Passive中，會(huì)導(dǎo)致 portfolio中成分股比 benchmark還多的是 buffering還是 packeting，麻煩解釋一下
老師，題21，size 系數(shù)-0.6，老師說乘以個(gè)負(fù)數(shù)就為earnings surprise,乘以負(fù)數(shù)就是說小盤股outperform 大盤股。 我記得上課時(shí)說如果她的系數(shù)是負(fù)數(shù)-0.6，表示偏向大盤股，那偏向大盤股，又要產(chǎn)生earnings surprise,不是表示所偏向的大盤股要表現(xiàn)更好于小盤股才能產(chǎn)生收益驚喜嗎？ 不知道我哪里理解對(duì)有誤，幫忙看下，謝謝。
那是否可以說，分層抽樣的tracking error比full replication要低？
R22原版書后習(xí)題第6小題，是基金還是投的項(xiàng)目有利益沖突？還是雙方都有？
我想確認(rèn)一下，自上而下和自下而上的方法都屬于fundamental approach嗎？那factor based屬于quantitative approach，但是和自上而下和自下而上無關(guān)了是嗎？ 謝謝
請(qǐng)問在 CFA practice question 中 ，Disadvantages of using ETFs include the need to buy at the offer and sell at the bid price, paying commissions, and possibly facing illiquid markets at either purchase or sale. 所有股票不是都是都buy at ask and sell at bid嗎？ 還有ETFs 相較於一般股票更 liquid，為什麼這兩點(diǎn)是advantages?
您好，請(qǐng)問既然指定了地域行業(yè)，為什么要選擇size/style分類？謝謝 Equity Investment Universe A portfolio manager is initiating a new fund that seeks to invest in the Chinese robotics industry, which is experiencing rapidly accelerating earnings，the portfolio manager wants to select an approach to segment the equity universe. Recommend which segmentation approach would be most appropriate Solution: Based on his desired strategy to invest in companies with rapidly accelerating (growing) earnings, the portfolio manager would most likely segment his equity universe by size/style.
請(qǐng)問reading 11原版書課后題4B中考到了基于icapm計(jì)算出的expected return，是否可以作為從估值角度判斷最佳資產(chǎn)的依據(jù)。答案是還不夠，因?yàn)閑xpected return只考慮了系統(tǒng)性風(fēng)險(xiǎn)。請(qǐng)問equity這一類資產(chǎn)的預(yù)期收益估計(jì)是不是考試僅限于考慮系統(tǒng)性風(fēng)險(xiǎn)？
老師，請(qǐng)問最后一段，the share of capital指什么？它為什么會(huì)expected to change從而影響total value of equity？
老師，請(qǐng)問Event-driven strategy中第一點(diǎn)和第三點(diǎn)什么意思？
書后題113頁21題b和c的圖形不是一樣的嗎 有什么區(qū)別 22題不理解
老師您好，請(qǐng)問原版書reading20的課后題第3題 請(qǐng)問為什么b選項(xiàng)不對(duì)？老師說b是因?yàn)樗屡d市場的投資不適合他這個(gè)endowment … 但是我想問的是，您看答案說的最后一句話說是這些調(diào)整是在policy limit之內(nèi)的，那怎么能夠看得出b選項(xiàng)又不在限制范圍之內(nèi)呢？
課后題reading19question7,為什么答案中說portfolio variance是25%？怎么得來的
請(qǐng)用例子說明，POV，VWAP和TWAP具體的算法是什么？
這里的market factor return =0.55% 是否可以看作benchmark, 然后manager1的performance是低于benchmark的，manager2的performance是高于benchmark?
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