问题如下图：
选项：
A. 
B. 
C. 
解释：
老师，选项是错在哪里？
Shimin_CPA税法主讲、CFA教研 · 2018年07月20日
capital market theory中最典型的就CAPM，本题的考点是CAPM的6大假设。
B说所有投资者都会投资标普500指数，这个肯定不对，CAPM没有要求市场指数一定是某个特定的指数。
C说所有投资者都会投资相同风险的资产，这个也是不对的，因为CAPM的假设说的是'investors have homogeneous expectations or belief'，举个例子就是对于某个特定的股票，所有投资者都认为它的收益率是5%，这个假设不能推导出资产的风险如何，也就不存在说投资者都会投资相同风险的资产。
ninalin · 2018年07月21日
老师，所以A选项的optimal risky portfolio是不是SML所在的那条线呢？还是CML?
Shimin_CPA税法主讲、CFA教研 · 2018年07月21日
在SML的线上
NO.PZ2018070201000110 问题如下 Baseon capitmarket theory, all investors hthe homogeneity assumption with same economic expectation of future cash flow for all assets, all the investors is most likely to invest in: A.All investors will invest in the same optimrisky portfolio. B.All investors will invest in the StanranPoor’s 500 Inx. C.All investors will invest in assets with the same amount of risk. A is correct.Accorng to the homogeneity assumption, all investors have the same economic expectation of future cash flows anwoultherefore invest in the same optimrisky portfolio, implying the existenof only one optimportfolio (whiis the market portfolio). . 每个人有相同的预期，每个人无差异曲线是一样的吗？
NO.PZ2018070201000110问题如下 Baseon capitmarket theory, all investors hthe homogeneity assumption with same economic expectation of future cash flow for all assets, all the investors is most likely to invest in:A.All investors will invest in the same optimrisky portfolio.B.All investors will invest in the StanranPoor’s 500 Inx.C.All investors will invest in assets with the same amount of risk.A is correct.Accorng to the homogeneity assumption, all investors have the same economic expectation of future cash flows anwoultherefore invest in the same optimrisky portfolio, implying the existenof only one optimportfolio (whiis the market portfolio). .投资者会跟着大盘走，那B为什么不对呢
NO.PZ2018070201000110 问题如下 Baseon capitmarket theory, all investors hthe homogeneity assumption with same economic expectation of future cash flow for all assets, all the investors is most likely to invest in: A.All investors will invest in the same optimrisky portfolio. B.All investors will invest in the StanranPoor’s 500 Inx. C.All investors will invest in assets with the same amount of risk. A is correct.Accorng to the homogeneity assumption, all investors have the same economic expectation of future cash flows anwoultherefore invest in the same optimrisky portfolio, implying the existenof only one optimportfolio (whiis the market portfolio). . 没明白这个https://class.pzacamy.com/qa/60403
All investors will invest in the StanranPoor’s 500 Inx. All investors will invest in assets with the same amount of risk. A is correct. Accorng to the homogeneity assumption, all investors have the same economic expectation of future cash flows anwoultherefore invest in the same optimrisky portfolio, implying the existenof only one optimportfolio (whiis the market portfolio). .老师，为什么投资者都会投资optimrisky portfolio(market portfolio)? 而不是无差异曲线和CML的切点（optimportfolio）？