Leo
2023-07-13 22:05第1問，關(guān)于quantitative和qualitative analysis，這里寫到兩大點(diǎn)（style analysis/capture ratios and drawdowns; investment due diligence/operational due diligence）可以得分，還是需要寫到小點(diǎn)（比如RBSA、HBSA、investment philosophy、investment personnel等
所屬：CFA Level III > Trading, Performance Evaluation, and Manager Selection 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
開開助教
2023-07-14 13:38
該回答已被題主采納
同學(xué)你好，因?yàn)楸绢}是要求describe，要稍微描述兩個(gè)consideration。
這題讓我們給每個(gè) manager selection process.的component描述兩個(gè)consideration。component就是指的 qualitative and quantitative components。因此是定量和定性分別寫兩個(gè)consideration。
主要是根據(jù)下面這張表，在兩個(gè)component中分別選兩個(gè)來寫即可。
如果答疑對(duì)你有幫助，【請(qǐng)采納】喲~。加油，祝你順利通過考試~
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追答
定量方面有三個(gè)（任選兩個(gè)即可）：
Attribution and appraisal: To assess if the manager has displayed skill in investing.
The capture ratio: How has the manager performed in “up” versus “down” markets?
Drawdown: Does the return distribution exhibit large drawdowns?
定性方面分為Investment due diligence和Operational due diligence兩部分
其中Investment due diligence包括4部分：
■Philosophy ：What market inefficiency does the manager seek to exploit?
■Process ： Is the investment process capable of exploiting this inefficiency?
■People ：Do the investment personnel possess the expertise and experience necessary to effectively implement the investment process?
■Portfolio： Is portfolio construction consistent with the stated investment philosophy and process?（未完看追答） -
追答
Operational due diligence包含5部分：
■Process and procedure：Is the back office strong, safeguarding assets and able to issue accurate reports in a timely manner?
■ Firm： Is the firm profitable, with a healthy culture, and likely to remain in business? Is the firm committed -
追問
與講義給出的組成部分有點(diǎn)區(qū)別，quantitative包括style analysis和capture ratios and drawdowns，qualitative包括investment dd和operational dd。
其中style analysis包括RBSA和HBSA，capture ratios and drawdowns包括capture ratios和drawdown，investment dd包括investment philosophy、personnel、decision-making process，operational dd包括firm、investment vehicle、evaluation of the investment's terms -
追答
這張表是總結(jié)，是做定量定性分析的framework。本題的參考答案是根據(jù)后面的詳細(xì)講解來的。根據(jù)這個(gè)目錄，我們發(fā)現(xiàn)本章后面的內(nèi)容基本就是根據(jù)這個(gè)總結(jié)展開來講的，確實(shí)有些許區(qū)別。
那同學(xué)還是根據(jù)參考答案把。
因?yàn)槭敲枋?，還是不能只寫最外面那一層。 -
追問
應(yīng)該參照上面這張畫紅圈的圖吧（和講義一樣），參考答案中quantitative部分的attribution and appraisal以及process and people的說法在講義中是沒有的
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追答
可以的，這個(gè)紅圈的圖就是原版書的目錄，其他內(nèi)容只是在里面展開描述。
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