō)spending要達(dá)到5%才可以享受稅務(wù)上的優(yōu)惠，這樣的話就不是硬性要求所以算是AO的方法？ 謝謝
第一題這么小的規(guī)模不應(yīng)該受制于規(guī)模限制嗎？
AA官網(wǎng)題，Construct the overall goals-based asset allocation for the Armstrongs given their three goals and Abbott’s suggestion for investing any excess capital. Show your calculations這題goal 2 的答案計(jì)算得不對(duì)吧？
反向優(yōu)化什么時(shí)候用capm的expected return,是什么時(shí)候用implied weight反推出來(lái)的implied return？
value ratios在DTA和STA中都出現(xiàn)了（dividend yield等等），因此這個(gè)是兩者共用的指標(biāo)嗎？
銀行是因?yàn)榇婵睿ㄘ?fù)債）多了導(dǎo)致貸款（資產(chǎn)）增加，并不是asset增加導(dǎo)致liability增加啊
為什么買跌是short put
In reviewing a financial plan written by the Laws’ previous adviser, Raye notices the following asset class specifications.Equity: US equitiesDebt: Global investment-grade corporate bonds and real estateDerivatives: Primarily large-capitalization foreign equities
為什么是portfolio 2 best meet endowment
CG tax是什么稅？
第5題，為什么不考慮后續(xù)的changes in the economic environment,其中有寫到需求降低了，減產(chǎn)不一定能達(dá)到效果，所以減產(chǎn)比較framing bias
程寶問(wèn)答
