穆同學(xué)
2019-11-29 14:4710題，這個內(nèi)容在課上完全沒聽到…
所屬：CFA Level III > Behavioral Finance 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個回答
Peter F助教
2019-12-02 11:01
該回答已被題主采納
同學(xué)，你好：
behavioral portfolio theory (BPT) 其實就是想說下面這件事情。
The optimal portfolio under BPT can differ from the perfectly diversified portfolio of Markowitz. In Markowitz’s portfolio theory, risk-averse investors construct diversified portfolios based on mean–variance analysis and consideration of the covariance between assets.
They are concerned about the expected return and variance of the portfolio as a whole. In behavioral portfolio theory, however, investors construct their portfolios in layers and expectations of returns and attitudes toward risk vary between the layers.
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