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🌊Yuri🌊 · 2023年08月16日

问

  1. CFA I
  2. Portfolio

NO.PZ2018070201000077

问题如下：

Which of the following is the optimal portfolio for a individual investor according to the capital market theory?

选项：

A.

the combination of a risk-free asset and a risky asset with the highest expected return.

B.

the combination of a risk-free asset and a risky asset with the highest indifference curve.

C.

the combination of a risk-free asset and a risky asset with the highest capital allocation line slope.

解释：

B is correct.

Individuals' optimal portfolios is determined by different indifference curves, which delivers the highest utility. So CAL is tangent to the individual investor’s highest possible indifference curve.

这句话怎么理解

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1 个答案

Kiko_品职助教 · 2023年08月18日

嗨，努力学习的PZer你好：


你问的是哪句话呢。这道题说的是根据资本市场组合理论下面哪个是投资者的最优组合。这道题就是考察optimal portfolio是哪两条线相切的点。他是无差异曲线跟CAL相切的点。答案里面的combination of a risk free asset and a risky asset说的就是CAL。

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虽然现在很辛苦，但努力过的感觉真的很好，加油！

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