NO.PZ2023071902000121
问题如下：
Question In the face of an unexpected and highly impactful risk event(black swan risk), what adjustment are investors most apt to make?
选项：
A.Tactical
B.Sector specific
C.Asset allocation
解释：
Solution
- Correct because the rate at which geopolitical risk influences an investment portfolio is described as its velocity. Distinguishing between short-term 'high velocity', medium-term, and long-term 'low velocity' effects, we can see that in the immediate aftermath, there might be market disturbances affecting entire sectors or the market as a whole. Black swan events, being unanticipated and significant, tend to fall into this bracket, inducing market instability and a rush by investors towards safer assets. Given the unpredictable nature of black swan events, investors with suitable risk tolerance and investment horizons might opt for tactical adjustments to their investment decisions. Fundamental, long-term alterations are generally not mandated.
- Incorrect as this pertains to the medium-term impact of geopolitical risks: Such risks, unfolding over a medium duration, can hinder corporate operations, inflate costs, and restrict investment prospects, thereby diminishing valuations. These types of risks are generally sector-specific, disproportionately affecting certain companies over others.
- Incorrect as it leans towards the low velocity fallout of geopolitical risks: The speed with which geopolitical risk affects investment decisions is a critical aspect. The distinction between short-term 'high velocity', medium-term, and long-term 'low velocity' effects becomes vital. Long-standing risks can lead to significant environmental, societal, and governance repercussions. Consequently, they might necessitate re-evaluation and adjustments in an investor's overall asset allocation strategies, encompassing asset class selection and investment approaches, particularly over extended horizons. However, their immediate repercussions on portfolios are generally subdued.
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AC有什么不同，是指按照策略性分配资产么
