frr0717
2018-04-17 14:32老師您好, 這個(gè)觀點(diǎn): "Compared with the geometric mean return, the arithmetic mean return is consistent with the assumptions of single period models, such as the CAPM." 答案的解釋是: The arithmetic mean return as the average one-period return best represents the mean return in a single period. The major finance models for estimating required return—in particular the CAPM and multifactor models—are single-period models, so the arithmetic mean, with its focus on single-period returns, appears to be a model-consistent choice. 請您解釋下, 謝謝!
所屬：CFA Level II > Portfolio Management 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個(gè)回答
金程教育Alfred助教
2018-04-17 15:34
該回答已被題主采納
同學(xué)你好，因?yàn)閹缀纹骄找媛视?jì)算的是多期連續(xù)投資的平均收益率，但算數(shù)平均都是把每一期都當(dāng)作獨(dú)立的投資計(jì)算的平均收益率?。所以算數(shù)平均更適合有單期假設(shè)的模型
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追問
怎么看得出capm是單期模型？
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追答
這個(gè)是capm的假設(shè)條件之一
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追問
單期在這里是指？
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追答
就比如0時(shí)刻開始，1時(shí)刻結(jié)束，就是單期。
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