NO.PZ202110280100000201
问题如下：
Determine, based on Beamon’s description of the Ogive Fund’s characteristics, his likely inclination to aggressively implement the fund’s strategy. Justify your response.
选项：
解释：
Beamon is likely to take a measured approach in implementing the Ogive Fund’s strategy. In particular, trade urgency, which refers to how quickly or slowly an order is executed over the trading time horizon, is likely to be low for the Ogive Fund. Greater trade urgency is associated with executing over shorter horizons, whereas lower trade urgency is associated with executing over longer horizons. To capitalize on views related to mispricing, the Ogive Fund’s individual positions may be held for several years. Minimal trading is required, and any necessary trading can often be carried out in a more patient manner. Additionally, the return payoffs associated with the Ogive Fund’s long-term investment views and value orientation are not likely to be rapidly acted on by other market participants. Thus, the rate or level of expected alpha decay, which refers to the erosion or deterioration in short-term alpha once an investment decision is made, is low.
这道题就是根绝基金的一些特征让描述下交易的紧迫程度和alpha衰减的快慢。 题目问的其实感觉不清楚，最好应该是出成，根绝基金的特征，描述下在 trade urgency 和 alpha decay 方面的表现。
虽然我也没有太弄清楚这个题考啥，但是根据题目的描述到是能写出点相关的内容了，没想到就是题眼。以下是我答法，请老师帮忙看下：
due to longer holding period and persistent mispricing opportunity, the trade execution is less urgent with lower alpha decay. his motivation is to outperform the S&P 500 benchmark.
