NO.PZ2019012201000039
问题如下:
Matt makes the following statements about investing with long-only managers:
Statement 1 A long-only portfolio puts a firm floor on how much an investor can win.
Statement 2 A long-only portfolio generally allows for greater investment capacity than other approaches, particularly when using strategies that focus on large-cap stocks.
Which of Matt’s statements regarding investing with long-only managers is correct?
选项:
A.Only Statement 1
B.Only Statement 2
C.Both Statement 1 and Statement 2
解释:
B is correct.
考点:Long/Short, Long Extension, And Market-neutral
解析:表述1错在投资者不是为收益设定底线,而是为损失设定了底线。因为股票价格可以跌到的最低水平为零,而上涨空间是无限的,因此,只做多的投资者最大可能损失的金额就等于股票的初始投资。
第二个表述, 不太理解这个capacity的含义, 我是long only表示我的投资只能做多, 显然我限制了各种投资方式, 怎么capacity还大呢?