NO.PZ202110280100000301
问题如下：
Identify one difference between the trading features of Valley Ranch and North
Circle, as noted by Sailors, for each trade strategy selection criterion.
选项：
解释：
如题
笛子_品职助教 · 2023年06月05日
嗨，从没放弃的小努力你好：
请问market condition 里面这个 list 和 non-list 怎么理解
我们看题目条件，下图红框部分
Listed是指在某个交易通道，列在清单上的股票。
non - listed是指在某个交易通道，没有列在清单上的股票。
一个列在某交易通道清单上的股票，由于它的流动性得到了交易通道方的维护，这样的股票会有比较好的流动性。因此可以追买，追卖。也就是可以在上涨的时候买入，下跌的时候卖出。
一个没有列在交易通道清单上的股票，它的流动性会很差，追买和追卖会形成比较大的交易成本，因此只能在上涨的时候卖出，下跌的时候买入。
----------------------------------------------就算太阳没有迎着我们而来，我们正在朝着它而去，加油！
NO.PZ202110280100000301问题如下 Intify one fferenbetween the trang features of Valley Rananorth Circle, noteSailors, for eatrastrategy selection criterion. Orr Characteristics: Key fferences inclu: (i) the sizes of the orrs, with larger orrs North Circle; an(ii) the si of the orrs, with North Circle skewing more towarbuy orrs.Security Characteristics: Key fferences inclu: (i) security type, with North Circle trang only equities; (ii) short-term alpha focus, with more focus on short-term primovements Valley Ranch; an(iii) security liquity, with North Circle buying non-listesecurities.Market Contions: While both North Circle anValley Ranare impactemarket contions overall, North Circle’s investments in non-listesecurities are more likely to have a greater potentiexposure to aerse market liquity contions.InviRisk Aversion: The portfolio managers North Circle anValley Ranhave fferent aversions to risk, with North Circle’s managers having lower risk aversion ththe Valley Ranmanagers. 红画线部分是什么意思
NO.PZ202110280100000301 问题如下 Intify one fferenbetween the trang features of Valley Rananorth Circle, noteSailors, for eatrastrategy selection criterion. Orr Characteristics: Key fferences inclu: (i) the sizes of the orrs, with larger orrs North Circle; an(ii) the si of the orrs, with North Circle skewing more towarbuy orrs.Security Characteristics: Key fferences inclu: (i) security type, with North Circle trang only equities; (ii) short-term alpha focus, with more focus on short-term primovements Valley Ranch; an(iii) security liquity, with North Circle buying non-listesecurities.Market Contions: While both North Circle anValley Ranare impactemarket contions overall, North Circle’s investments in non-listesecurities are more likely to have a greater potentiexposure to aerse market liquity contions.InviRisk Aversion: The portfolio managers North Circle anValley Ranhave fferent aversions to risk, with North Circle’s managers having lower risk aversion ththe Valley Ranmanagers. 关于Market contion，我的回答角度是从BiAsk spre角度细节如下，老师麻烦看下是否可以Marcke contions: the BianAsk sprea: VRP is morate to wi anNis very wi. This means the stoin VRP hrelative high liquity thNNha wi B/A sprea貌似和答案不太一样，我的回答可以吗
NO.PZ202110280100000301 问题如下 Intify one fferenbetween the trang features of Valley Rananorth Circle, noteSailors, for eatrastrategy selection criterion. Orr Characteristics: Key fferences inclu: (i) the sizes of the orrs, with larger orrs North Circle; an(ii) the si of the orrs, with North Circle skewing more towarbuy orrs.Security Characteristics: Key fferences inclu: (i) security type, with North Circle trang only equities; (ii) short-term alpha focus, with more focus on short-term primovements Valley Ranch; an(iii) security liquity, with North Circle buying non-listesecurities.Market Contions: While both North Circle anValley Ranare impactemarket contions overall, North Circle’s investments in non-listesecurities are more likely to have a greater potentiexposure to aerse market liquity contions.InviRisk Aversion: The portfolio managers North Circle anValley Ranhave fferent aversions to risk, with North Circle’s managers having lower risk aversion ththe Valley Ranmanagers. 1.本题没有思路，麻烦讲解一下2.课后题讲解找不到对应位置
NO.PZ202110280100000301 问题如下 Intify one fferenbetween the trang features of Valley RananorthCircle, noteSailors, for eatrastrategy selection criterion. 这道题有以下几点疑问1、对于每一条特征是不是只用写一点不同就可以，我看答案有的特征写了两点不同2、对于市场条件的不同，我是从两者都出于wnsi情形下，biask sprea角度去分析，如果biask spre大那就说明在市场不好的情形下，面临的流动性危机更大,3、关于风险偏好与风险厌恶程度这个应该是说反了，我看也有人问了,解决了.以下是我答题的内容，烦请老师点评下谢谢 for orr characteristicsValley Ranha small size relative to NorthCirclev in tra size, whimbring market impact. Valley Ranuses long anshort strategy to obtain alpha，whereNorthCirclev only uses long strategy.for security characteristicsValley Raninvests equity annon-equity securities, whereNorth Circlev only invests equity.for market contionwhen market experiences wnsi, Valley Ranfaces a morate to wi biask spreabut lower thNorth Circlev'sfor risk aversionValley Ranhhigher risk aversion e to low risk appetite thNorth Circlev's