NO.PZ2023010903000048
问题如下：
Nowacki states that quantitative investing generally follows a structured and welldefned process. Knight asks Nowacki:
“What is the starting point for the quantitative investment process?”
Nowacki’s most appropriate response to Knight’s question about the quantitative investment process is to:
选项：
A.back-test the new strategy
define the market opportunity
identify the factors to include and their weights
解释：
The first step in creating a quantitative, active strategy is to define the market opportunity or investment thesis. Then, relevant data is acquired, processed, and transformed into a usable format. Tis step is followed by back-testing the strategy, which involves identifying the factors to include as well as their weights. Finally, the strategy performance should be evaluated using an out-of-sample back-test.
在强化串讲creating active investment strategy部分的讲义里， Creating a fundamental strategy的第一步不是define the investment universe and opportunity吗？Creating a quantitative strategy的第一步是use publicly information to predict future returns of stocks, using factors to build models.
